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Documenting the accounting system
There are 3 methods generally used to document the clients system.
Narrative notes:Written description of the system
Advantages:-
Comprehensiveeasy tp delegatestory approachsufficient for small or simpleDisadvantages:-
difficult to update if hand writtendifficult to digest if complex system
AB Corp expensed on the financial stmt $2,000,000 for depreciation expense during the year using straight line depreciation and deducted $3,000,000 of depreciation on the tax retur
What is trustworthy collateral from the lenders' perspective?Explain whether accounts receivable and inventory are trustworthy collateral. Assets that are readily marketable of
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Corporate bonds are debt securities issued by private and public corporations. These bonds are issued to meet specific requirements like building a new plant, pur
Describe the difference between a parallel loan and a back-to-back loan. Answer: A parallel loan contains four parties. One MNC (multinational company) borrows and re-lends to
A company has total debt of $1,200 and a debt-equity ratio of 0.5. What will be the value of the total assets?
What impact does high inflation have on the value of a business? Besides causing distortion (as it unequally affects all goods and services), inflation enhances the uncertainty
Accounting Framework - Convention of Materiality Materiality means relative significance. In other words whether a matter should be disclosed or not in the financial statement
(a) A debt of $3600 with interest at 6% compounded semiannually is to be amortized by semiannual payments of $900 each, the rst due in 6 months, together with a nal partial payme
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