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Problem 1: On 25 March 2014 the entity discovered that, as a result of a computational error, depreciation expense for the year ended 31 December 2013 is overstated by CU29,000. The entity's 31 December 2013 financial statements were authorized for issue on 1 April 2014. The entity must:
Group of answer choices
A. correct its 31 December 20X3 financial statements before issuing them.B. reduce depreciation for the year ended 31 December 2014 by CU29,000 (ie prospectiveallocation-a change in accounting estimate).C. restate (correct) the depreciation expense reported for the year ended 31 December2013 in the comparative figures of its 2014 financial statements (ie retrospectiverestatement of a prior period error).
Problem 2: Under PAS 8, changes in estimate that result from new information made available to an entity shall be treated as a(n)
A Extraordinary itemB normal recurring adjustmentC correction of errors rectified prospectivelyD Correction of errors rectified retrospectively
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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