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Compare the liability section of the balance sheet to the equity section, and discuss whether the relationship of debt to equity is appropriate for the company.
Describe Internal Controls within an Organization. Define the Purpose and Use of a Petty Cash Fund, and Prepare Petty Cash Journal Entries.
Prepare entries that are complete for each month, including transferring posted entries to T accounts.
What fraud risks may be indicated by the year-to-year comparisons of Tesla's financial statements (refer to Exhibits 1 and 2 in the case study)?
Is it a manufacturing, merchandising, or service organization? How could the costs differ if one method is chosen over the other?
Explain a correction to the calculation in the initial post. Compare how your calculated WACC is different than your classmate's calculated WACC.
In the organization that you researched, recommend preventive measures to prevent skimming and cash larceny types of fraud from reoccurring.
Describe the accounting for any non-controlling subsidiary interest and any other business combination-related items in the consolidated statement of cash flows
Adjusted Trial Balance: Prepare the adjusted trial balance on the Trial Balance tab, ensuring that the debit and credit totals match.
Analyze the current IRS rules related to capital gains and losses on the sale of real property.
Explain how a financial statement would differ under IFRS as opposed to GAAP. How is a financial statement under IFRS different from GAAP?
Discuss the primary factors that contribute to fraudulent activity. Consider how the GAAP and IFRS principles apply to the example you selected.
Consider the following statement: The fewer the uncollectible accounts, the better. Can you think of instances where this might not be the case?
Suggest the critical tax issues the client should consider in determining the deductibility of the net operating losses.
Discuss why you think the historical cost approach best values the long-term assets on balance sheet. In addition, provide an example to support your position.
What costs are involved with complying with Sarbanes-Oxley? Do you think that SOX is worthy of its cost to implement? Do you think the benefits outweigh them?
What is the role of the accounting equation in the analysis of business transactions? Include in your post that you attended the live lecture.
When prices are rising, would you choose a FIFO or weighted average cost flow assumption? Would your choice be the same if prices were falling?
Why should the responsibility for maintaining the accounting records be separated from the responsibility for operations?
Why did you choose your selected independent variable? Include the key regression output values that include: R2, p value, intercept, and coefficients.
Determine how you would implement this investigation without the fraudster's knowledge. Provide support for your rationale.
How is the use of the equity method subject to manipulation? How might a financial statement reader detect such behavior?
Identify if the company has operating leases, financing leases, or both. Explain how you can tell which type of leases the company utilizes.
Is it necessary for a business to use the same method of computing depreciation for all classes of its depreciable assets? Why or why not?
Discuss the validity of Shenzhen Limited's defense. Are there any other defenses that Shenzhen Limited might assert to avoid liability? Discuss fully.