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An entity incurred depreciation expenses of P200,000 in its administrative department, and P1,500,000 in its sales department; and salaries of P500,000 in its administrative department, and P600,000 in its sales department.
The summary is as follows:
Administrative Department Sales DepartmentDepreciation Expense 200,000 1,500,000Salaries 500,000 600,000
Problem 1: Present the expenses under the two forms of income statement.
Obtain the 2009 annual report of Vodafone www.vodafone.com. Contrast the accounting approaches used in notes 13 for "investments in joint ventures" and 14 for "investments in associated undertakings." What are key similarities and differences?
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Discuss the types of information needed by external users with examples. Explain the types of compensation Provide with examples.
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