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a) In your own words, explain what you understand by the term 'prudence'. How can an 'asymmetrically prudent' accounting treatment lead to the understatement of income in one period but an overstatement in future periods?
b) Do you agree with the board's tentative decision to reintroduce an explicit reference to the notior of prudence (described as caution when making judgements under conditions of uncertainty)? Justify your answer.
Australian student, just 2 questions need to be done, It should be 300 words for each answer, total of 600 words required and the reference should be Harvard referencing.
eppes plating company plans to sell 120000 units of a certain product line at a price of 6. there are 10000 units of
What is the accounting term for this type of acquisition?
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Poodle Corporation was organized on January 3, 2011. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2011, Poodle had the following transactions relating to shareholders' equity:
Aspen Co. expects to maintain the same inventories at the end of 2008 as at the beginnign of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various depart..
Determine the two financial ratios that you believe to be the most important indicators of financial health for a company. Predict two positive or two negative financial outcomes should the chosen ratios change dramatically from one year to anothe..
Your team is to prepare two separate lists of questions that enable you to complete a reliable CVP analysis of this situation. One list is to be answered by the school's administration, the other by the owner of the movie theater.
mayfield company expects to have a cash balance of 46000 on january 1 2010. these are the relevant monthly budget data
The following events apply to Sanford Service Co. for 2013, its first year of operation: 1. Received cash of $60,000 from the issue of common stock. 2. Performed $100,000 worth of services on account. 3. Paid $74,000 cash for salaries expense.
the accounting staff at golden mining company will soon prepareyear- end entries to the accounting system to record the
rule 203-accounting principles analysis of accounting principles and then conduct research and determine at least two
Suppose that your college roommate has approached you with an opportunity to lend $25,000 to her fledgling home healthcare business.
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