Tài liệu Kế Toán - Kiểm Toán

Part I Although a manager or owner may intuitively sense how the business is doing, a more reliable management approach is to evaluate the revenues and expenses reported on the income statement. This slide illustrates the income statement based on the operating activities that were expected for Pizza Aroma as discussed in Chapter 1. This projected...

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Part I Mauricio Rosa incorporates Pizza Aroma Inc., on August 1. The company issues stock to Mauricio and his wife as evidence of their contribution of $50,000 cash, which is deposited in the company’s bank account. Part II Analyze the transaction. In this case Cash, an asset, increased by $50,000, and Contributed Capital, a Stockholders’ Equity...

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The fourth financial statement is the Statement of Cash Flows. It includes only those activities that result in cash changing hands. The statement is divided into three categories of business activities. The operating section reports cash transactions directly related to running the business to earn profit. This section includes cash transactions s...

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Based on the joint FASB and IASB Financial Statement Presentation project, the statement of cash flows is slated to change in several ways. Operating and Investing cash flows would be categorized as “Business” activities and some cash flows may switch categories. The statement would have three additional groupings: income taxes, discontinued oper...

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Examples include: Use of inappropriate principle Mistakes in applying GAAP Arithmetic mistakes Fraud or gross negligence in reporting For all years presented, financial statements are retrospectively restated to reflect the error correction.

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The if-converted method is used for convertible debt and equity securities. The method assumes conversion occurs as of the beginning of the period or date of issuance, if later. Report EPS data separately for: Income from Continuing Operations Separately Reported Items Discontinued Operations Extraordinary Items Net Income

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Are usually stated as a percentage of the par or stated value. May be cumulative or noncumulative. May be partially participating, fully participating, or nonparticipating. Unpaid dividends must be paid in full before any distributions to common stock. Dividends in arrears are not liabilities, but the per share and aggregate amounts

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Expected Postretirement Benefit Obligation (EPBO) – The actuary's estimate of the total postretirement benefits (at their discounted present value) expected to be received by plan participants. Accumulated Postretirement Benefit Obligation (APBO) – The portion of the EPBO attributed to employee service to date.

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A valuation allowance account is needed if it is more likely than not that some portion of the deferred tax asset will not be realized. The deferred tax asset is then reported at its estimated net realizable value.

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Sometimes a lessee will make improvements to leased property that reverts back to the lessor at the end of the lease. Like other assets, leasehold improvement costs are allocated as depreciation expense over its useful life to the lessee, which is to be the shorter of the physical life of the asset or the lease term.

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