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Define three account categories of inventory carrying costs and provide a concrete example or illustration such cost applied in aviation or aerospace fields.
What are some of the specific components of an AIS and how do they work in concert with one another to make business function even more effectively?
If you were the accountant at your current (or former) place of employment, would you prefer to use static or flexible budgeting?
Overall, how do you feel that the material presented in this course can aid in your future professional or academic pursuits?
Which do you think is more prevalent: inside or outside jobs? Describe what you think is the number one target of an inside job versus that of an outside job.
Describe, in one or two paragraphs (using your own words!), the reasons for doing bank reconciliation.
What is the purpose of accounting? Who are the users of accounting information?
What are the two most commonly used methods of estimating the bad debt expense when the allowance method is employed?
Explain LIFO and FIFO inventory methods. Explain why the businesses you identified might use a particular inventory method.
Consider the following statement: The fewer the uncollectible accounts, the better. Can you think of instances where this might not be the case?
Your work here in Phase One is to do a current trend analysis, which will help you test your initial hypothesis as to which size facility is most profitable.
Examine the benefits of IRC Section 338 liquidation election for a target corporation and create a scenario that would demonstrate a favorable Section 338 liqui
How much was the fine in the deferred prosecution agreement? What was the total amount of fines and penalties levied against Bristol Myers?
The CEO has asked that you expand that budget and provide a finalized budget that will take into account the new services offered.
Describe the reasons for doing bank reconciliation. Include an explanation of why the cash balance reported by the bank on a particular day will likely.
What is the difference between recognition and realization as it applies to the recording of a deferred tax asset on a balance sheet?
How would you describe these two engagements to a client? How would you help the client determine which method may be more suitable?
Discuss what the term remediation means and the steps that a forensic accountant would be involved in to complete an examination.
Which party wins and which party loses, in a Federal income tax sense? How could Marilyn have avoided the loss disallowance on her sale of the land?
Identify your current or aspiring industry and explain potential ethical issue. What are the potential ethical issues? What could be the causes of these issues?
Why might managers find a flexible-budget analysis more informative than static-budget analysis?
Discussion Post: Principles of Accounting- Describe a note receivable, the computation of its maturity date, and the recording of its existence.
Explain how two partners, each with a 50% interest in a partnership, can have different amounts of outside basis at the formation of the partnership.
Describe the circumstances in which a C corporation can use the accrual basis of accounting, or the cash basis of accounting, for tax reporting purposes.
How can the use of the budget be used in the planning process? Based on your personal budget, what are your static expenses?