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Ivenika [448]
3 years ago
14

Changes in accounting estimates are: Multiple Choice Extraordinary items. Accounted for with a cumulative "catch-up" adjustment.

Considered accounting errors. Reported as prior period adjustments. Accounted for in current and future periods.
Business
1 answer:
Tom [10]3 years ago
4 0

Answer:

The answer is D. Accounted for in current and future periods.

Explanation:

A change in accounting estimate is an adjustment of the carrying value of an asset or liability arising from reassessing the expected future economic benefits and obligations associated with that asset or liability.

Changes in accounting estimates must be shown in the accounting period in which the estimates are revised and periods after i.e accounted for prospectively. Example is a change in useful life and salvage value of a fixed asset

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Interpersonal communication

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4 years ago
Which one of the following bond values will change when interest rates change?The expected cash flowsThe present valueThe coupon
ZanzabumX [31]

Answer:

The present value of the bond.

Explanation:

The present value of a bond will change when interest rate changes. The present value is the price at which you will buy the bond. Interest rate is also known as the yield to maturity (YTM). This interest rate has an inverse relationship with the price; meaning, if YTM increases, the price of the bond will decrease and vice versa.

Expected cashflows are the recurring coupon payments which are usually fixed amount in the case of a coupon paying bond. For this reason, they do not change with changes in interest rate.

The maturity value also known as the Face value or Par value is fixed and does not change with changes in interest rate.

5 0
4 years ago
Why should companies be careful to report cash and cash equivalents correctly?
mart [117]
<span>Companies should be careful to report cash and cash equivalents correctly because this is there responsibility. Companies must be prepared for random audits by the IRS and must show these records and calculations when the need arises. This will save a lot of money from penalties and other fees that may be owed to the IRS and can update the IRS of any incorrect calculations they may have.</span>
5 0
4 years ago
Estimate the nonvalue-added cost for each situation. a. A manual insertion process takes 30 minutes and 8 pounds of material to
Viktor [21]

Answer:

Estimation of the non-value-added Cost:

a) Cost of automating the insertion process:

Machine time cost = 15/60 x $8 = $2

Material cost = 7.5 x $10 = $75

Total automation cost = $77

b) Cost of redesigning the gear:

Cost per setup hour = $50 x25% = $12.50

c) Movement cost:

Cost for movement = $20 x 6 = $120

d) Inspection cost:

Cost of inspection = 16,000 x $12 = $192,000

Explanation:

Non-Value Added activities, according to goleansixsigma.com, "are the process steps that do not meet one or more of the following criteria: 1) The step transforms the item toward completion (something changes).  2) The step is done right the first time (not a rework step).  3) The customer cares (or would pay) for the step to be done."

A non-value-added cost is a production expense that does not increase the amount customers are willing to pay for the finished product.  Examples are inspection cost, movement cost, and automation cost.

6 0
3 years ago
In regard to project priorities, if a project parameter such as the completion date or the cost of a project is fixed and must b
alexgriva [62]

In regard to project priorities, if a project parameter such as the completion date or the cost of a project is fixed and must be met, it is considered <u>constrained.</u>

Project prioritization is the process of determining which potential and existing projects are the most urgent and important. This process involves evaluating the standards most relevant to your business and applying those standards to all projects.

The project scope is the part of the project plan that establishes and documents a list of objectives, deliverables, tasks, costs, and deadlines for a particular project. A document about the scope of a project is called a scope statement or terms of reference.

The project priority system selects which projects should be pursued in support of the organizational strategy. Additionally, a model is needed to assess the long-term effectiveness of the project prioritization system. The scoring model focuses on performance in the following key areas:

Learn more about the project here:  brainly.com/question/6500846

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6 0
2 years ago
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