Financial Accounting

  • Financial Accounting

    |JOB TITLE:  Financial Accountant (12 months contract) | |TEAM/PROGRAMME: Finance |LOCATION: London | |GRADE: (please leave this blank) |Type of Contract: | | |Fixed

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  • Financial Accounting

    Resources: Ch. 9 of Financial Accounting Complete Exercise E9-1, E9-7, & E9-12. Complete Problem P9-7B. Submit as a Microsoft® Excel® or Word document. E9-1 The following expenditures relating to plant assets were made by Spaulding Company during the first 2 months of 2011 1. Paid $5,000 of accrued taxes at time plant site was acquired Land 2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit Machinery 3. Paid $850 sales

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  • Financial Accounting

    CHAPTER 1 Financial Accounting and Accounting Standards 1-1 ASSIGNMENT CHARACTERISTICS TABLE Level of Difficulty Simple Simple Simple Simple Moderate Simple Simple Simple Simple Complex Simple Moderate Simple Simple Complex Moderate Moderate Moderate Moderate Moderate Time (minutes) 15–20 15–20 15–20 15–20 20–25 10–15 15–20 20–25 20–25 30–40 15–20 30–40 15–20 10–15 20–25 30–40 25–35 25–35 25–35 25–35 Item CA1-1 CA1-2 CA1-3 CA1-4 CA1-5 CA1-6 CA1-7 CA1-8 CA1-9 CA1-10 CA1-11 CA1-12 CA1-13

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  • Financial Accounting

    REPORT ON BUSINESS CONSEQUENCES OF NATURAL DISASTERS FOR THE BOARD OF DIRECTORS OF MILLEY LTD Bachelor of Professional Accounting Macquarie University Sydney, Australia 2011 Submitted to the Faculty of Busines and Economics of Macquarie University in partial fulfilment of the requirement for ACCG 224 April, 2011 Word Count = 1484 Table of Contents CONTENTS

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  • Financial Accounting

    International Financial Reporting Standard for Small and Medium Size Entities: IFRS FOR SMEs 1- Introduction Now days the word has become one global market where there is no border for business to operate. To help facilitate that globalization, businesses have to present their financial statement on the same basis as its foreign competitors, making comparisons easier. That why the use of the International Financial Reporting Standards (IFRS) which is a set of accounting standard

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  • Financial Accounting

    are advantages and disadvantages to both, although becoming a sole trader is much easier then limited company. However, a sole trader does not share his/her responsibilities with anyone but they bear it all by themselves. These include; legal and financial whereas a limited company separate legal entity to their directors, limiting the liability if things go wrong. As a sole trader, you are fully responsible for all the risks and benefits of the business. Including business debts if anything goes

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  • Financial Accounting

    1. Introduction: Financial accountancy (or financial accounting) is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners and other stakeholders. Financial capital maintenance can be measured in either nominal monetary units or units of constant purchasing power. The central need for financial accounting is to reduce the various principal-agent problems, by measuring and

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  • Financial Accounting

    BKAF2053 Financial Accounting and Reporting 11 Tutorial 4 (Lecturer’s copy) Question 1 Cherokee Construction Company changed from the cost-recovery to the percentage of completion method of accounting for long-term construction cost during 2010. For income tax purpose, the cost recovery method has been continued. | |Pretax Income from | |

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  • Financial Accounting

    2-3 | Question C | 4 | Question D | 5 | Bibliography | 6 | Financial Accounting 1 Group Assignment Question A As what we understand for the words of Professional Accountant is who has experience and skills in establishing and maintaining accurate financial records for a business. Accountants’ works including control the system of record, auditing books and prepare a financial statement (Hossain, 2013). The accounting profession in Malaysia is controlled by the Malaysian Institute of Accountants (MIA)

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  • Financial Accounting

    good deal. Investing Tune Ins Holding Berhad can also be considered as money spent wisely. Secondly, the section financial information is also a key in deciding whether to buy the shares. This section gains the most trust from investors because we all know money or profit is their main concern. This section is for investors to analyse to identify the IPO company’s share worth and financial strengths. The purpose of this section is to let investor find out is it wise to invest money as in buy securities

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  • Financial Accounting and Accounting Standards

    CHAPTER 1 Financial Accounting and Accounting Standards ASSIGNMENT CLASSIFICATION TABLE | | | | |Topics |Questions |Cases | |1. |Subject matter of accounting. |1 |4

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  • Financial Accounting

    important to maintain bookkeeping records and the users of such record Bookkeeping is the recording of financial transactions which includes receipts, payments, receipts and sales by an individual or organization. Bookkeeping and accounting are two different things because the accounting process includes the bookkeeping function, an accountant a person who is responsible for recording financial transactions recorded by the bookkeeper and files forms with government agencies. Bookkeeping has some

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  • Financial Accounting

    most part the accounting assignment was well done. Marks were well spread across the distinction, merit and pass grades, and just less than 10% of people obtained marks at 80% or above. Unfortunately there were also some fails. The feedback below is intended to help you understand where marks were won and lost. Please ask if you have problems once you have read the feedback below. Admin Issue The feedback sheet is designed for essay based courses and therefore for this accounting assignment the

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  • Financial Accounting

    1. Describe the differences between financial accounting and managerial accounting. Financial Accounting Provides information to people who are outside of the company, such as shareholders. Financial reporting must be prepared by law. Scope is the entire organization. Prepared by using for 6 months periods or fiscally historical data. Not confidential. Managerial Accounting Provides information to people who are inside of the company, such as top management. No governmental regulations. Product or cost centric

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  • Financial Accounting

    to agree with the statement in not trusting any full cost number, as generic problems associated with full cost accounting include the difficulties of estimating the costs of environmental damage. Moreover, there is no easy way to calculate many environmental and social costs, and in many instances it can become a question of personal values. Additionally, detailed full cost accounting would require an understanding of the life cycle environmental impacts of a product, process, or activity. Life

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  • Financial Accounting

    | | | |The debit to Cash would be for 1,000 shares times $10 per share or $10,000. There would be a credit to Common Stock for the | | | |1,000 shares issued times the $4 par value per share or $4,000 (Accounting for Common Stock Issues). | |[pic] |14. |Wynola, Inc. issued 1,000 shares of common stock at $10 per share. If the stock was no-par value stock, the journal entry to| | | |record the issuance would

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  • Financial Accounting

    University of Melbourne DEPARTMENT OF ACCOUNTING SEMESTER 1, 2014
 SUBJECT CODE: ACCT 90013 SUBJECT NAME: FINANCIAL ACCOUNTING Student Declaration I / we declare that: 1. This submission is our own work
 2. The submission is based on our own research and analysis 3. All sources are documented in the assignment
 4. All participants contributed equally to this joint submission Student number 1 2 3 4 594130 644502 579471 517355 Signature Jie Yang Anqi Li Xi Zhao Lei Fu Date 6 May 2014 6 May

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  • Financial Accounting

    SOM 630 FINANCIAL ACCOUNTING End-of–Course Project Fall 2010 Semester After you have chosen a company and obtained a copy of its published financial statements, please answer the questions posed below in the spaces provided. If you cannot answer a given question, please explain why not (data not available, you do not understand the question, etc.).  Are the financial statements consolidated financial statements? How do you know? Yes. It says "Consolidated "Consolidated "Consolidated "Consolidated

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  • Financial Accounting

    Gaurav Gupta FT154037 Sec – 4 FINANCIAL ACCOUNTING CASE-STUDY Case Discussion 9-1 1 Current Ratio of General Mills |2010|2009| Current Assets|3480.00|3534.00| Current Liabilities|3769.10|3606.60| Current Ratio|0.92|0.98| Current Ratios are less than 1 for both the years. Hence, company will not be able to pay off their short term liabilities with their current assets 2||Kelloggs||General Mills| ||2010||2009|2010|2009| |Current Assets|2195||2558|3480

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  • Financial Accounting

    FFA PAPER F3 FINANCIAL ACCOUNTING BPP Learning Media is the sole ACCA Platinum Approved Learning Partner – content for FIA and ACCA qualifications. In this, the only FFA/F3 study text to be reviewed by the examiner:        We highlight the most important elements in the syllabus and the key skills you will need We signpost how each chapter links to the syllabus and the study guide We provide lots of exam focus points demonstrating what the examiner will want you to do We emphasise key

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  • Financial Accounting

    | | | | |Business |10. Financial Accounting and Reporting | |Student name |Assessor name | |

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  • Financial Accounting

    Nonmonetary Incentives 7 * Realistic Standards 8 * Controllability of Costs 8 * Multiple Measures of Performance 8 * Conclusion 8 * References 9 Executive Summary: The following Accounting report contains information related to budgets, different types of budgets and how this all leads to change in different aspect of human behaviour. The objective of this report is to promote a reasonable amount of positive behaviour in an organization

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  • Financial Accounting

    Financial accounting Course Assessment 1 FACC/mcyildv2/July14/1 Part A Balance sheet: Income statement: Workings Balance sheet: a/ Tangible fixed assets: 66000£ of fixtures and fittings bought as per August 1st, 2013, needed to be depreciated over 6 years on a straight line method, taking into account a residual value of 10%, meaning 6600 £. This means a yearly depreciation amount of 9900£, which can also be seen on line ‘p’ in the income

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  • Financial Accounting

    Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Classification A Current Liability Current Asset Plant Asset—Contra Plant Asset—Contra Operating Expense Current Asset—Contra Operating Expense Financial Statement Balance Sheet Balance Sheet Balance Sheet Balance Sheet Income Statement Balance Sheet Income Statement Income Statement Balance Sheet Balance Sheet Normal Balance Credit Debit Credit Credit Debit Credit Debit Debit Credit Debit Debit

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  • Financial Accounting

    ACCOUNTING FOR AIRLINE FREQUENT FLYER PROGRAMS: MANAGEMENT INCENTIVES AND FINANCIAL REPORTING IMPACTS May 2012 Brian J. Franklin, BBA Accounting ‘12, College of Business and Public Policy, University of Alaska Anchorage, 3211 Providence Drive, Anchorage, AK 99508, 907-268-4233 Ext. 401, bfranklin@frontiertutoring.com ABSTRACT The obligation to provide free or reduced-fare travel to passengers who redeem their accrued frequent flyer program (FFP) benefits represents a significant liability

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  • Financial Accounting

    Journal Entry Assignment (5% of Final Mark for course) Principles of Financial Accounting 0470-151 Prof. Yvette St Pierre Due date: June 11, 2015 Required: Windsor-Essex Tool is a manufacturing company. It is organized as an Ontario corporation. Journal entries for the month of December 2013 for each of the following transactions and events are to be prepared in proper form including explanation. In addition, any adjusting journal entries required at the end of December 2013 should also

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  • Financial Accounting

    ACC201e Financial Accounting Assignment 2 – Group-Based Assignment January 2011 Presentation ACC201e Assignment 2 Group-Based Assignment This assignment is worth 30% of the final mark for ACC201e Financial Accounting. The cut-off date for this assignment is 24 February 2011, 2359hrs. This is a group-based assignment. You should form a group of 3 members from your seminar group. Each group is required to upload a single report to MyUniSIM via your respective seminar group. Please elect

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  • Financial Accounting

    Chapter 1 Financial Statements and Business Decisions ANSWERS TO QUESTIONS 1. Accounting is a system that collects and processes (analyzes, measures, and records) financial information about an organization and reports that information to decision makers. 2. Financial accounting involves preparation of the four basic financial statements and related disclosures for external decision makers. Managerial accounting involves the preparation of detailed plans, budgets, forecasts, and performance

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  • Financial Accounting

    OF CURRICULUM DESIGN Financial Accounting ATLANTIC INTERNATIONAL UNIVERSITY TABLE OF CONTENTS Introduction ………………………………………………………….3 History ……………………………………………………………….3 Description………………………………………………………….....4 Financial Reporting …………………………………………………..5 Accounting Principles…………………………………………………6 Balance Sheet…………………………………………………………7

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  • Financial Accounting

    Financial Reporting Problem, Part 1 Robert C. Reanolds XACC/290 Sunday, July 5, 2015 Jehnseen. C.   Financial Reporting Problem, Part 1 I have selected to use the financial reporting submitted by Earthlink, Incorporated for the year ending December 31, 2014. The NASDAQ Global Market symbol of “ELNK” can locate the organization for its common stock traded through the Global Market and a New York Stock Exchange code number 1467. The last reported sale price for Earthlink’s common stock was

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  • Financial Accounting

    ACCOUNTING CONCEPTS AND CONVENTIONS INTRODUCTION In all activities (whether business activities or non-business activities) and in all organizations (whether business organizations like a manufacturing entity or trading entity or non-business organizations like schools, colleges, hospitals, libraries,clubs,temples, political parties) which require money and other economic resources, accounting is required to account for these resources. In other words, wherever money is involved, accounting

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  • Financial Accounting

    Unit 10: Financial Accounting and Reporting Name: Farhan Shakeel E-mail: farhanshakeel786@hotmail.com Task 1 (L.O 1.1) Select any two companies given below and describe different users and their need of using the financial statements: 1. Etisalat telecom 2. Emirates airline 3. ADNOC petroleum 4. Shell petroleum 5. Unilever 6. Global learning

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  • Financial Accounting

    Chapter 1 Conceptual Framework and Financial Statements Short Exercises (5 min.) S 1-1 |Computed amounts in boxes | | | | | | | | | |Total Assets |= |Total Liabilities |+ |Shareholders’

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  • Financials & Accounting

    comparative studies of consolidated financials Table of Contents: 1. A. Description of Expanded accounting equation for Hal Burton Web consulting for the period of 1-30, 2015 B. Basic and consolidated financial statements of Hal Burton Web consulting for the period of 1-30, 2015 1. Income Statement. 2. Statement of financial position 3. Statement of owner’s equity 4. Statement of Cash Flows. 2. A. Requirements of International Accounting Standards (IAS-1) and its comparison

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  • Financial Accounting

    The two types of accounting are Financial and Managerial. Financial accounting provides information for external users to help in the decision making process. These external users would include analysts, creditors, investors, and regulators. As for the creditors and investors, they utilize this information to base their decision of lending money or not. As for managerial accounting this information is provide to senior management to help them make a better assessment when making decisions regarding

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  • Financial Accounting

    Financial Accounting Pilot Paper from December 2011 onwards Time allowed: 2 hours ALL 50 questions are compulsory and MUST be attempted. Do NOT open this paper until instructed by the supervisor. This question paper must not be removed from the examination hall. The Association of Chartered Certified Accountants Paper F3 Fundamentals Pilot Paper – Knowledge Module ALL 50 questions are compulsory and MUST be attempted Please use the space provided on the inside cover of the

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  • Financial Accounting

    LESSON 1 The Accounting Model 06160900 Daniel Company reported the following items on its financial statements for the current year: Sales $260,000 Costs of Goods Sold $90,000 Salary Expense $40,000 Interest Expense $17,000 Dividends $20,000 Income Tax Expense $32,000 1. What amount will Daniels report on its income statement for total expenses? a. $130,000 b. $158,000 c. $179,000 d. $210,000 2. Assume that total expenses were $220,000. The income statement

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  • Financial Accounting

    pollution, etc.), and the client’s specific plans. c) The usefulness of analytical tools is limited by the use of estimates, the cost basis, the application of alternative accounting methods, atypical data at year-end, and the diversification of companies, making industry comparisons difficult. Different accounting methods affect the analysis of trends and comparisons with industry statistics or other companies within the industry. Page 1 of 8 QUESTION TWO (a) Relax Ltd Statement

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  • Financial Accounting

    Business Part time UNIT 10: Financial Accounting and Reporting Unit Learning Outcomes 1 2 3 4 Understand the regulatory framework for financial reporting Be able to prepare financial statements from complete or incomplete records Be able to present financial information in accepted formats for publication Be able to interpret financial statements. BUSINESS SCENARIO You are a newly appointed consultant in XYZ Financial Consultant Company. You provide financial consultancy to multiple

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  • Financial Accounting

    The University of Chicago Booth School of Business | Financial Accounting 30000 | Financial Statement Analysis Case Groupon: Constructing Projected Financial Statements Designed by: Valeri Nikolaev Objective: Understanding the relation between financial statements and constructing a pro forma balance Sheet. Role of the presenting team. You are taking the role of Groupon’s management team whose task is to construct a projected balance sheet requested by a prospective lender

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  • Financial Accounting

    Financial Accounting Standards Board ORIGINAL PRONOUNCEMENTS AS AMENDED Statement of Financial Accounting Standards No. 157 Fair Value Measurements Copyright © 2010 by Financial Accounting Foundation. All rights reserved. Content copyrighted by Financial Accounting Foundation may not be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the Financial

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  • Financial Accounting

    Lines] ACCT 573 Accounting Quality Assignment # 2 April 23rd, 2016 Introduction The purpose of this research assignment is to analyze accounting quality in regards to the requirements set forth by the Sarbanes-Oxley Act of 2002 and SEC reporting requirements for publically traded corporations. Specifically, this paper analyzes the roles of the Board of Directors (BOD) and CEO’s regarding the establishment of an ethical workplace environment, which generates quality accounting information to

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  • Financial Accounting

    Name: Instructor: Course: Date: Financial Accounting Scenario 1 Sources of Finance There are a number of equity sources of finance. They include help from family and friends, public stock sale, venture capital, and funds from angel investors. A businessperson can get money from family to start up a business. The advantage with obtaining funds from family and friends is that they may be lenient with repayment terms (Leach and Ronald 34). They might also offer low interest rates and longer

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  • Financial Accounting

    Financial Accounting Charpter 3 By Sandrea Bryan Fulton University of Phoenix ACCT 280 Facilitator: Willie Thomas June 22, 2011 Week-Three 1. (a) How does the time period assumption affect an accountant’s analysis of business transactions? The time period assumption affects an accountant’s analysis of business transactions because everything has to be recorded or reported according to specific dates of services render, payments received, and payments. All accounting entries should be

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  • Financial and Accounting

    profile……………………………………………………………………..……….4 3.1 Google………………………………………………………………………..……….4 3.2 Market performance…………………………………………………………..………4 3.3 Yahoo…………………………………………………………………………………5 3.4 Market performance………………………………………………………………..…5 4.0 Financial ratios………………………………………………………………………………..6 5.0 Interpretation of ratios…………………………………………………………………….….7 5.1 Profitability ratio………………………………………………………………...……7 5.1.1 Return on asset…………………………………………………………...…7 5.1

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  • Financial Accounting

    To: Professor Charles Ward Strayer University ACCT 557: Financial Accounting Question1: Select either the balance sheet or income statement and explain how the use of it may be applied to your everyday life. Answer: For the sake of this assignment, I will choose the income statement. First of all, an income statement measures a company’s revenue and expenses as it relates to net income or net loss (Kieso et all, 2010). The income statement relates more to my everyday life than the balance

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  • Financial Accounting

    Chapter 1 Financial Statements and Business Decisions ANSWERS TO QUESTIONS 1. Accounting is a system that collects and processes (analyzes, measures, and records) financial information about an organization and reports that information to decision makers. 2. Financial accounting involves preparation of the four basic financial statements and related disclosures for external decision makers. Managerial accounting involves the preparation of detailed plans, budgets, forecasts, and performance

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  • Financial Accounting

    Financial Accouting EXECUTIVE SUMMARY Accounting for intangible assets is a major issue within the accounting environment. The issue is identifiable when it concerns accounting for research and development costs, in particular, internally generated assets. With two imperative standards in practice today, one being the IASB’s selective capitalisation of expenses into an intangible asset once a specific criteria has been reached and the other being the FASB’s system of straight expensing of all

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  • Financial Accounting

    Financial Accounting: • Communicates economic information to individuals and organizations that are external to the direct operations of the company • Stresses the form in which it is communicated • Is based on historical information It is about the balance sheet, the income statement, the financial statement of the company (the notes). The stakeholders (shareholders, clients, suppliers, the government, employees, etc.) are interested by the financial statements. Financial

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  • Financial Accounting

    Financial Accounting: Basic Accounting Concepts: (The Income Statement) This chapter introduces the idea of income as used in financial accounting, and describes the income statement. Course of discussion outline: The last six basic concepts namely the following: 6. Time period 7. Conservatism 8. Realization 9. Matching 10. Consistency 11. Materiality The nature of income Now let us first differentiate the balance sheet and income statement, balance sheet described were which

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