specific software. ASU 2009-14 (Topic 985) states that, “if the software contained on the tangible product is essential to the tangible product’s functionality, the software is excluded from the scope of the software revenue guidance.” In its accounting guidance, the update states further that, “tangible products containing software components and non-software components that function together to deliver the tangible product’s essential functionality are no longer within the scope of the software
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difficult—particularly part 3, which requires analytical skills. • Since there are no beginning inventories, it makes no difference whether the weighted-average or FIFO method is used by the company. You may choose to assign the problem specifying that the FIFO method be used rather than the weighted-average method. 1. The computation of the cost of goods sold follows: Transferred In Conversion Estimated completion 100% 25% Computation of equivalent units: Completed and transferred
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120 86,500 136,620 65,320 2 Cash Discount expense Closing balance (Balance c/d) $ 67,800 3,500 65,320 136,620 ACCT1501 Practice Exam Questions & Solutions 2015S2 QUESTION 2 (12 Marks) Financial Reporting Principles, Accounting Standards and Auditing, & Sustainability Reporting Provide short answers to the following: 1. Auditors are required to maintain independence from their audit client. Why such independence is crucial? Why achieving and maintaining independence
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TERMS TO LEARN Accounting The Information system that measures business activities, processes the information into reports, and communicates the results to decision makers. Accounting Equation Assets=Liabilities+Equity Accounts Payable A short term liability that will be paid in the future Accounts Receivable The right to receive cash in the future from customers for good sold or for services performed Assets Economic resources that are expected to benefit the business in the
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Unit 1 - Assignment #1 China’s Tainted Baby Milk Powder: Rumored Control of Online News 1. Yes, there was damage to Baidu.com’s reputation. The rumors made the company’s information appear unreliable. By the rumor of the company being paid off for both not disclosing information and by ad placements, in the way that paid ads are listed pages before unpaid ads. The placement of ads also gives way that companies could pay for ad placement. 2. Future reputational damage could force the
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Class /Devry ACCT 212 Course Discussion Questions ACCT 212 Week 1 DQ 1 Financial Statements ACCT 212 Week 1 DQ 2 Prepaid Expenses vs. Unearned Revenue ACCT 212 Week 2 DQ 1 Accrual vs. Cash Accounting ACCT 212 Week 2 DQ 2 ACCT 212 Week 3 DQ 1 Ethical Business Decisions ACCT 212 Week 3 DQ 2 Trade Credit – Accounts Payable ACCT 212 Week 4 DQ 1 Inventory Management ACCT 212 Week 4 DQ 2 LIFO ACCT 212 Week 5 DQ 1 Non-current Assets and Related Liabilities ACCT 212 Week 5 DQ 2 Raising
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Cost Accounting (Assignment – 1) Quaid-i-Azam School of Management Sciences, Quaid-i-Azam University, Islamabad Fall Semester 2012 Course: Course Instructor: Class: Cost Accounting Wasim Abbas Shaheen BBA – III (A) Assignment No 1: Instructions for Assignment: This is an individual assignment. The assignment should be hand written. All the students are advised to submit their assignments on maximum 14th of October, 2012 (Monday). There will be no late submission of the assignments. The assignments
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SOLUTIONS MANUAL Frank Wood’s Business Accounting 1&2 ELEVENTH EDITION Frank Wood BSc(Econ), FCA and Alan Sangster BA, MSc, CertTESOL, CA ISBN 978-0-273-71824-6 © Pearson Education Limited 2008 Lecturers adopting the main text are permitted to download and photocopy this manual as required. Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies around the world Visit us on the World Wide Web at www.pearsoned.co.uk Eleventh
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1 Marks: 1 Based on data in the table, which of the statements below is true at a production level of 4 units? Quantity | Total Revenue | Total Cost | 0 | $0 | $4 | 1 | $20 | $14 | 2 | $40 | $26 | 3 | $60 | $40 | 4 | $80 | $56 | 6 | $120 | $94 | 7 | $140 | $116 | 8 | $160 | $140 | 9 | $180 | $166 | Choose one answer. | a. Marginal cost is $6. | | | b. Total revenue is greater than total variable cost. | | | c. Total revenue is greater than total cost. | |
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Course Title: Cost Accounting for Decision Making Professional Development Programme on Enriching Knowledge of the Business, Accounting and Financial Studies (BAFS) Curriculum 1 Learning Outcomes Upon completion of this course, teacher participants should be able to: •apply cost‐volume‐profit analysis techniques to ascertain the inter‐relationships among costs, selling price, units sold, breakeven point, target profit and margin of safety; •state the assumptions and limitations of cost‐volume‐
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