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Differentiate between the direct method and the indirect

Intermediate Accounting | 15th Edition | ISBN: 9781118147290 | Authors: Donald E. Kieso ISBN: 9781118147290 164

Solution for problem 9 Chapter 23

Intermediate Accounting | 15th Edition

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Intermediate Accounting | 15th Edition | ISBN: 9781118147290 | Authors: Donald E. Kieso

Intermediate Accounting | 15th Edition

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Problem 9

Differentiate between the direct method and the indirect method by discussing each method.

Step-by-Step Solution:
Step 1 of 3

Chapter 8 Notes 10/12/16-10/19/16 Budgetary Planning 1. Functions of Management a. Planning – the process of setting goals and objectives. i. Strategic – long term – general not very quantitative ii. Tactical – short-term – more specific actions; more quantitative b. Directing/leading – implementation of the plan. c. Controlling – backward looking part to see if goals were met. 2. Budget – A formal written statement of management’s plans for a specified future time period, expressed in financial terms. Used as a planning and communication tool for management. 3. Benefits - Requires looking to the future

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Chapter 23, Problem 9 is Solved
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Textbook: Intermediate Accounting
Edition: 15
Author: Donald E. Kieso
ISBN: 9781118147290

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Differentiate between the direct method and the indirect