...UNIVERSITAS INDONESIA ACCOUNTING CHAPTER 5 Group 4 Muhammad Fariz Haikal 1206334291 Mutia Imro Atussoleha 1206334303 Shervani Andita P. 1206334594 Magister Management Fakultas Ekonomi Universitas Indonesia Jakarta 2013 Problem 5-4 As Of 31 Dec A/R =750.000 AFDA=37.500 Days Account Outstanding|Amount|Expected Percentage Uncollectible*|Estimated Uncollectible| 0-15 days|$450,000|0.01|$ 4,500| 16-30 days| 150,000|0.06| 9,000| 31-45 days| 75,000|0.20| 15,000| 46-60 days| 45,000|0.35| 15,750| 61-75| 15,000|0.50| 7,500| Balance for Allowance for Doubtful Accounts|$51,750| *(1-Probability of collection.) Days Account Outstanding > 75 days, has amount = $15,000, Expected Precentage Uncollectible=0% would be written off immediately and not be considered when determining the proper amount of the Allowance for Doubtful Accounts. b. Account Receivable|$735,000| Allowance for Doubtful Accounts.|$ 51,750| Net Accounts Receivable|$683,250| * Account Receivable= $750000 - $ 15.000 = $735.000 c. The year-end bad debt adjustment would decrease the year’s before-tax income by $29,250, as shown below: Estimated amount required in the Allowance for Doubtful Accounts|$51,750| Balance in the account after write-off of bad accounts but before adjustment|$22,500| Required charge to expense|$29,250| *$22500=$37500(Allowance for Doubtful Accounts ) -$15000 (Bed Debt Expense) ...
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...CHAPTER 9 SOURCES OF CAPITAL: OWNERS’ EQUITY Changes from Eleventh Edition Updated from Eleventh Edition Approach By comparison with Chapter 8, this chapter’s equity topics are relatively straightforward. I try to downplay the differences between equity accounting for unincorporated and incorporated businesses. As a consultant to the former, I urge them to impute market salaries for their employee-owners, so that their income can be compared with the pretax earnings of incorporated firms. Cases Xytech, Inc. provides practice in accounting for various owners’ equity transactions. Innovative Engineering Company involves comparison of alternative financing arrangements for a new company. UPC, Inc., examines the calculation of earnings per share for annual periods. Maxim Integrated Products, Inc., provides a platform to discuss accounting for stock options under PAS 123R. This is a new case with this edition. Problems Problem 9–1 a. (1) Debt/Equity Debt/Capitalization Ratio Ratio Including current liabilities.................................................................................................................... Rarely calculated $97,920 = 66.7% this way. $146,880 (2) Excluding current liabilities except $79,560 $79,560 = 35.1% = 54.2% current portion of long-term debt........................................................................................................... $226,440 $146,880 (3) Excluding all current liabilities........................
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...labour, overheads and sales variance), practical applications Budgeting and budgetary control mechanism Activity based costing, Responsibility Accounting Target costing Objective Objective of this course is to help student understand: 1. The essence of management accounting-effective use of the accounting information for planning, control and business decision making. 2. To use cost accounting as a managerial tool for business strategy and implementation. 3. To understand analyse the costing tools and their business application for enhancing revenue and profitability of a firm,. 4. To analyse various aspects of costing such as, marginal costing, absorption costing, allocation of costs, standard costing and variance analysis, activity based costing, target costing etc. 5. To understand the process of decision making, planning and budgeting in a business organisation. Pedagogy Lectures Discussions on case studies Term Projects and presentations Discussion and presentation on published research papers on related topics. Text book: Management Accounting: Paresh Shah, OXFORD UNIVERSITY Press, Edition, Eighth impression 2012. Reference Books: 1. Managerial Accounting, by James Jiambalvo, third edition, pub. Wiley 2. Management Accounting, M Y Khan & P K Jain, Pub. Tata McGraw-Hill 3. Managerial Accounting, Ronald W Hilton/ G Ramesh Pub.Tata McGraw Evaluation and Weightage (Total 100 Marks) Class Quiz : 10 Marks Class Assignment...
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...Learning Assurance Officer: Alana Ifill Prerequisite/co-requisite course (s): Introduction to Financial Accounting Workshop Involvement of other institutions for delivery: None 1 1.0 Vision and Mission of the Lok Jack GSB Our purpose is to contribute to the development of the human and institutional capacity required to transform the business landscape and shape our own destiny. Through our comprehensive and integrated programmes and consultancy services, we provide a framework for developing new pathways for achieving sustainable growth and competitiveness The mission of the School is to improve the international competitiveness of people and organisations in the Caribbean through business education, training, consulting and research. 2.0 Quality Statement In today’s organization the non financial manager can no longer avoid financial information. Profit statements, operating budgets, and project analyses are constant part of a manager’s day. The concept of the finance and non financial manager has now become very blurred. The modern manager must have the ability to utilize the appropriate methods for analyzing, interpreting, and understanding Financial Information in order to convert this data into powerful allies in their decision making. The purpose of this course is to give the participants the ability to Appreciate the use of accounting information for decision-making Understand the different “tools” used to perform financial statement analysis ...
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... COURSE CODE : BKAF3083 COURSE : ACCOUNTING THEORY AND PRACTICE PRE-REQUISITE : BKAF3073 FINANCIAL ACCOUNTING AND REPORTING IV |Lecturer |Group |Room |Ext. |e-mail | |DR. DHIAA SHAMKI |C & F |3.07 |3740 |dhiaashamki@uum.edu.my | 1.0 SYNOPSIS This course is an advanced level course focusing on financial accounting theory; and as such, it differs from other accounting courses learnt previously. It is designed to further enhance students’ understanding of the concepts and issues in accounting theory and practices. This course involves the study of the practical and theoretical issues involved in the development, implementation and changes in accounting theories and regulatory framework. As this course will be seminal-like, this course will provide students with some generic skills required in the accounting profession such as team working, interaction, leadership, follower-ship, critical and creative thinking skills, decision making skills, analytical skills, communication skills as well as professional demeanor. 2.0 OBJECTIVES Upon completion of this course, students are expected: 2.1 to understand the principles, concepts and issues in accounting theory, financial accounting theory and reporting practices, ...
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...MMS – Semester – I (Core Subjects All Specialisations) Sr. No. | Subject | Teaching Hours | Assessment Pattern | | | | No. of Sessions of 90 minutes | No. of Sessions of 90 minutes per week | Contin uous Assess ment | Semeste r End Examina tion | Total Marks | Duration of Theory Paper | No of Credits | 1 | Perspective Management | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 2 | Business Communicati on and Management Information Systems | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 3 | Organisation al Behaviour | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 4 | Financial Accounting | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 5 | Operations Management | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 6 | Marketing Management | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 7 | Managerial Economics | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | 8 | Business Statistics | 30 | 2 | 40 IA | 60 IA | 100 | 3 | 2.5 | | | | Total No of Credits | | | 20 | UA: - University Assessment; IA: - Internal Assessment MMS SEMESTER – I (All Specialisations) Perspective Management (15 Sessions of 3 Hours Each) Sem I S. No. | Particulars | Sessions | 1 | * Management : Science, Theory and Practice - The Evolution of Management * Thought and the Patterns of Management Analysis - Management and Society : * Social...
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... | | |cass.lai@nottingham.edu.cn | |Office Hours |Dr. Kevin Dow: Th, 2:00 pm - 4:00 pm, every Thursday until Exams (except December 11 and 25) | | |Cass Lai: Th, 2:00 pm - 4:00 pm | KEY POINTS • This is a Level 3, 10 credit module; • Assessment basis: a one and a half hour Examination (100%); • Keywords: Audit; Governance; Corporate Scandals; Audit Theory and Practice; Accountability; • Pre-requisite module: P12307 Financial Reporting. MODULE AIMS To use a mix of textual and case-based material to examine the role of the audit as a means of ensuring accountability in organisations and society, and hence develop knowledge of the purpose, structure and limitations of the audit process. To critically evaluate the role of related functions within overall governance structures. LEARNING OBJECTIVES AND OUTCOMES Knowledge and understanding This module develops a...
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...Accounting Standards Codification® Notice to Constituents (v 4.6) About the Codification FASB Accounting Standards Codification® Notice to Constituents (v 4.6) About the Codification Notice to Constituent version numbers - The Notice to Constituents contains a version number indicating the degree of change within a particular version. Versions ending with ".0" represent substantive changes to the text, whereas versions ending with a number other than zero represent editorial or clerical corrections. Page FASB Accounting Standards Codification ................................................................................... 4 Codification Goals .......................................................................................................................... 5 Codification Research System ........................................................................................................ 6 Content Matters............................................................................................................................... 7 Population of codified standards as of July 1, 2009 ................................................................... 7 Standards issued by standard setters other than the SEC ........................................................ 7 Standards issued by the SEC................................................................................................... 8 Essential and nonessential content ................................
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...Accounting Standards Codification® Notice to Constituents (v 4.5) About the Codification FASB Accounting Standards Codification® Notice to Constituents (v 4.5) About the Codification Notice to Constituent version numbers - The Notice to Constituents contains a version number indicating the degree of change within a particular version. Versions ending with ".0" represent substantive changes to the text, whereas versions ending with a number other than zero represent editorial or clerical corrections. Page FASB Accounting Standards Codification ................................................................................... 4 Codification Goals .......................................................................................................................... 5 Codification Research System ........................................................................................................ 6 Content Matters............................................................................................................................... 7 Population of codified standards as of July 1, 2009 ................................................................... 7 Standards issued by standard setters other than the SEC ........................................................ 7 Standards issued by the SEC................................................................................................... 8 Essential and nonessential content ................................
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..................................................................... 3 What makes accounting challenging? ........................................................................................................ 3 How should I approach the course? ........................................................................................................... 3 Threaded Discussions.............................................................................................................................. 4 Homework Assignments ......................................................................................................................... 4 Course Project ......................................................................................................................................... 5 Midterm Exam ........................................................................................................................................ 5 Final Exam ............................................................................................................................................... 5 What resources are available? .................................................................................................................... 5 2 Why a success guide? Students frequently approach accounting with a certain level of anxiety about the difficulty of the course, the...
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...Accounting, Auditing & Accountability Journal On Valuing Nature Ruth Hines Article information: To cite this document: Ruth Hines, (1991),"On Valuing Nature", Accounting, Auditing & Accountability Journal, Vol. 4 Iss 3 pp. Permanent link to this document: http://dx.doi.org/10.1108/09513579110144802 Downloaded on: 22 September 2014, At: 09:07 (PT) References: this document contains references to 0 other documents. To copy this document: permissions@emeraldinsight.com The fulltext of this document has been downloaded 1512 times since 2006* Users who downloaded this article also downloaded: Downloaded by UNIVERSITI UTARA MALAYSIA At 09:07 22 September 2014 (PT) Ruth D. Hines, (1989),"Financial Accounting Knowledge, Conceptual Framework Projects and the Social Construction of the Accounting Profession", Accounting, Auditing & Accountability Journal, Vol. 2 Iss 2 pp. Christine Cooper, (1992),"The Non and Nom of Accounting for (M)other Nature", Accounting, Auditing & Accountability Journal, Vol. 5 Iss 3 pp. Christopher Humphrey, Robert W. Scapens, (1996),"Methodological themes: Theories and case studies of organizational accounting practices: limitation or liberation?", Accounting, Auditing & Accountability Journal, Vol. 9 Iss 4 pp. 86-106 Access to this document was granted through an Emerald subscription provided by 394654 [] For Authors If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service...
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...ADM 335 ACCOUNTING II: MANAGERIAL ACCOUNTING COURSE DESCRIPTION Managerial accounting involves the use of economic and financial information to plan and control many of the activities of the business entity and to support the management decision-making process. The main objective of this course is to explore the relevant issues of cost accounting. Hence, this course examines the acquisition, analysis, and reporting of accounting information from the perspective of effective management decision making, with special emphasis on the planning and control responsibilities of practicing managers. It also familiarizes the student with an electronic spreadsheet package found in today’s business world. TOPICS Topics to be covered in this course: • • • • • • • • • • • • • Managerial Accounting—Definition and Perspective Cost Terms, Concepts, and Classifications Job-Order Costing Process Costing Cost Behavior Analysis Cost-Volume-Profit Relationships Profit Planning and Budgeting Standard Costs and Variance Reporting Flexible Budgets Segment Reporting and Profitability Relevant Costs for Decision Making Statement of Cash Flows Financial Statement Analysis STUDENT—1 ACCOUNTING II: MANAGERIAL ACCOUNTING This syllabus has been developed by the faculty of the College of Business and Management at Cardinal Stritch University. © 2014 Cardinal Stritch University Syllabus Control Number: 061614 STUDENT—2 ACCOUNTING II: MANAGERIAL ACCOUNTING INTRODUCTION SYLLABUS FORMAT This...
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...Home Discussion Question (10 points) Due on Tuesday, November 12, 2013 at the beginning of class Instructions: Read the “Refer-a-Friend Program” Case. You have just been hired by Runway Discount as the assistant controller and one of your first tasks assigned to you by the controller is to evaluate the company’s accounting treatment of the “Refer-a-Friend Program” described in the case. The controller expects you to research the case and have your written recommendations on her desk by November 12. Write a 1- to 2-page double spaced research paper which addresses the three required questions of the case. Explain the journal entries you recommend in the case requirements. Support your conclusions with citations from the Accounting Standards Codification and International Accounting Standards. A summary of IFRS is included in your Spiceland text. You may also access IFRS at: http://www.ifrs.org/IFRSs/IFRS.htm. You may register for free access to the unaccompanied International Accounting Standards (excludes implementation guidance) at this site to access additional information about the measurement of revenue under IFRS. Your response should be prepared working independently from others and in accordance with the American University Academic Integrity Code. You may use the Spiceland text, the Accounting Standards Codification., IFRS, and other assigned class materials. If you quote a phrase directly from these resources, include the related ASC reference...
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...Content: • History of the HR function, theories and models of HRM; • The roles and responsibilities of stakeholders in HRM; • The changing nature of work, managing diversity, technology and flexibility; • Human resourcing: recruitment and selection, human resource planning; • Reward and performance management; • Employee relations, employment legislation, the legal framework for unionism; • Human resource development; managing learning, knowledge and change; • The integration of HR and corporate strategy. Teaching Format: One 2-hour lecture per week; Three 1-hour tutorials. Assessment: • Group coursework assignment (40%); • Individual written coursework assignment (60%). Text(s): Beardwell, J. and...
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...of Business York University Winter 2014 Course Outline ACTG 3120.3.0 : Intermediate Financial Accounting II Section: T Class: Tuesdays, 11:30am – 2:30pm Lab: Wednesdays, 5:30pm - 7:00pm Instructor Liz Farrell (416)736-5063 or (416)736-2100, ext. 66522 S345 Seymour Schulich Building efarrell@schulich.yorku.ca Office hours: Mondays, 8:00 - 8:30 am Tuesdays, 10:30 - 11:30 am Wednesdays, 8:00 - 8:30 am Secretary Filomena Petrilli 416-736-5063 S344K Seymour Schulich Building fpetrill@schulich.yorku.ca Brief Description This is an extension of SB/ACTG 3110.03, but with a primary focus on the valuation and presentation of liabilities and owners' equity. Major topics include current, long-term and contingent liabilities; leases; pensions; corporate income tax allocation; capital transactions, earnings per share and analysis of financial statements under differing accounting policies. The criteria by which both preparers and users make decisions are emphasized. Prerequisite[s] / Co-requisite[s] Note: Not available to exchange students visiting Schulich. Prerequisite: SB/ACTG 3110 3.00 Course objectives and detailed description The objective of this course is to provide students with an indepth understanding of the accounting for the liabilities and equities side of the balance sheet. This includes both international accounting standards (Part I of CICA Handbook) and the accounting standards for private enterprises (Part II of CICA Handbook). This course is the continuation of...
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