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Changes in Accounting Principles
What is a change in accounting principle? How do you determine if a change in principle should be reported retroactively, currently, or prospectively? How do these changes affect the financial statements?
Errors
Why do accountants make errors? What types of errors may occur? Why is it necessary to correct them? What are the ramifications of not correcting errors?
Many of you have worked as bookkeepers and accountants doing various reconciliations of different accounts. Accountants should never have accounts that are out of balance. Have you ever found instances where you end up reconciling an account and find you are off a few cents, say under a dollar? What do you normally do? For those of you who have not performed accounting, in your opinion what would be the proper procedure to follow?
Portsche Snow Removal's cost formula for its vehicle operating cost is $2,310 per month plus $317 per snow-day. For the month of November, the company planned for activity of 18 snow-days, but the actual level of activity was 20 snow-days. The act..
Filer Manufacturing has 9.5 million shares of common stock outstanding. The current share price is $53 and the book value per share is $5.
Messersmith Company is constructing a building. Construction began in 2010 and the building was completed 12/31/10. Messersmith made payments to the construction company of $1,000,000 on 7/1, $2,100,000 on 9/1, and $2,000,000 on 12/31. Average acc..
Why is batch processing well suited to payroll processes?
Whistleblowing and Sarbanes
on january 1 2010 valuation allowance for trading investments has a credit balance of 8700. on december 31 2010 the
Business Environment and Company Financial Information
fletcher inc. has 5000 shares of 5 100 par value cumulative preferred stock and 25000 shares of 1 par value common
Answer the following questions: Question 1 Erin Danielle Company purchased equipment and incurred the following costs. Cash price$24,000 Sales taxes1,200 Insurance during transit200 Installation and testing400 Total costs$25,800 What amount should be..
which of the following is true concerning process costing in a multi-department setting?successor departments may only
the difference between the net present values of the two alternatives obtained using the total cost approach will be
There are several key elements required in a physician's contract with an Managed Care Organization (MCO). Research and describe the major components included in a physician's contract. Utilize relevant outside sources.
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