Accounting estimate - Study guides, Class notes & Summaries

Quickbooks Online Certification Questions and Answers 2023 One of the major advantages of all subscription levels of QuickBooks Online have over the desktop version is: All the data is hosted, backed up and secured by Intuit's servers Your client uses QuickBooks Online Simple Start. How many accountant users can your client invite? 2 Your client is moving out of state and wants you to do the monthly accounting in their data file. What would be the best reason to recommend conve...

CLFP EXAM - History & Purpose of Leasing Currently how big is the leasing industry? - Correct answer-American companies acquire $1 billion in equipment each year of which 55% is leased. What % of companies lease? - Correct answer-8 of 10 How old is leasing? - Correct answer-4000 years ago the Sumerians produced leases on clay tablets for ag tools, water rights and animals. The Code of Hammurabi is an ancient record of Babylonian dating back to 1700 bc What is the Statue of Whales? - Corr...

Solutions Manual Financial Accounting for MBAs 8th Edition Easton Solutions Manual Appendix C Comprehensive Case Road Map LO Learning Objective | Topics Page eLecture C-1 Explain and illustrate a review of financial statements and their components. Income Statement :: Balance Sheet :: Statement of Cash Flows :: Audit Opinion C-3 eC–1 C-2 Assess company profitability and creditworthiness. ROE Dis...

Ability of cash flow from operations to cover current debt and dividends - ANSWER Measures ability to cover current debt maturities and dividends with operating cash flow. Accounting estimate - ANSWER An approximation of a monetary amount when a precise means of measurement is not available. Accounting records - ANSWER Client's records of the initial accounting entry and supporting documents. Acid-test (quick) ratio - ANSWER Measures ability to meet short-term obligations with liquid a...

5 basic assertions of accounting - Answer--complete, valuation, existence, ownership, classification, described and disclosed Required accounting criteria from a set of rules or requirements: - Answer--understandability, relevance, reliability, comparability/consistency, lack of bias, and cost-benefit effectiveness Understandability Criteria - Answer--Must be transparent, intelligible, and clearly disclosed Relevance Criteria - Answer--Must be timely, have predictive value, provide useful f...

1. A records inventory cannot succeed without ______ and the cooperation of individual program units. a. Accounting support b. Top management support c. Marketing d. Confidential destruction e. Outside directives Correct Answer-B 2. The records inventory project can be accomplished by internal RIM staff, departmental staff or: a. Auditors b. Corporate attorneys c. Outside consultants d. Marketing e. Human resources Correct Answer-C 3. Before the records inventory project begins i...

bookkeeping - Answer-day to day keeping of transcations steps of decision making - Answer-identify issue gather information identify alternatives select option that most likely results in desired objective accounting - Answer-analysis of events record and report financial effects of business activities where does capital come from (3) - Answer-investors creditors(lenders) business itself (from earnings retained) 2 main types of accounting - Answer-financial and managerial managerial a...

Solution Manual for Intermediate Accounting (Volume 1) 8th Canadian Edition By Thomas H. Beechy, Joan E. Conrod, Verified All Chapters Complete (Newest Version) Intermediate Accounting Volume 1 8E Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel All Chapters 1-11 [With Appendix] Chapter 1: The Framework for Financial Reporting Case 1-1 Mulla and Yang 1-2 Richard Wright 1-3 Taylor Jay Suggested Time Technical 1-1 Chapter overview...

What is the 1st offense penalty for engaging in the practice of residential building without a license? - Answer Not less than $5K and not more than $25K and/or 1 year What is the penalty for engaging in the practice of residential building, resulting in a death? - Answer Not less than $5K and not more than $50K and/or 4 years On your individual builder's license application, what should you write as your "business address"? - Answer Your personal address What is the cost of the indi...

bookkeeping - Answer-day to day keeping of transcations steps of decision making - Answer-identify issue gather information identify alternatives select option that most likely results in desired objective accounting - Answer-analysis of events record and report financial effects of business activities where does capital come from (3) - Answer-investors creditors(lenders) business itself (from earnings retained) 2 main types of accounting - Answer-financial and managerial managerial a...