| |Must comply with generally accepted accounting principals. |Need not comply with generally accepted accounting principles| | |Internal cost-benefit evaluation deter-mines how much | | |information is enough. | |Uses historical data. |May use
Words: 4641 - Pages: 19
GROUP CASE 10-1 1. From the documents of "Deliverables" on blackboards, although the words “deliverable” did not have a clear definition, there are lots of potential deliverables that entities may considering. We can find that in the case 10-1 SolvGen Inc., the selling of proprietary instrument systems, which is under the five-year license and distribution agreement, is a deliverable. From the case we know that Careway will have the right to market and distribute the proprietary instrument systems
Words: 1076 - Pages: 5
for Competition Bikes that was taken from balance sheets and income statements from years 6, 7 & 8. A1a. Horizontal Analysis Strengths Net Sales – totaled $4,485,000.00 for year 6, and grew +33.3% or $1,495,000.00 between years 6 to 7. Cost of Goods Sold – totaled $3,294,000.00 for year 6, and from years 6 to 7 grew +32.8% or $1,048,000.00. Sales Commissions – totaled $134,550.00 for year 6, and from years 6 to 7 grew +33% or $44,850.00. Gross Profit – totaled $1,191,000.00 for year 6, and
Words: 6553 - Pages: 27
APPLE INC. Ryan Plumbo ACC 205 Thomas Sutton 7 Dec 14 The decision to invest in a company is an important one. When investing your money into the free market there is never a guarantee on investment. That is why a little bit of research and due diligence is always recommended beforehand. It is the hope that with this knowledge our investment will have a better chance at returning a profit. The company we will be looking at in this report is the tech giant Apple Inc. or to most just known
Words: 1438 - Pages: 6
in 1984. * Allowance for doubtful accounts receivables decreased from $6.4 million in 1983 to $5.9 million in 1984 or from 10% of sales to 6.7% of sales respectively. * Starting November 1, 1983, products purchased from Kobe Steel, Ltd. and sold by the Corporation were included in its net sales. Prior, only gross margin on Kobe equipment was included. The effect of this change was the increase of $28.0 million in sales. * Research & Development
Words: 881 - Pages: 4
C H A P T E R 2 CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING LEARNING OBJECTIVES After studying this chapter, you should be able to: •1 •2 •3 •4 Describe the usefulness of a conceptual framework. Describe efforts to construct a conceptual framework. Understand the objective of financial reporting. Identify the qualitative characteristics of accounting information. Define the basic elements of financial statements. •6 •7 Describe the basic assumptions of accounting. Explain the
Words: 22128 - Pages: 89
Chapter 1 Environment and Theoretical Structure of Financial Accounting AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools, departments, and faculty may approach assessment and its documentation differently, one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor, we have labeled each question, exercise and problem in Intermediate Accounting
Words: 7572 - Pages: 31
Chapter 11: Reporting and Interpreting Stockholders’ Equity * Corporate Ownership * Shares of stock can be purchased in small amounts. * Ownership interests are transferable. * Stockholders are not liable for the corporation’s debts * Common stock – the basic voting stock issued by a corporation to stockholders. * Voting rights * Dividends * Residual claim – if the company ceases operations, stockholders share in any assets remaining after
Words: 3624 - Pages: 15
ACCT 304 Week 4 DQ 1 Revenue Recognition ACCT 304 Week 4 DQ 2 Time Value of Money Concepts ACCT 304 Week 5 DQ 1 Cash ACCT 304 Week 5 DQ 2 Receivables ACCT 304 Week 6 DQ 1 Inventory Classification and Systems ACCT 304 Week 6 DQ 2 Inventoriable Costs Cost-Flow Assumptions ACCT 304 Week 1 Homework Assignments Chapter 1: E 1-7 , Research Case 1-4 Chapter 2: E 2-4, E 2-8, E 2-12 ACCT 304 Week 1 Quiz 1. (TCO 1) Which of the following was the first private sector entity that set accounting
Words: 2554 - Pages: 11
Office P.O. Box 4410 Naperville, Illinois 60567-4410 (630) 961-3900 Fax: (630) 961-2168 www.sourcebooks.com www.sphinxlegal.com This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. From a
Words: 156997 - Pages: 628
