corporations voting stock. This method reports a single set of financial statements for the consolidated entity, which carries the name of the parent company. 9. Changes in Accounting Principles – include most changes in accounting methods, such as from FIFO to average cost for inventory and from one method to another for revenue or an expense. For these
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as with property and equipment. This suggests that the accounting is conservative. Revenue is only recognized when the service/product is delivered and is calculated on a net basis, which is a good indicator of high quality earnings. The firm uses FIFO assumption for inventory and straight line depreciation for long-lived assets. While these assumptions don’t produce the highest quality earnings, they are common measures. However, we should note that the depreciation period for buildings (39 years)
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18-10 | b | | 18-16 | c | 18-11 | c | | 18-17 | b | 18-12 | a | | 18-18 | b | 18-13 | a | | 18-19 | b | 18-14 | a | | 18-20 | c | 18-15 | a | | 18-21 | c | 18-22 a. The auditor would issue an
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| | | |m.subramani |Objective | | |To acquire a set of skills for self-development and for the growth of the Organization through
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Question 1.1. (TCOs A, B, and C) Which of the following statements concerning users of accounting information is incorrect? (Points : 3) | The marketing vice president is considered an internal user. Present and prospective creditors are considered external users. Regulatory authorities, such as the SEC, are considered internal users. The IRS is considered an external user. | Question 2.2. (TCO C) Paying cash dividends is an example of a(n) (Points : 3) |
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focused on the literature whereas under IFRS, the review of the facts pattern is more through. Investopedia states another difference between GAAP and IFRS is that under IFRS, LIFO cannot be used, but GAAP; companies have the choice between LIFO and FIFO. The convergence of accounting standards refers to the goal of establishing a single set of accounting standards that be used internationally, and in particular the effort to reduce the differences between the US Generally Accepted Accounting Principles
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EXECUTIVE SUMMARY As every business concern irrespective of its size, nature, and age needs an adequate concentration on its supply chain to carry out regular business operations and survive in the international competition. A supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product
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follow different approaches for the determination of specific amounts as well as how these amounts are recognized in financial statements and within the notes. One of these instances occurs in the measurement of inventory. Unlike GAAP which accepts the FIFO, LIFO, and weighted-average methods, IFRS does not accept LIFO. Also, when inventory is recorded on the balance sheet, IFRS requires that it be reported at the lower of historical cost or Net Realizable Value. GAAP, on the other hand, requires inventory
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Chapter 5: CPU Scheduling Operating System Concepts – 8th Edition Silberschatz, Galvin and Gagne ©2009 Chapter 5: CPU Scheduling Basic Concepts Scheduling Criteria Scheduling Algorithms Thread Scheduling Multiple-Processor Scheduling Operating Systems Examples Algorithm Evaluation Operating System Concepts – 8th Edition 5.2 Silberschatz, Galvin and Gagne ©2009 Objectives To introduce CPU scheduling, which is the basis for multiprogrammed operating
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Textbook Exercises Semana 5 – individual University of Phoenix Prof. Oscar Rosario-Figueroa 12 de enero de 2012 Textbook Exercises Para la realización de esta asignación se realizaran los trabajos de pregunta y ejercicios asignados en el del libro de la contabilidad financiera, de los siguientes ejercicios del capítulo 7, y 8. Pregunta 1 y 2, y el ejercicio E8-5, respectivamente. 1. (a) ¿Cuáles son los principios generalmente aceptados de contabilidad (GAAP)?. La profesión de contable
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