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What is the revenue recognition principle? What is the current environment regarding revenue recognition? Research a current company's financial statement that the SEC has present or past investigations on for revenue recognition practices of a company. Why do you think there are so many of these? How is the IFRS-FASB Convergence Project potentially changing the revenue recognition as we know it today?
Research a specific company in one of the business sectors that interests you and describe how you imagine it might be to work there. Use 100 to 150 words for your description.
Big Co. acquired 1,000 shares of voting stock in Little Co. for $100,000 cash. Little Co. currently has 10,000 shares of voting stock issued and outstanding. Little Co.'s shares are trading at $115 per share. Big Co. subsequently receives a divide..
On November 1, 2011, Schumacher Company paid $1,200 in advance for an insurance policy that covered the company for six months. Assuming that Schumacher recorded this purchase as an asset, the adjusting entry required on December 31, 2011 would in..
Determine (1) the company's most profitable sales mix and (2) the contribution margin that results from that sales mix.
Prepare store ledger card under FIFO method by using perpetual inventory system.
Whiteside Corporation issues $510,000 of 8% bonds, due in 11 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 12%.
A U.S. firm has a Canadian subsidiary that remits some of its earnings to the parent on an annual basis. The firm has no other foreign business. The firm could best reduce its exposure to exchange rate risk by issuing bonds denominated in:
Why is it important to distinguish between upstream and downstream sales in the analysis of intercompany profit eliminations?
Construct a bond amortization table for this problem to indicate the amount of interest expense and discount amortization at each May 31. Include only the first four years. Make sure all columns and rows are properly labeled.
1. what is the purpose of an audit performed by a cpa?2. do audits signify to financial statement users
Prepare a tabular analysis of the above transactions
What amount will be reported in the Estimated Warranty Liability account on the December 31, 2011 balance sheet?
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