working at your accounting department in Ling Clothing Company. During look through the financial statement‚ I find some of transactions and events have a few mistakes in your company‚ which conflict with accepted accounting theory and GAAP. There are some mistakes I will present: The company switched from FIFO to LIFO in accounting for inventory. The preceding year it had switched from the weighted-average method to FIFO. I think it is conflict with accounting theory. First‚ accounting method should
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May 4‚ 2015 Subject: Quarterly Review Serious Reader Company‚ I’ve attached our completed income statement to this email‚ but I also wanted to quickly discuss the outcome your results. Overall Result Over the past year you have sold 4300 books‚ which look great on the surface. However you have experienced a severe profit loss. From the data that I have gathered from you records‚ your category D and E books are not doing as well as the other categories of books. You had a total loss of $9000 from
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Writing an Executive Memo Your strategy professors have asked the English faculty to cover the executive memo‚ which you will use in your strategic management class‚ for two reasons: * The ability to write a short‚ informative‚ well-written memo like this will serve you well in your future careers. * Writing a good memo is difficult and requires practice. Students in past strategic management classes have had trouble with the guidelines you’ll see in the following paragraph. Please read
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Date: 2/19/14 To: CEO of LOL From: Auditor Re: The realization and valuation of DTAs Mr. CEO: The following paragraphs explain why a valuation of temporary taxable differences is necessary and how‚ with the guidance of the Accounting Standards Codification (ASC)‚ we came to this conclusion. According to ASC 740-10-30-23‚ "The more negative evidence that exists‚ the more positive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not
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IFRS Illustrative financial statements October 2012 kpmg.com/ifrs 1 Contents What’s new 2 About this publication 3 Independent auditors’ report on consolidated financial statements 5 Consolidated financial statements 7 Consolidated statement of financial position 9 Consolidated statement of comprehensive income – single-statement approach 13 Consolidated statement of changes in equity 17 Consolidated statement of cash flows 21 Notes to
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Memo Evaluation Enrique Jamelo ENG 221 Abstract According to Batten‚ Donna (2010)‚ “Memorandum or memo is an informal record‚ in the form of a brief written note or outline‚ of a particular legal transaction or document for the purpose of aiding the parties in remembering particular points or for future reference.” (Page 41). Memo Evaluation For the week two individual assignments‚ I chose a memo from the University of Phoenix Virtual Organizations’ intranet site which is the Riordan Manufacturing:
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QANL 2216 Homework #1 Due date: 9/8/14 Requirement: Use MS-Word to complete the homework. Copy and paste any Excel output to your WORD file‚ print it and staple all pages. Un-stapled homework is NOT acceptable. Problem #1 The following data represent energy consumption and renewable energy consumption in the United States in 2005: Energy Source %* Renewable Energy Source %* Coal 23.0 Ethanol
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facility. Jan 31‚2011‚at which time it will sign the lease termination agreement‚ Pharma Co. plans to vacate the Plant A facility. The lease is an operating lease with termination fee is $1.3M. The lease was entered into in Feb 2004 with a term of 10 years. The written notice is required for early termination. Dec 27‚ 2010‚ communicated the main features of a one-time‚ nonvoluntary termination plan to its employees. The reduction includes approximately 120 employees‚ which represents 10 percent
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Catawba Industrial Company Assignment Questions and Memo Instructions 1. Is the company correct in its practice of not manufacturing standard model compressors on Sundays because of the accounting loss incurred on each unit? 2. The compressor department and its manager are evaluated based on profit. Compute the compressor department profit with and without Sunday production. 3. If Marge McPhee decides to manufacture ten light-weight compressors each week and to sell them at a price of
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uniform without a compelling reason. The government cannot prove that Zar’s intentions were to commit or threaten any act of violence through his speech. It is true that Zar’s action caused other people to get angry at the message he was trying to send and caused violence against him. But‚ Zar had every right to express his message by wearing his uniform. Also‚ there was no evidence the people are provoked by the uniform 2. Aiken will not be successful in his claim against Dr. Jass. There needs
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