Tài liệu Khối Ngành Kinh Tế

Management decisions in accounting for inventory involve the following: Items included in inventory and their costs. Costing method (specific identification, FIFO, or weighted average cost). Inventory system (perpetual or periodic). Use of market values or other estimates. Choices made concerning these four points affect the reported amoun...

42 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 521 | Lượt tải: 0

Illustration: Mr. Goodwrench deposits $2,500 today in a savings account that earns 9% interest. He plans to deposit $2,500 every year for a total of 30 years. How much cash will Mr. Goodwrench accumulate in his retirement savings account, when he retires in 30 years?

83 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 508 | Lượt tải: 0

Purchase Return . . . Merchandise returned by the purchaser to the supplier. Purchase Allowance . . . A reduction in the cost of defective or unacceptable merchandise received by a purchaser from a supplier.

42 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 509 | Lượt tải: 0

Sources of Information Information obtained from several sources: (1) comparative statement of financial position, (2) current income statement, and (3) selected transaction data.

76 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 519 | Lượt tải: 0

Here are the four steps we always follow in the closing process. First, we close all revenue accounts to the income summary. We move the balance in all revenue accounts from the account to the income summary. This process will cause all revenue accounts to have a zero balance. Remember that revenue accounts normally have a credit balance. Next, w...

41 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 597 | Lượt tải: 0

Elements of the Income Statement Expenses – Decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity, other than those relating to distributions to shareholders.

73 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 670 | Lượt tải: 0

Dollar signs are not used in journals and ledgers. Dollar signs appear in financial statements and other reports such as trial balances. The usual practice is to put dollar signs beside only the first and last numbers in a column. When amounts are entered in the journal, ledger, or trial balance, commas are optional to indicate thousands, million...

38 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 695 | Lượt tải: 0

Measurement Cost is generally thought to be a faithful representation of the amount paid for a given item. Fair value is “the amount for which an asset could be exchanged, a liability settled, or an equity instrument granted could be exchanged, between knowledgeable, willing parties in an arm’s length transaction.” IASB has taken the step of giv...

32 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 509 | Lượt tải: 0

Listed on your screen are four fundamental principles of accounting. The revenue recognition principle states that revenue is to recognized when it is earned, that the revenue need not be in the form of cash and that we measure revenue by the cash received plus cash value of other items received. The cost principle tells us that accounting informat...

45 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 572 | Lượt tải: 0

The Expectations Gap What the public thinks accountants should do vs. what accountants think they can do. Significant Financial Reporting Issues Non-financial measurements Forward-looking information Sort assets Timeliness

48 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 549 | Lượt tải: 0