manufactured by either two methods; they are capital intensive method and labor intensive method. I believe that the best method is labor-intensive method. In order for Martinez Company to succeed, it is important for managers to gain knowledge on accounting. Accounting skills can be used not only to calculate payroll or the revenues generated by the sale of some products; it also can be used also to forecast inventory
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a liability settled between knowledgeable, willing partners in an arm’s length transaction. Such a policy must be applied to all asset of a particular class. It would therefore be acceptable for an entity to revolve free hold properties every three (3) years. The revaluation must be made with sufficient regularity to ensure that the carrying value does not differ materially from market value in subsequent years. A surplus on revaluation would be recovered as a reserve movement not as income. DERIVATIVE
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Examination TABLE OF CONTENTS Examinaton: Instructions ........................................................................................ 1 Management Accounting ................................................................... 2 Corporate Finance ........................................................................... 20 Financial Accounting........................................................................ 25 Taxation ..................................................................
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environment. PROFESSIONAL BACKGRAUND: YEAR 2014 CPA PART III: SECTION UNITS COVERED SECTION 6 Advanced Taxation Advanced Auditing and Assurance Advanced Financial Reporting UNITS COVERED SECTION 5 YEAR 2014 CPA PART III: SECTION 5 YEAR 2013 CPA PART II: SECTION 4 UNITS COVERED SECTION 4 ÿ Taxation ÿ Company Law ÿ Quantitative Analysis Year 2012 CPA PART II: SECTION 3 SECTION 3 ÿ Financial Reporting. ÿ Financial Management. ÿ Management Information Systems
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separate units of accounting? • Yes, it is a multiple element arrangement since it is a sales arrangement that involves delivery of multiple products and services over extended period of time. • The following would quality for separate units of accounting: a. Equipment b. Installation c. Maintenance & Support 2. If the arrangement consists of more than one unit of accounting, how should the arrangement fee be allocated between the separate units of accounting? Assume
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RESPONSIBILITY ACCOUNTING Management Accounting - Responsibility Accounting Planning & control are essential for achieving good results in any business. Firstly, a budget is prepared and, secondly, actual results are compared with budgeted ones. Any difference is made responsibility of the key individuals who were involved in (i) setting standards, (ii) given necessary resources and (iii) powers to use them. In order to streamline the process, the entire organization is broken into various
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Question 1 3 out of 3 points Correct Radio Moscow Industries purchased supplies for $1,000. They paid $400 in cash and agreed to pay the balance in 30 days. The journal entry to record this transaction would include a debit to an asset account for $1,000, a credit to a liability account for $600. Which of the following would be the correct way to complete the recording of the transaction? Answer Selected Answer: Credit an asset account for $400. Correct Answer: Credit an asset account
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The Balanced Scorecard: Judgmental Effects of Common and Unique Performance Measures Author(s): Marlys Gascho Lipe and Steven E. Salterio Source: The Accounting Review, Vol. 75, No. 3 (Jul., 2000), pp. 283-298 Published by: American Accounting Association Stable URL: http://www.jstor.org/stable/248614 . Accessed: 11/03/2014 05:15 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR
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(Explicit and Implicit Costs) Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit? Why or why not? Amos McCoy is not currently making an economic profit, despite the fact that he is making an accounting profit. This is so, because the accounting profit calculation does not take into account an important implicit cost—the opportunity cost
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The independence of internal auditing in China Term Paper Advanced Auditing February, 15 * The independence of internal auditing in China Abstract China’s rapid economic growth boosted its accounting system that has evolved at a singular rate. The national government encourages foreign investors to participate in the domestic capital market actively. The government also strictly supervises the different national economic activities; as a result, the credibility of the auditing system
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