GOVERNMENTAL ACCOUNTING EXAM 3 - CHAPTERS 8 THRU 10 Select the best answer for each question and enter your answers on the answer sheet sent with the exam. Submit only the completed answer sheet‚ not the entire exam. Please write your name on the answer sheet. 1. General long-term debt of a governmental entity includes a) All future financial obligations. b) All future financial obligations that result from past transactions. c) All future financial obligations
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References: 1. Forensic Accounting and Fraud Examination‚ second edition‚ William S. Hopwood; Jay J Leiner; George R Young. 2. http://www.anao.gov.au/html/Files/BPG%20HTML/BPG_PublicSectorAuditCommittees/2_5.html 3. http://www.deloitte.com/view/en_CN/cn/services/corgov/ic/iarr/ 4
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If you’re intrigued by accounting principles and topics like financial statements‚ foreign exchange rates‚ and capital structure‚ this online program is an excellent path for you. (An on-campus option may also be available; contact a student advisor for details.) You’ll gain the knowledge you need to pursue a career in this field and move toward professional certification. The Bachelor of Science degree in Accounting is designed to provide students with the education necessary for a rewarding and
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E12-16 E12-1 (Classification Issues—Intangibles) Presented below is a list of items that could be included in the intangible assets section of the balance sheet. 1. Investment in a subsidiary company. …. LT Investment in Balance Sheet 2. Timberland. ……………………………………..… PPE in Balance Sheet 3. Cost of engineering activity required to advance the design of a product to the manufacturing stage. …………R& D Expense in Income Statement 4. Lease prepayment (6 months’ rent paid in advance). …………………………………………………
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Accounting Fraud: A White Collar Crime Accounting Fraud: A White Collar Crime The CEO and CFO of a Swiss security systems company named Tyco‚ stole 150 million dollars from their company before being caught in 2002. At the height of the scandal‚ the CEO threw a 2 million dollar birthday party for his wife on a private island with guest performer Jimmy Buffet. After being caught‚ the CEO and CFO were sentenced to 8-25 years in prison and Tyco had to repay its investors 2.92 billion dollars (The
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ISSUES IN ACCOUNTING EDUCATION Vol. 26‚ No. 4 2011 pp. 797–806 American Accounting Association DOI: 10.2308/iace-50053 Home Heaters: A Holistic View of the Financial Statements M. Cathy Claiborne and Kirkland A. Wilcox ABSTRACT: In this case‚ two start-up companies in the same industry have identical economic transactions. Although both companies follow generally accepted accounting principles (GAAP)‚ each manager makes different choices and estimates when applying GAAP. By preparing
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To get an understanding and feel of the process of accounting‚ let us go through an example of an organisations accounting consisting of a few transactions during an accounting period. Following are the transactions relating to M/s Trinity Foods‚ over an accounting period from 1st June 2005 to 30th June 2006. ▪ Started business with Capital Tk. 1‚00‚000 ▪ Paid into Bank Tk. 10‚000 ▪ Bought Furniture and paid cash Tk. 25‚000 ▪ Bought goods for cash Tk. 50‚000 ▪ Bought
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1. Accounting is an information and measurement system that: A. Identifies business activities. B. Records business activities. C. Communicates business activities. D. Helps people make better decisions. E. All of these. 2. Technology A. Has replaced accounting. B. Has not changed the work that accountants do. C. Has closely linked accounting with consulting‚ planning‚ and other financial services. D. In accounting has replaced the need for decision makers. E. In accounting is only
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RESPONSIBILITY ACCOUNTING Management Accounting - Responsibility Accounting Planning & control are essential for achieving good results in any business. Firstly‚ a budget is prepared and‚ secondly‚ actual results are compared with budgeted ones. Any difference is made responsibility of the key individuals who were involved in (i) setting standards‚ (ii) given necessary resources and (iii) powers to use them. In order to streamline the process‚ the entire organization is broken into various
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Managerial Accounting Focusing on Internal Accounting Debby L. Lenahan AIU Online ACCT310-1302A-04: Managerial Accounting interoffice memorandum to: | CEO | from: | debby lenahan | subject: | hiring new managerial accountant | date: | May 5‚ 2013 | cc: | prof. kristina unutoa | | | It is imperative that we hire another managerial accountant to focus on our internal accounting. Our internal accounting is very important because this is what sets our standards and policies.
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