Inventory Control Determining ownership- Goods on Consignment/ Goods in Transit Lower of Cost and Market The effects on the Income Statement and Balance Sheet Inventory Cost flow methods: Specific Identification, FIFO, LIFO, Average Cost Video Resources: Inventories
Continue reading »Journal Entries under the periodic system vs. perpetual system Review the basics of both types of entries Video Resources: Merchandising Operations
Continue reading »Please complete work on Problem Set 1 Due Wednesday – submit to Drop Box Prepare for Unit Test 1 – Chapters 1-3
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Questions to focus on: How do we calculate the Cost of Goods Sold in a business that utilizes the periodic system? What makes up the […]
Continue reading »The Classified Balance Sheet: ASPE vs. IFRS presentation (page 162) Determining Liquidity (Page 165-166): Working Capital Current Ratio Acid Test Ratio Additional Practice and Review […]
Continue reading »Chapters 1-3
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Please begin work on your Problem Set due Wednesday You may work in pairs and submit one assignment Problem Sets can be found on the […]
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Question to focus on: Why are we in business? Discussion: The fundamental accounting equation How is it that all the financial statements spring forth […]
Continue reading »Chapters 1-3 Multiple Choice / T-F
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1.) Please check D2L for submitting assignments 2.) Headline News What is the headline about? What GAAP’s and IFRS are involved? Who is this […]
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