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An accountant must be familiar with the concepts involved in determining earnings of a company. The amount of earnings reported for a company is dependent on the proper recognition, in general, of revenue and expense for a given time period. In some situations costs are recognized as expenses at the time of product sale; in other situations guidelines have been developed for recognizing costs as expenses or losses by other criteria.
1) Explain the rationale for recognizing costs as expenses at the time of product sale.
2) What is the rationale underlying the appropriateness of treating costs as expenses of a period instead of assigning the costs to an asset? Explain.
3) Some expenses are assigned to specific accounting periods on the basis of systematic and rational allocation of asset cost. Explain the underlying rationale for recognizing expenses on the basis.
(a) Determine the annual net operating cash flows (OCF) generated by the machine. (b) What is the depreciation tax shield? c) Suppose the required rate of return is 12 percent, and the life of the project is 10 years. What is the project's NVP?
With very little in the way of exceptions, the common law required no writing or signature to enter into a contract. The overwhelming number of contracts were verbal or oral contracts. What is the more common practice today?
Last five years, National Widget company has had a PE ratio of 23. The company's current market price is $43 per share. The company announced todat that its EPS for the past year was $1.80.
If the firm pays 14% for these resources, by how much would it increase its annual profits by favorably changing its current cash conversion cycle by 20 days?
Which of the following statments concerning the change in working capital is most accurate?
Explain trend of interest rates and describe the trend of interest rates over the last several years
Similarities as well as Differences between the goal in throughput costing and Activity Based costing
Notice that the projects have the same cash flow timing pattern. Why is there a conflict wetween NPV and IRR?
A Treasury bond that matures in 10 years has a yield of 4.5%. A 10-year corporate bond has a yield of 7.5%. Assume that the liquidity premium on the corporate bond is 0.25%. What is the default risk premium on the corporate bond?
Suppose the U.S. interest rate is 7.5%, the New Zealand interest rate is 6.5%, the spot rate of NZ$ is $.52, and the one year forward rate of the NZ$ is $.50. At the end of the year, the spot rate is $.48. Based on this information, what is the ef..
Thomson Engineering is issuing new 30-year bonds that have warrants attached. Which have a par value of $1,000. What is the value of the straight-debt portion of the bonds?
Compute the difference in monthly payments on a $100,000 mortgage, 30-years at 97 percent interest rate and a $100,000 mortgage, 15-years at 8.5 percent interest rate.
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