1. Features of managerial accounting
a. Users: insiders
b. Information type: economic, physical, financial
c. Level of aggregation: local
d. Regulation: non, limited by value-added principle
e. Information characteristics: estimates
f. Time Hori
EarthWear Hands-on Mini-case
Chapter 10 - Accounts Receivable Tests of Details
In this mini-case you will complete the test of details on accounts
receivable for the 2012 audit of EarthWear Clothiers, Inc. The principal
test of detail involves sending "co
1. The revenue recognition principle dictates that revenue should be recognized in the
a. when cash is received.
b. when the performance obligation is satisfied.
c. at the end of the month.
d. in the period that income taxes are paid.
Chapter 1: GAAP Generally accepted accounting principles
Not advantage of corporate is unlimited personal liability
Sources of incr. to stock equity are add. Investments by owners
If retained earning account increases from beg to end of year
then net inco
Sales on account
Total budgeted sales
Schedule of Cash Receipts
Current cash sales
Plus collections from accounts receivable
Total budgeted collections
Problem 1-19A (Solution)
The following horizontal financial statements model is not required in the problem. It is provided to show
the process of computation.
+ Invent. + Furn.*
Overhead Cost Allocation under ABC:
Allocation for Tennis Racquet
Allocation for Badminton Racquet
Dr. Rose Green
23 Dec 2013
1. Tax official, a tax collector is a person who collects unpaid taxes from other people
Finance, deal about how money works, and about financial instruments, stocks,