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Various types of accounting changes can affect the financial statements of a business enterprise differently. Assume that the following list describes changes that have a material effect on the financial statements for the current year of your business enterprise.1. A change from including the employer share of FICA taxes with payroll tax expenses to including it with "Retirement benefits" on the income statement.2. Correction of a mathematical error in inventory pricing made in a prior period.3. A change from presentation of statements of individual companies to presentation of consolidated statements.4. A change in the method of accounting for leases for tax purposes to conform with the financial accounting method. As a result, both deferred and current taxes payable changed substantially.5. A change from the FIFO method of inventory pricing to the LIFO method of inventory pricing.
XYZ Municipality purifies water before it enters the reticulation network. There are presently 3 purification processes available to the municipality. These processes sre referred
Return on Investment (ROI) - Ratio measure of the profits achieved by a firm by its fundamental operations. An indicator of management's general efficiency andeffectiveness. The si
Conversion of members' to creditors' winding up If the liquidator in a members' winding up forms the opinion that the company will not be able to pay its debts in full within t
It is the month of april for rand company a producer of gold and silver commemorative medallions. Rand company has one job, job A a special minting of 1000 gold medallions which st
all types of assets
Refer to Note 12, Employee Benefit Plans and Other Postretirement Benefits (pp. 86-91) from the Consolidated Financial Statements of Harley-Davidson (hereafter HOG) 2008 Annual Rep
Q. Average cost of capital? Even though the director suggests that equity finance is appropriate given the amount of finance needed the amount alone doesn't rule out other fina
Juniper Ltd is a listed diversified company. In preparing its financial statements in accordance with AASB 8, the chief operating officer has identified three operating segments:
Q. Assembly of Financial Statements? Assembly of Financial Statements -Providing of various accounting or data-processingservices by an accountant, output of which is in the fo
What are some critics by individuals and professional bodies in this joint project?
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