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Access the financial statements from the most recent annual report of a foreign company and a domestic company with which you are familiar to complete this assignment. Required: a. Determine the accounting principles (GAAP) the foreign and domestic companies use to prepare financial statements. b. Determine whether the foreign and domestic companies provide a set of financial statements that includes the same components (e.g., consolidated balance sheet, consolidated income statement, consolidated cash flows statement). c. List five format differences in the companies' income statements. d. List five format differences in the companies' balance sheets. e. Note any terminology differences that exist between the two companies' income statements and balance sheets.
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.
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?
Topeka Stores accepts both its own and national credit cards. During the year the following selected summary transactions occurred.
Prepare the entry required on December 31, 2013, to record the payment of the first 6 months' interest and the amortization of premium on the bonds.
Information regarding Central Company's individual investments in securities during its calendar-year 2011, along with the December 31,2011, fairs value, follows.
Prepare a written memo to Baku and Hanson describing the advantages and disadvantages of each organizational form. Also, from the limited information provided, recommend the organizational form you think they should use.
Pumpkin Bags (PB) is a desiger of high quality backpacks and purses. Each design is made in small batches. Each spring, PB comes out with new designs for the backpack and for the purse.
In accounting for a defined-benefit pension plan a. an appropriate funding pattern must be established to ensure that enough monies will be available at retirement to meet the benefits promised.
Jimmy owns a trucking business. During the current year he incurred the following:
A manufacturer is developing a new board game geared towards children. To be competitive with other board games, the company has set a target price of $25 for the game. The company likes to maintain a target profit equal to 35 percent of the produ..
During the year, Oscar travels from Raleigh to Moscow (Russia) on business. His time was spent as follows: 2 days travel (one day each way), 2 days business, and 2 days personal. His expenses for the trip were as follows (meals and lodging reflect..
When a company adopts a pension plan, prior service costs should be charged to
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