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List where each of the following items may appear. Choose from income statement,balance sheet.
The cost of machinery and equipment is charged to a fixed asset account. The machinery and equipment will be expensed over the period of use.
Comment on when United Airlines should record the purchase of these planes.
What is a ratio? How do ratios help to alleviate the problem of size differences among firms?
Differentiate between absolute and percentage changes. Which is generally a better measure of change? Why?
What is trend analysis? Can it be used for ratios? For absolute figures?
This is true of Avon Products, a manufacturer of cosmetics, and it might be true of food canners also. Explain the absence of work in process.
Could we determine the percentage of total assets that a particular firm had in relation to the total industry? Explain.
What is the NAICS number? How can it aid in the search of a company, industry, or product?
What source includes comprehensive statistics on many industries?
Indicate some sources that contain an appraisal of the outlook for particular industries.
Discuss how these ratios will help you make appropriate financial decisions as they relate to your role as a financial manager.
Computer inventory turnover and days' sales in inventory for the three months ended March 31, 2010.
A mode-choice model for a city includes the following modes: autos (A), light rail (L), buses (B), and rapid rail (R), with utility functions (U).
During the year insurance expense is computed for interim periods and insurance expense is debited and prepaid insurance is credited.
Comment on the potential problems involved in estimating the dollar amount of any potential liability.
Comment on materiality implications of the Sarbanes-Oxley Act as it relates to control weaknesses.
Accountants (auditors) are often included as defendants in lawsuits that relate to the financial statements. Speculate as to why this is the case.
Will forward-looking statements as provided by the Private Securities Litigation Reform Act aid users of financial reports in decision making?
The Board also censured two former partners in the firm, finding that they participated in the misconduct but noting that they promptly alerted the PCAOB .
Comment on why it would be in the public interest to know the circumstances surrounding the resignation of this board member.
Name and describe the three major categories of balance sheet accounts.
Differentiate between marketable securities and long-term investments. What is the purpose of owning each?
What is depreciation? Which tangible assets are depreciated, and which are not? Why?
A rental agency collects rent in advance. Why is the rent collected treated as a liability?