Taj Distillers Business Plan Name: Course: Professor’s Name: University: City (State): Date: EXECUTIVE SUMMARY Taj distillers are a start-up retail location in Bend, Oregon that gives intriguing stock alternatives at deal costs. Financing will originate from the private speculations of proprietors Ted Brinkman. They will give a value that will be cleared toward the end of 36 months. Profits will be paid quarterly on the extraordinary value.
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Unit 1 Introduction to Financial Accounting Learning Outcome After reading this unit, you will be able to: • Explain succinctly financial accounting concepts • Elucidate on different principles of financial accounting • Explicate the importance and scope of financial accounting • Understand Generally Accepted Accounting Principles(GAAP) • Identify limitations of Financial Accounting Time Required to Complete the unit 1. 2. 1st Reading: It will need 3 Hrs for reading a unit 2nd Reading
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…………………………………………………………………………………………… 8 Abstract There have been lots of discussions about principle and rule based accounting approaches, mostly people view U.S GAAP as rule based and IFRS as principle based. In this paper we will examine advantages and disadvantages or both approaches. Finally which is more applicable in real world settings. Introduction After incidents like recession, there have been discussions about principles based versus rules based among accountants, governments
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wise for Umlazi Traders to settle its accounts with Sharpe Wholesalers? ................................................................................7 2.2 Trojan Manufacturing 2.2.1 Calculate the value of inventory as at 31 December 2011 using LIFO method ..................8 2.2.2 Calculate the value of inventory as at 31 December 2011 using weighted average method.................................................................................................................................
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1. Which of the following is not a current liability on December 31, 2014? • A lawsuit judgment to be decided on January 10,2015 • A Note Payable due December 31 2015 • Accrued salaries payable from 2014 • An Accounts Payable due January 31,2015 2. Continuous monitoring, in the contemporary approach, is beneficial because_____________. • it increases the time it takes to detect changes in the competitive environment • organization response time is increased • organizational flexibility
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Solutions to Problems and Exercises Table of Contents Chapter 1 5 CA 1-4 5 CA 1-6 5 CA 1-8 6 CA 1-10 7 CA 1-12 8 CA 1-17 9 Chapter 2 10 CE2-2 10 CE2-3 10 EXERCISE 2-2 11 EXERCISE 2-3 12 EXERCISE 2-4 13 CA 2-4 13 Chapter 3 15 EXERCISE 3-6 15 EXERCISE 3-10 16 EXERCISE 3-13 19 EXERCISE 3-15 19 EXERCISE 3-20 20 Chapter 4 22 PROBLEM 4-1 22 PROBLEM 4-3 25 PROBLEM 4-5 27 PROBLEM 4-7 29 Chapter 5 31 PROBLEM 5-2 31 PROBLEM 5-4 34 Chapter 6 37 EXERCISE 6-3 37 EXERCISE
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Unit 1 Introduction to Financial Accounting Learning Outcome After reading this unit, you will be able to: • Explain succinctly financial accounting concepts • Elucidate on different principles of financial accounting • Explicate the importance and scope of financial accounting • Understand Generally Accepted Accounting Principles(GAAP) • Identify limitations of Financial Accounting Time Required to Complete the unit 1. 2. 1st Reading: It will need 3 Hrs for reading a unit 2nd Reading
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Solutions to Problems and Exercises Table of Contents Chapter 1 5 CA 1-4 5 CA 1-6 5 CA 1-8 6 CA 1-10 7 CA 1-12 8 CA 1-17 9 Chapter 2 10 CE2-2 10 CE2-3 10 EXERCISE 2-2 11 EXERCISE 2-3 12 EXERCISE 2-4 13 CA 2-4 13 Chapter 3 15 EXERCISE 3-6 15 EXERCISE 3-10 16 EXERCISE 3-13 19 EXERCISE 3-15 19 EXERCISE 3-20 20 Chapter 4 22 PROBLEM 4-1 22 PROBLEM 4-3 25 PROBLEM 4-5 27 PROBLEM 4-7 29 Chapter 5 31 PROBLEM 5-2 31 PROBLEM 5-4 34 Chapter 6 37 EXERCISE 6-3 37 EXERCISE
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Chapter 12 - S CorporationsChapter 12 - S Corporations Student: ___________________________________________________________________________ 1. The alternative minimum tax may apply to an S corporation. True False 2. The alternative minimum tax does not apply to an S corporation. True False 3. Liabilities affect owners’ basis differently between a partnership and an S corporation. True False 4. An S election allows shareholders to realize tax benefits from losses immediately
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There are various methods for carrying the inventory. One is the perpetual method is a continuous record of the inventory items. One of its usefulness is that it allows preparing monthly financial statements, quarterly or provisionally. Another advantage is that you can know the value of the inventory without the need for physical inventories; it gives you insight companies to have knowledge of missing merchandise. Knowing the amount of material available helps
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