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(Accounting Pronouncements) Standard-setting bodies have issued a number of authoritative pronouncements. A list is provided on the left, below, with a description of these pronouncements on theright.
Match the description to the pronouncements.
1. _____ Staff Positions 2. _____ Interpretations (of the Financial Accounting Standards Board)3. _____ Statement of Financial Accounting Standards4. _____ EITF Statements5. _____ Opinions6. _____ Statement of Financial Accounting Concepts
(a) Official pronouncements of the APB.(b) Sets forth fundamental objectives and concepts that will be used in developing future standards.(c) Primary document of the FASB that establishes GAAP.(d) Provides additional guidance on implementing or applying FASB Standards or Interpretations.(e) Provides guidance on how to account for new and unusual financial transactions that have the potential for creating diversity in financial reporting practices.(f) Represent extensions or modifications of existing standards.
Ddescribe the possible "errors" or "frauds" that could occur because of the control weakness. You are to do this using the information provided in the case.
for the past several years shane banovich has operated a part-time consulting business from his home. as of october
Which of the following best describes assurance services.
(a) Prepare the entry to record the interest expense at April 1, 2015. Assume that interest payable was credited when the bonds were issued (round to nearest dollar).
Top management notices a variation from budget and an investigation of the difference reveals that the department manager could not be expected to have controlled the variation. Which of the following statements is applicable?
total cost 100000 total volume 1000 average cost 100 payer volumes medicare payment rate 95 400 medicaid payment rate
Determine the warranty liability at January 31, the end of the first month of the current year. What accounts are decreased for the warranty work provided in February?
1. sanchez company has just completed a bond issue which resulted in 150000 of 5 year 8 bonds. interest is paid
Fixed costs are $400,000 and the contribution margin per unit is $80. What is the break-even point?
cash9000investments short-term4000accounts receivable13000inventory22000notes receivable
what accounting factors are important before determining whether a pending lawsuit should be accrued as a liability and
How many kilos of Loire is Mien budgeting to purchase in October 2005?
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