| | | | | | | | | | | | | | | | | | $ | | | | | | : | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Question 2 | | Match the statement with the term most directly associated with it. 1. | | | | Rights, privileges, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance. | | | | | | 2. | | | | The allocation
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Cassandra Lang BA510-1A-78 Financial Accounting Theory & Analysis Week 6 Case 9-6 a. Capital expenditure can be defined as expenditure incurred on the purchase, alteration or improvement of fixed assets. These expenditures last for a long period of time and permanently increase the profit making capacity of the business. Capital expenditures appear in the balance sheet as an increase to the value of assets. For example, the purchase of a car to be used to deliver goods is capital expenditure
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ACC/561 January 21, 2013 Professor Willard Berry Financial statements provide crucial information to management, investors, and creditors. These statements include four documented forms 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
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1. The characteristics of the corporate form of business. 2.About the term "cash dividend". Basic Accounting Equation Assets = Liabilities +Stockholders’ Equity * Investments by stockholders and revenues increase stockholders’ equity (credit). * Dividends and expenses decrease stockholder’s equity (debit). * The purpose of earning revenues is to benefit the stockholders. * The effect of debits and credits on revenue accounts is the same as their effect on stockholders’
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Ozone processor -This is considered as property, plant & equipment f) Cash in hand - The owner's investment in the business g) Knowledge in the field - This is considered as asset too as the knowledge in rearing empurau will bring in more profit 3. Every year The company intends to invest RM1 million per year for the next three years and plough back its profit to fund expansion of the farm’s infrastructure. Is profit cash? Explain. What accounting information would be useful to help LTT management
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QUESTIONS AND PROBLEMS 1. P.V. Ltd. Income Statement for Year 2 Accretion of discount (10% × 286.36) $28.64 P.V. Ltd. Balance Sheet As at Time 2 Financial Asset Cash $315.00 Shareholders’ Equity Opening balance Net income Capital Asset Present value 0.00 $315.00 $315.00 $286.36 28.64 Note that cash includes interest at 10% on opening cash balance of $150. 2. Suppose that P.V. Ltd. paid a dividend of $10 at the end of year 1 (any portion of year 1 net income would do). Then, its year 2 opening
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|Multiple Choice Answer Sheet | | | |Name | | |Marks | |Student No. |
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need a non-programmable calculator Academy of Finance MBA Program - Business Information Management 2 Study material Lecture notes Classroom exercises Building up an extended trial balance Inventory costing Vinafarms example (IAS 7 cash flow statement) Sample exams and additional exercises Textbook Academy of Finance MBA Program - Business Information Management 3 Accounting concepts The main accounting concepts Going concern Accruals/Matching Consistency Business Entity Duality
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Controls’ balance sheet and income statement for 2013. Before she could complete the statement of cash flows, she had to leave town to attend to a family emergency. Because the full set of statements must be provided to the auditors today, Addison’s president, Lance Meyers, has asked you to prepare the statement of cash flows. Meyers has provided you with the balance sheet and income statement that Petusky prepared, as well as some notes she made: Addison Controls Income Statement For the Year Ended December
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Statement of Cash Flows Statement of Cash Flows Accounting is the major means of organizing and summarizing information regarding economic activities. The information provided by the accounting practices through financial reporting helps decision makers make appropriate business decisions. The statement of cash flows is one of the three primary financial reports that companies should include in external financial reports to its users according to the generally accepted accounting principles
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