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Under current accounting rules, companies cannot recognise internally generated goodwill in their balance sheet. Baruch Lev, an accounting professor at NYU calls this "19th century accounting." In an era when so many companies rely upon their brand and knowledge about their customers to drive sales, this obscures important information from investors. However, standard setters such as the IASB and FASB argue that valuation on such intangibles is far too complex to justify on a cost/ benefit basis.
Student:
Question 1: Provide supports the view of the standard setters.
What benefits can flow from processing sales details on a computer?- What are the legal principles underlying the protection of personal information kept on computers?
ACOO1 - Prepare the necessary journal entries to eliminate the Intangible Assets accounts, and to set up separate accounts for each distinct types of intangible assets.
Parent loaned $200 to Sub. To keep things simple, assume that there is no interest revenue or interest expense associated with this loan. Parent made a sale to Sub for $300 cash. The inventory had originally cost Parent $220. Sub then sold that same ..
Ajax Division desires to maximize its gross margin, should Ajax take on the new customer and drop its sales to Bradley for 2005, and why?
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Find and Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO)
Evaluate the relevant costs of the old machine and the new machine.
The objective of this assignment is to assess the investment conditions in the Australian economy form Top Down Fundamental Analysis.
Equipment will have a $59800 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be
Using the Top-to-Toe information in Question, prepare a balance sheet for the business as at 31 December 1998.- Prepare the profit and loss account for Top-to-Toe.
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