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Selecting a for-profit organization of interest you will research an unusual or conflicting accounting principle that has impacted your chosen organization.
The research will require you to present, review and analyze the organizations published accounting statements of the last two years. Specifically, your research paper will:
Present your findings as a1-2 pages Word document formatted in APA style.
Application of LIFO, FIFO and Weighted Average method of Inventory System and evaluate the cost assigned to ending inventory and to cost of goods sold using a) specific identification
Calculating Annuity Present Value, EPR & Annual Percentage Rate - What rate should the shop report? Find the effective annual rate?
Ted also owns a 10% of Subco (an S corporation) that had $100,000 of taxable income and distributed a total of $60,000 to its shareholders. How much must Ted include in his gross income as a result of being a shareholder in these two corporations?
A department's three-variance overhead standard costing system reported volume variances and unfavorable spending. The activity level selected for allocating overhead to product was based on 80 percent of practical capacity
How much warranty expense is reported for January 2011? What is balance of the Estimated Warranty Liability account as of December 31, 2010?
Is the change in asset life unethical, or is it simply a good business practice by an astute president? What would you do if you were the controller?
describe whether the determination of the current value of the long-term assets is subjective or objective. Illustrate what is the best that can be achieved in such a determination?
Purpose a Master (Static) Budgeted Income Statement using variable costing
What is Elaine's net capital gain or loss? Draft a letter to Elaine describing how the net capital gain or loss will be treated on her tax return. Assume Elaine's income from other sources puts her in the 35% bracket. Elaine's address is 3000 Ire..
If the company borrows money at 12% to pay for the purchase on the last day of the discount period and pays the loan off on the last day of the credit period, what would be the net savings for the company?
What assumptions is the financial reporting model based on, what principles support the financial reporting model and who oversees the accounting profession?
Would the use of accelerated depreciation in the financial statements be more conservative or less conservative than the current practice of using the straight- line method? Explain."
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