AC 550 Intermediate Accounting Homework assignment Ch1-2 Chapter 1 CA1-1 1. GAAP is the term used to indicate the whole body of FASB authoritative literature. Ans: True 2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. Ans: False – All company that is claiming compliance with GAAP must follow all standards and interpretations especially
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Assassinations‚ espionage‚ shoot-outs‚ and defusing bombs - these are activities that the common public typically associate with the United States Intelligence Community. I have a future career goal of working for the FBI or the CIA‚ which are agencies catalogued under the intelligence community. However‚ I aspire to work in a more mundane capacity than the typical field-agent stereotype. I want to work in an American intelligence agency as a forensic accountant. The path needed to get from my current
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1. The accounting process involves all of the following except a. identifying economic transactions that are relevant to the business. b. communicating financial information to users by preparing financial reports. c. recording nonquantifiable economic events. d. analyzing and interpreting financial reports. 2. Financial accounting provides economic and financial information for all of the following except a. creditors. b. investors. c. managers. d. other external users. 3.
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ACCOUNTING HOMWRK WK2 CLA DISCUSSION Graded Activity: Class Discussion (25 points) | Instructional Objectives for this activity: Describe the terms asset‚ liability‚ and owner’s equity account Outline how the accounting equation is utilized | The relationship between three basic accounting elements – assets‚ liabilities‚ and owner’s equity – can be expressed in the form of a simple equation known as the accounting equation. Please respond to all of the following prompts in the class
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[pic] Department of Career & Professional Development WINTER 2012 FINAL EXAMINATION | | | | | STUDENT NAME | | STUDENT NUMBER | Taxation I CCTX 511 |Lecturer: | Larry Goldsman‚ C.A.
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DRIVE BK ID Q.No 1 2 ASSIGNMENT FALL 2014 MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2 1 MB0041 FINANCIAL AND MANAGEMENT ACCOUNTING B1624 4 60 Questions Marks Analyze the following transaction under traditional approach. 18.1.2011 Received a cheque from a customer‚ Sanjay at 5 p.m. Rs.20‚000 19.1.2011 Paid Ramu by cheque Rs.1‚50‚000 20.1.2011 Paid salary Rs. 30‚000 20.1.2011 Paid rent by cheque Rs. 8‚000 21.1.2011 Goods withdrawn for personal use Rs. 5‚000 25.1.2011 Paid an
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13. The interest on a $4‚000‚ 6%‚ 60-day note receivable is $40. 14. The maturity value of a $2‚000‚ 6%‚ 60-day note receivable dated February 10th is $2‚020 15. A disadvantage of the corporate form of business is government regulation.. 16. James Corporation issued 2‚000 shares of $5 par value common stock for $20 per share. The entry to record this transaction includes a credit to Paid-in Capital in Excess of Par for $30‚000.
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PAPER F8 (INT): AUDIT AND ASSURANCE ANSWERS 1 BLAKE CO Key answer tips Walk in the footsteps of a top tutor The question requires an understanding of the purpose of control systems‚ namely payroll in this scenario. The student is also required to identify weaknesses relevant to the scenario and suggest improvements. This should not present any real challenge to a well prepared student as it is typical of the F8 exam. NOTE: there are 2 presentation marks for adopting a management letter
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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 principal-agent problem by measuring and monitoring agents’ performance and reporting the outcome to interested end-users. Financial accountancy is used to prepare accountancy data for people outside the organisation or for those‚ who
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Introduction of Company Suntec Singapore International Convention & Exhibition Centre (Suntec Singapore) is a world-renowned‚ international venue located at the heart of waterfront business centre‚ adjacent to the Central Business District. It has the perfect location for hosting corporate meetings‚ conventions‚ exhibitions‚ banquets as well as special events which attract plentiful organizations from around the world. Suntec Singapore is also a fully integrated convention city
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