Ask Question, Ask an Expert

+61-413 786 465

[email protected]

Ask Accounting Basics Expert

Accounting


Home >> Accounting Basics

FASB rules do not allow for the keeping of two different sets of accounting records. Ethics maintain that there should be only one set of accounting records and that it be comprehensive. It is also illegal to maintain a separate set of accounting records that are different from those that are expressly for the purpose of presenting them to creditors, the SEC and your investors. Yet, current practice is to have one set of books for financial statement presentation and one set for the preparation of income taxes. Is this "kosher" and why do you agree or disagree with the practice?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9438914

Have any Question?


Related Questions in Accounting Basics

Question what discoveries have you made in your research

Question: What discoveries have you made in your research and how does this information inform your ability to evaluate effective coaching and its impact on organizations? Consider these guiding questions: 1. What core c ...

Question requirement 1 read the article in below attachment

Question: Requirement: 1. Read the article in below attachment, and answer the questions in a paper format. Read below requirements before your writing! 2. Not to list the answers, and you should write as a paper format. ...

Question as a financial consultant you have contracted with

Question: As a financial consultant, you have contracted with Wheel Industries to evaluate their procedures involving the evaluation of long term investment opportunities. You have agreed to provide a detailed report ill ...

Question the following information is taken from the

Question: The following information is taken from the accrual accounting records of Kroger Sales Company: 1. During January, Kroger paid $9,150 for supplies to be used in sales to customers during the next 2 months (Febr ...

Assignment 1 lasa 2-capital budgeting techniquesas a

Assignment 1: LASA # 2-Capital Budgeting Techniques As a financial consultant, you have contracted with Wheel Industries to evaluate their procedures involving the evaluation of long term investment opportunities. You ha ...

Assignment 2 discussion questionthe finance department of a

Assignment 2: Discussion Question The finance department of a large corporation has evaluated a possible capital project using the NPV method, the Payback Method, and the IRR method. The analysts are puzzled, since the N ...

Question in this case you have been provided financial

Question: In this case, you have been provided financial information about the company in order to create a cash budget. Management is seeking advice or clarification on three main assumptions the company has been operat ...

Question 1what step in the accounting cycle do adjusting

Question: 1. What step in the accounting cycle do Adjusting Entries show up 2. How do these relate to the Accounting Worksheet? 3. Why are they completed at the end of each accounting period? The response must be typed, ...

Question is it important for non-accountants to understand

Question: Is it important for non-accountants to understand how to read financial statements? If you are not part of the accounting/finance function in a business what difference would it make? The response must be typed ...

Question refer to the hat rack cash flow statement 2002 in

Question: Refer to the Hat Rack Cash Flow Statement, 2002 in the text on page 17. Answer the following questions and submit to me via Canvas by the due date. 1. Cash flow from operations? 2. Cash flow from investing? 3. ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved