Tài liệu Kế Toán - Kiểm Toán

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: 680 | 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...

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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...

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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...

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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

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Service departmentcosts are allocatedto other service departments andto productiondepartments, usuallystarting with theservice departmentthat serves thelargest number of other service  departments.

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Net Present Value The cost of capital is used as the actual discount rate. Any project with a negative net present value is rejected. Internal Rate of Return The cost of capital is compared to the internal rate of return on a project. To be acceptable, a project’s rate of return must be greater than the cost of capital.

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A firm’s demand and marginal revenue curves are difficult to discern with precision. The marginal revenue, marginal cost paradigm is not valid for all forms of markets. Marginal cost is difficult to measure.

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Accept or Reject a special order Outsource a Product or Service Add or Drop a Service, Product or Department Special Decisions in Manufacturing Decisions Involving Limited Resources

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The accounting systems of federal agencies must serve both the external financial reporting needs mandated by the Chief Financial Officers’ Act and the necessity of having internal budgetary controls over the spending of public resources. This is accomplished through the maintenance of two self-balancing sets of accounts, termed budgetary and pro...

21 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 506 | Lượt tải: 0