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Generally Accepted Accounting Principles (GAAP) are guidelines for companies to follow as tehy prepare and issue financial statements. Let's start by getting an understanding of why the guidelines were developed in the first place? Who relies on the financial statements (external users)? What happens if an external user relies on financial statements that are inaccurate? What negative consequences can arise from relying an inaccurate financial statements?
To decide in what zone should be placed a store which sells video-cassettes, the manager of a firm which sells and rents cassettes makes a study to estimate the demand for each sto
How to calculate fair value of long-lived asset when the information about fair value is not available?
Mr. Inherits 30000. Decides to open a salon jj salon. On 1/4/2016 commits 10000 to the business Opens an a/c in the bank What will be the money under capital in his books on 1/4/10
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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
Define why country in rigorous recession reflect on devaluation? Countries can deal with the both internal problems with external solutions. Why might a country in rigorous rec
Heathrow issues $2,000,000 of 6%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,728,224.
Annulment of order The order may be annulled if In the opinion of the court the debtor ought not to have been adjudicated bankrupt; All the debts have been paid in fu
In common terms the future value of an annuity or regular annuity is specified by the subsequent formula: FVA n = A (1 + k ) n -1 + A (1 + k ) n - 2 + ... + A .............
Q. Show the Management Report? Management's Report - Management is essential to include in its annual report its assessment of the effectiveness of the company's internal contr
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