For profit and government organization

Assignment Help Accounting Basics
Reference no: EM13124378

What are the differences in financial reporting in a for-profit and government organization? What are the similarities in financial reporting in a for-profit and government organization? How do these differences and similarities affect the comparability of financial reports? Should these reports be comparable? Explain your response.

Reference no: EM13124378

Questions Cloud

Illustrate what is the material purchase price variance : Direct material 9 feet at $5.00 per foot. Actual information for July: 2,000 units were produced; 20,000 feet of direct material were purchased at a cost of $92,000 and 19,000 feet of material were used. Illustrate what is the material purchase pr..
Algebra-linear equations and inequalities : The surface area S of a right prism is given by S = 2B + Ph. The length of a rectangle is five times its width. If the area of the rectangle is 500m², find its perimeter.
Group homomorphism and abelian groups : Group Homomorphism and Abelian Groups, Let phi: G ---> H be a group homomorphism. Show that phi[G] is abelian if and only if for all x, y in G, we have xyx^(-1)y^(-1) in ker(phi).
Group homomorphism and abelian groups : Group Homomorphism and Abelian Groups, Let phi: G ---> H be a group homomorphism. Show that phi[G] is abelian if and only if for all x, y in G, we have xyx^(-1)y^(-1) in ker(phi).
For profit and government organization : What are the differences in financial reporting in a for-profit and government organization? What are the similarities in financial reporting in a for-profit and government organization?
Which is accurate with respect to the federal estate tax : Under Carl's will, Carl created a testamentary trust to be funded with $700,000 worth of assets. All of the income of the trust is payable to Carl's child, Jane, for her life, and thereafter, the remaining assets of the trust will pass to The Publ..
An academic or professional environment : Why do you think ethics are of concern in an academic or professional environment? How might you determine your personal ethics?
Converting linear equations to slope-intercept form : Write the two equations in slope-intercept form, and then determine how many solutions the system has.
For-profit and not-for-profit organization : What are the differences in reporting guidance in a for-profit and not-for-profit organization? What are the similarities in reporting guidance in a for-profit and not-for-profit organization?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Journal entry of bond redemption

The balance sheet for Reading Company reports the following information on July 1, 2010. Reading decides to redeem these bonds at 102 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2010.

  Roi and persuasive arguments to see more possibilities

You manage an investment center (evaluated based on the return on investment). Your production manager brings you a potential deal, a large piece of equipment that can help the company save money.

  How much should be amortized by smith co. for year ended

Smith has decided to write off the franchise over the longest possible period. How much should be amortized by Smith Co. for the year ended December 31, 2008?

  Who is the commissioner of the irs

For the Project, you will need to submit a written research paper which answers the following questions. This Project is due by Sunday, December 9, 2012. Please read the instructions below.

  Making of classified balance sheet

From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.

  Question on maturity matching principle

Describe the maturity matching principle. What are the risks of not matching maturities? How would you characterize a firm that ignores the principle? Can you think of situations in which it would be advisable for an otherwise prudent firm to dev..

  Increasing company value for stakeholders

What are the factors that lead to a valuation of a company's worth compared to that of the financial statements? How do company executives create the most value for all stakeholders?

  What amount was transferred to finished goods

During 2012, Sand, Inc. expected Job No. 51 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Sand applied overhead based on direct labor cost. Actual production required an overhead cost of $280,000, $550,000 in material..

  Money market hedge

Explain the steps to take for a money market hedge. You need to describe clearly the amounts which are related to the actions to take.

  Operation of the partnership prevail

aesar and Junius orally agreed to become partners in a food testing business. one-half of $80,000, the reasonable value of Caesar’s services during the operation of the partnership. Who will prevail and why?

  Prepare a production budget

They also have a policy of maintaining a raw material inventory at the end of each month equal to 20% of the pounds needed for the following month's production. There were 3,920 pounds of raw material on hand at Dec. 31, 2010, For the first quarter o..

  Vertical integration-control over valuable assets

When a fast food chain store, say Wendy's, chooses to acquire the largest cattle ranch in Nebraska, this is said to be a clear example of vertical integration.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd