Accounting Regulatory Bodies The success of an organization relies heavily on accounting. Investors are extremely important to publicly traded companies‚ and they rely on accurate accounting documents when choosing whether or not they want to invest in a company. Several accounting regulatory bodies exist‚ and each of them plays an important role in accounting and the effects that accounting has on an organization. The primary goal of these regulatory bodies is to establish a set of rules and
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What are the major regulatory bodies and their functions? IRS (Internal Revenue Service): It is the oldest in the United States regulatory body also called the internal revenue service or IRS. The main goal of IRS is to manage and implement the internal revenue law. Their responsibility is to help individuals to understand their tax obligations as well as to tax collection. SEC (Security and Exchange Commission): SEC also called the Securities and Exchange Commission. Their main objective is
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the next year. • Dividend of $ 20‚000 was declared on 15 October 2012‚ and been paid on 15 November 2013. • On 31 October 2012‚ Dyson sold the entire interest for $1.1 million. • Partial goodwill method is used in Malone. Theory and Impact of Accounting Treatment • AASB 10 Paragraph 97-99 The consolidated financial statement involves adding together the financial statement of the parent and subsidiary and making a number of adjustments. • Impact of Investment on Consolidation - On 30 June 2012
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company uses a process cost accounting system. Its Assembly Department’s beginning inventory consisted of 50‚000 units‚ 3/4 complete with respect to direct labor and overhead. The department started and finished 127‚500 units this period. The ending inventory consists of 40‚000 units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $24‚000 and overhead costs of $32‚000 for
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went to one of the best Brussels chocolate maker to learn the technique of chocolate. She bought manufacturing machines. In Africa‚ she learnt the principles of cocoa. Making chocolate is true alchemy. To work chocolate‚ it needs to be slightly below body temperature. At over 37 degrees centigrade it loses its gloss and its qualities. Nevertheless‚ little by little‚ Marie-Anne became an expert. The chocolates she made were increasingly popular. They became the accepted corporate gift‚ the small offering
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HAND GLOVE MOUSE here we designed and built a wireless computer pointing device with accelerometer based movement control. Our implementation allows the user to wear a set of hardware (a glove and connected armband) and control a cursor through different hand orientations and finger presses. Users can operate their computers with their hands in midair without the hassle of desks surfaces or wires. The motivation for this project was to create an intuitive glove-based pointing device for multiple
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Angle: The proper way to break in a baseball glove Purpose: To inform people on the proper way to break in a baseball glove. Thesis: Proper breaking-in not only gives you a great product‚ it actually can extend the life of the glove. Today I’d like to share with you the proper way to break in a glove. Organizational Pattern: chronological order Introduction 1. Attention getter: All good things take time. 2. Thesis statement: Proper breaking-in not only gives you a great product‚ it
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Stella Omusa is another interesting case study. As she pursued early schooling‚ Stella never had any idea of her orientation. Even her parents and peers could not help Stella on the same. Luckily‚ as a bright student‚ it was not difficult to secure admission into a public university. However‚ it is not clear whether Stella pursued a degree in bachelor of commerce‚ accounting option by choice or just as a matter of natural flow of events. Most likely though‚ it was the course she was selected to
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http://jobview.monster.com/Senior-Accountant-Manager-Job-San-Juan-PR-US-130837373.aspx Questions and answers 1. Under what conditions is direct labor a valid basis for allocating overhead? Direct labor is a valid basis for allocating overhead when: (a) direct labor constitutes a significant part of total product cost‚ and (b) there is a high correlation between direct labor and changes in the amount of overhead costs. 2. What has happened in recent industrial history to reduce the usefulness
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Tan Sri Dr. Lim Wee-Chai (Appointed Chairman in 2000‚ aged 49) Chairman Founded Top Glove in 1991‚ totalling 26 years of experience in the latex industry. Former president of the Malaysian Rubber Glove Manufacturers’ Association (MARGMA)‚ board member of the Malaysian Rubber Board‚ and Director of the Association of Malaysia Medical Industries. Tan Sri Datuk (Dr.) Arshad Bin Ayub (Appointed in 2000‚ aged 79) Independent Non- Executive Director Former Deputy Governor of Bank Negara Malaysia
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