Define in accounting terms what are retained earnings. Distinguish between current and long-term assets. Define return on assets and explain what it measures. How does the Fixed Asset Manager calculate current period depreciation? Define the following term: Return on a...
How do you record unpaid account balances in accrual accounting? Which of the following accounts would not usually be classified as a current liability? a. Accounts Payable b. Wages Payable c. Unearned Rent Income d. Bonds Payable e. Taxes Payable ...
Define in accounting terms what are retained earnings. Define the following term: Earnings per share. Define the following term: Net profit margin. (a) Distinguish between fixed and current assets. (b) Describe the current ratio. Define the following term: Contribution margin. ...
Management accounting is a very importantbranch of accounting. It is an important decision-making tool used internally by the management. Tools like budgeting, variance analysis, cost-volume-profit analysis, and BEP are prominent tools used in management accounting. In simple terms, management accounti...
(c) During the audit, the team discovers that one of the five development projects, valued at $980,000 and included within intangible assets, does not meet the criteria for capitalisation. The finance director does not intend to change the accounting treatment adopted as she considers this an ...
Looking just at capital allocation, we find that annual spending on physical assets in the energy and land-use systems through 2050 would need to be about 60 percent greater than it is today, rising by $3.5 trillion annually on average. Accounting for expected increases in spending, as ...
During 2012 all accounting records have been centralised within head office. Therefore at the beginning of the year, each supermarket’s opening balances were transferred into head office’s accounting records. The increased workload at head office has led to some changes in the finance department ...
Book valueis an accounting representation of the net asset value of a company, whereas intrinsic value also takes care of the company’s future value. How to Calculate Intrinsic Value? There are many methods of calculating an intrinsic value of a stock. These methods demonstrate the close relati...
Explain the financial reporting objectives of governmental and not-for-profit accounting. What are the five main accounts commonly included on a balance sheet? Define the following term: Receivable turnover ratio. What is the primary basis for the classification of assets and liabilities in the ba...