Accepted

translate all the things in the source language into target language. The main purpose in each translation is to communicate, to lead the reader to understand the source text. The advantage of using the domesticating translation is to be understood and accepted more easily, so that, it reaches the purpose of translation. In word and…

priority and other perfected interests stand in line in the order in which they were filed. Application of the facts: First Bank sent a letter dated 14 January 1980 to Dakota Square Restaurants, Inc. putting into writing a loan request. Dakota Square accepted the loan commitment 22 January 1980.On 7 March 1980 First Bank advanced the sum of $25,000.00 to Dakota Square. Dakota Square entered into a contract for sale and security agreement with General Fixture on 28 May 1980.First Bank filed its…

Introduction The following research paper is about the new joint revenue recognition principles that were unveiled by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), which standardizes generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS) on recognition of revenue in the United States. The new joint revenue recognition principle was created to increase the financial transparency and the…

Define financial accounting and managerial accounting. What are the characteristics of financial accounting and managerial accounting? Financial Accounting is define as the art of recording, categorizing, summarizing and reporting a business transaction in a trivial fashion and in regards to money, the summary of this transactions are in the preparation of financial statement, which includes, income statement, balance sheets and cash flow statement, that sum up and interpret the operations…

contracts? The objective theory of contracts is the perception from an external source that examines the contract between parties without being biased. The contract must have all the elements of a contract, and is then determined if an offer was made and accepted. Only the facts are taken into account if it can be concluded that each party will be bound by the terms then the contract can be entered. How does the objective theory of contracts apply to this case? In this particular case, the…

all, accountants use techniques such as mispresenting positions in their financial reports up to a certain degree in order to hide the true financial state of a company, also called “window dressing”. Nevertheless, this technique is accepted under GAAP (Generally Accepted Accounting Principles) and therefore not actually illegal or immoral (Duska, Duska, & Ragatz, 2011, p. 141). Secondly people working for a company belief they are expected to be loyal and therefore taking actions in the…

visibility for longer periods of time, and not sleeping properly, for their bodies are not adjusted to the new timings. All in all, DST has detrimental effects to the human body that every so often, can be irreversible. Daylight savings is generally accepted amongst most of the population, without analyzing the detrimental effects it really has. By simply eliminating the policy, the Earth and its population’s well-being would be…

The fair value and historical cost are fundamental approaches of accounting. They bring up major changes in the financial status of the entities. The main objective of financial reporting is to provide information on assest and liabilities about the particular entity, which helps it to make useful financial decision. The fair value (FV) is a common among accounting and finance professionals. Today the majority of the investors and creditors prefer FV. On the other hand these policy and…

Various accounting bodies establish their own ethics board that is in charge of creation and implementation of ethical standards. In America, these guidelines are established by the ethics committee of the American Institute of Certified Public at domestic level, with contribution of state level establishments. Execution of these ethical guidelines is performed by these bodies and by other legal bodies including SEC. Many accountants and firms have been punished by these bodies for their…

to test candidates for the national CPA examination on IFRS topics in three of the four sections of the exam beginning as early as 2011 (AICPA, 2010). The Board wants candidates to be as proficient in IFRS topics as U.S. GAAP and GAAS (Generally Accepted Auditing…