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SURVIVORSHIP POLICY The partners may take out a survivorship policy to safeguard against future cashflow problems incase a partner dies or the business is dissolved. E.g. incas
At current the working capital cycle is Receivables days $0.4m/$10m * 365 = 15 days Inventory days $0.7m/$8m * 365 = 32 days (cost of sales = $10m - $2m) Payables days $1.
PROPERTY IN BANKRUPT'S REPUTED OWNERSHIP The trustee may claim property owned by third parties which is in the bankrupt's possession at the commencement of the bankruptcy if:
Q. Determine Annual effective cost? (i) Payables policy One month cost of taking extended trade credit = 1.5/98.5 = 1.52% Annual effective cost = 1.015212-1 = 19.8%
Extent of Tests of Control -Every year AUDITOR should obtain sufficient evidence about whether company's internal control over financial reporting, including controls for all inter
What information goes on each sheet of an Articulationof statements, i.e. the Data Entry sheet, the Trial Balance sheet, the Single step Income statement, multi-step income stateme
what is the implication of applying accounting concepts wrongly
unit selling price of products= $40 unit variable expense of product= $24 Total fixed expenses= 560,000 avg op assets= 3,000,000 1)how many units must the division sell each yea
some lectures on branch accounting chapter of advance accounting or way how to do journal entries or way of branch accounting??i m totally unaware of this chapter and want to study
Wendy is evaluating a capital budgeting project that should last for 4 years. The project requires $ 800,000 of equipment. She is unsure what depreciation method to use in her anal
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