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There is a high school accounting intern working in your office for the summer. In the lunchroom, she overhears people talking about financial reporting and GAAP. She doesn't really know what they are, so she asks you to explain them to her.
Explain what accountants are generally referring to when they talk about "financial reporting."
Explain the generally accepted accounting principles (GAAP).
Explain the sources of GAAP.
In your opinion, should the other partners allow the problem partner to re-establish their level of compensation when there was originally an issue? Why/why not?
What worksheet entries are needed in connection with the consolidation of this asset? Assume that the parent applies the partial equity method.
explain the four closing journal entries? why are they necessary? what are reversing entries? why are they used? what
what is vertical analysis? what is the value in using vertical analysis? why would a company use this analysis? what
A government accounts for a municipal landfill in an enterprise fund. How will it determine how much to charge as an expense (and add to a liability) each year that the landfill is in use? Suppose, instead, that it accounts for the landfill in a g..
On August 1, 2011, Lane Corporation called its 10% convertible bonds for conversion. The $8,000,000 par bonds were converted into 320,000 shares of $20 par common stock. On August 1, there was $700,000 of unamortized premium applicable to the bond..
reisner company assembled the following information in completing its march bank reconciliation balance per bank 11460
So what is the effect of a bargain purchase option on accounting for a capital-lease transaction by a lessee?
What are some different ways to convert from accrual to cash accounting?
taurus tools has developed a new kitchen utensil. the firm has conducted significant market research and estimated the
What is a balanced scorecard? How can it help you manage a company? Are there any advantages to using one?
The inventory cost Yukon $260,000 and was sold to Ontario for $390,000. Ontario still had $60,000 of the goods in its inventory at the end of the year. The amount of unrealized intercompany profit which should be eliminated in the consolidation pr..
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