statements. Proforma statements assist financial managers to plan accordingly, in terms of the company’s financial needs. How much financing is needed and when it is needed can be determined by acquiring an estimate of the company’s future balance sheet accounts and income statement. Hence, the purpose of the Proforma analysis is to forecast the company’s financial statements under a particular condition (Parrino et al., 2012). Subsequently, total assets must equate the sum of total liabilities and owner’s
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the performance, which is achieved when the risks and rewards are transferred and/or the earnings process is substantially complete. * The company has never signed a project with similar clause of an additional bonus, which means there is not historical record of how to record this item in their financial statements. * Percentage of completion method
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(Classifying) Final Account (Summarizing) Now Explain Steps:1 Recording:- This is the basic function of accounting. All business transaction, as evidenced by some documents such as Sale bill, Pass book, Salary Slip ect are recorded in the books of account. This is called recording process. 2. Classifying:- All entries in the Journal or books of Original Entry should be posted to the appropriate ledger accounts to find out at a glance the total effect of all such transactions in a particular account. 3. Summarizing:-
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Services Typically a large bank. Services include Cheque accounts, saving accounts, mortgage loans, investment loans, personal loans, credit cards, etc. Goal – to market more effectively to households. Build a household data warehouse to track accounts, account holders, and their household grouping. Financial Services Five years of monthly data for each account. For current month must
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YOUR NEXT QUIZ (ON TUE) WILL BE OVER ACCOUNTS AND NOTES RECEIVABLE AND FIXED ASSETS FOR ACCOUNTS RECEIVABLE: HOW TO CALCULATE AND RECORD BAD DEBTS FROM AN AGING SCHEDULE JOURNAL ENTRY TO FACTOR AN ACCOUNT RECEIVABLE WRITEOFF OF A BAD DEBT FOR NOTES RECEIVABLE KNOW HOW THEY DIFFER FROM ACCOUNTS RECEIVABLE FIXED ASSETS KNOW THAT STRAIGHT LINE, DECLINING BALANCE, MACRS AND UNITS OF ACTIVITY ARE ALL DEPRECIATION METHODS KNOW HOW TO CALCULATE STRAIGHT LINE AND DOUBLE DECLINING BALANCE DEPRECIATION
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overall budgets and Medicare budgets for each of the federal proposals, and also presents an argument against Congressman Ryan’s proposed Medicare budget. U.S “On-Budget” Surplus and Deficit Historical Data Presented below is the United States surplus and deficit data according to the historical tables provided by the Office of Management and Budget. * The United States on-budget has ran a deficit for the majority of the years between 1990 and 2011. * The years 1999 and 2000 both
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parts inventory is a critical component of an effective asset management program. If the right parts are not on hand when needed for routine maintenance or repairs, downtime is prolonged. If too many parts are on hand, the enterprise absorbs excessive costs and the overhead of carrying the inventory. There are tried and true strategies to manage spare parts in support of effective asset management, along with some that can be considered questionable, and a variety of new and innovative practices.
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parts inventory is a critical component of an effective asset management program. If the right parts are not on hand when needed for routine maintenance or repairs, downtime is prolonged. If too many parts are on hand, the enterprise absorbs excessive costs and the overhead of carrying the inventory. There are tried and true strategies to manage spare parts in support of effective asset management, along with some that can be considered questionable, and a variety of new and innovative practices. Advanced
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Earnings Management Study Oil & Gas Industry Abstract This study mainly focused on the earnings management in oil and gas industry and we used Jones model to detect discretionary accruals in the subject companies. Specifically, we examined three oil and gas sample companies that have been required to restate their financial reports due to the oil reserve overestimation. After running the regression and
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1. A) B) Executive Summary The most important factors that affect average costs of materials to produce the products of our company, which is the skill saw, electric drill, screwdriver set, and fire extinguisher. The managers in charge of production are key in order to meet deadlines and produce the right amount. The operational managers would begin to look at daily activities of the firms inventory, monitor performance of sales task force and as well as daily scheduling. The tactical managers
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