of Managerial Accounting—Fall 2013 Competencies |Competency |Description | |1 |Know difference between managerial and financial accounting. | |(Ch. 1-2) |Managerial accounting – provision of accounting info for a company’s internal users. It is the firms internal | |Q 1-6 |accounting system and is designed
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the equity method of accounting for investments Chapter Outline I. Three methods are principally used to account for an investment in equity securities along with a fair value option. A. Fair value method: applied by an investor when only a small percentage of a company’s voting stock is held. 1. Income is recognized when dividends are declared. 2. Portfolios are reported at fair value. If fair values are unavailable, investment is reported at cost. A. Consolidation: when
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separate units of accounting? • Yes, it is a multiple element arrangement since it is a sales arrangement that involves delivery of multiple products and services over extended period of time. • The following would quality for separate units of accounting: a. Equipment b. Installation c. Maintenance & Support 2. If the arrangement consists of more than one unit of accounting, how should the arrangement fee be allocated between the separate units of accounting? Assume
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Question 1 3 out of 3 points Correct Radio Moscow Industries purchased supplies for $1,000. They paid $400 in cash and agreed to pay the balance in 30 days. The journal entry to record this transaction would include a debit to an asset account for $1,000, a credit to a liability account for $600. Which of the following would be the correct way to complete the recording of the transaction? Answer Selected Answer: Credit an asset account for $400. Correct Answer: Credit an asset account
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environment. PROFESSIONAL BACKGRAUND: YEAR 2014 CPA PART III: SECTION UNITS COVERED SECTION 6 Advanced Taxation Advanced Auditing and Assurance Advanced Financial Reporting UNITS COVERED SECTION 5 YEAR 2014 CPA PART III: SECTION 5 YEAR 2013 CPA PART II: SECTION 4 UNITS COVERED SECTION 4 ÿ Taxation ÿ Company Law ÿ Quantitative Analysis Year 2012 CPA PART II: SECTION 3 SECTION 3 ÿ Financial Reporting. ÿ Financial Management. ÿ Management Information Systems
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RESPONSIBILITY ACCOUNTING Management Accounting - Responsibility Accounting Planning & control are essential for achieving good results in any business. Firstly, a budget is prepared and, secondly, actual results are compared with budgeted ones. Any difference is made responsibility of the key individuals who were involved in (i) setting standards, (ii) given necessary resources and (iii) powers to use them. In order to streamline the process, the entire organization is broken into various
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(Explicit and Implicit Costs) Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit? Why or why not? Amos McCoy is not currently making an economic profit, despite the fact that he is making an accounting profit. This is so, because the accounting profit calculation does not take into account an important implicit cost—the opportunity cost
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ACCA Paper F2 Management Accounting June 2012 Revision Mock – Answers To gain maximum benefit, do not refer to these answers until you have completed the revision mock questions and submitted them for marking. ACCA F2: MANAGEMENT ACCOUNTING © Kaplan Financial Limited, 2012 The text in this material and any others made available by any Kaplan Group company does not amount to advice on a particular matter and should not be taken as such. No reliance should be placed on the content as
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Examination TABLE OF CONTENTS Examinaton: Instructions ........................................................................................ 1 Management Accounting ................................................................... 2 Corporate Finance ........................................................................... 20 Financial Accounting........................................................................ 25 Taxation ..................................................................
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GE) or the Intersegmental General Education Transfer Curriculum (IGETC for CSU). 3. Completion of a minimum of 90 CSU-transferrable quarter units (De Anza courses numbered 1-99) with a minimum 2.0 GPA (“C” average). 4. Completion of all De Anza courses combined with courses transferred from other academic institutions with a minimum 2.0 degree applicable GPA (“C” average). Note: A minimum of 18 quarter units must be earned at De Anza College. Major courses for certificates and degrees must
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