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US GAAP follows the Historical Cost Concept in valuing the cost of Long-Term Assets. Explain this principle and how it compares to the standards used in the reporting of Long-Term
write a short note of concept and convention
Red Herring -‘Pre-release' PROSPECTUS offering. An announcement of a future issuance of SECURITIES, given restricted circulation during waiting period of 20 days or other specified
On January 1, 2014, Offshore Corporation erected a drilling platform at a cost of $5,420,142. Offshore is legally required to dismantle and remove the platform at the end of its 6
The Statement of Affairs The statement of affairs sets out: (a) The various assets of the debtor, at the values they are expected to realise; (b) The creditors, classified acc
How to Determine the financial reports of businesses In response to criticisms that financial reports of some businesses aren't clear enough to users, accounting rule makers ha
AFTER-ACQUIRED PROPERTY All property acquired by the bankrupt between the commencement of bankruptcy and his discharge passes to the trustee, except as stated above and below. (
A company is necessary by law to offer an issue of new equity finance on a pro-rata basis to its existing shareholders. This makes sure that the existing pattern of ownership and c
I am needing homework help on my Principles to Accounting 1, but don''t know how much you guys charge
You are evaluating a project which costs $720,000, has a four-year life, and no salvage value. Depreciation is straight-line and the half year rule does not apply. Sales are projec
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