Evaluation methods in financial accounting (infosystem and abap reports of general ledger accounting, accounts receivable accounting, and accounts payable accounting, report variants, selection variables in variants, list viewer, sample evaluations using the drilldown reporting tool. Financial accounting ii (mgt-401) assignment no 01 stars (pvt) ltd recorded its assets on historical cost basis it has never practiced to revalue its assets at current market price. Financial accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business this involves the preparation of financial statements available for public consumption. Problem: imran limited imported technical machinery costing rs 300,000 on july 01, 2003 it further incurred the following expenses on the machinery: import duty rs 100,000 non-refundable taxes rs 5,000 transportation cost rs 6,000 to bring the machinery to factory premises insurance in transit rs 4,000 initially the useful life was estimated to be five years and depreciation was provided. Which method of reporting cash flows from operations does the company use compare the net cash provided/used from operations to the net income amount on the income statement for all of the years.
The financial accounting exam covers skills and concepts that are generally taught in a first-semester undergraduate financial accounting course the exam contains approximately 75 questions to be answered in 90 minutes. Acc611m financial accounting ii lead faculty: dr joyce ellis course description the second course of a comprehensive three-course sequence covering a substantial portion of us financial reporting principles known as gaap, accounting for tangible assets, natural resources and intangible assets, current and long-term liabilities, leases, and shareholder equity. Henry and thomas share gains and losses in the ratio of 2:1 after selling all assets for cash and paying all liabilities, the cash account has $12,000 in it.
Management accounting fundamentals of accounting ii content: this course is a review of concepts of how accounting is designed to help management make its most important financial decisions. It presentsthe core concepts of advanced financial accounting (precisely the corporateaccounting) in a lucid and easy-to-understand manner it has been revised in light of the changesbrought about in due to the companies act, 2013 and latest accounting standards(such as as-10 substituting as-6. Feedback from students in previous offerings of financial accounting ii have indicated that it is necessary to have a solid foundation in the pre-requisite accounting knowledge acquired in previous accounting courses to succeed in this course. Start studying financial accounting ii: ch 13-14, appendix b learn vocabulary, terms, and more with flashcards, games, and other study tools. Acct 1105 financial accounting ii (4) introduces the intermediate financial accounting concepts that provide the student with the necessary skills to maintain a set of books for a partnership and corporation.
Cliffsnotes study guides are written by real teachers and professors, so no matter what you're studying, cliffsnotes can ease your homework headaches and help you score high on exams. Accounting firm about the impact of possibly changing financial accounting in this country so that all reporting abides by international accounting rules rather than solely us standards 6. Financial accounting ii august 2010 2nd year paper 4 section a answer all three questions in this section question 1 (compulsory) (a) ias 1, presentation of financial statements, sets down a number of principles that govern the preparation and presentation of financial statements. Accounting ii expands on what the student learns in accounting i it is focused on corporate accounting this course discusses how corporations are structured and formed, with an emphasis on corporate characteristics stocks, bonds, notes, purchase investments and analysis of financial statements are included, as well as an in-depth look at managerial accounting.
At december 31, 2011 hansen corporation had 50,000 shares of common stock and 5,000 shares of 6%, $100 par cumulative stock outstanding no dividends were declared or paid in 2011. Don't show me this again welcome this is one of over 2,200 courses on ocw find materials for this course in the pages linked along the left mit opencourseware is a free & open publication of material from thousands of mit courses, covering the entire mit curriculum no enrollment or registration. Financial accounting ii accounting concepts and standards topics include: accounting cycle, financial reporting, financial statement analysis, cash flows, income tax allocation, measurement and valuation of liabilities equity, leases, and pensions additional work required of graduate students. Recommended reading: core reading: 1 ifrs issued by icap 2 icap study text & practise material (latest edition) 3 icap examiner comments 4 gca consolidated past papers.
Financial accounting - ii objectives: the course will enable the students to maintain the accounts of partnership firms, branch accounts, departmental accounts and hire purchase accounts the students will also be able to calculate the amount of claims in case of fire insurance. This course is the second of the three part series of courses related to intermediate accounting this section examines the balance sheet in more detail, including intangible assets, current liabilities and contingencies, long-term liabilities, as well as cash and cash equivalents.
Financial accounting vi objectives and scope of accounting let us go through the main objectives of accounting: to keep systematic records: accounting is done to keep systematic record of financial transactions the primary objective of accounting is to help us collect financial. Lecture notes exams readings download course materials managerial accounting and financial reporting : 20: wrap-up need help getting started don't show me this again don't show me this again welcome this is one of over 2,200 courses on ocw find materials for this course in the pages linked along the left. Financial accounting ii once you become familiar with the material covered in financial accounting i, this more-advanced class will enable you to master topics surrounding advanced depreciation, bonds, stock equity, capital transactions, dividends and investments, subsidiary ledgers, liabilities, and taxes.