An Archive of Impeccable Accounting Answers : Page - 25

QUESTION ONE   1) Cost = $ 2,000,000 (1,850,000+50,000+60,000+40,000)   2)  DR  Machine 2 mil CR  Cash 2 mil     QUESTION TWO 1) Recoverable amount is the remaining future economic benefit. Calculated as the higher between net selling price and value in use. 2) Recoverable amount is $400,000 3) Impairment loss of $600,000 has to be recorded as 4) DR Impairment loss 600,00...

Question 1Q1. Costco carries an average inventory of $1500000. Its annual sales are $8million and its gross profit margin is 25%. The receivable conversion period is twice as long as its inventory conversion period. Costco trade terms with its suppliers is net 120 and it always pays on time. Costco’s new CFO wants to improve the cash conversion cycle by 50 days. Based on a 365-day year. His first strategy is to reduce the amount of invento...

Course Code   :  CE7013

Course Title   :  estimating tendering and procurement

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Learning OutcomesThis assignment is designed to test the following learning outcomes, which are derived from your module descriptor: · Understand the role of the client in the procurement process · Recommend the appropriate forms of procurement strategy for different types of projects · Critically analyse in the tendering and estimating process from both client and contractor perspectives and the importance of using t...

Calculation of Prime CostsQuestion 1 Hakim has decided to open a printing shop. He has secured two contracts. One is a five-year contract to print a comic book. This contract calls for 5,000 copies each month. The second contract is a three-year agreement to print brochures for a Rima University College (RUC). RUC require 10,000 brochures per month. Hakim has rented a building for RM1,400 per month. His printing equipment was purchased for RM4...

Course Code   :  BUS 310

Course Title   :  Accounting Theory and Accountability

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Performance Indicators for Tying Bonuses to Environment PerformanceCase Study Dutch group seeks to tie executive bonuses to social responsibility  By Richard Miln and Micheal Steen DSM wants focus on “People, Profit, Planet” Two Dutch companies have proposed linking top mangers’ pay to broad measure of environment sustainability and worker and customer satisfaction, giving a novel twist to the debate on how to reward...

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Similarities and Differences between TQM, ISO 9001 and ISO 14001Red Manuka Restaurant and Winery Niall owns and operates the Red Manuka Restaurant, located on the lakefront in Queenstown. Four years ago, Niall was having problems attracting and retaining customers so he implemented an ISO9000-based quality management system and gained ISO9001 certification. Building on the success of that certification process, Niall has recently completed ...

Course Code   :  ACFI5020

Course Title   :  accounting for managers

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Evaluating Performance Using Ratio AnalysisThe fortunes of Thomas Cook have been suffering for some time now but there had been signs of recovery but these signs were short-lived and did not gain the momentum that was required to turn around this ailing company. Your task will be to take a closer look at this company and see if the ultimate demise could have been predicted. You are required to : (a)Evaluate the performance of Thomas Cook ...

Report Requirements: You are to prepare a short report (maximum of eightsingle-sided A4 pages)that addresses the specific decisions currently facing different areas of the business(refer to the details on Page 1).Also, please refer to the marking guide (page 6).1.Introduction: Provide a brief and concise introduction of contents of the recommendation report and a highlight of the main recommendations. Outline Coverage2.Analysis -Operating Decisio...

Question a)Describe the general purpose of the statement of comprehensive income. In addition, explain the terms income and expenses as defined by the Conceptual Framework for Financial Reporting.b)Describe the general purpose of the statement of financial position. In addition, explain the terms asset, liability and equity as defined by the Conceptual Framework for Financial Reporting.c)Explain the accrual basis of accountingby defining the prin...

Question   Many auditors have begun to turn their sights to their next group of audits: clients with 2020 fiscal year ends. The World Health Organization declared a public health emergency on Jan. 30, 2020, meaning many of these clients will have been affected by the COVID-19 pandemic during the period under audit.   When states issued stay-at-home orders in March and April, many entities were presented with a new reality. As they s...

Determining Selling Price for Three PropertiesQuestion 1Prosperity Land Ltd (PLL) is a commercial property developer. It designs and builds malls for customers to operate their businesses. Instead of renting the space to the customers, PLL sells the units to them under Strata Title. PLL needs to determine the right selling prices which allows it to maximise profit while attracting many buyers.This assignment requires you to practise principles o...

Course Code   :  AC3059 |#| financial management

Course Title   :  financial management

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This is a task for a group of 4 to 5 students. It is a self-selection process, where students select their own group members. Once formed, the members of thegroup must assume responsibility for management of the group.Group AssignmentUsing a case study of D.T. Hicks & Co (as attached): 1.Discuss the importance of accurate and relevant costs information in managerial decision making2.Criticallyreview costing methods as discussed in the case st...

Prepare the following financial exhibits for 2013 through 2016:   · Ratio table · Vertical analysis of income statements and balance sheets · Horizontal analysis (index numbers) of income statements and balance sheets · Cash flow statements · 5-way analysis of ROE   Assuming the role of William Wyler, CPA, prepare a 2-page memorandum that analyzes the financial con...

Course Code   :  FIn202

Course Title   :  accounting and finance

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1. Suppose you are a portfolio manager using the capital asset pricing model for making recommendations to her clients. You have the information shown in the following table.   Actual/realised return Standard deviation Beta Stock A 14.1% 36.1% 0.81 Stock B 17.1% 25.1% 1.51 Market index 14.1% 15.1% 1.0 Risk-free rate ...

Course Code   :  acct703

Course Title   :  management accounting

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Like many other fields, Management Accounting is being disrupted by a whole host of new technologies, including big data, predictive analytics, artificial intelligence (AI), blockchain, cognitive computing, machine learning, and robotics process automation (RPA). A recent Institute of Management Accountants (IMA) survey of 161 management accounting professionals finds that 42 percent are worried that technology will eliminate their jobs, w...