This is a case we worked on during the Annual AICPA Accounting and Tax Conference in Washington
Question:
This is a case we worked on during the Annual AICPA Accounting and Tax Conference in Washington DC a few years ago. It is a fairly complicated case that took my team a while to figure out. I believe it is a great way to practice your debits and credits. It was a 100-minute session with top KPMG European partners acting as workshop leaders.
Required - Make all journal entries indicated for FY 2012 using pages 3 and 4. Observe that positive R/E and Reserve numbers are credits and negative numbers are debits to R/E and Reserves. Your analyses must show the accounts that are Credited and Debited against the DRs and CRs made in the R/E account and in the OCI Reserve accounts.
This is a critical analysis and thinking case that requires you to analyze incomplete information and synthesize a solution drawing upon mostly Intermediate Accounting knowledge and information gained from the IFRS text. The MSWord file email attachment should be one page (the last page completed).
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Principles of Information Systems
ISBN: 978-0324665284
9th edition
Authors: Ralph M. Stair, George W. Reynolds