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How Accounting objectives can be achieved
There are two main ways by which this can be achieved:
There can be combinations of both systems; for example, each branch could maintain its own accounting system for income and expenditure, stock, debtors, cash and creditors, but fixed assets at branches, long-term investments made by and loans granted to the enterprise as a whole are reflected in the accounting system maintained by the head office.We shall consider these accounting systems, and, in addition, we shall consider how accounts maintained by a foreign branch are translated into the currency of the head office.
explain accounting concepts and conventions?
Profits in subsidiary company The remaining profits that belong to the holding company should be split between pre-acquisition profits and post acquisition profits. The pre
Grants are not necessarily recognized as revenue when they are awarded. Columbus City was awarded a state reimbursement grant of $150,000 to assist its adult literacy program. The
Company conversion features If the formation costs are to be bourne by the company then the profit or loss on realization will be the same as the company then the new company (
Using the profitability index, which of the following projects should be accepted? Project M: NPV = $60,000 NINV = $200,000 Project N: NPV = $10,000 NINV = $
WACC and gearing There are two major theories linking a company's WACC and its gearing ratio. (i) The usual theory of gearing proposes a "U" shaped WACC curve. Cost of c
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
Illustration of Accounting treatment of deferred tax A Ltd., bought an item of plant at a cost of £100,000 in year 2000. The estimated useful life of the plant was 5 years and
Much of the supply-side, fiscally conservative economic policies of Margaret Thatcher, Ronald Reagan, and even Mike Harris in Ontario were predicated on the belief that high income
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