Accountant uses significant judgement in valuation of assets

Assignment Help Financial Accounting
Reference no: EM13864505

The accountant uses significant judgement in the valuation of assets. How does the accountant use estimates and judgement in the valuation of long term assets? Is it ethical for an accountant to use estimates and varying methodology to achieve desired corporate results? 250-500 word count.

Reference no: EM13864505

Questions Cloud

The total and per-unit costs of manufacturing the gas cooker : Hickory Grill Company manufactures two types of cooking grills: the Gas Cooker and the Charcoal Smoker. The Cooker is a premium product sold in upscale outdoor shops; the Smoker is sold in major discount stores. Determine the total and per-unit costs..
Natural convection and forced convection : Problem 1: (a) Give three examples of each of natural (free) convection and forced convection which occur in industrial processes.
Principles of the effective management of individual change : Discuss how your personal learning relates to general principles of the effective management of individual change. You should finish with an outline of your plans for changes that you will make to help you to achieve your future personal and caree..
Prepare the journal entries for the transactions : Daisy’s Home is a shelter for abandoned golden doodle dogs. The shelter cares for the golden doodles until adoption is secured. The non profit is in its first year of existence. Prepare the journal entries for the following transactions. A fund drive..
Accountant uses significant judgement in valuation of assets : The accountant uses significant judgement in the valuation of assets. How does the accountant use estimates and judgement in the valuation of long term assets? Is it ethical for an accountant to use estimates and varying methodology to achieve desire..
Partnerships capital balances : Gibbs, Cook, and Chan are partners and share income and loss in a 5:1:4 ratio. The partnership's capital balances are as follows: Gibbs, $606,000; Cook, $148,000; and Chan, $446,000. Gibbs decides to withdraw from the partnership, and the partners ag..
The chocolate company had the transactions : The Chocolate Company had the following transactions during January 2014: A customer that had an account receivable with the company in the amount of $10,000 called and said they could not pay on time. You, the CFO, told them they could pay it all ba..
Explain how a well-designed accounting information system : Explain how a well-designed Accounting Information System can help university management in taking strategic decisions reducing the impact of the perfect storm
Summarize the business and business problem : Problem Definition (1 page maximum) summarize the business and business problem, explain why the selected process needs attention

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate total stockholders equity at end of year

Understanding financial statement relationships Total assets were $48,000 and total liabilities were $27,000 at the beginning of the year. Net income for the year was $8,000, and dividends of $2,000 were declared and paid during the year. Required: C..

  Explain what the following statement by handel 1982 p 36

explain what the following statement by handel 1982 p. 36 means and provide an argument to either support or oppose the

  Considering the purchase of a new bottling machine

Caine bottling corporation is considering the purchase of a new bottling machine. The machine would cost $200,000 and has an estimated useful life of 8 years with zero salvage value. Management estimates that the new bottling machine will provide net..

  Determine cvs gross profit

CVS Corporation operates drugstores throughout the United States, selling prescription drugs, general merchandise, cosmetics, greeting cards, food, and beverages.

  When does the project achieve payback

A company is considering investing $350,000 in surface land rights and $600,000 in a steel warehouse building with both costs incurred at time zero. Manufacturing equipment costing $400,000 would be installed at time zero to generate carwash units to..

  Harvey alexander an all-league professional football player

harvey alexander an all-league professional football player has just declared free agency. two teams the san francisco

  Illustrate what would be the gain or loss on the redemption

Ervay Company has $750,000 of bonds outstanding. The unamortized premium is $10,800. If the company redeemed the bonds at 101, illustrate what would be the gain or loss on the redemption?

  Cost of goods sold increased by a specific dollar

Multiple choice question based on share valuation -  Which of the subsequent would be most likely to reveal that cost of goods sold increased by a specific dollar amount during the year?

  Determine present value that harding can borrow fund

Make one lump-sum payment of $1,560,000 two years from date of purchase. Determine present value, assuming that Harding can borrow funds at an 4% interest rate.

  Question evaluate the price of bonds issuance effective

question evaluate the price of bonds issuance effective interestthe bradford company issued 10 percent bonds dated

  Margin of safety and the degree of operating leverage

What information provided by a variable costing income statement is used in computing the break-even point? Is this information on an absorption costing income statement? Explain your answer? Define and explain the relationships between margin of saf..

  How many ounces of plastic resin should mate plan

How many ounces of plastic resin should Mate plan on purchasing during the month of October - Mate Boomerang Corporation manufactures and sells plastic boomerangs

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd