ACC 205: Week Two Exercise Answers Revenue and Expenses 1. Recognition of concepts a. Accrued Expense b. Accrued Revenue c. None of the foregoing d. Unearned Revenue e. Prepaid Expense f. Prepaid Expense g. None of the foregoing h. None of the foregoing 2. Understanding the closing process a. Note Payable‚ Accounts Receivable‚ Accumulated Depreciation: Building‚ Accounts Payable‚ Cash b. Product Revenue‚ Utility Expense‚ Supplies Expense c. Utility Expense‚ Supplies
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million compared to RM 213.46 million‚ while revenue declined to RM1.41 billion from RM1.47 billion a year ago. SP Setia Berhad’s net profit for the ended 31 October 2009‚ fell 20% to RM171.23 million from RM213.46 million a year ago. This is mainly due to inclusion of profit recognised on the disposal of its 25.07% interest held in Loh & Loh Corporation Berhad amounting to RM26.9 million a year ago. However‚ the effect was partially palliated by the recognition of profits on the disposal land of Greenhill
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cost producer. Raw materials form the majority of PCG cost of revenue. PCG competitive advantage is‚ it has access to very low cost natural gas compared to its competitor‚ which in turn‚ means a higher gross profit margin. 2) PCG is backed by PETRONAS group‚ which also owns other 4 PLC units: i) MISC Bhd ii) Petronas Dagangan Bhd iii) Petronas Gas Bhd iv) KLCC Property Holdings Bhd This shows a strong support and wide recognition for PCG for its better operations‚ management and resources
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ADMN919: Financial Accounting Project Company: Amazon.com Bikram Gautam UNH (MANCHESTER) Q1 - 9. Brief Description of the Company: Founder and CEO Jeff Bezos opened the virtual doors of Amazon.com’s online store in July 1995. The company was incorporated in 1994 in the state of Washington and reincorporated in 1996 in Delaware. The Company’s principal corporate offices are located in Seattle‚ Washington. Amazon.com completed its initial public offering in May 1997‚ and its common stock
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top players in the world. These players were called the “Galácticos.” The Galácticos were the core of a complete business reformation pioneered by the President of the club‚ Florentino Peréz‚ a Spanish business mogul. Under his guidance‚ brand recognition expanded greatly‚ and cash flows increased drastically‚ creating great profits for the firm. The consumer market for Real Madrid Club de Fútbol can be divided into four main segments‚ the two extremes being heavily loyal member-owners known as
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economic events that affect a company’s financial position. Three measurement issues must be resolved before a business transaction is recorded. Recognition issue—When should the transaction be recorded? For e.g. A sale is recognized when title passes to the buyer‚ regardless of when payment is received (recognition point). Valuation issue—What dollar amount should be recorded? At the exchange price (historical cost) unless there is evidence that the fair value has changed
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ARTIFICIAL PASSENGER-An interactive Artificial Intelligence Anushree N.S.‚ L.Kavyashree 5th semester‚ department of ISE ‚BITM ‚ Bellary. Abstract-Usually‚ an automobilist interacts with the other passengers to stay alert during a journey. This methodology may not actually help him to the mark. But‚ an application of the artificial intelligence can fix the issue. It is called as “Artificial
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Chapter 6: Revenue RecognitionRead: Chapter 6 and partly 13 on warrantyIn-class exercises: BE6-7‚ EX6-11‚ EX6-9‚ EX6-16‚ EX6-18 Practice exercises: EX6-7‚ BE6-11‚ P6-1‚ P6-2‚ E13-17 There are two main conceptual views on how to account for revenues/sales: Earnings approach Contract-based approach Earnings Approach Revenues are recognized when the following criteria are met: 1. Performance is achieved: a. risks and rewards transferred and/or earnings process substantially complete‚ and
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International Journal of Trade‚ Economics and Finance‚ Vol. 2‚ No. 6‚ December 2011 Use or Abuse of Creative Accounting Techniques Syed Zulfiqar Ali Shah‚ Safdar Butt‚ and Yasir Bin Tariq India who are always short of this product. It takes three years for a cement plant to start production. By the time the new plants came into production in late nineties‚ the country’s economic scenario had changed. The government had no money for development‚ the economy was generally in recession‚ and
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Chapter 1 Overview of Financial Reporting‚ Financial Statement Analysis‚ and Valuation CHAPTER 1 OVERVIEW OF FINANCIAL REPORTING‚ FINANCIAL STATEMENT ANALYSIS‚ AND VALUATION Solutions to Questions‚ Exercises‚ and Problems‚ and Teaching Notes to Cases 1.1 Value Chain Analysis Applied to the Timber and Timber Products Industry. Exhibit 1.A below contains a depiction of the value chain. The links in the value chain are as follows: 1. 2. 3a. 3b. 4a. 4b. 5a. 5b. Timber Tracts: Plant and maintain timber
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