Because the exercise generates crucial information on operational risks and internal controls, internal auditors and managers can use RCSA findings to judge the quality of control. A relevant assertion is a financial statement assertion that has a reasonable possibility of containing a misstatement or misstatements that would cause the financial statements to be materially misstated. The determination of whether an assertion (more…) […]
You cannot recognize revenue twice for the same service. In September the company is merely collecting an accounts receivable. This means the credit should be to Accounts Receivable. Liabilities decrease on the debit side; therefore, Accounts Payable will decrease on the debit side by $3,500. Cash was used to pay the dividends, which means cash is decreasing. Cash is an asset that decreases on the credit side. Cash was used to pay the utility bill, which means cash is decreasing. Cash is an ass […]
Adjustments are not so much a matter of fixing errors, as they are improvements in the accounting accuracy. The intent is to match revenues and expenses more correctly to the appropriate period. He trial balance period is the time between final posting to the ledger and transfer of account balances to financial statements. And, they also to search for errors that the trial balance overlooks. The firm would prefer instead to find mistakes itself during the trial balance period, then having exter […]
In most cases it can be easily calculated by multiplying the share price with the amount of outstanding shares. Booster Pack quotes are additional to your monthly quote allotment from all sources, including commissions.
The amount by which the inventory item was written down is recorded under cost of goods sold on the balance sheet. Cost Plus opened its first store at 2552 Taylor Street on Fisherman’s Wharf in San Francisco, California, in 1958. Founder William Amthor discovered that (mo […]
The intercept has no meaning for the model, as the purpose of regression analysis is to evaluate the relationship between the predictor and the target. However, the intercept is vital for calculating predictive values. It is a statistical equation that best fits a set of observations of dependent and independent variables. The purpose is to estimate the underlying relationship so that we can predict the target variable based on the other . Use account analysis to estimate the fixed costs per ye […]
The future value measures how much regular payments will be worth given a specified rate of interest in the future at some point. Likewise, if an individual thinks to invest a specific amount each year or month, future value tells him how much will he accumulate as of a future date. Moreover, If a person is making regular payments on a loan, the future value helps in determining the total cost of the loan. So, It is used to derive the current value of cash payments that are to be made in predet […]
The application and contract must describe any discretion retained by the insurer to limit the frequency or dollar amount of premium. A contract where the insurer retains the discretion to limit premium must provide a statement to the effect that the right to limit premium would not be exercised in an unfairly discriminatory manner. No specification of an interest rate or mortality table as specified in §4223. With all of the inputs above at hand, it’s fairly simply to value various types […]
IRS publication 946 provides the tax depreciation method for each type of asset that your business owns. The double-declining balance method posts more depreciation expenses in the early years of an asset’s useful life. The double-declining balance method is an accelerated depreciation method because expenses post more in their early years and less in their later years. This method computes the depreciation as a percentage and then depreciates the asset at twice the percentage rate. Busin […]
For example, a dearth of any one good would create a higher price generally, which would reduce demand, leading to an increase in supply provided the right incentive. The same would occur in reverse order provided there was excess in any one market. Alterations to overall supply or demand dictate the cross-section or equilibrium, ascertaining price and volume for a product or service. The concepts of consolidated markets and ‘sticky’ markets reduces the accuracy of these models. Hav […]
She holds a Bachelor of Science in Finance degree from Bridgewater State University and has worked on print content for business owners, national brands, and major publications. RFC 7763 introduced MIME type text/markdown with the original variant. If you want to implement Mediawiki’s markup you probably need to look round for better ones . You can place this second part of the link anywhere in your Markdown document. (more…) […]
