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In this type of system store balances are recorded and computed after all receipt and issue. The main focus of this system is to make obtainable details regarding the quantity and value of stock at all points of time. If the balance of any item of inventory reduces below a particular pre-found level the order is placed for an additional quantity of inventory. In such system physical verification is completed after every issue and receipt as a result of that system is expensive, but at the similar time materials monitoring, statement and follow up action can be easily carried out.
A company is considering the purchase of new equipment for $45,000. The projected after-tax net income is $3,000 after deducting $15,000 of depreciation. The machine has a useful l
Brushy Mountain Mining Company's ore reserves are being depleted, so its sales are declining. Also, its pit is getting deeper every year, so its costs are rising. As a result, the
This is partly taken from a court case where one of my colleagues was a witness. Suppose that an employee is terminated without cause and that she sues the company for compensation
Determine the Various forms of business organizations There are various forms of business organizations: o Business-organization's objective is to earn a profit o Sole Pr
Swap - Financial contract in which 2 parties agree to exchange net streams of payments over a specified period. Payments are normally determined by applying different indices (for
Personal Financial Specialist (PFS) - CERTIFIED PUBLIC ACCOUNTANT who specializes in PERSONAL FINANCIAL PLANNING and completes a series of requirements which compriseexperience, ed
Q. Explain bonus or capitalisation issues? A rights issue is a approach of raising finance via the issue of shares to existing equity shareholders. Consecutively to make such a
On 1 January 2008, a young artist called Michelangelo signed a contract with a charity named Art Angels, which supports young artists to do large projects. The agreement requires M
Accounting treatment of deferred tax The objective of accounting for deferred tax is to ensure that the profits for the period d onto fluctuate due to temporary differences. To a
Q. Show the Audit Documentation? Audit Documentation -Written record of the basis for AUDITOR's conclusions which provides the support for auditor's representations, whether th
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