Answer:
Most changes in accounting principles are only reported in current periods when the principle change takes place.
Explanation:
Accounting principle can be defined as a general guideline to be followed by accountants or financial institutions when they record and report their financial transactions.
A change in an accounting principle involves a change in an accounting method used.
For instance, an accountant switching between First In, First Out (FIFO) to Last In, First Out (LIFO) method of inventory valuation or by using another depreciation method.
Additionally, an accounting principle should only be changed, if it's applicable to the accounting framework being used such as Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
Also, it is important to state in the footnotes of the financial statements a full disclosure to highlight the justification for the preferred change and financial implications of this change.
The following are true about the change in accounting principles;
1. Most changes in accounting principles are retroactively reported.
2. Changes in accounting principles are allowed when new principles are preferable to old ones.
3. Consistency is one of the biggest concerns when a change in accounting principle is undertaken.
Answer:
The correct answer is c. the capacity for a set of resources to perform a task or an activity in an integrative manner.
Explanation:
The central assumption of the resource-based model says that the company's unique capabilities, resources and core competencies influence the choice and use of strategies rather than the external environment of the company. This yields higher than average returns when uses its valuable and unique capabilities, expensive to imitate and impossible to substitute to compete against its rivals in one or more industries. The evidence indicates that the two models provide knowledge that is linked to the choice and successful use of strategies. Consequently, companies want to use their unique core resources, capabilities and competencies as the basis for one or more strategies that allow them to compete in industries they understand.
Divide the amount to distribute by the number cf shares.
$15,000.00 / 150shares = $100/shate
Abswer: option a.
Answer:
$77,760
Explanation:
After adjustment items of expenses will be deducted from the Net income, and items of income will be added to the net income.
Item of expenses = unpaid salary + Prepaid insurance (Expired)
Item of income = Interest earned + revenue
Net income after deduction = 77,600 - 795 - 555 + 755 + 755
Net income after deduction = $77,760
Handicap means a circumstance that makes progress or success difficult or the other definition is act as an impediment to.
