Primary Task Response: Within the Discussion Board area, write up to 300-400 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas. For this assignment, you are required to post […]

1. The Governmental Accounting Standards Board (GASB) is a private, nonprofit organization formed in 1984 to develop and improve accounting and financial standards for state and local governments.  In June, 1999, GASB approved GASB-34, entitled Basic Financial Statements-and Managements Discussion and Analysis- for State and Local Governments.  This statement establishes new requirements for the annual […]

1. (True or False)   The consignor retains title to the transferred merchandise even though the goods are possessed by the sales agent.   2.   As generally used in accounting, what is depreciation?   A. It is a process of asset valuation for balance sheet purposes. B. It is a costing process for intangible […]

This week we are studying the Statement of Cash Flows. Operating cash flow represents the cash that flows in and out of the company on a day-to-day basis. For example, cash inflows come from collected revenues and cash outflows occur when the firm pays its normal day-to-day expenses.  We, of course, would prefer to see […]