The analysis and application of the balance sheet Kuang xin Financial accounting is one of the most popular major in the world. In the study of accounting‚ people must know and use expertly the three accounting statement‚ balance sheets‚ cash flow‚ and income statement. It is the most basic and useful skill in one’s career of accounting. But in the four basic financial statement‚ the balance sheet or called statement of financial position is the only one
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by the concept of conservatism ? Why is it also called the concept of prudence? Why is it not applied as strongly today as it used to be in the Past ? (b) What is a Balance Sheet ? How does a Funds Flow Statement differ from a Balance Sheet ? Enumerate the items which are usually shown in a Balance Sheet and a Funds Flow Statement. 2 . (a) Discuss the importance of ratio analysis for inter-firm and intra-firm comparisons including circumstances responsible for its limitations .If any (b) Why
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PRACTICAL ACCOUNTING 1 1. On January 1‚ 2012‚ Revenue Company sold specialized computers costing P760‚000 to Income‚ Inc. for P990‚000. Revenue Company’s trainers present numerous training sessions for Income’s employee during the installation period. Income made a 50% down payment‚ with the balance due upon completion of installation. How much revenue should Revenue Company recognize on its books on January 1‚ 2012? a. P990‚000 b. P760‚000 c. P495‚000 d. P-0- 2. SAMpple Company is an
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-Starbucks Corporation and the use of “Off-Balance Sheet” Financing Starbucks Corporation‚ founded in 1985 in Seattle‚ Washington‚ purchases‚ roasts and sells whole bean coffees at retail locations worldwide. Starbuck’s in-store products include brewed coffees‚ espresso beverages‚ blended beverages‚ complimentary food items‚ teas and brewing equipment. At the end of 2009‚ Starbucks operated through 7‚ 803 retail locations in 49 countries (Annual Report 4). In recent years‚ Starbucks’s stock
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John Tierney Case study 8 11/2/2013 1) As a late mover into the US intercity bus market‚ what advantages and disadvantages does Megabus have? Megabus being a late mover in the US‚ has allowed the company to learn from past mistakes by companies such as Greyhound‚ who filed for bankruptcy in the mid 90’s and who lost most of it’s business due to poorly maintained terminals‚ high prices for fares and unsafe conditions. Megabus’s advantages include fares as lows as 1 dollar‚ free wi-fi
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providing a product or service 3) These are selected account balances on December 31‚ 2008. Land (location of the corporation’s office building) $150‚000 Land (held for future use) 225‚000 Corporate Office Building 900‚000 Inventory 300‚000 Equipment 675‚000 Office Furniture 150‚000 Accumulated Depreciation 450‚000 What is the net amount of property‚ plant‚ and equipment that will appear on the balance sheet? D. $1‚650‚000 4) "Generally accepted" in
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Off balance sheet financing is financing from sources other than debt or equity offerings‚ such as joint ventures‚ research and development partnership and operating leases. For complex institutions such as banks‚ they increase their use of off shore subsidiaries and swap transactions to avoid disclosing liabilities. In other words‚ off balance sheet accounting is a process which a business creates what is practically a debt that it must pay off‚ but the debt is accounted as another type of transaction
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soccesfield Content The absolute goal of Ciclón de Alicante is to become a major soccer club in Spain. But how? The stadium • Q: What is the impact of the sale of the stadium transaction on Ciclón’s 2003 Income Statement and Statement of Cash Flows (under the Indirect Method)‚ and on its Balance Sheet for the year ended on December 31th‚ 2003? Items to be addressed cash payment of $ 100 million cost of building the new stadium was $ 20 million market value of the land was $ 12 million the book value
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the corporation‚ printed on a glossy paper with attractive graphic and contains management spin‚ management could chose the level of detail to be provided and language it could be anything which is on management’s discretion‚ also a annual report contains letters of the CEO and chairman generally talking about the present performance and future of the company while on the other hand Publicly traded companies have a large roster of reporting and regulatory obligations to fulfill. Corporations must
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the bottom line of their income statement and is a measure of the firm’s income over a given period of time. The cash flow of a firm shows how a firm has used the cash it earned during a set of time. There are two reasons that the income statement does not show the amount of cash earned. One‚ there are non-cash entries on the income statement and second‚ there are certain uses such as a purchase of a building that are not reported on the income statement. The statement of cash flows utilizes the
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