OBJECTIVES OVERVIEW LO1 LO2 LO3 LO4 LO5 Chapter 1 stressed the importance of the financial statements in helping investors and creditors predict future cash flows. The balance sheet, along with accompanying disclosures, proAfter studying this chapter, vides relevant information useful not only in helping you should be able to: investors and creditors predict future cash flows Describe the purpose of the balance but also in the related assessments of liquidity sheet and understand
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LECTURE ILLUSTRATIONS & ADDITIONAL ILLUSTRATIONS ONLY AVAILABLE ON CAPTIVATE Index of contents Page Budgets -Elvstrom Company (captivate only)..….………………………………….2 Budgets – Manx Pty. Ltd (captivate available)…………………………………..….4 CVP – Tarrant Ltd (captivate available)….………………………………..…..…...6 Make/Buy – Hobart Technology……………………….………..……..……………..7 Costing – Cravings for Cake (captivate available)..………………………….……..8 Recording–Henrys Hardware (captivate available).…….……………….….……10 Recording
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System in chapter 3. Dear Sir, We would like to take this opportunity to thank you for the guidance and support you have provided us during this course of this report. Without your help, this report would have been impossible to complete. To prepare the report we collected what we believe to be most relevant information to make our report as analytical and reliable as possible. We have concentrated our best effort to achieve the objectives of the report and hope that our endeavor will serve the
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CHAPTER 1 THE PROBLEM AND ITS SETTING I. Introduction As professionals, CPAs perform an essential role in society. They are responsible to all those who use their professional services. They also have a continuing responsibility to improve the art of accounting, maintain the public’s confidence, and carry out the profession’s special responsibilities for self-governance. However, the role of a CPA in helping businesses come up with a good and effective decision-making is said to be one
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ACCA Platinum Approved Learning Partner – content for FIA and ACCA qualifications. In this, the only FFA/F3 study text to be reviewed by the examiner: We highlight the most important elements in the syllabus and the key skills you will need We signpost how each chapter links to the syllabus and the study guide We provide lots of exam focus points demonstrating what the examiner will want you to do We emphasise key points in regular fast forward summaries We test your knowledge of what
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CHAPTER 1 THE PROBLEM AND ITS SETTING I. Introduction As professionals, CPAs perform an essential role in society. They are responsible to all those who use their professional services. They also have a continuing responsibility to improve the art of accounting, maintain the public’s confidence, and carry out the profession’s special responsibilities for self-governance. However, the role of a CPA in helping businesses come up with a good and effective decision-making is said to be one
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Accounting FOR DUMmIES 4TH ‰ EDITION By John A. Tracy, CPA Accounting For Dummies®, 4th Edition Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2008 by Wiley Publishing, Inc., Indianapolis, Indiana Published by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical
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Determine the interrelationship among the basic financial statements. Analyze the relationship between certain items in the balance sheet and the income statement with the help of ratio analysis. Evaluate the way that different assets, liabilities, and stockholders' equity items are presented in a balance sheet. Given an annual report, the student should be able to read, understand, analyze, and explain a B company’s Income Statement to other decision makers and use the knowledge and skills
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........................................................ 8 Cash Flow .............................................................................................................................................................................. 9 Discussion Point #2: Cash Flow Projection ...................................................................................................................... 10 Profit and Loss (P&L) Statement ..........................................................
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Electric 1. Prepare a sources and uses statement for the 2003-2004 forecasted results and for the 2003-2004 actual results. Ans.: The sources and uses statement for 2003-2004 forecasted and actuals are shown as below: Sources and use statement 2003-2004 Forecasted 2003-2004 Actual Variance Accounts Source Use Source Use Source Use Net income $65,000 68,800 3,800 Dividend 43,000 43,000 0 Depreciation 3,300 3,700 400 Cash 27,500
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