Retrieved May 28, 2014, from http://highered.mcgraw-hill.com/sites/0072396881/student_view0/chapter6/chapter_summary.html Principles of Accounting. (n.d.). Principles of Accounting. Retrieved May 28, 2014, from http://www.principlesofaccounting.com/chapter5/chapter5.html Single-Step Income Statement | AccountingCoach. (n.d.).
2). Textbook Equity inc. DOI: www.textbookequity.com Siegel Ph.D. CPA, Joel G.; Shim Ph.D., Jae K. (2010-02-01). Dictionary of Accounting Terms (Barron's Dictionary of Accounting Terms) (p. 129). Barron's Educational Series. Kindle Edition.
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By applying the matching concepts, the bookkeeping is requiring to record the revenue and expense in the same period. The matching principle is to ensure the profits are accurately reported for each accounting period. For this reason, the accrual accounting method requires end-of-period adjustments to be made to the business revenues and expenses while the cash method does not. These end-of-period adjustments create accounting transactions known as accruals (Baskerville,
AccountingCoach.com. Retrieved May 2, 2014, from http://www.accountingcoach.com/accounting-principles/explanation Hermanson, R., Edwards, J., & Maher, M. (2010).Accounting principles: A business perspective. (Vol. 2). Textbook Equity inc. DOI: www.textbookequity.com Siegel Ph.D. CPA, Joel G.; Shim Ph.D., Jae K. (2010-02-01).
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Transaction motive It emphasizes the need to maintaining inventories to facilitate smooth production and sales operation. Precautionary motive It necessitates the holding of inventories to guard against risk of unpredictable changes in demand and supply force and other factors. Speculative inventories It influences the decision to increase or reduce inventory level to take advantage of price fluctuations. The firm should always avoid a situation of over investment or under investment in inventories. The major dangers of over investment in inventories are i.
Recommendations 6 References 7 1. Introduction This report briefly introduces the current financial position of Revive Marketing, and discusses the reasons behind these financial data. The main issue discussed in this report is why an improvement of profit has been noticed during the accounting period while cash position has not been increased. This report contains information that is calculated under accrual accounting principle. Because all transactions are recorded at the time when they are made rather than when actual money has been made or received, there is a likelihood that transactions are shown on one accounting period but actual change has not be made it, and it may deliver biased information about the company’s true financial position.