Junior Philippine Institute of Accountants Philippine School of Business Administration-Manila Accounting 1 Mid-term General Evaluation I. Theories 1. During the lifetime of an entity, accountants produce Financial Statements at arbitrary points in time in accordance with which basic accounting concept? a. Objectivity c. Matching Principle b. Periodicity d. Conservatism 2. The debit and credit analysis of a transaction normally takes
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INTRODUCTION This report consists of 5 reflections related to auditing standards and each case was extracted from internet sources. The purpose of this report is to reflect and understand each case. REFLECTIONS First reflection is on China sky case for its non-compliances with SGX. Next is the case on corporate governance where new rules were proposed to improve risk management and risk control. Third will be the extracted information of executives’ compensation in
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Financial Statement Analysis of WIPRO LIMITED Prepared By: Ajay Dixit Abhishek Jain Megha Kumar Sandesh Gundale : pgpex 8/7 : pgpex 6/7 : pgpex 28/7 : pgpex 41/7 CONTENTS 1 FACT SHEET .................................................................................................................................. 1 1.1 1.2 2 3 SHARE PRICE INFORMATION ........................................................................................................ 1 STOCK PERFORMANCE ...........
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Balance Sheet - the information it provides | A typical balance sheet would look something like this. Balance Sheet of M/s Free Flow Fluids as on 30th June 2007 | Liabilities | Amount | Assets | Amount | Eq. Share Capital Pr. Share Capital Reserves and SurplusCapital Reserve General Reserve Share Premium Retained Earnings (P/L Appr.) Other ReservesLong Term Loans Fixed Deposits Collected Debentures Provisions for Taxation Provisions for Dividends Outstanding Expenses
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2010 Operating Budget Projection HCS/577 29 July 2013 2010 Operating Budget Projection Based upon a review of the Patton Fuller Community Hospital 2009 operating budget variances, the long and short term plans of the various hospital departments and an in depth analysis of general economic conditions, the following assumptions have been concluded and will be used in the preparation of the 2010 operating budget projections. Patton Fuller Community Hospital should anticipate
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Herman Miller, Inc. is a company that specializes in the production and manufacture of modern office furniture. The company began its reputation through product innovation and production processes which started in the 1920’s. In the path of their success, Herman Miller, Inc. has been able to pursue a path distinctively marked by reinvention and by renewal. I would say that in the beginning the company pursued a focused low-cost strategy. The initial items the company specialized in, is what the company
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Increase liabilities and increase paid-in capital. D. Have no effect on total assets. A journal entry recording an accrual: Answer A. Results in a better matching of revenues and expenses. B. Will involve a debit or credit to cash. C. Will affect balance sheet accounts only. D. Will most likely include a debit to a liability account. Which of the following is not a transaction to be recorded in the accounting records of an entity? Answer A. Investment of cash by the owners. B. Sale of product
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Queensland University of Technology Faculty of Business School of Accountancy AYN411 Audit & Assurance – Semester 1, 2013 Final Exam Revision Questions Additional Resources AYN411 Audit & Assurance – Semester 1, 2013 Final Exam Revision Questions Additional Resources Final Exam Revision QUESTION 1 – Audit Planning a. The Auditing Standard ASA 300 ‘Planning an Audit of a Financial Report’ states that the auditor needs to plan the audit so it will be performed
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Pinnacle Manufacturing: A Case Study Auditing 444 Course Project Professor Ranauto August 4, 2013 Pinnacle Manufacturing: A Case Study Part 2. Section A. External users’ reliance on financial statements. * Situation 6.: Raising debt to finance a manufacturing plant for Solar-Electro. * Situation 11.: An intercompany loan to Solar-Electro from Welburn skews the financial statements. Likelihood of financial difficulties. * Situation 1.: Solar-Electro may not have
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Linh Hoang ACCT 322-001 GAAP Research Part I Professional Research: FASB Codification Chapter 11 a. What is the authoritative guidance for asset impairment? Briefly discuss the scope of the standard (i.e., explain the types of transactions to which the standard applies) The authoritative guidance for asset impairment is to ensure that impairment is recorded and dealt with as depreciation. The scope of the standard is writing off of assets and depreciation. According to the guidance of 360-10-35
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