Accounting Cheat Sheet Visit our website online at: http://www.AccountingCoach.com Learn more about AccountingCoach Pro: http://www.AccountingCoach.com/pro/ For personal use by the original purchaser only. Copyright © AccountingCoach®.com. Click a Category Below Financial Statements Balance Sheet Income Statement Cash Flow Statement Stockholders’ Equity Financial Ratios Accounting Principles Bookkeeping, Debits and Credits Accounting Equation Adjusting Entries Bank Reconciliation Petty
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“Accounting standards Boards paper” Con la caída de empresas como Enron, Tyco, Worldcom, y la falta de honradez probada y la desaparición de la mayor firma de contabilidad Andersen Authur (AA), el país y el mundo se hicieron dolorosamente conscientes de los cambios necesarios en los sistemas contables de los Estados Unidos. La Ley “Sarbanes-Oxley” (SOX), aprobada en 2002 ha implementado el cambio tan necesario en la industria. Con la economía mundial en crecimiento, la producción y el comercio en
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Becker CPA Review, PassMaster Questions Lecture: Financial 1 CPA PassMaster Questions-Financial 1 Export Date: 10/30/08 1
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_________________________________________________________________________________________ Multi-lingual glossary (English, French, German, Italian and Spanish) Corporate Financial Reporting: a global perspective Co-authored by Hervé Stolowy and Michel Lebas Authors of the glossary: Eva Eberhartinger (Professor, Chair of accounting and tax management, University of Muenster, Germany), José Antonio Gonzalo (Professor of Accounting and Financial Economics, Department of Managerial Science,
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I. Economics a. What is economics Definition: Economics is a social science that deals with human wants and their satisfaction. Ps: It's not a natural science so it's not accurate because it change all the time b. Basic problem * Want are unlimited Resources are limited => scarcity: It's a situation where the demand for resources exceeds the available supply * Solution => Make the better choices to manage resources. Example: I have £50. Which one should I choice
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CHAPTER 1 Governmental and Nonprofit Accounting: ENVIRONMENT AND CHARACTERISTICS ANSWERS TO QUESTIONS QUESTION 1-1 a. The similarities of accounting for profit-seeking and G&NP organizations include: 1. Double-entry system of accounts. 2. Most accounting mechanics, e.g., basic transaction documents, journals, ledgers, charts of accounts. 3. Where a G&NP organization has a business-type activity, e.g., a municipal electric utility, the accounting largely parallels that
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1. Three major organizations in the private and public sector develop U.S. and international GAAP. They include all of the following except the (Points: 4) EU (European Union) SEC (Securities and Exchange Commission) FASB (Financial Accounting Standards Board) IASB (International; Accounting Standards Board) 2. The purposes of the joint long-term project of the FASB and IASB to converge revenue recognition principles include all of the following except (Points: 4) eliminate inconsistencies in
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PwC Similarities and Differences A Comparison of IFRS, US GAAP and Indian GAAP* *connectedthinking November 2007 PricewaterhouseCoopers’ publications and tools PricewaterhouseCoopers has a range of tools and publications to help companies apply IFRS (see also the inside back cover). Illustrat ive Consolidated Fin ancial Statements • Corporate, 2007 • Banking, 2006 • Insurance, 2006 • Investment funds, 2006 • Investment property, 2006 Realistic sets of financial statements
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Introduction In recent decades, the global economy has undergone a rapid transformation, from an economy driven by “traditional hard assets- plants, warehouses and the like”, to an economy driven by patents, software, intellectual property, and brands. These items fall into a category that has become hugely important in the world of financial reporting, “intangible assets”. Increasingly, the value of a firm is derived not from its tangible assets such as stock, property, plant and equipment but
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I. Audit Quality The primary role of accounting is to reduce information asymmetry by providing investors with relevant and reliable information in order to create an efficient allocation of resources. However, there is often a tradeoff between relevance and reliability that needs to be considered when imposing regulations (Scott, 2012). When information asymmetry is present, investor faith decreases, compromising the efficiency of the market. In order to prevent market failures, it is critical
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