Different accounting standard-setters
What might explain the fact that different accounting standard-setters have developed accounting standards that are sometimes quite different in nature?
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What is the total product cost for an item? It costs 11.15 to produce this includes packaging. Below are the important numbers for this company.
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In 2012, Amirante Corporation had pretax financial income of $176,700 and taxable income of $127,400. The difference is due to the use of different depreciation methods for tax and accounting purposes.
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