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Your supervisor at YOUCPA wants to know what you think about the proposed change from GAAP to IFRS in the United States and how it will impact revenue recognition.
• Describe the methods of revenue recognition under each of the following:
o U.S. GAAP
o IFRS
• Describe 1-2 ways in which these 2 methods differ.
• Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not?
dougs custom construction company is considering three new projects each requiring an equipment investment of 22000.
in preparing its bank reconciliation for the month of april 2012 delano inc. has available the following information.
Consider an asset that costs $780,000 and is depreciated straigh-line to zero over its eight-year tax life. The aset is to be used in a five-year project; at teh end of the project, the asset can be sold for $135,000. If the relevant tax rate is 3..
consider p. ltd a one-asset firm with no liabilities. assume that the asset will generate end-of-year cash flows of 300
What are the tax consequences to Checker and to Bailey if Bailey is an individual and the distribution is treated as a dividend?
discuss this weeks objectives with your team sharing related research connections and applications made by individual
Prepare an incremental analysis for thesell or process further decision. Should Donkey sell or process further? Why or Why not?
At the beginning of the year, Elsie's basis in the E&G Partnership interest is $60,000. She receives a proportionate nonliquidating distribution from the partnership consisting of $10,000 of cash, unrealized accounts receivable
The following data relate to direct materials costs for November: Actual costs 4,600 pounds at $5.50 Standard costs 4,500 pounds at $6.00 What is the direct materials quantity variance?
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gibbs company purchases sails and produces sailboats. it currently produces 1258 sailboats per year operating at normal
new lithographic equipment acquired at a cost of 800000 at the beginning of a fiscal year has an estimated useful life
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