Entries by mary WAMBUGU

1. If a Company changes from an inappropriate accounting principle to an appropriate accounting principle in the preparation of its latest financial statements, is this change a change in accounting principle or a correction of an accounting error? Why?

September 10, 2019 in /by

1.  If a Company changes from an inappropriate accounting principle to an appropriate accounting principle in the preparation of its latest financial statements, is this change a change in accounting principle or a correction of an accounting error?  Why?   2.  Provide 3 specific examples of changes in accounting principle. 3.  There are two approaches […]

 

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1. Explain in detail the two alternative methods a company may use to report a net operating loss (reports a Loss Before Income Taxes). Be specific and detailed in your answer.

September 10, 2019 in /by

1.  Explain in detail the two alternative methods a company may use to report a net operating loss (reports a Loss Before Income Taxes). Be specific and detailed in your answer.   2. The Williams Corporation, which operates on a calendar year, started its operations on January 1, 2015.    Williams pay corporate income taxes at the […]

 

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On January 1, Year 7, Colorado Corp. purchased a machine having an estimated useful life of 8 years and no salvage value.

September 10, 2019 in /by

On January 1, Year 7, Colorado Corp. purchased a machine having an estimated useful life of 8 years and no salvage value. The machine was depreciated by the double-declining-balance (DDB) method for both financial statement and income tax reporting. On January 1, Year 9, Colorado justifiably changed to the straight-line method for both financial statement […]

 

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Project Descriptions SEC 10-K Paper You will be asked to select a company that is publically traded. You must research and secure the SEC 10-K Annual Report for the most recent year. This is often available at the company web site. Look for “Investor Information” or “Company Information”.

September 10, 2019 in /by

Project Descriptions SEC 10-K Paper You will be asked to select a company that is publically traded. You must research and secure the SEC 10-K Annual Report for the most recent year. This is often available at the company web site. Look for “Investor Information” or “Company Information”. Save the file to your computer for […]

 

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