good judgment. Kickbacks are illegal and deemed unethical in the United States. Kickbacks‚ sometimes referred to as bribery‚ are payments given or received with the intention of influencing another to gain from a situation and/or transaction. In the medical industry‚ doctors are often given samples from pharmaceutical companies to give to patients. This practice is common and is not illegal. However‚ when the doctor agrees to prescribe a particular medication or refer a particular specialist doctor
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6-3 What is the future value of $7‚540 at the end of 7 periods at 8% compounded interest? What is the present value of $7‚540 due 9 periods hence‚ discounted at 11%? What is the future value of 15 periodic payments of $7‚540 each made at the end of each period and compounded at 10%? What is the present value of $7‚540 to be received at the end of each of 18 periods‚ discounted at 5% compound interest? 6-6 Dwayne Wade Company recently signed a lease for a new office building‚ for a lease period
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Introduction Traditionally‚ cash basis of accounting has been used in the public sector; however‚ in recent years extensive debates have emphasised whether a move to accruals basis of accounting would be more feasible. The proponents argue for such a change due to the benefits accruals basis has to offer. There are still heavyweight supporters for cash basis such as IFAC – a body that issued 21 IPSAS based on IMF‚ EU Commission‚ and IFRS / IAS (Jorge Faustino‚ 2008). Moreover‚ there are several organisations
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This essay is to critically evaluate the usefulness of the accounting theory to practicing accountants today. It will provide a general assessment of information asymmetry and the fundamental problem of accounting‚ and it will also briefly discuss the normative and positive accounting theories and their usefulness to practicing accountants. After those discussions‚ it will specifically discuss the strength and limitation of positive accounting theory and assess its usefulness to practicing accountants
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Statements on Management Accounting PRACTICE OF MANAGEMENT ACCOUNTING TITLE Definition and Measurement of Direct Material Cost TABLE OF CONTENTS Definitions . . . . . . . . . . . . . . . . . . . . . . . . . Materiality . . . . . . . . . . . . . . . . . . . . . . . . . Material Quantities . . . . . . . . . . . . . . . . . . . Material Lost in the Production Process . . . . Samples‚ Prototypes‚ and Initial Production Runs . . . . . . . . . . . . . . . . . . 1 2 2 2 3 Unit Price of Direct Material
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not been authorized. *Accounting estimate—An approximation of a monetary amount in the absence of a precise means of measurement. This term is used for an amount measured at fair value where there is estimation uncertainty‚ as well as for other amounts that require estimation. Where ISA 540 2 addresses only accounting estimates involving measurement at fair value‚ the term “fair value accounting estimates” is used. *Accounting records—The records of initial accounting entries and supporting
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Legal‚ Technological‚ Accounting‚ and Political Environments Chapter Objectives After studying this chapter‚ students should be able to: 1. Describe the major types of legal systems confronting international businesses. 2. Explain how domestic laws affect the ability of firms to conduct international business. 3. List the ways firms can resolve international business disputes. 4. Describe the impact of the host country’s technological environment on international business. 5. Identify
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Accounting Ethics Accounting Ethics‚ Second Edition. Ronald Duska‚ Brenda Shay Duska‚ and Julie Ragatz © 2011 John Wiley & Sons‚ Ltd. Published 2011 by John Wiley & Sons‚ Ltd. ISBN: 978-1-405-19613-0 Foundations of Business Ethics Series editors: W. Michael Hoffman and Robert E. Frederick Written by an assembly of the most distinguished figures in business ethics‚ the Foundations of Business Ethics series aims to explain and assess the fundamental issues that motivate interest in each of
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Advances In Management Vol. 5 (9) Sep. (2012) General Article: Environmental Accounting and Reporting In India: An Appraisal Sharma V.K. New York Institute of Technology‚ Bahrain Campus‚ BAHRAIN vks123@gmail.com Abstract killed over 3‚000 people‚ blinded several thousand and affected over 1‚50‚000 people. Earth’s environment is a rich heritage handed over to us by previous generations. The present civilization is involved in varied activities. Many of these activities generate
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earnings—Unappropriated 38‚000 $643‚600 $643‚600 An analysis of the Retained Earnings—Unappropriated account follows: Retained earnings unappropriated‚ December 31‚ 2010 $1‚300‚000 Add: Net income 327‚000 Transfer from appropriation for bonded indebtedness 60‚000 Total $1‚687‚000 Deduct: Cash dividends $185‚000 Stock dividend 240‚000 425‚000 Retained earnings unappropriated‚ December 31‚ 2011 $1‚262‚000 1. On January 2‚
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