ACCT 351 Study Guide - Final Guide: Equity Method, Zac Efron, Income Statement

• School: McGill University
• Department: Accounting
• Course: ACCT 351
• Professor: Desmond Tsang

Document Summary

Comprehensive case (12%): don"t waste your time on it. Chapter 8, 9 & 10: ppe and intangibles (38%) % of completion method 5 journal entries. 1, 2, 3, 4, 5 journal entries. Estimate afda (income statement vs. balance sheet vs. mixed approach) Disposition: secured borrowing, factoring: sales without recourse, factoring: sales with recourse. Class hint: received a note uncollectible due to retake recourse. Small issues: purchase discount, vendor debate, basket purchase. Cost formulas specific identification, weighted-average, moving average, fifo, lifo. Estimate inventory: gross profit method, retail inventory method. Accounting for inventory errors: william larry. Class hint: 12, william / larry goldsman exercise, very committed to purchase this nadal and federer shoess. Significant influence: equity method big in japan. Class hint: big in japan, coats in the room bar, 4th wall, oci, recycle and no recycle. Acquisition costs of different types of purchased assets. Non-monetary exchange: with commercial substance, without commercial substance.