Tài liệu Khối Ngành Kinh Tế

Customer-Related Intangible Assets Examples: Customer lists, order or production backlogs, and both contractual and non-contractual customer relationships. Capitalize acquisition costs. Amortized to expense over useful life.

57 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 501 | Lượt tải: 0

Unearned Revenues from magazine subscriptions often cover more than one accounting period. A portion of the earned revenue is recognized each period and the Unearned Revenue account is reduced. Notes Payable often extend over more than one accounting period. A three-year note would be classified as a current liability for one year and a long-term ...

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How should companies compute depreciation for partial periods? Does depreciation provide for the replacement of assets? How should companies handle revisions in depreciation rates?

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Let’s return to our machinery and assume that at the beginning of the asset’s third year, its carrying amount is $6,400 ($10,000 cost less $3,600 accumulated depreciation using straight-line depreciation). At that time, it is determined that the machinery will have a remaining useful life of 4 years (instead of the previous estimate of 3 years), an...

48 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 560 | Lượt tải: 0

Illustration: Interstate Transportation Company exchanged a number of used trucks plus cash for a semi-truck. The used trucks have a combined book value of $42,000 (cost $64,000 less $22,000 accumulated depreciation). Interstate’s purchasing agent, experienced in the second-hand market, indicates that the used trucks have a fair market value of $49...

62 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 554 | Lượt tải: 0

At the end of each period, estimate total bad debts expected to be realized from that period’s sales. Two advantages to the allowance method: It records estimated bad debts expense in the period when the related sales are recorded. It reports accounts receivable on the statement of financial position at the estimated amount of cash to be collect...

36 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 641 | Lượt tải: 0

Beginning inventory plus purchases equal total goods to be accounted for. Goods not sold must be on hand. (3) The sales, reduced to cost, deducted from the sum of the opening inventory plus purchases, equal ending inventory.

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A voucher system is a set of procedures and approvals designed to control cash disbursements and the acceptance of obligations. The voucher system of control establishes procedures for: Verifying, approving, and recording obligations for eventual cash disbursement. Issuing checks for payment of verified, approved, and recorded obligations. A re...

33 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 512 | Lượt tải: 0

Under IFRS, LIFO is not permitted for financial reporting purposes. Nonetheless, LIFO is permitted for financial reporting purposes in the United States, it is permitted for tax purposes in some countries, and its use can result in significant tax savings.

59 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 539 | Lượt tải: 0

Computer technology provides accuracy, speed, efficiency, and convenience in performing accounting tasks. A program can be written, for instance, to process customers’ merchandise orders. Multipurpose off-the-shelf software applications exist for a variety of business operations. These include familiar accounting programs such as Peachtree® and Qu...

26 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 525 | Lượt tải: 0