Using Periodic inventory system: debit creditMerchandise inventory 7/1/05 32,000Sales 380,000Sales returns 12,000purchases 240,000 purchase discounts 6,000purchase returns 10,000freight-in

Formely Tax Accounting is stated as upper level accounting, how can we demonstrate it?

Is it Possible to negotiate a LC with Duplicate copies? LC its mentioned its posible and consigne wants the original documents? What are its consequences

What is Form No. 8E ? Explain in what situation Form No. 8E can be issued.

A companys' prinicpal activity is to buy land for development. It is like investing in land and then developing it. Do you treat this land as available for Sale or fair value through statement of income? Give the answer to comply with the International Financial Reporting Standard (IFRS)

What are the benefits and costs of segmental reporting? Evaluate the quality of segmental reporting by multinational enterprises generally and by US.

What are the major areas of difference in financial accounting and reporting practices observed around the world ? In what areas are there substantial similarities ?

Which failure and unexpected problem do you remember in your resposibilties?What about the reason for this ?How did you react?Which conclusion did you draw from that?What would you do different today in a similar situation?

Rates and ratios are often interpreted as same. Differentiate between the two giving at least two examples.

Why is the development of credit policies critical to the organization?