Accounting

|b. |attempts to satisfy the costing objectives of both financial accounting and management accounting. |

Margin of Safety: “Safety Net ” – tells the amount by which sales can be reduced before you reach break -even point. Formulae: Margin of Safety (units) = amount by which total sales can fall before losses are incurred Total Sales – Break-Even Sales Margin of Safety % = % total sales can fall before losses are incurred (Total Sales – Break-Even Sales) / Total Sales

California Surf Clothing Company issues 1,300 shares of $7 par value common stock at $22 per share. Later in the year, the company decides to repurchase 130 shares at a cost of $35 per share.

Xilinx, Inc. designs, develops, and markets complete programmable logic solutions, including advanced integrated circuits, software design tools, predefined system functions delivered as intellectual property cores, customer training, field engineering and technical support. Customers are electronic equipment manufacturers primarily in the telecommunications, networking, computing, industrial, and consumer markets. Products are sold globally through a direct sales management organization and through franchised domestic and foreign distributors. (Source: Company 2007 Form 10-K)

3. What was the balance of Walmart’s allowance for doubtful accounts (ADA) as of January 31, 2012?

347 U.S. 483 Argued December 9, 1952 Reargued December 8, 1953 Decided May 17, 1954 APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF KANSAS* Syllabus Segregation of white and Negro children in the public schools of a State solely on the basis of race, pursuant to state laws permitting or requiring such segregation, denies to Negro children the equal protection of the laws guaranteed by the Fourteenth Amendment -- even though the physical facilities and other "tangible" factors of white and Negro schools may be equal. (a) The history of the Fourteenth Amendment is inconclusive as to its intended effect on public education. (b) The

In the course of normal business operations certain transactions require specific treatment in accordance with generally accepted accounting procedures (GAAP). To properly prepare financial statements, the analysis of working papers is imperative to insuring compliance. Clarification of why information is needed about adjusting lower cost of market inventory on valuation, capitalizing interest on building construction, recording gain or loss on asset disposal, and adjusting goodwill for impairment is presented here.

With reference to the measurement of tangible non-current assets, critically evaluate whether financial statements prepared using IFRS’s provide useful information. Use specific examples from the annual reports of FTSE 100 companies to illustrate your points.

|Selling Price per|Year 1 Sales Units |Year 1 Year End Stock units |Year 2 Unit Sales |Sales Revenue Year 1 |

15. An individual receiving both stock and short term notes for appreciated property has no recognized gain because of &351. Answer: True

SIGNature 's pays of its creditor within a month in 28 days this good for keeping a good relationship with their suppliers, because the suppliers will trust them to pay them back and the business could afford to ask for an extension from them if they need it because of the trust.

Net income is not a sufficient indicator of the financial health of an entity. It only serves as a basis of allocation of expenses from the revenues that are generated for a certain financial period. It involves “noncash expenses,” specifically “depreciation and amortization of intangible assets” that reduces its value, but have no effect on the net cash flows of the business. It also differs with cash flow under the context of timing of revenue and expense versus the actual “occurrence” of cash flows (Williams, et al.). There are other considerations that must be probed at, such as the procurement of funds from credit facilities, the ability to pay short-term and long-term financial obligations, distribution of annual dividends, cash inflow and outflow from operating, financing and investing activities. Along with the income statement, balance sheet and critical analysis of several factors, the use of cash flow statement of the company serves an important indicator of the financial health and continuous operations of the business.

Verizon Communications Inc., headquartered in New York, is a global leader in providing broadband and

IFRS 13 determines the extent to which subjectivity can be applied in the measurement of assets using fair value. The standard states the guidelines that should be followed in determining the value of the long-term assets in an active market (Gary John Previts, 2011).

Accounting Standards Codification (ASC) replaced all U.S. financial accounting standards in July 2009. Consequently, ASC 350, Intangibles – Goodwill and Other, replaced SFAS 142, Goodwill and Other Intangible Assets in September 2011. Under ASC 350, goodwill must be periodically tested for impairment. Goodwill impairment is determined through a two-step process outlined in ASC 350. However, in January 2014, an update to ASC 350 was released, which authorized an alternative method of accounting for goodwill servicing private companies that could consequently reduce their costs and simplify their accounting methods. Additionally, the international standard for goodwill impairment, IFRS 3, specifically mandates that companies must annually test goodwill for impairment. The specifics of the impairment test are entailed in IAS 36 Impairment of Assets, the international standard for accounting for goodwill associated with business combinations. This paper will analyze the effects of the accounting policies enacted under these standards and in particular analyze the efficiency of impairment testing methods versus amortization of goodwill and the connection of impairment methods with managerial and CEO compensation and earnings management. Finally, this paper will analyze if impairment testing under ASC 350 and IAS 36 or amortization, which is