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1. What are examples of irregular items? How does a change in accounting principles affect the financial statements? Who in the company is responsible for the application of a change in an accounting principle? Why?
2. What is a horizontal analysis? What is the value in using horizontal analysis? Why would a company use horizontal analysis? What does this analysis tell you?
Forest Products, Inc., busy and develops natural resources for profit. Since 2006, it has had the following activities:
During 2006, Edgemont Corporation had revenues of $230,000 and expenses-Compute the retained earnings on December 31, 2005, and 2006.
Earnings announcements by companies are closely followed by, and frequently result in, share price revisions. Two issues should come to mind. First, earnings announcements concern past periods, If the market values stocks based on expectations of ..
Write down an essay on legal issues surrounding Solyndra, the California based solar panel manufacturer.
Brain Drain is about to launch a new product. Depending on the success of the new product, there are three possible outcomes for value next year-What is Brain's total value with leverage?
With the globalization of corporate business and cross border security listings, the need for a common set of accounting standards to be applied worldwide emerged to the surface. Both the IASB and the FASB have taken steps towards this goal.
Preparation of classified balance sheet using given data, From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
Wertz Corporation decided at the beginning of 2010 to change from the completed-contract method to the percentage-of-completion method for financial reporting purposes.
What is the difference between using the percentage of sales and percentage of receivables method for calculating doubtful accounts? Is it appropriate to use a hybrid of the percentage of sales and the percentage of receivables methods of calculat..
What are the most important risks for the audit of the acquisition and payment cycles in the automotive industry?
Recognize the industries of your six selected securities. (including BONDS)
Mikor has an account payable of 7,700$ due to Smiley Inc. one of its suppliers. The amount was due to be paid on October 15, 2007. Use the horizontal model, or write the journal entry to show the effect of :
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