Case 2-2: 1. With respect to the adjustments related to goodwill‚ answer the following: a. Why does the adjustment for goodwill amortization increase net income under Country A GAAP but decrease net income under Country B GAAP? The adjustment for goodwill amortization increases net income under Country A GAAP but decrease net income under Country B GAAP because of how SKD amortizes goodwill for a period of 20 years while for Country B goodwill is only amortized for a period of 5 years. This leads
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Assignment 2 Part A When planning a financial statement audit‚ an auditor must understand audit risk and its components. Components of Audit risk: a. Auditor’s business risk b. Control risk c. Detection risk d. Inherent risk Illustration Component of Audit Risk 1. A client fails to discover employee fraud on a timely basis because bank accounts are not reconciled monthly. 2. Cash is more susceptible to theft than an inventory of coal. 3. Confirmation
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labeled x starting in cell G2. c. 5 points: Using the built-in Excel function named COUNTIF‚ calculate the count (frequency) of each outcome (x) in the sample. In general‚ your function with its arguments will appear as “=COUNTIF(argument 1‚ argument 2)‚”
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Assignment -2 Assessment 2: individual coursework assignment this task is about demonstrating your understanding of the construction of significant international maritime policies and the difficulties in ensuring they achieve their safety objectives. The task for you to carry out is: Identify a significant international maritime policy or amendment to existing policy introduced by the IMO or the European Commission during the last decade (2004-2014) that in your view has created controversy
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ACC280 ASSIGNMENT 2 QUESTION 1 JANABIZ Sdn Bhd Construction in Process account for the year ended 31 December 2012 RM RM Material purchased 400‚000 plant 10‚500 Direct labour paid 250‚000 Material transfer to other site 1‚000 Sub contractor paid 150‚000 prepaid administrative expenses c/d 700 Other direct expenses 25‚000 Unused material c/d 4‚000 administrative expenses 3‚500 material returned to supplier 400 Indirect labour paid 10‚000 prepaid indirect labour c/d 500 Hire of crane
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differently. In my setting of 2-4 years we plan the activities around the child’s development stages but allow the children to use the activity in their own way. The children are not expected to use the activities in the same way and are encouraged to share there ideas with each other. Because of Piaget’s theories pre schools have a more hands on approach and plan activities by assessing the child’s needs. Psychoanalytical (Freud) Freud believed that a child’s personality is shaped during there childhood
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Foreign Literature Inventory Systems Summary According to the U.S. Small Business Administration‚ “Inventory refers to stocks of anything necessary to do business” (U.S. Small Business Administration‚ 2010) The U.S. Small Business Administration publication describes what constitutes successful inventory management balancing cost versus benefits of inventory‚ including Maintaining a wide assortment without spreading the rapidly moving items too thin‚ Increasing inventory turnover without sacrificing
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1. Selling costs can be either direct or indirect costs. TRUE 2. A direct cost is a cost that cannot be easily traced to the particular cost object under consideration. FALSE 3. Property taxes and insurance premiums paid on a factory building are examples of period costs. FALSE 4. Conversion cost equals product cost less direct labor cost. FALSE 5. Thread that is used in the production of mattresses is an indirect material that is therefore classified as manufacturing overhead. TRUE 6.
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price. It also allow the company the option to develop a large learning curve in the industry‚ so Shuzworld can create an aggressive pricing policy that focus on cost reductions‚ build on shared experience‚ as well as the ability to keep more inventory for the demand in orders to save on labor costs. The coefficient approach is the best method for the company to use. The coefficient approach allows Shuzworld to determine the overall labor hours needed to produce the sandals‚ and determine the
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Tutorial 2 Chapter 6 Question 6.2 Current tax liability in four cases The chief financial officer of Lost Weekend Ltd has asked you to calculate the taxable income and prepare the journal entry for the current tax liability in each of the following four cases. Case 1 Case 2 Case 3 Case 4 Accounting profit (loss) After debiting as expense: Goodwill impairment loss* Entertainment costs* Donation to political party* Depreciation expense – plant Long-service leave expense For tax purposes: Tax depreciation
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