Explain why an increase in cash during a particular accounting period does not necessarily mean that an entity has made a profit. Is it appropriate to calculate depreciation using two different methods? Explain why or why not. Why would the investor be concerned with the statement of...
Write a short paragraph to explain the concept of depreciation as used in accounting. Describe the role of ethics in accounting. (a) What is bookkeeping? (b) Is there a difference between bookkeeping and accounting? Explain. Identify and describe the principles of financial accounting. ...
How can we calculate depreciation of an asset? How to calculate the current asset? What does the current asset include? Explain. How do you account for proceeds from an asset that has been fully amortized? How do calculate the ratio in accounting? Describe fair value as it relates to assets...
In accounting, goodwill arises when a business is acquired and can never be self-created. Goodwill is an intangible asset and does not include assets that are capable of being separated from the entity and sold.Answer and Explanation: Circumstances under which goodwill ...
Normally associated with cost of fixed nature like rent, rate, depreciation, repairs and maintenance, insurance premium, management supervisory costs which cannot be absorbed or recovered due to under-utilization of plant capacity
aTheory is Practical in Public Administration 理论是实用的在公共事务管理[translate] a分析资产减值会计政策在企业的应用 Analysis property depreciation accounting policy in enterprise's application[translate] aIt's past my understanding 它是通过我的理解[translate] ...
2. Cash flow from changes in fixed assets.3. Cash flow from changes in working capital.2. Calculations of cash flow are not difficult, but they require care and particular attention to detail in properly accounting for noncash expenses such as depreciation and deferred taxes. It is especially ...
Purchased furniture on credit from Y: 10000 Depreciation on furniture: 20% per annum Sold 25% of the balance stock for cash at profit of 25% on cost. Other expenses per month: 5000. However, Mr. X defaulted in making these payments. 5. Opening balances of X ltd as on 1stApril 2005 ...
It is likely that some repairs will be necessary in the next 2 years on products it has sold this year and so a warranty provision is needed in the financial statements. This amount is an accounting estimate and couldtherefore be materially misstated.Auditor’s response to risk:Discuss with ...
Budgetary control and budget centres are therefore part of the overall system of responsibility accounting within an organisation. Controllable costs are items of expenditure which can be directly influenced by a given manager within a given time span. ...