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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?
The policy has a maturity value of $2,000,000. Matt dies first and the insurance proceeds are paid to Sandra. How much, if any, is included in Matt's gross estate?
Evaluate amortization for 2013 and prepare the journal entry to record the revaluation of the patent and evaluate amortization for 2014
illustrate what would be the consumers typical buying response to these products if their income was reduced by 30%? Suppose all carbonated beverages tripled in price.
Make a Flexible Budgeted Income Statement using Variable costing and Budgeted Income Statement and Flexible Budgeted Income Statement Variable Costing , Variance Analysis
Journalize the transactions and the adjusting entries - Recorded depreciation on the remaining truck. It has an estimated residual value of $15,000 and an estimated useful life of 10 years.
Briefly distinguish between financial and managerial accounting as they relate to (1) the primary users, (2) the type and frequency of reports
This association takes place in the CPU Assembly Department. The company freshly hired a new accountant who prepared the following report for the department for May using the weighted-average method
What is the difference between “simple interest” and “compound interest”? Illustrate which is better for the borrower and which is better for the lender?
What is the estimated variable cost per unit of Cutter's product and Comparing least-squares regression to high-low estimation.
Borrowing Needs and Preparation of Statement of Cash Flows
Outline the facts of the Centro (ASIC v. Healy) case and explain why ASIC took action against the six Centro non-executive directors. In your answer briefly discuss the role and responsibilities of nonexecutive directors. (1000 word maximum)
Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2009 and prepare a bond amortization schedule up to and including January 1, 2013, using the effective interest method.
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