Multiple Choice: 1. In general terms‚ financial assets appear in the balance sheet at: a. Face value b. Current value c. Cost d. Estimated future sales value 2. Which of the following practices contributes to efficient cash management? a. Never borrow money – maintain a cash balance sufficient to make all necessary payments. b. Record all cash receipts and cash payments at the end of the month when reconciling the bank statements
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13 12 11 10 9 8 7 6 5 4 3 2 1 Transaction costs that are directly attributable to the “issuance of new shares” should be: a. Expensed immediately b. Charged to retained earnings c. Deducted from equity d. Deducted from equity‚ net of related income tax benefit ANSWER D Deducted from equity‚ net of related income tax benefit Question # 2 End 45 44 43 42 41 40 39 38 37 36 35 34 33 32 31 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 The following
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1.Managerial accounting vs financial accounting Managerial accounting information system is an information system that produces outputs using inputs and processes needed to satisfy specific managerial objectives. How do management accounting and financial accounting differ? Management Accounting Financial Accounting 1. Internally focused
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Question 5 “Financial accounting is compulsory for companies. Therefore it must be the only type of accounting that managers need.” You are required to: Discuss the above statement and provide examples to support your points of view. (25 marks) Financial accounting is the field of accountancy concerned with the preparation of financial statements for decision makers‚ such as stockholders‚ suppliers‚ owners and other stakeholders. The fundamental need for financial accounting is to reduce
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responsibility initiatives adopted by corporates which you are familiar with. Pg 102 3. “More centralization and decentralization are not advisable” – Do you agree or disagree? Justify. Suggest when and where these two concepts effectively applied in corporate. Pg 97 4. “MBO is the motivating factor or controlling technique”. Critically evaluate this statement. Compare and contrast between MBO and MBE. Pg 85 1.2 FINANCIAL MANAGEMENT 1. “The profit maximization is not an operationally feasible criteria
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assessment values D. Appraisal values 3. When bonds are issued between interest payment dates‚ any accrued interest received is usually credited to A. Interest expense B. Interest income C. Interest receivable D. Bond premium 4. An airline should recognize revenue from an airline ticket in the period in which A. Passenger reservations are booked B. Passenger reservations are confirmed C. Ticket is issued D. Related flight takes place 5. Which of the following is not a distinguishing
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WEEK 3 WORKSHOP TASKS (for submission at start of Week 3 workshop) Review Question 4 (page 628 of text) When reviewing the financial statements and supporting notes of a reporting entity‚ is it possible to establish all the individual types of income or expenses that the entity has incurred or received? If not‚ how does management determine which income and expenses should be disclosed? NZ IAS 1 paragraph 88 requires entities to recognize all items of income and expense occurred in the trading
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Managerial and Financial Accounting Report FIN540 Accounting for Managerial Decision Making Abstract Financial accounting develops account information that is used by external parties such as stockholders‚ suppliers‚ banks‚ and government regulatory agencies in their decision-making. Management accounting develops confidential accounting information that is used by managers within an organization. Management accounting is a complex process of identifying‚ accumulating and analyzing information
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Semester 1 MB0041 – Financial And Management Accounting - 4 Credits (Book ID: B1624) Assignment Set - 1 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions. 1. Explain the process involved in accounting. 2. The salaries paid in 2004 is Rs. 5‚00‚000; Salaries outstanding is Rs. 20‚000; Salaries paid in advance for 2004 is Rs. 30‚000. What is the actual salary expenditure for 2004? Which accounting principle is involved in this and explain that principle. 3. Find the value
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the society. In this report‚ it will use Legitimacy theory to explain BP’s response to this event. Legitimacy theory can be treated as a explanation for voluntary corporate disclosures in annual report. As (Dowling&Pfeffer‚ 1975) says a corporation must act in congruence with norms and society value. First of all‚ Legitimacy theory is based on the concept of substantive rationality and replies upon the notion of a social contract. This theory asserts that organizations seek to ensure that they
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