Ugly Puppy 2

Ugly Puppy 2 - Accounting Choices Reader Chapter 6 Appendix...

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Unformatted text preview: Accounting Choices Reader Chapter 6 Appendix F Ugly Puppy Period 2 Econ/Mgmt 4 May 9, 2011 Next? Exploring some of the subtleties in applying a principles-based approach accrual . How management can influence perceived performance. Learning the details and the consequences of accounting choices. A Few Observations We may have two sets of Financials , but We have only one business ! Thus, we have created a reporting form That is different from the substance of events does this matter? How? The one reported item that cannot be altered by Accounting Choices is CA$H . 2 nd Period Events Purchase 10 T-shirts @ $4 each, pay cash . Borrow $100 @ 10% interest on an interest-only basis with interest due in subsequent periods. Take the puppy to a Vet and a Trainer and pay $60 cash. Consult 40 clients and 30 pay $1 each; 10 promise to pay later. Sell 10 T-shirts at $5 each in cash. Encounter a person who agrees to $100 for a Puppy appearance next period and pays $50 cash now with balance due on delivery of the Puppy performance . 2 nd Period Events Cash Journal...
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This note was uploaded on 03/20/2012 for the course ECON 4 taught by Professor Willoughby during the Spring '08 term at UCSD.

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Ugly Puppy 2 - Accounting Choices Reader Chapter 6 Appendix...

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