Questions : 1. This topic includes:2. the business cycle3. profit versus cash4. the three core financial statements: the Cash Flow Statement, Income Statement and the Statement of Financial Position5. the accounting equation6. financial frameworks. Lesson 1 Financial accounting: an overview and first thoughts • 1.2 Introduction to Topic 1Pag...
Question: Short Multiple Choice Questions. 1. Which of the following has primary responsibility to develop Generally Accepted Accounting Principles?a. Financial Accounting Standards Board.b. Company Executives.c. Securities and Exchange Commission.d. Public Company Accounting Oversight Board. 2. Which of the following has the legal authority to determine financial reporting in the United States?a. Financial Accounting Standards Board.b...
Task Instruction Use the case approach and write a memo to the Vice President, Finance. Your memo should include Address to Controller, Introduction, Root Issues, Analysis and recommendation supported by all calculations. For more clarity, you are required to allocate the costs to products and calculate the profit by products. Introduction The purpose of this report is to inspect and evaluate the existing costing system in order to ensure t...
Revenue recognition The student will conduct a research project examining some aspect of financial accounting theory that is currently being debated in the accounting and business world. The topic for this assignment is Revenue recognition. You are required to search for journal articles in professional peer-reviewed accounting and business journals that pertain to your individual financial accounting theory topic. You are required write a paper ...
Task: I. Explain the env iroranent and importance of management accounting; 2. Discuss marginal costing and absorption costing systems and their. Importance; Prepare accounting informal ion from the beginning to the completion of the accounting cycle: E (eradiate between job-order costing and process cost ins, and their tses AnW B3 Use management accounting techniques or analyses to assist managemeR In making decisions. This course is divide...
Questions: "The mission of the International Accounting Standards Board is to develop, in the public interest, a single set of high-quality, understandable, enforceable and globally accepted International Financial Reporting Standards (IFRS) based upon clearly articulated principles.” "The mission of the Financial Accounting Standards Board is to establish and improve standards of financial accounting reporting for the guidance and educ...
Questions: Your assessment brief: Management report You are required to write a 3000-word management report to review decisions and make recommendations for future decisions and actions in ONE of the following live business case studies. 1. Total 3200 words for this essay, need to provide the citation. 2. Must exactly follow the guildine and structure I provided. Please refer the attachment for guideline part. 3. Need to provide relev...
Assignment Part A Provide short answers to each of the following questions. Make sure your answers are in your own words and are your own work. Question 1 Define accounting information system in your own words. Question 2 Explain how moving to a computerised accounting system should affect a firm’s ability to generate a range of reports Question 3 Explain the difference between analysis and creating a summary. Question ...
Question: Introduction The strategy approach in strategic management directs the firm towards being a lot more innovative, flexible and provides direction about the route organizations should follow in pursuit of their objectives. According to (Venter, 2014), students always complain about the way strategy is taught which is different from the way it actually is in their organization. Nevertheless, businesses today have been hit by the effect...
Questions: Case Study The Fit Stop Ltd. is a new firm that will open its doors exactly four months from today. Its business objective is to sell all types of training, fitness, conditioning, and exercise equipment to the general public. The Fit Stop plans to specialize in this equipment and to provide customers with personalized advice geared to a customer’s specific training or conditioning needs (e.g., training for a particular...
Task Case Study Is Prudence Still a Virtue? The concept of prudence and its use, or non-use, in financial reporting has been the cause of much angst and the subject of swirling debates in recent years. Outside of accounting and legal circles, prudence, like so many other words of another era, is a descriptor, if not a concept, on the wane. It refers to the exercise of good judgment, informed by intelligence and good character. Pru...
Questions Question 1 (40 marks) Choose the best answer for each of the following questions [20* 2 mark each]: 1.The system of preparing financial statements based on recognizing revenues when the cash is received and reporting expenses when the cash is paid is called: A.Cash basis accounting. B.Operating cycle accounting. C.Accrual basis accounting. D. Revenue recognition accounting. 2.During a period of steadily rising costs, t...
Task: Research Project 2 (2000-2500 words) The purpose of the second research project is to consider the knowledge/skills that you believe are most important to being successful in accounting and accounting-related professions. Use your internship experiences to guide your understanding of the most critical knowledge/skills. Requirements: 1) Consider the tasks that you completed during your internship. You can use your weekly journal (see I...
The submission must consist of: 1. MS Word file with answers to the Accountant’s questions. 2. Excel file with adjusting entries entered resulting in adjusted trial balance and common size statement of Income for HEMI and Wajax Corporation. 3. MS Word file with a one-page report comparing HEMI to its competitor (Wajax Corporation). Case Study Information You have been hired as a Financial Consultant by Heavy Equipment and Machinery Inc. (HE...
Part A1) Users of accounting informationThe textbook, Smart, Awan & Baxter, p. 21 lists the following stakeholders who have an interest in accounting information:owners and investorsmanagerscreditors and lendersemployeesthe governmenta) Explain the meaning of ‘stakeholder’.b) For each of the five listed stakeholders above, state:i) a specific decision that the stakeholder would make, that would require accounting information befor...
Question: Assessment Overview For this module, summative assessment will be via this single in-course assignment; to support evidencing achievement of the learning outcomes for the module, a written critical analysis report forms the basis of the module assessment. The assignment ‘Information Assurance and Risk Management White Paper’ is worth 100% of the total mark. It is an individual assessment and should therefore be all your...
Task Overview The written project in MG 4343 Operations Management will involve each student in observing and evaluating the overall delivery process of a service system. In general, this project requires the student to collect, analyze and evaluate information related to the basic delivery process of a business system in order to evaluate its alignment to the intended strategic operational focus and offer recommendations for improved p...
Questions: Unit OneOn completion of Unit 1 you will be able to:1. Define management and discuss how the primary managerial roles are interrelated. 2. Summarise the challenges supervisors face in fulfilling managerial roles and the demands and challenges of transition to being a supervisor.3. Identify the purpose of supervision and the major demographic and societal trends in the workplace that impact on the effective functioning...
Task: Relationship of Assignment to Learning Outcomes (Refer Course Guide). L.O. 2. Demonstrate knowledge of generally accepted accounting practices.Although these are projected statements, they are prepared on the same basis as historical statements. Some of the transactions will help you understand the impact of accounting policies such as depreciation and accrual accounting with the latter especially evident when comparing the Income Statemen...
Question: Economic crisis In 2008, the world economy crashed and so did the “Big Three” US car manufacturers. General Motors (GM) filed for bankruptcy, Ford Corporation reported a $12.7 Billion loss, and later in 2009 Chrysler went into bankruptcy protection. However, their Japanese counterpart, Toyota Motor Company, sustained its leadership in the car industry. Toyota Motor Company considered “this headwind as a valuable op...
. What are the concepts and values of environmental accounting and assumptions? What are the main problems facing the accounting in the process of estimating the terms of the environment? What are the accounting methods adopted in the allocation of funds for environmental spending?
Questions 1. Choo Choo Inc. is a manufacturer of model trains. The company is considering the purchase of an industrial 3D printer, which will allow the firm to produce custom-made model trains for its high-end customers. The printer will cost $2,500,000, and it is expected to produce net cash flows of $600,000 per year for the next six years. Liquidation of the equipment will net the firm $350,000 in cash at the end of six years. Th...
Task: The TMA covers the accounting information systems concepts and practices in the businesses; as you work, you will gain confidence in your ability to use the accounting information systems of real company. It is marked out of 100 and is worth 25% of the overall assessment component. It is intended to assess students’ understanding of some of the learning points within chapters 1 to 4, and 12. This TMA requires you to apply the cours...
Questions: Advise Canto On Whether The Above Items Should Be Accounted For As Intangible Assets Under Ifrs For Smes And Discuss The Key Differences Between Accounting For The Recognition Of Intangible Assets Other Than Goodwill Under Ifrs For Smes? Answers: Introduction Yes the mentioned items in the case should be considered as “intangible assets” under IFRS for SMEs because the domain names owned by Bento can be used by the ...
Questions: Instructions To prepare for this assessment you will select a listed company from an Aotearoa New Zealand context and an Iwi/Māori organisation to use as case studies. Using your selected case studies your report will also critically analyse differences in financial decision-making considerations for Iwi/Māori and New Zealand organisations. Two companies are Otago polytechnic (non iwi) and Te wananga o Raukawa (iw...