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Respond to the controller's explanation from financial reporting and ethical perspectives.
What are the rules concerning contingencies if they are discovered during the first period of the year?
What are the main functions of managerial accounting? Why do management accountants should understand their company strategy?
Question: Explain how the allocation process can make a fixed cost appear variable, leading to a poor decision.
What are the similarities between contribution margin and gross profit.
Can you think of any direct examples of where contribution margin can be used in a business?
Why do managers need to understand product and period costs? In your explanation, please also briefly describe product and period costs.
What is the product cost of producing one tire and the entire order?
Go to the following website (see below) and read the article about budgeting in a small business.
Search on the internet for pro-forma financial statements of any large public company from last year (e.g. Coca-cola, Home Depot, etc).
The process of using activity-based costing information to manage a business's activities, and thus its costs, is called activity-based management.
In an activity-based costing system, activities are classified into five categories. List and define the 5 categories and give 1example of each type of activity
Another major factor of flexible budgeting is the dissemination of this within the organization; strictly within controlling and finance or further distribution
Briefly describe what outsourcing is and then decide whether you agree or disagree with companies outsourcing jobs.
Outsourcing has become a reality in today's world business environment due to globalization.
What would happen if our accounting process wouldn't view labor as a liability?
Do a basic balanced scorecard evaluation where you go through the four areas (learning and growth,internal business process, customer and financial perspective)
Create a better tool for measuring past performance and driving the future achievement of strategic goals. The different methods of performance measures include
If you were to start a business, would you want it to be centralized or decentralized? List the advantages and disadvantages of both.
Sara wants to see how much of a return she has now made on the company last year. Using the following information, calculate the return on investment.
Perform a horizontal and vertical analysis of the company in an excel file, showing the changing amounts and percentages.
Explain what horizontal analysis and trend analysis are, how the numbers are used, and some of the advantages and disadvantages.
Calculate each of the following for 2014: a. Debt ratio b. Debt-to-equity ratio c. Times interest earned ratio d. Gross margin percentage
Consider only the Packaging Department data. Prepare cost of production reports using both weighted-average and FIFO process costing.
Identify and describe the type of cost accumulation system that was used.