Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Chapter 1, Problem 12C
To determine
Draft a memorandum explaining the structure of FASB Accounting Standard Codification system, its structure, and instructions to use the system effectively.
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Advanced Accounting requires many rules and regulations. The latter come from many sources. In your Journal this week you will research two rules or regulations that pertain to Advanced Accounting topics and submit them to your Unit 1 Journal. For each of the rules or regulations, answer the following questions.
What is the name of the rule or regulation?
What agency or government created the rule or regulation?
Does any agency or government have the power to enforce the rule or regulation? If so how? If not, does this hinder the enforcement of the rule or regulation?
Prepare an explanatory memorandum about financial performance and record keeping requirements.
The operations manager of Metharom Construction has asked you to prepare an explanatory memorandum for the accounting staff.
They have requested that you include the following information:
A) a description of a minimum of 5 financial records that the company must maintain
B) any three factors while selecting software that could assist with finance management for small business
C) list any 5 regulatory requirement for lodgement and payment of statutory obligations
D) a set of policies to for Debt recovery procedures (minimum 3)
E) explain how financial performance will be monitored (include a minimum of 2 key performance indicators)
F) set of minimum 6 written financial procedures for Metharom which will help in financial health check for stakeholders
G)This document must then be sent electronically to the Operations Manager (your assessor) as well as submitted in hard copy.
Using the following prompts, share your experience learning about Accounting Information Systems:
What is your overall reflection of the course?
What were one or two of the topics covered in Module 8 that you think are most relevant for accountants now?
Which course topic(s) did you find most interesting?
Which of the topics did you find most confusing or challenging?
Chapter 1 Solutions
Intermediate Accounting: Reporting And Analysis
Ch. 1 - Prob. 1GICh. 1 - Prob. 2GICh. 1 - Prob. 3GICh. 1 - Prob. 4GICh. 1 - Prob. 5GICh. 1 - Prob. 6GICh. 1 - Prob. 7GICh. 1 - What are the two primary forces determining the...Ch. 1 - Prob. 9GICh. 1 - Prob. 10GI
Ch. 1 - Prob. 11GICh. 1 - Prob. 12GICh. 1 - Prob. 13GICh. 1 - Prob. 14GICh. 1 - Prob. 15GICh. 1 - Prob. 16GICh. 1 - Prob. 17GICh. 1 - Prob. 18GICh. 1 - Prob. 19GICh. 1 - Prob. 20GICh. 1 - Prob. 21GICh. 1 - Prob. 22GICh. 1 - Prob. 23GICh. 1 - Why do accountants have to be ethical in their...Ch. 1 - Prob. 25GICh. 1 - Prob. 1ECh. 1 - Prob. 1CCh. 1 - Prob. 2CCh. 1 - Prob. 3CCh. 1 - Prob. 4CCh. 1 - One of your friends remarks, I understand that...Ch. 1 - Prob. 6CCh. 1 - Prob. 7CCh. 1 - Prob. 8CCh. 1 - Prob. 9CCh. 1 - Prob. 12CCh. 1 - Prob. 13CCh. 1 - Codification Situation You are conducting an...
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