slight increase in accounts receivable reflecting the timing of seasonal sales at the end of 2011 as compared with 2010. Although its primary credit risk concentrates on two clients‚ McLane and Wal-Mart‚ its accounts receivable turnover is increasing. It means Hershey’s collection ability is good. Accounts Receivable—Trade In the normal course of business‚ we extend credit to customers that satisfy pre-defined credit criteria based upon the results of our recurring financial account reviews and our
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is account receivable? Credit sales‚ sales on account b. How do accounts receivable differ from notes receivable? Notes Receivable arises when the seller asks for a note to replace an Accounts Receivable when the customer requests additional time to pay a past-due account. A promissory note is a written promise to pay a specific amount of money‚ usually including interest‚ at a future date. c. What is a contra asset? An account which offsets another account. A contra-asset account has
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CHAPTER 6 Objectives Identify different types of long-term operational assets. Determine the cost of long-term operational assets. Explain how different depreciation methods affect financial statements. Determine how gains and losses on disposals of long-term operational assets affect financial statements. Explain how expense recognition for natural resources (depletion) affects financial statements. Explain how expense recognition for intangible assets (amortization) affects
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In the article‚ “5 Maps and Charts That Will Surprise You” by Ezra Klein‚ the chart showing Africa in comparison to some other countries‚ was subtitled “Africa is much bigger than you think”. This subtitle is a little bit misleading since most people know that Africa is a massive continent. For hundreds of years‚ people have thought that Africa is much smaller than it actually is‚ according to most world maps. According to “5 Maps and Charts That Will Surprise You” by Ezra Klein‚ “Most maps you
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Consolidated Accounts Balance Sheet • Home Page» • Business & Economy» • Accounting Consolidated Accounts Balance Sheet C UNIT 3: CONSOLIDATED BALANCE SHEET Definition of a Group Under IAS 27 Consolidated and Separate Financial Statements‚ a group exists where one enterprise (the parent) controls‚ either directly or indirectly‚ another enterprise (the subsidiary). A group consists of a parent and its subsidiaries. Definition of Control Under IFRS 3 Business Combinations‚ control
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1. Sully Company uses 3‚000 yards of canvas each day to make tents. It usually takes ten days from the time Sully orders the material to when it is received. If Sully’s desired safety stock is 12‚000 yards‚ what is Sully’s order point? a. 12‚000 yards b. 21‚000 yards c. 30‚000 yards d. 42‚000 yards ANS: D 3‚000 (daily usage) x 10 (lead time) 30‚000 Safety stock 12‚000 Order point 42‚000 PTS: 1 DIF: Moderate REF: P. OBJ: 1 NAT: IMA 3A - Strategic Management TOP: AACSB - Analytic 2. What
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Key Explorers Chart Assignment (Classwork and Homework Grade) We will start in the Computer lab and you will complete on your own Due 4B on 2/10 and 4A 2/11 Set up a chart giving information on major explorers of the period. We will be able to use this chart as a study guide/reference as we continue to learn how Europe‚ Asia‚ Africa and the Americas changed. As a result of scientific/technological growth..AKA (Scientific Revolution)‚ and cross-cultural contacts: explorations‚ colonization and trade
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not strict in observing the habit of saving. If from a young age students who get some pocket money learn to save a certain percentage of it every month‚ it will be helpful to them and to their parents. Kids are allowed to have recurring deposit accounts in
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Practising IELTS Academic Writing Part 1 A. TEACHERS’ NOTES Description Time required: 60 minutes Materials required: One copy per student of Classroom Handout 1 & 2 Aims: To introduce and practise vocabulary to describe charts and graphs in Part 1 of the Academic Writing test A1. Lesson Plan 1. Warmer: In pairs the students answer the following questions: “What type of music do you like?” “How do you buy and listen to music?” “How are your choices in music
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instance the current account has very shorter maturity having offered no return‚ and saving deposits have high maturity offered high rate of return. The difference among the Islamic and conventional banking system can be judged on the basis of risk involvement. The Islamic jurists (Ullama Keram) argued that the element of risk should not be removed from the financial transaction‚ if that is removed from the financial transaction then that transaction is no more remained the business or trade but involved
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