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Financial Accounting
An accounting technique that records, interprets, and reports the historical cost transaction of an organization. An organization records these transactions in bookkeeping journals and ledgers. To understand the transactions, it uses, between other analytic tools, a series of ratios, such as acid test ratio, present ratio, inventory turnover, debt-to-equality ratio, and so on. Financial reports include financial statements (balance sheet, income statement, statement of cash flows), as well as special internal monetary reports that are unique to each organizations.
On December 1, 2013, Colonel Wilder borrowed $400,000 at 12% interest and pledged $500,000 in accounts receivable as collateral. Additionally, Colonel Wilder was charged a finance
Question : i) Show the interdependence of business strategy and Information Systems in an organization. ii) Distinguish using suitable examples between decision-support syst
The following items represent liabilities on a firm's balance sheet: a. An amount of money owed to a supplier based on the terms 2/20, n/40, for which no note was executed. b. An a
Explain the mechanism that states use to prevent the double taxation of the income of a corporation doing business in two or more states.
Wendy is evaluating a capital budgeting project that should last for 4 years. The project requires $ 800,000 of equipment. She is unsure what depreciation method to use in her anal
PRESUMPTION OF SURVIVORSHIP Where two or more persons have died in circumstances rendering it uncertain which of them survived the other or others, the deaths shall, for all pu
We have discussed the computation of the future value in the previous sections; here let us work the process in opposite. Let us assume you have won a lottery ticket worth Rs. 1000
Presented below are condensed financial statements adapted from those of two actual companies competing as the primary players in a specialty area of the food manufacturing and dis
Explain the meaning of the terms "tangible" and "intangible" and discuss how these terms are used in describing assets.
PCAOB - Public Corporation Accounting Oversight Board, a private-sector, non-profit corporation created by Sarbanes-Oxley Act of 2002, to oversee AUDITORs of public companies in or
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