Ac 550--Week 1 Assignment Essay

11. According to Citizens United v. Federal Election Commission, which of the following is not a reason to allow corporations the right to spend money and advertise for political candidates?

The FASB should consider economic consequences in the standard setting process; “The Board cannot cease to be concerned about the cost-effectiveness of its standards. To do so would be a dereliction of its duty and a disservice to its constituents”. (SFAC No.2 P. 144) FASB member Victor H. Brown identified the economic costs to consider:

Classify each of the items as an asset, liability; revenue; or expense from the company's viewpoint. Also indicate the normal account balance of each item.

On most Linux distributions the package management system can download and install MySQL with minimal effort, though further configuration is often required to adjust security and optimization settings.

ACC290 Week 4 Exercises - P4-8A | | | | | | | | | | | | | | | | | | | | | | | | | | P4-8A | | | | | | A. Journalize Transactions | | | | | | | | | | | | | | Date | Account Titles and Explanations | Debit | Credit | | | | 2012 | | |   | | | | 07/01/12 | Cash | 12000 |   | | | |   | Common Stock | | 12000 | | | |   | (Issued Stock for Cash) | |   | | | | 1 | Equipment | 8000 |   | | | |   | Cash | | 2000 | | | |   | Accounts Payable | | 6000 | | | |   | (Purchased Truck with Cash and Account) | |   | | | | 3 | Supplies | 900 |   | | | |   | Accounts Payable | | 900 | | | |   | (Purchased Supplies on Account) | |   |

According to the Notice to Constituents (v4.7), the FASC superseded all previous level (a)-(d) US GAAP (refers to the previous accounting hierarchy) standards by a standard setter. This means that all other accounting literature not included in the Codification is non-authoritative.

GAAP, but are provided here to give the statement users a more precise understanding of the financial position of the entity.

The AICPA published the generally accepted auditing standards (GAAS). GAAS are those guidelines which auditors must follow while conducting an audit of a company's financial statements. It must also be stated in the audit report that the audit was conducted following GAAS.

Which of the following acts, passed in response to public outrage over conditions described in Upton Sinclair's The Jungle, was the first consumer protection legislation?

Which of the following would not be considered an external user of accounting data for the Julian Company?

It is with great regret, and deepest sorrow that I announce to you today, August 5, 2010, the collapsing of our Copper mine in Copiapó trapping our family members far below the surface. At this moment we are not aware of their fate, or location, and we are making every effort possible to rescue your loved ones, and bring them back safely. We have contacted our Mining Minister Laurence Golborne to assist us with the rescue efforts. President Sebastian Pinera is also aware of this tragic accident.

A.(4)- Receiving reports are prepared for all materials received and such reports are accounted for on a timely basis.

  * All clients pay tuition in advance, and their payments are credited to the Unearned Tuition Revenue account. The account was credited for $65,500 on August 31. With the exception of $15,500 all amounts were for the current semester ending on December 31.

Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

GAAP (Generally Accepted Accounting Principles) determine the content and format of financial statements. SEC (Securities and Exchange Commission) requires publicly traded companies to issue annual audit. Concerns are about adequacy of disclosure; and behavioral implications are secondary.