Tài liệu Kế Toán - Kiểm Toán

Which of the following accounting pronouncements is the most authoritative? FASB Statement of Financial Accounting Concepts. b. FASB Technical Bulletins. c. AICPA Accounting Principles Board Opinion. d. AICPA Statement of Position.

35 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 533 | Lượt tải: 0

Companies should present a statement identifying the accounting policies adopted and followed. Should present the disclosure as first note or separate Summary of Significant Accounting Policies section preceding the notes to the financial statements.

67 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 570 | Lượt tải: 0

Illustration: Tax Consultants Inc. started on January 1, 2016, when it issued 60,000 shares of $1 par value common stock for $60,000 cash. The company rented its office space, furniture, and equipment, and performed tax consulting services throughout the first year. The comparative balance sheets at the beginning and end of the year 2016 appear i...

73 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 570 | Lượt tải: 0

Illustration: Denson Company has accounted for its income from long-term construction contracts using the completed-contract method. In 2017, the company changed to the percentage-of-completion method. Management believes this approach provides a more appropriate measure of the income earned. For tax purposes, the company uses the completed-contrac...

78 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 527 | Lượt tải: 0

For a capital lease, the FASB has identified four criteria. Lease transfers ownership of the property to the lessee. Lease contains a bargain-purchase option. Lease term is equal to 75 percent or more of the estimated economic life of the leased property. The present value of the minimum lease payments (excluding executory costs) equals or exce...

105 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 634 | Lượt tải: 0

Defined contribution plans have become much more popular with employers than defined benefit plans, as indicated in the chart below. One reason is that they are cheaper. Defined contribution plans often cost no more than 3 percent of payroll, whereas defined benefit plans can cost 5 to 6 percent of payroll. The total amount of pension assets held by pe...

75 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 497 | Lượt tải: 0

Some analysts dismiss deferred tax liabilities when assessing the financial strength of a company. But the FASB indicates that the deferred tax liability meets the definition of a liability established in Statement of Financial Accounting Concepts No. 6, “Elements of Financial Statements” because: It results from a past transaction. In the Chelsea ...

97 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 561 | Lượt tải: 0

A contract is an agreement between two parties that creates enforceable rights or obligations. In this case, Boeing has signed a contract to deliver airplanes to Delta. Boeing has only one performance obligation—to deliver airplanes to Delta. If Boeing also agreed to maintain the planes, a separate performance obligation is recorded for this pr...

141 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 560 | Lượt tải: 0

Illustration: Z-Smith Company purchased $100,000 of 8 percent bonds of Bush Corporation on January 1, 2016, at a discount, paying $92,278. The bonds mature January 1, 2021 and yield 10%; interest is payable each July 1 and January 1. Z-Smith records the investment as follows: January 1, 2016

128 trang | Chia sẻ: huyhoang44 | Ngày: 26/03/2020 | Lượt xem: 616 | Lượt tải: 0

Illustration: Moore Corporation has outstanding 2,000, $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bonds are converted on December 31, 2017, when the unamortized discount is $30,000 and the market price of the stock is $21 per share. Prepare the entry to record the conversion of the bonds.

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