Accounting and Financial Reporting

at Maastricht University

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++++++ Ask your AFR question here and an experienced Success Formula tutor will answer it as soon as possible ++++++ PLEASE ask your questions as a SEPARATE POST and NOT as a COMMENT here! Any problems or questions while studying/preparing for AFR? Don't worry, we got you covered! Just post any of your questions in the AFR course on Studydrive and our professional tutors will help you!!! We wish you lots of success! Your Success Formula Team
++++++ Ask your AFR question here and an experienced Success Formula tutor will answer it as soon as possible ++++++ PLEASE ask your questions as a SEPARATE POST and NOT as a COMMENT here! Any problems or questions while studying/preparing for AFR? Don't worry, we got you covered! Just post any of your questions in the AFR course on Studydrive and our professional tutors will help you!!! We wish you lots of success! Your Success Formula Team
Hey There, are There Some peeps Who has to do the course assignment for accounting ?? I need some helppp
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Moreee
I also already finished part 3 so let me know if you Need Nah help There !
Could someone explain again how to file a complaint about the exam. I would like to complain about a few things but i cant figure out how....Thanks guys!
Go to course details, examination materials and then exam comments
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In version R Question 35 - isn't D the correct answer?
I'm pretty sure that A is actually correct . The correct answer is 600, which is A in version R (unless I made a mistake in my notes)
fuck version S
Same goes for K
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'Corporation: provides the least amount of protection' -> Doesn't a corporation provide the highest amount of protection? Because the owners are not liable?
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Ah i got what you mean. So it’s the least protected for investors but highest protection for company owners
page 570 if u want to understand everything
Can someone explain why it is B here? when I compute everything I've got 3,160
You depreciate 6,500 each year from 2013 to 2016. This leaves you with a depreciable amount of 6,500 and 6,000 in residual value, so 12,500 in total. You subtract the new residual value, leaving you with 10,000 to depreciate over 3 more years. 10,000/3 = 3,333
oh right I didn't see that we were using straight-line here! thank you!
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Maybe someone know why C is the correct in 67? :)
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Why is it A?
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Based on the structure of the income statement, you should know that: Sales - COGS - Selling administrative expenses - Depreciation = Earnings before interest and taxes. 100 000 - COGS - 10,000 - 10,000 = 20,000 Solve for COGS - COGS = 60,000 Does that clarify it? :)
Yes thank you! :)
Why is it B?
I have also posted the calculation in the answer to another comment, see below!
Someone can explain?
Dear Anonymous Trump, based on the Accounting Equation you know, that Assets = Liabilities + Equity Total Assets = 51,000 Liabilities = 31,000 that means that Equity needs to be 20,000. Equity consists of Share Capital (this is what they are looking for in the question) and Retained Earnings. The Retained Earnings you can calculate: Beg. Balance Retained Earnings + Net Income - Dividends = End. Balance Retained Earnings Beg. Balance = 0 since it is the first year the business is running Net Income = 14,000 Dividend = 0 (given in the description) So End. Balance Retained Earnings = 14,000 so: Share Capital + Retained Earnings = Total Equity Share Capital + 14,000 = 20,000 Share Capital = 6,000 Hope that helps! Your Success Formula Team - Lena
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How to compute 10?
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Thank you :)
thank you!
Hello, why is it 4000 since we already paid 2 months which will debit the prepaid insurance account by 2000?
Hi Anonymous Bang! The entries are: November 1st: Dr. Prepaid Insurance (A+) 6,000 Cr. Cash (A-) 6000 December 31st - 6,000 Euros for 6 months, so 1,000 Euros per 1 month, 2 months have passed. Dr. Insurance Expense (SE-) 2,000 Cr. Prepaid Insurance (A-) 2,000
 The question asks for the ending balance in Prepaid Insurance, so it is 6,000 - 2,000 = 4,000. Hope that helps. Your Success Formula Team - Lena
Why is depreciation a deferral adjustment. Isn't it a separate adjustment category?
No, it belongs to the deferral adjustments
It is a so-called long-term deferral - you first have the cashflow when you buy the asset, and then over time you recognise the expense using depreciation.
how do you do this?
Hi Alexandre, Company ABC purchased the machine on 01/01/2016 for 900,000 -useful life 6 years, no salvage value --> that gives you an annual depreciation expense of (900,000/6) = 150,000. On 01/01/2019 - the net book value of your asset is then 900,000 - 3 * annual depreciation expense (since three years have passed). So, 900,000 - 3 *150,000 = 450,000 Based on this new book value, you can then compute the new depreciation expense. With the revision in the useful life, the asset can be used for 5 more years. 450,000 / 5 = 90,000 Hope that helps. Your Success Formula Team - Lena
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can someone explain to me why units of production is the way to depreciate an intangible asset? really dont get it
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Sorry guys I made a mistake it is only straight line method (check https://www.accountingtools.com/articles/2017/5/17/intangible-assets-accounting-amortization) :)
Thanks!
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what version is this?
A
how do you do this??
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Because your accounts receivable are 975000 and the net realizable value is 900000. Meaning that the outstanding 75000 are the allowance
what version is this?
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Hey Hey, does someone have a document for purposes of financial statements?
How? Borrowed money doesn't affect Net Income, does it?
EPS = earning per share
Thanks!
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Did you really just post this? Hahahaha
Someone had to :)
why is this correct?
How many units are left in the end? Beg. Inv. + Purchases - Sales Rev. = End. Inv. 50 + 90 -100 = 40 units left Under FIFO, the cost of ending inventory is always based on the latest costs incurred. FIFO goes from bottom to top, so basically the last 40 units fall into the 90 units from the purchases. Meaning that the last 40 units are valued at 9€ per unit. * 40 x 9€ = 360€ * To clarify if we had 100 units left, 90 of them would be valued at 9€ per unit and 10 units at 8€ per unit.
Can someone explain me these two ? I can't get why
250000*0.03 = 7500 Warranty Provision is a liability account which has to be increased. Increasing a liability is done on the credit site
The ending balance in the Provision account has to be equal to 3% of the total sales. 375000*0.03 = 11250
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Amen, brotha
shouldn't the average be beg + ending divided by all assets?
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Thanks!
:)
how do you do this
4125+X-969=3399. gives you X=243
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It's perfect!!!!!
Shouldn't cash sales be Sales on account instead? At least thats the formula given in the trial exam, same for the formula cash collected from customers.
it can either be cash sales or sales on account depending the case :)
But Cash Sales does not increase/decrease the "sales on account - account" does it? Thats why I am not shure
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U have the answer sheet too?
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Which version is this?
It is version A
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Is there also the answer sheet available on study drive? Thanks in advance!
Yes, just above the document
How to get to B again ?
The answer is C
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Do you have to know stuff about corporate governance
I'd look over the lecture notes for the corporate governance part. I think we might have one or two questions maximum at the exam ;)
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For chapter 5 no need to look over fraud and internal control? thanks for the great summary
No worries! The course manual says chapter 5 is only relevant from P. 280 until the end :)
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Thanks for this!! Your handwriting is super pretty btw :)
No problem and thank youu 💖
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Is this relevant for the exam?
I think it is since the course manual says everything talked about in the lectures and tutorials is relevant... I'd personally consider the agency theory & auditing the two most important topics, the rest is pretty straightforward and shouldn't be to difficult in terms of the exam questions.
Hi! First of all thank you very much this is so helpful! I have a question, I've seen this formula and the same formula where you also subtract write-offs in the book. But I was wondering why sometimes you have to subtract write-offs and sometimes you don't? Thanks :)
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Yes, I think that could be. And you mainly need change in receivables to calculate receipts from customers and the formula for that can be simply put as (Revenue- Change in receivables) and change in receivables already includes deduction of write-offs. I'm not sure if that answers the question though hahaha
Yes. Thank you :)
What is the actual difference between Warranty expense and warranty provision...?
Warranty expense is the expense that has incurred because of the warranty. The provision is just a liability to pay the warranty and will later be transferred into a cash payment.
Thanks!
Where do the 9,200 come from?
92000×0.03 + 36000×0.05 + 23000×0.08 + 14000×0.2
It is the aging-of-accounts-receivable method
How do I calculate this question?
you calculate the age of receivables: 92000 x 0.03= 2760 36000x 0.05= 1800 23000x 0.08= 1840 14000x 0.2 = 2800 then you add all the sums up and it gives you 9200. After that you subtract 3200 (cr.) which is given and it gives you 6000. Hope that helps xx
Does anybody have a specific document on bonds?
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Nice!
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are all of these formulas exam relevant?
What does this refer to?
why is this not net realisable value = accounts receivable - allowance for uncollectible accounts?
The formula posted is the general equation. What you mean I think is concerning chaper 5 "receivables"
I cannot understand how we come to this.. could you please help me?a
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oh okay, thank you so much:)
youre welcome :)
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