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Illustrate the cases of financial accounting
?Enron, an energy-trading business which is based in Texas, and was accused of entering into complicated financial arrangements in an attempt to obscure losses and to inflate profits
?WorldCom, a major long-distance telephone operator in US that was accused of reclassifying $3.9 billion of expenses so as to falsely inflate profit figures that business reported to its owners (shareholders) and to others.
Q. What do you mean by Contingent liabilities? Contingent liabilities -- liabilities which are not recorded on a company's financial reports though whichmight become due. If a
Using the data from the Dell Computer annual report determine how Dell calculated the four days' supply of raw materials. Do you think four days'supply is a valid
Question 1 Write a short note on the following with example a. Activating budgets b. Reversing journals c. Memorandum vouchers d. Optional vouchers e. Creating Bill of Materials
WHAT ARE THE CHARACTERISTICS OF ASSETS
on which shares pre acquisiton dividend received
Q. Explain about Going-concern concept? Except strong evidence exists to the contrary accountants assume that the business entity will continue operations into the indefinite
Because of the large number of accounting scandals that involved misclassification on the balance sheet, FASB has paid particular attention to classification of cash and receivable
Q. How to determine inventory cost? To place the proper evaluation on inventory a business must answer the question: Which costs must be included in inventory cost? After that
Define the term- FICA TAX This is a matching tax paid equally by employee and employer. Two parts-OASDI and HIP. Current rate for OASDI is 6.2% on the first $102,000 earned
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