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Question 1
There are three classifications of cash flows which are Operating, Investing and Financing. Within each there are specific transactions that will create net cash used or net cash flows. Describe your understanding of 2 separate transactions within each classification and provide a detailed example of the accounting for each number that will be shown on the Statement of Cash Flows.
Question 2
In recent years, the treatment of the intangible asset "Goodwill" has undergone significant change as a result of the implementation of FASB 142. Goodwill is the value of a going concern. You can't touch it. You can't bank it. You can't sell it separately. By itself, it is valueless.
Assuming that all unrelated acquisitions are at "arm's length," what is all the fuss about valuing Goodwill? Why should you be concerned about it?
Question 3
For years, companies used master files to store data. Databases are now being used in their place. Why did this transformation take place? What are the advantages and disadvantages of using databases rather than files? Why is it important for an accountant to understand how a database works? Identify at least three functions in which an accountant would use a database.
Sierra has medical staff in residence. Disregarding the 7.5% floor, how much, if any, of these expenses qualify for a medical deduction by Joanne?
What is an uncertain tax position, and what are the general guidelines for accounting for uncertain tax positions?
firm m and n compete for a market and decide independently how much to advertise. each can spend either 10 million or
inman manufacturing company makes a product that it sells for 60 per unit. the company incurs variable manufacturing
who is responsible for the materials price variance? and what segment of business is responsible for revenues and
ashes and jimmy formed a partnership to practise accounting. ashes invested his personal library in the firm. the
Roman Knoze is considering two investments. Each will cost $20,000 initially. Project 1 will return annual cash flows of $10,000 in each of three years.
uring February, cash payments totaled $93,400, and the February 28 balance was $15,200. Determine the cash receipts during February.
Prepare the adjusting entry on December 31, 2011, applying the fair value method to gamble's long-term investment in Sabrina Company securities.
budgets need to be fair and attainable for employees to consider the budget important in their normal daily activities.
What is a steering committee and what role can they play in planning for the acquisition of new computers. What initial actions should this new committee take?
ACC 202: Final Project Budget Variance Report. In your opening paragraph, very briefly introduce the purpose of your paper. Recall that you will be discussing the operating budget and variance analysis as explained in your rubric instructions. Thre..
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