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1) Define variable and fixed costs. Comment on how these costs are used to estimate future requirements.
2) Discuss how contribution margin is used by managers for decision making.
3) Define full costing and give an example how full costing is applied and used by managers to make good business decisions.
Business combinations have become an important strategic move by corporations for various reasons. Discuss the various types of business combinations. Why may companies seek to engage in business combinations?
Prepare journal entries associated with changes due to errors. How do they relate to the practice of accounting and its uses in business?
The role and process of recognising depreciation in accounting reports, and by identifying accounting concepts which provide the justification for recognising depreciation.
Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
Identify the authoritative literature that provides guidance on the zero-interest-bearing note. Use some of the examples to explain how the standard applies in this setting.
Explain what a Flat Income Tax System is and how it differs from progressive tax system?.What are advantages and disadvantages of a Flat Income Tax?
Obtain a detailed report which is based on an intensive investigation of the financial position of sales department, production department and research and development department.
What is the FASB Codification System and what is its purpose? What are the nine content areas located in the FASB Codification System? What types of items are located under each content area?
An enterprise that holds a variable interest in variable interest entity is required to consolidate assets, liabilities, revenues and expenses, and the non-controlling interest of that entity if:
Norman traveled to San Francisco for four days on vacation, and while there spent another two days conducting business for his employer. Norman's plane fare for the trip was $500; meals cost $150 per day; hotels cost $300 per day
Prepare the adjusting journal entry needed on December 31, 2006. Prepare the journal entry to record the sale of the Colorado Company stock during 2007.
Prepare the journal entries for these transactions, assuming that the common stock has a par value of $3 per share. Prepare the journal entries for these transactions, assuming that the common stock is on-par with a stated value of $2 per share.
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