Department of Career and Management Studies www.mcgill.ca/conted-cms/ Course Outline Course Name: Advanced Financial Accounting III ACCT 453 / CCFC 513-771 Instructor: Jim Wilson C.A. jim.wilson@mcgill.ca Course Assistant Mathew Goldsmith mathew.goldsmith@mail.mcgill.ca Email: The instructors can be reached from the email tool within WebCT Contact Information: Heico 2004 Member Inc. c/o Ivaco Rolling Mills 1040 County Road 17 L’Original‚ Ontario K0B 1K0 613-675-6887
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21. General-purpose financial statements are the product of a. financial accounting. b. managerial accounting. c. both financial and managerial accounting. d. neither financial nor managerial accounting. 22. Users of financial reports include all of the following except a. creditors. b. government agencies. c. unions. d. All of these are users. 23. The financial statements most frequently provided include all of the following
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Chapter 1 An Overview of Financial Management ANSWERS TO BEGINNING-OF-CHAPTER QUESTIONS 1-1 The primary goal is assumed to be shareholder wealth maximization‚ which translates to stock price maximization. That‚ in turn‚ means maximizing the PV of future free cash flows. Maximizing shareholder wealth requires that the firm produce things that customers want‚ and at the lowest cost consistent with high quality. It also means holding risk down‚ which will result in a relatively low
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INHolland Hogeschool 11/16/2012 Team 1 Business Manual – L’Oreal Table of Contents INHolland Hogeschool 1 Table of Contents 2 1. Introduction 3 2. Project Group Details 4 3. Mission and Vision 5 Primary Goals 5 Secondary Goals 6 4. Organizational Structure 6 5. Value Chain of L’Oreal 8 6. Company Resources 11 Human Capital 11 Intangible Assets 11 7. Cultural Aspects 12 National background of L’Oreal 12 8. Business Culture 13 The company values approach
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weaknesses and strengths (Palat 1999). However‚ ratio analysis is difficult and there are many limitations. This section will identify and discuss the inadequacies of accounting ratios as tools of financial analysis. ACCOUNTING POLICIES. It is difficult to use ratios to compare companies‚ because they very often follow different accounting policies. For example‚ one company may value stock under the LIFO principle‚ another may follow the FIFO principle. Similarly‚ one company may depreciate assets under
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"buys" itself time to better its financial standing and gives them the cash to pay the expenses that are needed to keep the business afloat. C. What is the minimum line of credit that CBM will need? Based on our findings‚ it appears that the company will need to borrow a total of $220‚750 from outside sources. The amount of cash borrowed‚ will then be paid off with any surplus cash that is produced in the following months. Without the repayment within a short period‚ the cash deficit will most
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Chapter 17 Accounting and Reporting for the Federal Government True / False Questions 1. Responsibility for setting accounting and reporting standards for federal agencies rests primarily with the Federal Accounting Standards Advisory Board. True False 2. By law‚ federal agencies must incorporate the accounting standards (GAAP) established for the federal government into their financial management systems. True False 3. The objectives of federal financial reporting
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Solutions Ch 3 Balance Sheet 3.22 (Nestlé; asset recognition and measurement.) a. Both U.S. GAAP and IFRS would recognize Investment in Bond (noncurrent asset)‚ CHF800 million. Nestlé would record the bond at acquisition cost‚ not the amount it will receive at maturity. b. Both U.S. GAAP and IFRS would recognize Prepaid Insurance (current asset); CHF240 million would be recorded initially. At Nestlé’s year-end‚ the balance in the Prepaid Insurance account would reflect the two months usage of
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Case Solutions Corporate Finance Ross‚ Westerfield‚ and Jaffe 9th edition CHAPTER 2 CASH FLOWS AT WARF COMPUTERS The operating cash flow for the company is: (NOTE: All numbers are in thousands of dollars) OCF = EBIT + Depreciation – Current taxes OCF = $1‚332 + 159 – 386 OCF = $1‚105 To calculate the cash flow from assets‚ we need to find the capital spending and change in net working capital. The capital spending for the year was: | |Capital spending
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Panasonic Warranty 1. The product is warranted for 12 months from the date of purchase. Subject to the conditions of this warranty Panasonic or its Authorised Service Centre will perform necessary service on the product without charge for parts or labour if‚ in the opinion of Panasonic‚ the product is found to be faulty within the warranty period. 2. This warranty only applies to Panasonic products purchased in Australia and sold by Panasonic Australia or its Authorised Distributors or Dealers
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