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  • Increasing Current Account Deficit
    899 words
    Explain what is meant by a Current Account Deficit and why is it considered 'bad' to have an increasing CAD The Current Account Deficit generally means that our nation is spending more than it earns. This means that we have to borrow from other countries in order to pay for the things we purchase (imports). When we borrow from them we have to pay interest rates and these are additions to the original debt, therefor they increase the total debt owed. It is considered a bad thing to have an increa...
  • Account For The Provision Of Bad Debt
    1,561 words
    Contents Page Page 3 ~ Section A - Trading, Profit and loss account for Mr. Stanley Page 4 ~ Section B - Balance Sheet for Mr. Stanley Page 5 ~ Section CPage 6 ~ Section Page 7 ~ Section Page 8 ~ Section Page 9 ~ Section Page 10 ~ Section Page 11 ~ Bibliography Trading, Profit & Loss account for Mr. Stanley relating to trading during January 1st 2002 to December 31st 2002 lb lb lb Sales 125000 Less Cost of Sales Opening Stock 10430 Add Purchases 67634 78064 Less returns outward 48 78016 Add Carr...
  • More Realistic Response To The Current Account
    933 words
    "Effects of a widening trade deficit and the necessary government policy" "Trade Gap Widens, Fuels Calls for Tougher Stance on China" WSJ, 4/13/05, A 2. The U.S. current account (trade deficit) hit a monthly high rising 4.3% in February to $61.04 billion. The increased deficit reflects the rising costs of imported oil and increased consumer demand for foreign goods. Imports rose by $2.58 billion from January to February as Exports remained constant. The widening trade deficit over the past two y...
  • Foreign Debt
    773 words
    Throughout its history Australia has had to rely on foreign savings to finance its development as did America until the World War I. This savings inflow showed up as a current account deficit that averaged 2.5 per cent of GDP. The 1980's monetary explosion under Keating saw this average leap to about 4.5 per cent. The soothing argument was that this sudden rise only meant that more foreign savings are being invested in Australia. That most of the foreign debt was incurred by the private sector w...
  • Actual Path Of Current Account Deficits
    2,860 words
    I Introduction The deterioration in Australia's current account position since the mid-1980's, and the associated increase in net foreign liabilities, has been accompanied by a vigorous debate as to the major causes, consequences and potential remedies required (if any). In an influential contribution, Pitchford (1989 a, 1989 b, 1989 c) used the intertemporal approach to argue that Australia's recent current account position should be of little concern, as under the assumption of a virtual absen...
  • Expense In The Current Year's Accounts
    1,087 words
    Before the final accounts of a business are prepared it is often necessary to make ADJUSTMENTS to the trial balance. This may be because some transactions have not yet been taken into account. This might be that a rent payment near the end of the trading year might relate partly to the current year and partly to the next year. If this was to happen, we should calculate the fraction that relates to the current year. The main adjustments that are made to the trail balance are: . Accrued expenses o...
  • Recoverable Amount Of Non Current Assets
    2,281 words
    Part A: Measurement of Tangible and Intangible assets under Accounting Standards Assets are classified according to their "tangibility", that are tangible assets or intangible assets. Under tangible assets, are classified as either current or non-current assets. AASB 1010 "Recoverable Amount of Non- Current Assets", which applied to non-current assets measured on the cost basis that is requires the carrying mount of non-current assets to be written down to their recoverable amounts when their ca...
  • Firm During An Accounting Period
    721 words
    Accounting: process Accounting Chapter 17 Accounting: process of systematically collecting, analyzing, and reporting financial information. Private accountant: employed by a organization Private Accountants provide the following services: General accounting: recording business transactions and preparing financial statements Budgeting: Develop budgets for sales and operating expenses. Cost Accounting: Determining the cost of producing specific products or services. Tax Accounting: Planning tax st...
  • Costco's Accounts Receivable Account
    873 words
    While analyzing the financial statements of Costco for the years 1995-1999 we concluded that the years were successful in terms of revenue and earning. Due to their success the company is able to provide low prices to individuals and businesses in almost 300 locations worldwide. Since there is such a steady growth in most area Costco has been able to open 100 new stores within the last 5 years and only closed 28 in the process. Although they have had a steady increase in assets and liabilities i...

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