A change in depreciation method is treated as a change in estimate that is achieved by a change in accounting principle, and is accounted for prospectively in the current and future periods.
The rules and regulations that businesses and other organizations must abide by when reporting financial data are known as accounting principles. These regulations standardize the terminology and procedures that accountants must employ, making it simpler to analyze financial data.
A unified set of accounting guidelines, methods, and standards known as generally accepted accounting principles (GAAP) were released by the Financial Accounting Standards Board (FASB).
The consistency that accounting principles establish enables more accurate and effective viewing of financial statements and reporting for businesses.
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Answer: The meaning of depletion to allocate the cost of extracting natural resources like oil and minerals from the earth.
Explanation:
- The term depletion is a concept generally we use in tax and accounting.
- The meaning of depletion is to move the cost of extracting natural resources like oil and minerals from the earth to the income sheets.
- It is a non-cash expense that lowers the cost value of an asset gradually scheduling charges to the income.
- To evaluate the depletion per unit we divide the total cost less salvage value by the total number of estimated units.
Answer:
Discounted cash flow(DCF).
Explanation:
This is explained to be an investment analysis model which is seen to calculate the value of investment on the basis of its future value. Thus evaluation model is seen to be discounted back to a present value in which time value of money is been used as a factor and is been put into consideration. It is also explained that investment’s worth is equal to the present value of all projected future cash flows. Cases directs us to see that boards are seen to subtract the amount spent on the investment from the present value of future cash flows to calculate the net present value of the investment. Therefore, they can easily sum how much the investment will make in today’s dollars and compare it with the cost of the investment.
Answer:
the total manufacturing cost is $39,150
Explanation:
The computation of the total manufacturing cost assigned as follows:
Overhead costs is
= 115% of $10,100
= $11,615
Now the total manufacturing cost is
= Direct materials cost + Direct labor costs + Overhead costs
= $17,435 + $10,100 + $11,615
= $39,150
Hence, the total manufacturing cost is $39,150
Answer:
"No" would be the correct choice.
Explanation:
- The documentation could not be issued to him whenever their Amy is indeed not Mr. Mitchel's legal offspring attributable to some other individual's custody. They cannot compensate for the demand as well as text.
- Whether there is some doubt about either the approved note's authenticity, seek to contact the individual by contacting himself, either correlate signs on organizational documents.
