9 INTANGIBLE ASSETS PERSPECTIVE AND ISSUES Long-lived assets are those that will provide economic benefits to an enterprise for a number of future periods. Accounting standards regarding long-lived assets involve determination of the appropriate cost at which to record the assets initially, the amount at which to present the assets at subsequent reporting dates, and the appropriate method(s) to be used to allocate the cost or other recorded values over the periods being benefited. Under
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Response to Client Request II Charles Thornton, Christine Collins, Jose Rodriguez, Vanessa Van Kirk ACC 541 September 23, 2013 Sonja Wilson Response to Client Request II As requested, the staff has prepared a base analysis of the information you have requested. While the staff waits for the lawyer to determine the probability of a loss in this lawsuit, our staff has researched and prepared an analysis to help educate you and prepare you for the different outcomes. This includes how your accounting
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Objectives This case is intended to give realistic training in the use of accounting and financial statement for decision-making, use of concepts, language and the preparation of financial documents. To this end, you are expected to prepare in teams balance sheets, income statements and cash flow budgets/statement of cash flows deriving from your decisions. All decisions, notably production and sourcing volumes, are made on a yearly basis and, once decided on, are not modifiable. Although each team decides
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To: xxxxxxx From: xxxxxxx Date: October 9, 2013 Subject: Notes receivable from related parties While testing accounts receivable, it has come to my attention that there are some issues regarding notes receivable owed by family members of Mr. Sigar. Because these notes were issued to individuals directly related to Mr. Sigar, there are some additional considerations that must be taken into account when recording and classifying these notes. According to FASB accounting standards codification
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Business Accounting 10 Key concepts of accounting Done by-Bemnet A.Mamo ID number-B0129FSFS0813 School of Business and Law 10/15/2013 Contents * Introduction……………………………………………. 2 Going concern……………………………………….. 3 Consistency……………………………………………. 3 Prudence……………………………………………….. 4 Accruals…………………………………………………. 4 Objectivity……………………………………………… 5 Realization…………………………………………….. 5 Dual aspect……………………………………………
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Financial Statement Ratios Activity ratios: Indicate efficiency and effectiveness of operations and asset management Asset Turnover: Sales Average Total assets Inventory Turnover: COGS Average Inventory Days in inventory: 365 Inventory turnover Accounts Receivable turnover: Credit sales Average accounts receivable Days in Receivables: 365 A/R Turnover Accounts payable turnover: Credit purchases Average Accounts payable
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Bit Inc. and above shows their cash inflow and out flow from operating, financing and investing activities. First of all as you can see their cash increase was more than their cash outflow of $16,000 which did resulted in the end of a cash closing balance of $40,000. They are being supported directly by long term debt and the sale of common stock that is a combine total of $32,000. Their debt will get bigger if they don’t
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Management ACCT 551 Course Project Notes to Financial Statements Table of Contents I. Cover Page 1 II. Table of Contents Page 2 III. Tropical Pool Cleaning Income Statement Page 3 IV. Tropical Pool Cleaning Balance Sheet Page 4 V. Notes to Financial Statements Page 5 VI. Reference Page 9 Notes to Consolidated Financial Statements NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 1. Nature of Operations Tropical
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CENTRE FOR CONTINUING EDUCATION EXECUTIVE MBA (POWER MANAGEMENT) BATCH: _______________________ SEMESTER: _______________________ NAME: _______________________ SAP NO/REGN NO: _______________________ ASSIGNMENT – 1 FOR Power Industry Accounting MBPF 911 Last date for submission: 15th Mar.2013 UNIVERSITY OF PETROLEUM & ENERGY STUDIES [pic] Section A Write
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Custom Snowboards Inc. A1: Key Points Looking at the Balance Sheet Horizontal Analysis for Custom Snowboards, the Total Current Assets increased from year 12 to year 13 by $178,080 or 23.6%. This includes Cash and Cash Equivalent increasing by $138,171. This shows there was an increase in Sales and some Accounts Receivable being collected. Bankers are interested in this account as it shows them how the company is doing in Sales. Short Term Investments increased by $30,000, which tells me
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