ACC 201 Accounting Methods

May 1st, 2015
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ACC 201 Accounting MethodsACC201: Principles of Financial AccountingAccounting 2Companies strive for their net income to increase rapidly year to year; it is a measure of success for a business. This is no different for Wilson Blowhard founder of his own communications business whom discovered through his companys financial records that he was incurring a significant line expense that must be reported yearly according to generally accepted accounting principles (GAAP). The problem was Mr. Blowhard did not need all the line he was paying for because he was paying to make sure the line was available for future use. He came up with a solution, by capitalizing all the line cost charges and then depreciating them over ten years using one of three depreciation methods the amount of net income recorded on his companys income statement could be increase

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