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Describe the feature of the firm you believe affects inherent risk and explain how and why. By how, I mean whether it increases or decreases inherent risk.
Why are top management support and cross-functional involvement crucial when attempting to implement an ABC system?
What was the amount of cost of goods sold for year? What income statement format does company use? Compute the company's gross profit percentage for year end.
What are the basic objectives in the use of standard costs? What are the two variances between the actual cost and the standard cost for direct materials?
Explain the term standard cost. What are some different types of variances? What does it mean if a variance is favorable?
Discuss the implications of the ratios provided for the lending decision you are to make. That is, does the information paint a favorable picture?
What are the main objectives of comparative analysis and why are they important to external users of the financial statements, such as investors?
What do these ratios tell us about the specific company that you selected? How do your results correlate with the information noted within the company's 10-k?
ACCT601- If you were an accountant for a potential investor in this company, explain which of these ratios would be of the most interest to you.
Discuss the efficacy of the required accounting and/or disclosure in informing investors of material information.
This is the section in which you may use tools such as a SWOT analysis or other analytical tools. Discuss only the information most relevant to the case.
Compare and contrast job order and process costing. Determine which costing method would make it easier to detect budget variances or discrepancies.
What are three main characteristics of liabilities, and why is it important to classify liabilities into short-term and long-term?
Preparation of Income Statement for The Serious Reader Company. Prepare segmented variable costing (behavioral) income statement for the company in good format.
What department would be responsible for the variance? What would you recommend to correct the variance? Explain your reasoning.
Summarize the company's accounting for their foreign currency translation adjustments. Identify and describe the impact any foreign currency adjustments.
Complete the following tasks for the company you have selected. Identify the major requirements of IFRS 1 for companies adopting IFRS for the first time.
What balance sheet format does your company use? What is the company's largest current asset and largest current liability at year end?
Summarize the company's goodwill accounting and impairment of goodwill if any. Include any methodologies described by the company.
Calculate the annual holding period return (in both $ and % terms) for an Australian resident shareholder of BHP.
Determine the fundamental reasons why the Financial Accounting Standards Board (FASB) requires a company to use the equity method of accounting for investments.
Given the readings and assignments in the course, identify, and briefly discuss two important applications of financial accounting.
Find a recent article that deals with disclosure and reporting requirements in the US. Discuss one topic that you found in the article.
Disucss the real-world examples of asset-backed securities with appropriate maturities and how they compare to a Treasury security of the same maturity.
Discuss the state of the economy's effects on assets' management. The impact of estate and other tax considerations to provide optimal financial outcomes.