Signature Page Signature Page Copy Right All rights of this report are reserved. No part of it may be reproduced or transmitted in any form without the prior notice and permission by the authors. No patent liability is assumed with respect to the use of the information contained therein. Authors:
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become more experienced. Good trades and coaching will increase the roster value, but injuries and retirements will decrease it. Overstated Player Salary Expense 1、Amortization of Signing Bonuses The players think the owners overstate player expense in several ways, so Paul comes up with 3 adjustments. One is that they expense the signing bonuses in the year they're paid. They feel the bonuses are just a part of the compensation package, and that for accounting purposes, the bonuses
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CHAPTER 22 Accounting Changes and Error Analysis ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Differences between change in principle, change in estimate, change in entity, errors. Accounting changes: a. b. Comprehensive. Changes in estimate, changes in depreciation methods. Changes in accounting for long-term construction contracts. Change from FIFO to average cost. Change from FIFO to LIFO. Change from LIFO. Miscellaneous. 2, 11 8 1, 3, 4, 5, 8, 24 8, 14, 15, 17, 19 2, 18, 21 9, 16,
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/ Prepaid Expenses ….which then flows into Manufacturing/Selling/Admin Expense Control Accounts CLASSES OF TRANSACTIONS/ACCOUNTS Acquisitions: Cash Disbursements: * Inventory -Cash in bank (from cash disbursements) * Property, plant, and equipment -Accounts Payable * Prepaid expenses -Purchase Discounts * Leasehold improvements * Accounts payable * Manufacturing expenses * Selling and administrative expenses Processing Purchase Orders:
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Assignment #2: First Steps Educational Program 08/15/2013 Financial Accounting Professor: Dr. Wendy Achilles Abstract First Steps Educational Program is a program that will incorporate traditional educational methods and Montessori methods. The program will educate students from the age of 2 – 17 years old. Teachers will identify their learning styles early in the program and will create a program that best fits their
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revenues that are deducted from expenses to compute the net expenses or revenues for each function or program shown in the government wide statement of activities are: Charges for services; Program-specific operating grants and contributions; Program-specific capital grants and contributions 6. Interfund activities and balances reported in government wide financial statements are ISF operating statements and funds that buy services from ISFs report expenditures or expenses as a result of billings. 7
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Running head: Business Plan Part I- Business Vision Business Plan Part I- Business Vision Business Vision and Values As a new hire for a new startup company I have been tasked with recognizing and exploring a new business opportunity of creating a new product or service for my company. This new business opportunity will ultimately be presented to an executive team in a venture capital group for possible funding and execution. In exploring new opportunities, I believe
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a transaction is not documented as a liability or credit until the bill or payable expense is complete. However, according to the book Financial Accounting: Tools for Decision Making, the cash basis of accounting is generally “prohibited under generally accepted accounting principles because it does not record revenue when earned” (Kimmel, Weygandt, & Kieso, 2009, p. 164). This practice does not reflect expenses incurred which is also a violation of the matching principle. An example of cash basis
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University of Phoenix Material Patton-Fuller Community Hospital Statement of Revenue and Expense 2009 to 2010 Operating Budget Complete the Operating Budget. Assume the 2009 projections were realized. Use the 2009 budget and the 2010 budget assumptions to calculate expenses and income for 2010. The revenues have been completed for you. | | |2009 (Proj) |2010 Budgeted % |2010 Budget |2010 Operating Budget Assumptions
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reporting. The Allowance method (is GAAP) does properly match expenses with revenues and is in conformity with conservatism and can be applied in two different, yet similar ways: Income statement method—relies on an estimate based on a percentage of net credit sales. The balance in the allowance account at the end of the period is not taken into consideration. The percentage of net credit sales is debited to Bad debt expense and credited to the Allowance for bad debts accounts, no matter the
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