CPA REVIEW® NINJA Notes 2015 Financial Accounting & Reporting (Updated as of July 2015) Table of Contents The N.I.N.J.A. Framework I. IFRS 8 II. Accounting Changes 19 III. Financial Reporting 20 IV. Bonds & Debt Restructure 39 V. Consolidations 48 VI. Deferred Taxes 51 VII. Derivatives, Hedging, & Translation 53 VIII. Fixed Assets 57 IX. Governmental Accounting 63 X. Personal Financial Statements, Segments, & Interim Reporting 74 XI. Partnership Accounting 77 XII. Inventory 80 XIII. Investments
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Explaining Basic Accounting Concepts and Business Structures ACT/537 January 9, 2012 Explaining Basic Accounting Concepts and Business Structures A solid understanding of basic accounting is arguably one of the most essential skills future businesses leaders require for success. The business world operates to make a profit, and in order to do so, managers must understand the numbers. Managers from marketing, production, management, or information systems should each understand fundamentals
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Sarbanes Oxley Act and its effect on publicly traded companies, its management and the auditors. Legal, Ethical and Accounting Breaches Committed by Enron Enron committed numerous frauds to deceive the public during its course of business. One of the major frauds was the setting up of SPE’s (special purpose entities). Enron used these SPE’s or off balance sheet partnership
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Similarities and Differences between U.S.GAAP and iGAAP – Intangible Assets The global economy is regulated by two main accounting systems: (1) United States Generally Accepted Accounting Principles, also known as U.S. GAAP, and the (2) International Generally Accepted Accounting Principles, also known as iGAAP. As the abbreviations dictate, U.S. GAAP are the standards that regulate U.S. accounting procedures and iGAAP are standards that regulate international organizations. Both standards are alike with respect
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Fishermans Bend, I can confidently say that I can work with minimal supervision. This is because my supervisor and all my other colleagues are at DSTO Edinburgh, I am considered the 1st level support officer for all enquiries in regards to asset accounting enquiries. If there is a question, all the finance staff comes to me for advice, which I would provide to them there and then, or a little while after some investigation. If required, I will contact my supervisor and/or colleagues for advice.
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Complete Mark 1 out of 1 Question text Hill invests the following assets in a new partnership: P15,000 in cash, and equipment that cost P30,000 but has a book value of P17,000 and fair market value of P20,000. Hill, Capital will be credited for P32,000. Select one: True False Feedback The correct answer is 'False'. Question 3 Complete Mark 1 out of 1 Question text General professional partnerships are exempted from income taxation. Select one: True False Feedback The correct
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Chapter 1 — Business Combinations: America's Most Popular Business Activity, Bringing an End to the Controversy MULTIPLE CHOICE 1. An a. b. c. d. economic advantage of a business combination includes Utilizing duplicative assets. Creating separate management teams. Coordinated marketing campaigns. Horizontally combining levels within the marketing chain. C DIF: E OBJ: 1 ANS: 2. A tax advantage of business combination can occur when the existing owner of a company sells out and receives: a
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Effects of Unethical Behavior Article Analysis ACC/291 Principles of Accounting II (AXIA) November 12, 2012 Effects of Unethical Behavior Article Analysis The impact of unethical accounting behavior can be devastating, often leading a company to closure or bankruptcy. Some examples of internal unethical accounting practices include under and overstatement of expenses, revenue, liabilities, and corporate assets, misuse of capital (possibly for personal gain), etc. Examples of external
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ENRON: QUESTIONABLE ACCOUNTING LEADS TO COLLAPSE CRYSTAL RUFF GLOBE UNIVERSITY ABSTRACT This paper summarizes the article listed in reference that reported on the demise of Enron and the contributing factors that led to the financial downfall of a great company. The roles of the corporate culture, Enron’s financial staff, and even the chief financial officer are all to blame for the events that lead to the finality of the company that resulted in bankruptcy. While Enron boasted about
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CAPITAL AND INCOME IN FINANCIAL REPORTING IN THE NINETEENTH CENTURY Calculation, Context and Consequence THOMAS REGINALD (Tom) ROWLES B.Ec (Hons), Dip.Ed (Monash) A THESIS SUBMITED FOR THE DEGREE OF DOCTOR OF PHILOSOPHY IN THE SCHOOL OF ACCOUNTING AND LAW OF RMIT UNIVERSITY, MELBOURNE, VICTORIA, AUSTRALIA ii DECLARATION I certify that: Except where due acknowledgement has been made, this thesis is mine alone; and The work has not been submitted previously, in whole or part
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