direct write off method violates accounting principle

Ngày tải lên: 06/12/2013, 00:26

Ngày tải lên: 15/12/2013, 20:29

... states that costs should be allocated to the accounting period in which the revenue they help generate is recorded? a. Matching b. Consistency c. Accounting entity 2 d. Going concern 13. On ... 17,250 Miscellaneous expense 6,075 3 HANOI UNIVERSITY FACULTY OF MANAGEMENT AND TOURISM Accounting principles Mid-semester test BA-K06 - Tutorial 1&2 Student ID Number: Student’s Name: INSTRUCTIONS: ... memorandum 15. Which of the following accounts is not closed during the closing process at the end of the accounting period? a. Sales revenue b. Salary expense c. Income Summary d. Retained Earnings Part...

Ngày tải lên: 24/01/2014, 21:20

... Changes in Accounting Principle October 2001 Changes in Accounting Principles 23. Although the Board has chosen to retain the current methodology for reporting changes in accounting principle, ... to be materially misstated. Changes in Accounting Principles 12. A change in accounting principle is a change from one generally accepted accounting principle to another one that can be justified ... www.financenet.gov/fasab.htm ACCOUNTING STANDARD 6 Federal Accounting Standards Advisory Board Reporting Corrections of Errors and Changes in Accounting Principle October 2001 ACCOUNTING STANDARD...

Ngày tải lên: 17/02/2014, 10:20

... Committee on Accounting Procedure issued 51 Accounting Research Bulletins recommending certain principles or practices. From 1959 through 1973, the committee's successor, the Accounting Principles ... full-time Financial Accounting Standards Board (FASB) replaced the Accounting Principles Board. The FASB has issued numerous Statements of Financial Accounting Standards. The old Accounting Research ... largely of accounting educators, the American Accounting Association (AAA) has sought to encourage research and study at a theoretical level into the concepts, standards, and principles of accounting. ...

Ngày tải lên: 18/02/2014, 01:20

Ngày tải lên: 06/03/2014, 21:20

... accounting principles. Changes in such estimates and assumptions may affect amounts reported in future periods. Cash flow statements Cash flow statements have been prepared under the indirect method ... relevant section in this report. 120 Accounting principles The consolidated financial statements are prepared on a basis consistent with generally accepted accounting principles in the Netherlands (‘Dutch ... from operations incorporated losses related to the unwinding of the joint venture, including a write down of obsolete inventories ( 351 million), and the subsequent restructuring of the returned...

Ngày tải lên: 06/03/2014, 21:20

... in the basic financial statements but still required by GAAP Common Disclosures: ã Accounting policies and methods ã Description of financial risks ã Significant management judgments ã Lawsuits/Contingencies ã ... EQUITY $1,000 $1,000 $500 $200 $200 $100 $5,000 $4,000 $5,000 $6,000 $6,000 $1,300 $800 $100 UPDATE TOTALS UPDATE TOTALS THESE TOTALS SHOULD MATCH $6,100 $1,100 $6,100 6 Accounting Elements to Accounting Systems ã ASSETS Resources with monetary value ã LIAIBILITIES Creditors claims ... relationships, ratios and changes in these ratios over time to extract useful information. ã Most companies accounting is not very complex and their financial statements and notes should be fairly transparent...

Ngày tải lên: 06/03/2014, 21:20

... United States General Accounting Office GAO November 2001 ACCOUNTING PRINCIPLES, STANDARDS, AND REQUIREMENTS Title 2 Standards Not Superceded ... Accepted Accounting Principles in the Independent Auditor’s Report (AICPA, Professional Standards, vol. 1, AU sec. 411). SAS No. 91 established the following hierarchy of accounting principles ... Principles Board FASB Financial Accounting Standards Board FASAB Federal Accounting Standards Advisory Board GAAP Generally Accepted Accounting Standards OMB Office of Management and Budget...

Ngày tải lên: 15/03/2014, 16:20

... Companies use two methods to account for uncollectible accounts receivable: the allowance method, which provides in advance for uncollectible accounts; and the direct write- off method, which recognizes ... allowance method is the preferred method and is the only method discussed and illustrated in this text. ã The two basic methods for estimating uncollectible accounts under the allowance method ... Nunn (-A) To write off the account of John Nunn as Uncollectible. 750 750 3. Feb. 12 Accounts Receivable—John Nunn (+A) Allowance for Uncollectible Accounts (-A) To correct the write- off of John...

Ngày tải lên: 28/03/2014, 21:20

... installment sales method and cost recovery method, which is presented respectively in this part.  Installment sales method o Calculating 4 Chapter 5 – Intermediate Accounting 4 th – ... Intermediate Accounting student book 4 th by Spiceland – Sepe - Tomassini  Financial Accounting work book 2011 by Dinh Thanh Lan  Accounting Information Systems 11e by Nancy A. Bagranoff – Mark ... professional quality better. Vietnamese accounting standards (VAS) will continue to improve height level, more consistent with IFRS. Project 1: Accounting Principles Research Lecturer: Bui Phuong...

Ngày tải lên: 29/03/2014, 18:43

... guidance on the accounting principles and methods as the basis for the accounting records and financial statements. Standards “Inventory” is built to regulate and guide the principles and methods ... Introduction of Accounting Standards applying to "Inventories” International Accounting Standards (IAS) is the harmonization of regulations, accounting principles and methods to be accepted, ... the International Accounting Standards and Vietnamese Accounting Standards all have the same purpose as regulations and guidance on the principles and methods of inventory accounting. Including:...

Ngày tải lên: 29/03/2014, 18:43

... 626 Cash Flows from Operating 628 Indirect and Direct Methods of Reporting 628 Application of the Indirect Method of Reporting 629 Summary of Adjustments for Indirect Method 634 Cash Flows from Investing ... Estimation Methods 245 7 Accounting Information Systems 264 Fundamental System Principles 266 Control Principle 266 Relevance Principle 266 Compatibility Principle 267 Flexibility Principle 267 Cost-Benefit ... iii 1 Accounting in Business 2 Importance of Accounting 4 Users of Accounting Information 5 Opportunities in Accounting 6 Fundamentals of Accounting 8 Ethics—A Key Concept 8 Generally Accepted Accounting...

Ngày tải lên: 29/03/2014, 20:20

... allocating indirect costs to products are computed as follows: Predetermined indirect cost rate= Estimated indirect cost Estimated volume of the allocation base This formula applies to all indirect ... inventory. Relative sales value method A method of allocating joint product costs on the basis of the relative market value at the split -off point. Split -off point A certain stage of production ... indirect costs is at least somewhat arbitrary, even using sophisticated accounting methods. ã Activity-based costing provides more detailed measures of costs than traditional allocation methods. ã...

Ngày tải lên: 29/03/2014, 20:20

Ngày tải lên: 08/04/2014, 12:09

Ngày tải lên: 09/04/2014, 11:17

Ngày tải lên: 06/05/2014, 08:53

Ngày tải lên: 21/06/2014, 03:20

Ngày tải lên: 01/07/2014, 20:25

Ngày tải lên: 05/11/2014, 22:41