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Your supervisor at YOUCPA wants to know what you think about the proposed change from GAAP to IFRS in the United States and how it will impact revenue recognition.
Describe the methods of revenue recognition under each of the following:
o U.S. GAAP
o IFRS
Describe 1-2 ways in which these 2 methods differ.
Do you think that the traditional U.S. GAAP method of revenue recognition fulfills the needs of the International Financial Reporting System? Why, or why not?
What does the balance of the account represent? Where should the account appear in Southwest Airlines' financial statements?
Based on the information given above, determine David's AGI. Be sure to show your work.
Investigate the profitability that would result if instead of baking 30 batches each morning, they bake 25, 30, 35, or 40 batches. Which would you recommend and why?
Defend the historical cost principle. Use the conceptual frame work concepts and definitions in your defense. Explain how should Mary, treat the cost of cleanup? Is it a land cost, a building cost, or an expense? Explain.
elucidate at least two controls that would maintain the integrity of the payroll master file.
the only other debt outstanding during the year was a $1,000,000, 10-year, 9% note payable dated January 1, 2006. What is amount of interest that should be capitalized by Bass during 2012?
Calculate the total bond interest expense over the bonds’ life. Prepare a straight-line amortization table like Exhibit 10.11 for the bonds’ life.
A gold mine can be purchased for $100 million. Determine the ROR if this investment for the following cases. The estimated useful life of the mine is 10 years.
A customer orders $30,000 worth of goods with direct costs of $24,000. The customer places 200 orders, orders 240 unique items, 1600 items, and makes 22 returns. What is the profit (loss) on this customer?
Discuss the different economic roles of accounting in countries across the world. What are some of the factors that determine the primary role of accounting in a country?
Explain how reported accounting numbers might affect an individual's perceptions and actions. Cite two examples.
The son quit school after one semester and Klemm used the remaining money to buy her son a car. If Klemm's AGI is $25,000, explain how much interest should she include in gross income?
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