2013 Project on “Working Capital” Sumit Singh Registration No:-016-1121-0250-10 Roll No: - 301-0063 B-com (Honours), 3rd year Syma Prasad College 1 [Type the author name] 1/1/2013 DECLARATION I am Sumit Singh Student of SYMA PRASAD COLLEGE Of B-com( Honours) 3rd Year hereby declare that the project report entitled Working Capital the outcome of my own work and the same has not been submitted to any University / Institute for the award of any degree. Sumit Singh Registration No:-016-1121-0250-10
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Chapter 8 Discussion Question #3, #5, and #11 3. The purchase method is used when one entity acquires another, whereas the pooling method accounts for the uniting of the ownership interests of two (or more) entities. The pooling-of-interest method provides distinct advantages to many firms entering into a business combination. The assets and liabilities of both parties are combined at book value and revenues and expenses are combined retroactively. With the purchase method
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4/24/2012 BUS 100 Jay Hosey What Are Financial Statements? Business owners use three basic financial statements to track the financial health of there businesses. These statements are the income statement, the cash flow statement, and the balance sheet. Business owners generally create these statements monthly using their financial records. The Income Statement An income statement is a financial statement used to show whether a business is generating a profit or experiencing a loss. This
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of this project is to provide an understanding on the process of impairment of assets and determining how it affects the financial statement and its users. B. The main purpose of standard IAS 36 is to ensure that the assets reported of Balance Sheet are recorded at no more than its recoverable amount. An asset or cash-generating unit will be considered impaired if the carrying amount is greater than the value of the sale of the asset or amount that could be recovered through use of the asset
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573,200 Taxable Income 3,710,060 Taxes (40%) 1,484,024 Net Income $2,226,036 Dividends ($2,226,036*0.30) $667,811 Add to Retained Earnings $1,558,225 Pro forma Balance Sheet Assets Liabilities and Stockholder’s Equity Current Assets Current Liabilities Cash ($396,900*1.12) $444,528 Accounts Payable ($844,550*1.12) $945,896 Accounts Receivable ($637,560*1.12) 714,067 Notes Payable
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Liabilities - Effects Of Capital Vs. Operating Leases Capital Leases - Effects On: • Balance sheet - At the inception of a capital lease, the company leasing the equipment will record the equipment as an asset, and the company will also recognize a liability on the balance sheet, by an amount equal to the present value of the minimum lease payments. The discount rate used will be the lower of the following two rates: The lessor's (the rental company's) implied rate The lessee incremental
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cash flow statement, balance sheet, retained earnings, and income statement. The information contained in the reports provides a detailed picture to the condition of any business. A business evaluation containing all four documents is essential to form an accurate forecast in past and future objectives. Each document allows creditors, investors, and managers’ ability to further understand the financial workings of an individual company. Balance Sheet A balance sheet shows the dollar value
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Worksheet for You Decide Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc. Solution: Since Smackey Dog Foods, Inc (“Smackey”) is not a publicly traded company, it would not be subject to SEC regulations and therefore would not need to file the required reports under the securities acts. It would however have indirect impact on the audit of Smackey due to the SEC’s influence in setting generally accepted accounting principles (“GAAP”), the
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Smith & Smith, LLC 456 West Ave. # 32 Anytown, AZ 12345 January 13, 2013 Apollo Shoes, Inc. 123 Main St. Anytown, AZ 12345 Dear Apollo Shoes, Inc. Management: It is with great pleasure that I introduce myself to you and say how pleased we are that you have chosen our firm for your auditing and assurance needs. My name is Paula Smith, and I am the Senior Auditor, in charge of your account. I will be working with you throughout the process of our engagement. I would also like
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FINANCIAL ACCOUNTING Fall 2012 Yvonne Hinson Work: 704-365-4710 Home: 704-765-9782 Cell: 336-407-0161 Email: hinsonyl@wfu.edu Course Description and Requirements The purpose of this course is to introduce you to the concepts, vocabulary and uses of Financial Accounting. As we proceed, we will adopt several different points of view. ← We will take the perspective of preparers of financial information. Preparers include accountants who work for companies that must produce
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