Financial accounting chapter 01 accounting in action
ACCOUNTING IN ACTION handout
... 1-3 Accounting in Action Accounting in Action Accounting in Action Accounting in Action Ethics in Ethics in financial financial reportingreportingGenerally Generally accepted accepted accounting ... of Accounting AccountingThe Building The Building Blocks of Blocks of Accounting AccountingThe Basic The Basic Accounting Accounting EquationEquationThe Basic The Basic Accounting ... accepted accounting accounting principlesprinciplesAssumptionsAssumptionsWhat is What is Accounting? Accounting? What is What is Accounting? Accounting? The Building The Building Blocks...
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ACCOUNTING IN ACTION Solution review
... Sheet31/03/N+1Assets Closing balance Openning balanceCash on hand 30.000 6.000Cash in bank 6.000 30.000Trade receivables 0 12.000Paid in advance to supplier 1.000Goods in transit 4.000 0Materials ... 559.000Equities Closing balance Openning balanceShort-term borrowings 72.000 80.000Customers pay in advance 15.000 0Payables to laborers 0 8.000Trade payables 8.500 15.000Business Capital 395.000 ... Exercise 1:1. Determine the value of XAssets Value Equities ValueCash on hand 9.000 Short-term borrowings 80.000Cash in bank 30.000 Payables to laborers 8.000Trade...
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ACCOUNTING IN ACTION Exercise review
... money paid in advance, the reminder to be paid by cash on hand.9. Calculating salary of labourers: selling department 100.000, administrative department: 150.000. Exercise 1The opening balance ... purchasing price, selling price: 750.000. Customer paid by the money paid in advance, the reminder was paid by cash on hand.7. Calculating salary of labourers: selling department 200.000, administrative ... and Determine the performance of the Company at the end of the first quarter/NN. Exercise 3The financial situation of ABC Company at the beginning of the first quarter /NN as following (Unit...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 1 pdf
... sales $1, 870 $1, 825 $1, 945 $2,343Gross margin $1, 122 $1, 016 $1, 043 $1, 377Gross margin 25% 30% 28% 28%Operating costs $ 383 $ 375 $ 379 $ 409Operating income $ 64 $ 16 8 $ 17 0 $ 10 0Operating income ... to investments (6, 616 ) (10 ,608) (11 ,048)Net cash invested $(7,272) $ (11 ,19 1) $ (11 ,927)Net change in cash 16 2 1, 084 (15 8)Balance SheetYears Ended June 30 XXX2 XXX3Current AssetsCash and ... 4,846Short-term investments 12 ,2 61 18,952Accounts receivable 2,245 3,250Other 2,2 21 3,260Total current assets $ 21, 702 $30,308Property and equipment, net $ 1, 611 $ 1, 903Investments 15 , 312 19 ,939Total...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 2 doc
... 18,685 22 5, 026 Equity in income of joint ventures 4 ,26 2 1,947 2, 925 Net income $ 28 ,959 $ 20 ,6 32 $ 22 7,951Note: Per share amounts omitted.SOURCE: Shaw Industries Inc., annual report, January 20 00, ... ShawIndustries Inc. (in thousands).Year EndedJan. 3 Jan. 2 Jan. 11998 1999 20 00 Net sales $3,575,774 $3,5 42, 2 02 $4,107,736Cost of sales $2, 680,4 72 $2, 6 42, 453 $3, 028 ,24 8Selling, general and administrative ... lineNoble Drilling (1991) Insurance on rig abandoned in SomaliaPollo Tropical Inc. (1995) Business-interruption insurance recoveryRaven Industries Inc. (20 00) Gain on sale of investment in...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 3 pps
... slope, find a point that the line intersects and then measurethe “rise-over-run” using the y-axis intercept and that point. For this calculation myline intersected the June data at point ($ 13, 500, ... percentage in- creases by less than 1% 30 .1% to 30 .5% (see Exhibit 3. 11). As a result your(.%) $ ,$,.%$, , 30 1 34 0 000 34 0 000 30 11 128 631 xx=== (with no rounding)EXHIBIT 3. 10 Required ... oftotal 50.00% 43. 75% 6.25% 100.00%CVP target $1,128, 631 Mix % allocation $564 ,31 5 $4 93, 776 $70, 539 $1,128, 631 Variable cost 71 .3% 402,075 71.4% 35 2,697 48.0% 33 ,859Contribution margin $162,241...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 4 pps
... Web-based marketing and selling, rather thantransaction processes and the hiring and training of people involved in theseprocesses. In addition, the avoidance of investment in this type of infrastruc-ture ... fulfillment, tracking, and customer-information stor-age and mining. All these systems must talk to one another, which means thatinterfaces must be maintained. This interfacing is a nightmare ... investors see the value in your using their investment dol-lars and your creative energy to build transaction-processing systems that aresuboptimal in scale and soon obsolete? In you spending...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 5 pptx
... sold 32, 750 40,938 44,213 41 ,59 3 43,230 50 ,763 253 ,4 85 Gross profit 67, 250 84,063 90,788 85, 408 88,770 104,238 52 0 ,51 5Operating ExpensesSalaries 22,800 28 ,50 0 30,780 28, 956 30,096 35, 340 176,472Benefits ... 367,300Income taxes 11,300 14 ,53 8 16,160 14,9 45 15, 858 19,0 25 91,8 25 Net profit after taxes 33,900 43,613 48,480 44,8 35 47 ,57 3 57 ,0 75 2 75, 4 75 AssumptionsCosts of goods sold % 0.32 75 Salaries (% sales) ... 1,400 1,270 1 ,50 0 1 ,55 0 1,600 8,620Total operating expenses 54 ,800 66, 850 70,360 67,220 68 ,57 0 78,900 406,700Net profit before taxes 45, 200 58 , 150 64,640 59 ,780 63,430 76,100 367,300Income taxes...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 6 potx
... 8000005 968 9 59821 60 120 60 758 62 240 65 067 768 21 93805 1233 46 85 968 9 859821 860 120 860 758 862 240 865 067 8 768 21 893805 9233 46 11 163 16 11 163 92 1120532 1131051 1149888 1248389 1354700 1532492 1 562 669 327 ... 2743005 468 71 550419 558031 572022 594331 69 6304 8 060 87 987351 1021000 62 5000 62 5000 62 5000 62 5000 62 5000 62 5000 62 5000 62 5000 62 5000−55555 −59027 62 499 65 971 69 443 −72915 − 763 87 −79859 −83331 569 445 ... −83331 569 445 565 973 562 501 559029 555557 552085 54 861 3 545141 54 166 911 163 16 11 163 92 1120532 1131051 1149888 1248389 1354700 1532492 1 562 669 0 0 0 0 0 0 0 8042 1 460 36 167 700 169 000 172250 180700...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 7 docx
... Understanding the NumbersPrice Indices“If you only examine Panel A of Exhibit 7. 2,” Jane said, “you will think that netincome leaped 62% and that the reason for the dramatic increase lies in the ... familylaw, and so on, right down to individual lawyers in the firm. And knowing whathas happened in the past, they have an excellent tool for beginning to plan forthe future. I think we should be doing ... questions and answers on this and many other accounting topics. The Institute of Management Accountants maintains a site at www.imanet.org that provides all kinds of managerial accounting resources....
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 8 pdf
... (preferably in writing) setting forth their understandings on the many issues which will arise in such an arrangement. Principal among these are theinvestments each will make in the business, the ... filing an application with the state government and paying the 234 Planning and Forecastingtime to cash in on their efforts as founders and promoters. The survival of thebusiness as a whole in ... (percent)Corporate income (thousands)01020304050 225 8 CHOOSING ABUSINESS FORMRichard P. MandelTHE CONSULTING FIRMJennifer, Jean, and George had earned their graduate business degrees to-gether and...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 9 potx
... fol-lowing. Crugnale opened the first Naked Fish in May 199 9. After testing and refining the concept, he has opened another nine outlets (as of Decem-ber 2000). The establishment of nine Naked ... writing any business plan is getting started. Com-piling the data, shaping it into an articulate story, and producing the finishedproduct can be a daunting task. The best way to attack a business ... manipulated in tables and graphs.RDS Bizsuite Linked databases providing data and full-text searching on firms.Bloomberg Detailed financial data and analyst reports. 276 Planning and Forecastingthree...
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PORTABLE MBA IN FINANCE AND ACCOUNTING CHAPTER 10 pps
... volatile: 48% in good times and 0% in bad times. This is the thirdEXHIBIT 10. 6 Performance of NoDebt Inc. and SomeDebt Inc.NoDebt Inc. (thousands)SomeDebt Inc. (thousands)Net Earnings Good Times ... factoring in points and origination fees and assuming themortgage will not be prepaid.RECENT INNOVATIONS IN CAPITAL BUDGETINGRecent years have seen the introduction of two new capital budgeting ... windfall profit of $1.5 million and a tax rate of 40%, thewindfall tax would equal $600 thousand (= $1.5 million × 40%).Taxable Income and Income TaxExhibit 10. 2 shows how taxable income and...
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Financial accounting chapter 01 accounting in action
... of Chapter 1 Financial Accounting IFRS Second EditionWeygandt Kimmel Kieso 1-2 Chapter 1 Accounting in Action Learning ObjectivesAfter studying this chapter, you should be able to:1. Explain ... business transactions on the accounting equation.Using the Accounting EquationIllustration 1-81-22LO 7 Analyze the effects of business transactions on the accounting equation.Using the Accounting ... UsersExternal UsersWho Uses Accounting DataLO 2 Identify the users and uses of accounting. InformationWhy ?1-8International Financial Reporting Standards (IFRS)LO 4 Explain accounting standards and...
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Financial accounting chapter 08 accounting for receivables
... ReceivableReceivableNotes Notes ReceivableReceivableOther Other Receivables ReceivablesOther Other Receivables ReceivablesTypes of Receivables 8-3Amounts due from individuals and other companies ... of Accounting for Uncollectible AccountsDirect Write-OffDirect Write-OffTheoretically undesirable:No matching.Receivable not stated at cash realizable value.Not acceptable for financial ... expected to be collected in cash.LO 1 Identify the different types of receivables. Illustration 8-1Types of Receivables 8-4Three accounting issues:1. Recognizing accounts receivable.2. Valuing...
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