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By using the regulatory discussions and relevant international accounting standards (IASs) which are taught in the module APC311, you are required to provide a critical evaluation of the following areas of financial reporting.
i. Impairment of both tangible and intangible assets in accordance with IAS 36: Impairment of Assets
ii. Ways in which creative accounting activities are exercised in financial reporting and the extent to which the responses of UK and US legislators and standard setters have succeeded in minimising the scope for such activities.
Will the company make any adjustment because of the tax rate increase? If so, illustrate what will be the impact of the adjustment on 2011 tax expense and net income?
Explain how would you design the procedures to prevent the keying error in regards to payroll procedures and is there a way to automate this process?
1) Materials purchased through January 2) Cost of Goods Sold through January 3) Overhead applied through January 4) Underapplied and Overapplied overhead for January (you have to tell me both the amount and whether it is over or under for ..
Calculate the cash that Tab Comp can expect to collect during April. Show all of your calculations and evaluate the number of computer hardware units that should be ordered in January. Show all of your calculations.
Finding out the oppurtunity cost and Which of the following is an example of a variable cost
Discuss the advantages and the disadvantages of why a company would use these performance measures. How are these three measures related?
Choose one of the IFRS changes as well as a specific industry example; noting the connection between Rules and Principles-based Accounting, write a two-page report. which about the reasons the changes might have resulted in support of the goals o..
Illustrate what entries would be made in 2011 to record the current and deferred income taxes and to recognize the loss carryforward? (Assume that at the end of 2011 it is more likely than not that the deferred tax asset will be realized.)
Prepare the entry to close the firm’s Income Summary account as of its December 31 year-end and to allocate the $410,400 net income to the partners under each of the following separate assumptions:
Prepare two schedules, one indicating the corrected income for 2011 and one for the corrected income for 2012.
Evaluate the cost amount per unit and total manufacturing costs for the production and sale of 5,000 units of cellular phones. Evaluate the product cost markup percentage rounded to two decimal places for cellular phones.
The activity method of depreciation and For income statement purposes, depreciation is a variable expense if the depreciation method
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