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Financial Accounting Fundamentals6th EditionJohn J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles Publisher: McGraw-Hill EducationISBN: 9781259726910
Financial Accounting Fundamentals
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Utilizing the first thirteen chapters of Wild’s best-selling, Financial and Managerial Accounting text, Financial Accounting Fundamentals
responds to the market’s request for a low-cost, succinct book; a book that balances large and small businesses, and one that is contemporary, engaging, and accessible for today’s students. Its innovation is reflected in its extensive use of small business examples, the integration of new technology learning tools, superior end-of-chapter material, and a highly engaging, pedagogical design.
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addHistorical cost principle: This is an accounting principle which states that the actual cost paid in...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Option (a): If the Company forgot to record the accrued and unpaid wages of $350,000 will over-state...Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to...First-in-First-Out (FIFO): In this method, items purchased initially are sold first. Therefore, the...Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,...Accounts receivable Accounts receivable refers to the amounts to be received within a short period...Lump-Sum purchase: If a company purchases a group of assets collectively and a lump sum amount is...Interest Expense: Interest expense refers to the cost of debt incurred by the company for the use of...
Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from...Share issue cost: Cost such as legal fee, promotional charge, and accounting services incurred for...Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and...Horizontal analysis: The comparison of an item of a financial statement of one year against the same...Future value: The future value is value of present amount compounded at an interest rate until a...Working note: Debt investment: Debt investments refer to the investments made in debt instrument by...
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