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Question: 1) Who do you think is to blame for all the fraud that has, and continues to occur in Revenue Recognition? Why do you believe that despite all the fraud that has been uncovered, executives arrested and jailed, and new laws, that nearly every week a new case of revenue fraud turns up in the news? Can it ever be prevented?
2) In the article in this week's weblinks, entitled "PCAOB Finds Deficiencies Galore", and inspection of the 8 largest audit firm's practices revealed continuing problems in the area of revenue recognition. Why do believe this is the case? Can they all be getting it wrong? What does this mean for the consistency and comparability of financial statements prepared under US GAAP?
ginvold co. began operating a subsidiary in a foreign country on january 1 2011 by acquiring all of the common stock
galos corporation uses the fifo method in its process costing system. the grinding department started the month with
barker company has a single product called a zet. the company normally produces and sells 80000 zets each year at a
DeWeese Corporation issues $400,000 of 8%, 5-year bonds on January 1, 2010, at 105. Assuming that the straight-line method is used to amortize the premium, what is the total amount of interest expense for 2010?
Determine the present value of the bonds at issuance. Assume that bonds are issues at the price computed in requirement 1. Prepare an effective-interest method amortizatio table for the firest two simiannual interest installments.
Prepare closing journal entries
Identify three potential sources of return to mutual fund investors and briefly discuss how each could affect total return to shareholders.
carolina catsup company produces catsup which it sells exclusively to fast-food restaurants in 5-gallon containers
The Cash Price of a machine was £1,200. D. George acquired it on 1st January, 1959, and paid a deposit of £400 on that day.
for each individual situation determine the amount that should be reported as cash. 1. checking account balance 937850
on january 1 2011 dean corporation signed a ten-year noncancelable lease for certain machinery. the terms of the lease
mini corp. acquires a patent from maxi co. in exchange for 3000 shares of mini corp.s 1 par value common stock and
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