Accounting Case Studies Samples For Students

Introduction to Management Accounting

Introduction:
The management accounting and the financial accounting provides the fundamental base for presenting the organizations' past, present and the future performance. However, financial accounting deals with preparing financial reports under the strict regulations of the country specific generally accepted accounting principles and follow the reporting regulations of the stock exchanges. The financial accounting provides information regarding past years' performance and it is primarily used by the stakeholders .
On the contrary, management accounting plays an active role in planning, preparing budgets, assessing performance, evaluating reasons for variances, taking control actions. Along with this, management accounting involves decision ...

The organization chosen for the purpose of this assignment is Mars Inc. The reason for choosing this organization is that my relative Mrs. Rachna Kapoor have been working as an accounting professional for 5 years in their Cost Accounting and Budget Management department in London, United Kingdom.

About Mars Inc.

Mars Inc. has been initiated in 1911, when Frank C. Mars prepared candies and started the Mars confectionary. The story of success began with the launch of many Mars chocolate brands, namely Milky Way in 1920, and continuing the similar story to register twenty nine chocolate brands as in 2014 .
The ...

Introduction

This case study focuses on the opening of new Dunkin Donut locations. Dunkin Donuts is an international donut and coffee house company with headquarters at Canton, Massachusetts. The company belongs to the food and beverage industry. The company offers baked foods such as donuts and bagels; iced beverages; hot beverages; soft drinks and frozen beverages (Rangaswamy, 2012). The management of Dunkin Donuts franchise intends to open five new stores in two years’ time. This case study presents the job design (Franchise manager, baker, accounting manager and coffee maker); organizational design; recruitment and selection procedures and the training and performance ...

Business Analysis Using Financial statement

We conducted an analysis to determine if Baidu is facing critical accounting assumptions.They represent the basic elements that should be put into consideration when preparing accounting reports.They include the recognition of the trreatment of the various items in the income statement and the cash cashflows. The treatement of various items as presented in them .inorder to prove this we carried a critical examination of Baidu financial statements and focused mainly on the income statement and the cashflows statement.both of these statements have been prepared according to the accounting standards set by the U.S GAAP which is the the accountion system ...

INTERNATIONAL STANDARDS OF AUDITING

Introduction
An Audit report is a formal disclaimer or opinion given by either an internal auditor or an outside auditor (Collings, 2011). The audit report, after completion, is handed over to the consumer, the company or organization in which the evaluation was done, so as to show assurance of service. The report can then be applied in decision making by the user or can be put to other uses. The audit report is a very paramount instrument when it comes to reporting financial information to businesses or organizations. The International Standards of Auditing (ISA) are the professional standards and guidelines ...

Dear John,

Please find the below report analyzing different costing techniques and how they can be effective to your company.
It is my sincere hope that the contents of this paper will be useful to Mahir International now and in future.

Intern,
Mahir international.

Executive Summary.3

Introduction 3 & 4
Part A: Calculations (in excel) 7 -12
Part B: Analytical Discussions 4 - 7
Recommendations 6.

References12

.
Executive Summary
Mahir industrial works with giving unique design for valves and stands at a better position than any other industry. There is loyal customer base that is a result of high-quality valves. ...

Introduction

The thing that categorize among a powerful and weak company is their strategies and complying behavior with the regulations and regulatory authorities. Apart from the general operations, organizations have to consider a strong behavior with their accounting department as well. Accounting department is known as an important department with its core adherence with the productivity of a corporation, and it is usually addresses the day to day transactions of a company (Leung, Coram & Cooper, 2007).
In the current economic scenarios, there are certain restrictions and suggestions that are essential for the accounting department of a company, but still there are bulk of examples can ...

The organization may benefit and the investors or the users of financial information who rely on the information to make a decision may be harmed. They are likely to be harmed if they make a decision to invest in an organization which has manipulated the financial information. The investors may end up losing their money. The right to know adequate information about the organization which is fair and true is violated. The claims made by the investors for their money may also be violated. The interests of the organization and the statutory requirement to report correct financial information is in conflict. ...

Accounting is the name of recording and interpreting the day to day transaction in a manner that effectiveness would have been evolved in it. Financial statements are known as the statements in which relevant information related to company’s financial belongings and financial position would have been found. Creation and conducting of audit is more than essential for the sake of an organization, and it will usually involve different reporting standards. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) are some of the major financial standards that used by the companies to create and conduct financial audit.
...

Introduction

My name is Seung Joon and I am going to take you through the introduction and the conclusion parts of the Enron Accounting Scandal. This scandal has been used as a case study by many students taking Finance, Law and Ethics because of its relevance and implications to accounting principles and ethics. It is often cited in business debates as one worst corporate scandal in America. The introduction highlights the background of the company and the scandal while the conclusion provides the summary of the key points in the presentation. The body shall be presented by Max, Minho and Kevin. ...

The old system which was not integrated gave problems to the company. This is because they were not able to get small vendors who could otherwise be efficient and reliable. The small vendors could not afford to have the EDI system and so opted not to bid for contracts. This is a problem to Dollar General because they missed the services of these vendors. Another problem that the company faced with the EDI system is that it took time to have one process completed. This is because they had to undertake the process themselves. The old system required that the ...

This article is based on the general ledger and accounting efficiency which is the basis for the preparation of the financial statements for an entity. It explains how the proper management and review of the general ledger function helps in saving time and reducing audit risks. Further as it emphasizes the maintenance of ledger accounts and centralized company systems, all this enables in the preparation and accuracy of the company financial statements; the objectives for this week.
This article relates to the maintenance and preparation of proper general ledger accounts and how this enables efficiency and effectiveness for ...

Part I.

It goes without saying that reliable and objective financial reporting is vital for any business entity. Adequate financial reporting is important in order to be able to track, analyze and implement changes in business operations. In addition, financial reporting gives managers the opportunity to take appropriate measures if financial performance of a company does not meet the expectations. Most of the financial reporting in the world is conducted according to one of the two standards - United States Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS). Understanding both approaches is extremely important in international business and ...

Statement of Problem

Finance and accounting are two different things but most of the people regarded both of them as identical or similar one. Accounting is basically a name of recording the transaction of an organization, while finance is the name of utilizing the funds of a company at a perfect place from where the likelihood of earning would be on a higher scale in total.
Concepts that come under the ambit of both of these broad visions are important to analyze as both of these broad concepts have something very different. Finance based versions and decisions are important for an individual, therefore they have ...

In the case, Robert Lee, the partner-in charge of the engagement, made a decision to purchase the outstanding stock of Stewart International basing his decision on unaudited accounting records. Joseph Chang is in a dilemma whether to submit the audited accounting records which apparently does not reflect the 25% increase in earnings that has been reflected by the unaudited accounts which will make Robert and Charles stop reclaiming the company’s stock from members of the public or to go without reporting the audited accounts and leave Robert and Charles continue to repossess the outstanding stock.
Joseph Chang’s decision ...

Article Summary: Four Star Parachute by Nick Mulcahy

Introduction
Changing careers is a challenge many professionals find refreshing and challenging at the same time. For one, a professional that undergoes career change faces the prospect of arriving at a forked road that may lead to either success or failure. Success could bring great fulfillment while failure may entail disappointments. The comfort zone of a professional provided by his current endeavor could also provide a challenging front to the objective of changing careers, especially if fear of failure is part of the equation. Notwithstanding the costs and benefits, career change provides professionals with the opportunity to realize their potentials in settings other ...

In the United States, Federation of Accounting Standard Bodies sets Generally Accepted Accounting Principles(GAAP) and outside United States,International Accounting Standards Board, sets the International Financial Reporting Standards(IFRS).
The approach carried out in IFRS and GAAP accounting standards is different. There are many accounting treatments for various transaction that differ under both of the accounting standards.

LIFO Inventory accounting is not allowed under IFRS. However, US Firms following GAAP accounting standards are required to dislcose LIFO reserve in the footnotes of financial statements.
LIFO Reserve = COGS LIFO - COGS FIFO

This adjustment enhances the comparability between US GAAP and IFRS firms.

Treatment of Interest and Dividends ...

Part IGenerally Accepted Accounting Principles (US GAAP) GAAP are accounting standards that are used for preparation, presentation and reporting financial statements for public, private, government and nonprofit making organizations. The purpose of these rules is to ensure that the reporting of financial statements is transparent and observes consistency. This is a measure to ensure that those relying on the reporting make prudent economic decisions. Financial statements covered by GAAP include the balance sheet, income statements and the cash flow statements.

International Accounting Standards (IFRS)

International financial reporting standards refer to a setoff accounting rules developed by international accounting standards board. The standards ensure that business ...

Risk in accounting can arise from very small errors in the books. Marsee, an accountant in a Construction Company must maintain all the records in a clear manner so as to minimize the effects of risk. A construction setting is very prone to risks since it involves a lot of variables that must be factored in the books. The risks in her accounting records can arise due to;
First, large amounts of cash at hand to pay petty transactions that might not be in the general budget increase the chances of misappropriations. Liquid cash is very prone to impulse spending and ...

Question One

The financial statements of a company should be prepared in accordance with the accepted accounting principles and guidelines. It is the role of the auditors to make sure that the financial statements prepared reflects the true and the correct financial position of a company. There should be adequate disclosure of all the transactions in the financial statements. Disclosure is made by the use of notes provided after the financial statements have been shown. SEEK Limited is the leading provider of online employment services. It is located in Australia and New Zealand .
The disclosure of the financial statements of SEEK Limited ...

A statement of cash flows, which also referred to as the cash flow statement gives an account of how a business manages its funds. It is part of the financial statements and complements other financial statements as balance sheet and the income statement. It accounts for cash and cash equivalents that enter and leave an organization. The chief objective of a cash flow statement is to offer information as regards an organization’s cash transactions in the financial year under consideration. It also provides information about an organization’s operating activities, financing activities and investing activities. This paper seeks to distinguish ...

All businesses are evaluated based on their performance. In the previous years, incomes or profits were used to estimate their performance. The Generally Accepted Accounting Principles (GAAP) and the International Accounting Standards (IAS) define profits as cash and non-cash net revenues regardless of whether they have been paid for, or not. This presents a drawback because some non-cash incomes like gain on disposal of assets and decrease in the provision for doubtful and bad receivables are not realistic. In an attempt to solve this, application of cash flows to evaluate the performance of a business emerged.
Cash flow method has ...

The Strathfield Health Centre is a comprehensive Health Care provider catering its services to the Strathfield region in Sydney, Australia. The facility was started in 2003 by a group of six doctors. The facility is currently headed by Dr. Louis Lima. The SHC has been constantly expanding its operations and serving more and more clients each year. With this the administrative problems have also begun to emerge and there exists a need for a review of the overall operations and recommend a few changes that could be made for a smoother functioning of the facility.
The paper shall present a concise account of the interviews ...

FX or Foreign Exchange Translation Adjustments are increasingly important in today’s corporate accounting world. It is no longer a problem of comparing “apples to oranges,” and applying a relatively stable exchange rate between countries at a relatively slow pace. If produce is used as a metaphor, it is more of a “fruit salad” where one bad piece could spoil all of the economies that touch it. On the other hand, great profits can be realized by companies that succeffully balance prudence with taking advantage of shifts in their Foreign Exchange Translation Adjustments.
Foreign Exchange Translation Adjustments are judged as two types, Transaction ...

Executive summary

Special purpose financial statements that are conventionally provided by small businesses usually offer limited information in both quality and quantity. The main reason behind this is the freedom in reporting that small businesses have. Consequently, lenders have to be careful when using these statements in lending decisions. As a small business, Boat Builders Pty Ltd’s financial statements may not be in a good state as provided to be used in a lending decision. A critical evaluation of whether they represent the true status and performance of this business is necessary before a detailed financial analysis is done. A number of concerns arise ...

Credit Analysis

The special purpose financial statements are financial statements that are only limited to specific users. They are prepared using a special purpose structure to meet the special needs of particular users of a financial statement. Addition their use are limited and are not prepared for the general public. Special purpose statements are in most cases prepared for the internal users such as management and there are these made for the specific users such as banks and government. For instance, those financial statements that are prepared for tax purposes are prepared in accordance to the regulatory framework. Therefore, the special purpose financial ...

Question 1:

As a successful accounting firm, Katz, Sapper & Miller understands basic accounting concepts, such as the concepts of expenditure on marketing, productivity and management. Good accounting skills will careful scheduling as well as effective communication and will allow Katz, Sapper & Miller to reach attain its full potential (Knapp, 2011). Appreciating various ways of how to ensure that the firm remains productive enables the firm to attain the most of its money. Accounting values give Katz, Sapper & Miller an identity as well as create healthy work environment. In addition, according to accounting building information makes its clear and concise accounting values gives ...

The current paper examines the issues of strategic management accounting including stages of strategic management process, the roles of management accounting, concept of opportunity costs, concept of relevant and irrelevant costs, cost classification and practical application of breakeven analysis. Besides, it contains examples illustrating some of the above listed concepts. The claims are supported with relevant arguments; the examples reflect the issues associated with running business in contemporary market environment. Each task is divided into sections related to different parts of each question. Each part of the question contains appropriate conclusions.

Main Stages of Strategic Management Process

According to ...

Differences between managerial accounting and financial accounting

Financial accounting is mandatory since some external parties like tax authorities’ creditors and shareholders’ require such periodic statements, while managerial accounting, is not mandatory. Managerial accounting reports are prepared for use by managers while financial accounting reports are made for external parties. The former must be prepared according to the GAAP standards, while in managerial accounting some provisions are ignored. Though the two procedures use the same data, the relevance is different; financial accounting data are verifiable and objective and used when to solve situations at hand (Tulsian, 2002). On the other hand, managerial accounting data is flexible and ...

Accounting

Revenue recognition:
The recognition of revenue is an important aspect because they dictate the financial position of a company. Under this principle, the revenues are recognised in the period whether or not they are paid up in the same time. The transaction that raises the revenue is recognised as the driver of the revenue. In that case, once the transaction occurs, the revenue is recognised. This means that the transaction for delivery of services or goods leads to the revenue falling due immediately. The revenue is recognised once the product is delivered. The arrival of the revenue is assumed ...

Question 1

Caledonia should focus on cash flows and not accounting profits when analyzing the new project because of several reasons. First, in capital budgeting decisions, investments are usually in the form of cash outflows. Therefore, only costs that result in actual outflow of cash are relevant n such decisions. However, accounting profits includes sunk costs and non-cash expenses such as depreciation that are not relevant in capital budgeting.
Secondly, in capital budgeting decisions, the timing of cash flows is very important. This is because of time value of money. In using free cash flows, only actual cash out flows ...

Accountancy is a subject, which many managers feel to be just an art of matching numbers. Therefore, managers need not be concerned about accounting ,after all the caricatured old faithful employee is always the accountant in popular fiction. Today very few of these old managerial types exist and they are about to be extinct, if they do not change their ways of thinking. The successful manager today knows all about managerial accounts and the meanings of such acronyms as ROI, ROCE, and BEP. Moreover, they can even carry out analyses of accounting heads in the corporate rat-race and they frequently ...

Statement of the Problem

1. Destin Bras Products Co. (Destin) founded by Steve Abbott, John Scott and Roland Guidry and is a local success story in Destin, Florida and is in the business of producing valves, pumps and flow controllers.
2. Destin is facing stiff competition. Currently Destin’s revenues come from valves (24%) earning the company a 35% gross margin, pumps (55%) which has been observed to be weakening to a gross margin of only 22% and flow controllers (21%) even after increasing prices by 12.5% have not been attacked by competitors. With no technical patents or other advantages, Destin has no idea how ...

Statement of the Problem

Destin Bras Products Co. (Destin) is a company engaged in the manufacture of valves, pumps and flow controllers. Destin is a highly competitive company, having at its helm Steve Abbott, John Scott and Roland Guidry and is a local success story in Destin, Florida.

Recently, Destin has come under fire by way of significantly shrinking gross margins due to price pressure from competition. The production of valves has contributed about 24% of the company’s revenues and has comfortably retained a 35% gross margin. Pumps, which contribute 55% of total revenue, have been under siege recently because of similar pumps in the market ...

Critically discuss why principles-based standards require a conceptual framework and how the principles-based approach can enhance the quality of financial reporting: Financial reporting depicts the present condition of the organization while bringing in use the various relevant financial statements and communications such as annual reports, management forecasts, news releases etc (Bragg, 2011). A conceptual framework can be understood as a consistent system of interconnected goals that is potential of creating an unswerving standard. Such framework basically ensures the adherence to the laid guidelines rather than just sticking to rules.
At a certain echelon, a conceptual framework can be perceived as an attempt ...

Cross cutting: Cross cutting implies the restructuring of resources available to an organization in such a way that the make more sense than before and also add to the efficiency of the organization in terms of money, time and other latent resources.
Both International Accounting Standards Board and Financial Accounting Standards Board are working together to come to common terms in establishing a common conceptual framework for the purpose of financial accounting and reporting standards that need to be set in the face of the complexities arising out of intricate nature of financial transactions and rampant globalization. In the present ...

1. With a 22.7% gross profit ratio, and a 5% return on assets, there is a huge red flag raised. It makes no sense when looking at Crazy Eddie’s figures as to why the profit ratio should be so low. With a profit margin of just 3% over a three-year period, a red flag is raised. This is because with so many millions of dollars in sales, one would expect the gross profit ratio and return on assets to be higher, especially since the chain was expanding during this time period. Because of this, an audit was necessary in order to determine where the ...

It is suggested that several parties can benefit from a conceptual framework. Do you consider that a conceptual framework is more important for some stakeholder groups than others? Explain your reasoning.
Conceptual Framework: In the words of Duska, Duska & Ragatz (2011, p.11) “The conceptual framework is a coherent system of interrelated objectives and fundamentals that is expected to lead to consistent standards and that prescribes the nature function and limits of financial accounting and reporting”. In the light of the above definition it is clear that the main areas of concerns related to financial accounting and reporting that are addressed by a ...

Ronald performance remained constant for the two periods. According to the absorption costing income statement the net income increased as shown in the excel spreadsheet. The net profit increased from $438,000 in the first quarter to $475,000 in the second quarter. This shows an 8.45% increase in net income as shown in the excel sheet. However, according to contribution margin income statement; the net income remained the same in both quarters. The profit levels for both periods remained at $250,000.The increase in profits in the second quarter under absorption income statement can be explained by changes ...

Andrew Fastow, Enron’s Chief Financial Officer (CFO), devised two limited partnerships in 1999 – the LJM Cayman, LP (LJM1) and LJM Co-Investment LP (LJM2). The underlying purpose for this scheme was to buy back the stocks and stakes of Enron that were performing badly and in this way improve the appearance of the company’s financial statements. These partnerships were formulated exclusively to operate as independent equity investors intended for the special purpose entities that were being exploited by Enron (Bratton 31). Special purpose entities (SPEs) were utilized by Enron to finance and deal with risks related with particular ...

Introduction

Massachusetts Eye and Ear Infirmary (MEEI) is a non- profit organization which for the past decades has had problems in its evaluation on the way the cost are being evaluated and appropriated to patients. The system that was being employed in the hospital was insinuated to be ineffective in the sense that it did not put into consideration all the necessary measures that are required before allocating costs. According to the executive director, Mr. Charles wood, there is a need to change the traditional method used in evaluating the costs and instead embrace the new method. Central to his thoughts, the ...

1. Draw a system diagram showing the product and information flows between WGD and FastFit, starting with FastFit placement of an order through when it makes payment for goods received. This diagram will represent each company as a circle for a total of two circles.

2. Next, complete a more detailed diagram that has five distinct processes (hence five circles), two for FastFit (Headquarters and the Warehouse)) and three for WGD"??s three departments. This diagram should also include the database associated with each WGD department using the cylinder symbol, there are three of these. Now fill in the flows from Q1 above. ...

1. Introduction
The Enron collapse, occurred in October 2001, consequently caused the bankruptcy of the whole Enron Corporation, the world’s leading energy, commodities and services company, as well as the dissolution of Arthur Andersen, which was one of the top five largest audit and accountancy firms in the world. Noteworthy it was not only the largest bankruptcy proceeding in American history at that time, but also the most serious audit failure, so that one says, “Enron is fraud and fraud is Enron”. The rise of Enron was almost as fast as its failure. Actually, it was an ...

Enron Corporation, a company founded in 1985 and grew rapidly, gained wide media coverage as it hit a share price of $US90.75 in 2000. The company spread its business to various sectors over its short course of growth. The growth was attributed to its former CEOs Kenneth Lay and Jaffrey Skilling. However, the real picture was different, for Skilling and his team through their unethical accounting practices had been cheating Enron’s investors. They kept the firm’s huge debt hidden with intent to maintain the reputation of the company. Skilling and his colleagues verbally attacked the industry analysts ...

A Faculty Budget

A Faculty Budget
The main demand of the accounting profession for the accountants is to produce the information as per the ethical, legal and the guidance of the regulatory framework. The accounting information for the internal use of the organization plays an important role in the profitability and the direction of the business. Therefore, it is the responsibility of the accountants to produce relevant and best estimated budgets or estimates for the management of the business.
In the current scenario, the ethical issues arise in the making of a budget are as follows. Jackson Daniel is a junior accountant ...

Executive Summary

One Tel Communications was the fourth largest telecommunications company in Australia. It touches on matters regarding poor management, fraudulent misstatements, the use of remuneration packages for self-interest and lack of regard of accounting policies and legal regulations. These, together with other factors, have led the company to liquidation in 2001.
This report summarizes the key facts from the start of the company business, its capital structure, the people involved in the accounting scandal, the auditing scenario, factors that contributed to the business failure, the audit risks existing at that time, to the conclusion and possible audit procedures that ...

Re:

Introduction

In 2000, the Chief Executive Officer (CEO) of Qwest, Joseph Nacchio, was charged civil and criminal liabilities after it has been found that he violated the provisions of GAAP against fraud and insider trading. He was sentenced to six years in prison in 2007 and was slapped with a $19 Million fine and a forfeiture order for proven illegal stock sales transactions worth $52 Million. In this memo, the author discusses the different aspects of Qwest’s case, emphasizing the role of GAAP and the PCAOB.

The Generally Accepted Accounting Principles (GAAP) refers to a standard framework of ...

Business Process

“Chemito Free” is the manufacturing company that produces the cleaning products free of toxic chemicals and insights. The mission of the company is to protect the environment from the toxic substances and facilitate the society with environmentally-friendly products. The products include household cleaners, vehicle cleaners, hand washes, sanitizers, baby cleaners, fresheners, bathroom cleaners and controllers. The company is going to offer its products in the local as well as in the international market. Being a manufacturing business, it is very required and important for the company to maintain its business processes to make its products outreach to the customers ...

Individual Tax Case Study

Facts
Age: 60
Marital status: Single
Bob recently retired from IBM and has $690,000 available from his 401(k) fund. He plans on using the money to open a used car business. The business will be located at 210 Ocean View Drive in Pensacola, Florida. The estimated taxable income from the business might be $300,000. Bob’s individual wealth including investments in stocks, bonds, and land is approximately $14,000,000. Last year, Bob reported a dividend income of $6,000 and an interest income of $20,000. The $14,000,000 comprises of land worth $9, ...

Powers Report: The Enron scandal

The Enron scandal that occurred in 2001 has been cited as the biggest audit failure. The scandal would later lead to the bankruptcy and collapse of Enron Corporation. Enron was an American energy company that was based in Houston. It was the largest energy company in the United States. The scandal also led to the dissolution of Arthur Andersen, an accounting firm that was one among the largest five accounting firms in the world. The investigation began when the share price of the company declined sharply from $ 90.75 in the mid of 2000 to less than $1 in 2001 ( ...

Enron

Executive Summary
Introduction
Accounting and Finance are two important things from the standpoint of an organization and both of these concepts found exceptionally wonderful as far as operating an organization is concerned (Warren, p.119). Organizations usually have number of departments under one roof and every department is held responsible to play its part for the economic prosperity of the company. Accounting is the name of recording and interpreting the day to day transaction of an organization, while finance is the name of utilizing the funds of a company at an appropriate place from where the likelihood of earning ...

GAS 14 requires a firm to translate all transactions involving foreign currency into the its functional currency. The standard provides that the functional currency should be identified considering the general economic condition (Drsc.de). Transactions are initially recorded at the spot exchange rate on the date of the transaction. After which, monetary items are translated using the exchange rate on the date of preparing the statements (closing rate). Non-monetary items are translated using the rates used on acquisition. Any losses or gains on translation are recognised in the income statement as profit or loss (Drsc.de). The financial statements of subsidiaries ...

After working for a big Accounting firm for six years, Amanda Smith decided to start her own accounting and tax returns firm. Initially she had one employee but the departure of a major competitor signaled an increase in clients and compelled Amanda to employ three more accountants. However, after a few months, complaints on tax returns started troubling Amanda and her company is on the brink of collapse. This paper seeks to make recommendations to Amanda on the five facets of management that she ought to polish up to ensure an upturn in fortunes for Smith’s Accounting and tax Returns. The ...

Part one

U.S president purchases a Mercedes Benz C230
Mercedes is made in Germany therefore it will have to be imported to the United States. This is a debit in the balance of payment account. Importing the Mercedes is a transfer of good meaning the current account will be the one to be affected.

U.S resident purchases Chevrolet Impala

Chevrolet is a U.S based firm. Therefore, this is a no entry to the country’s balance of payment statement.

Foreigner purchases GE dryer

GE is a company based in U.S. The country has to export GE dryer to the foreigner leading to a credit entry in the balance of payment. ...

Direct versus Indirect Methods of Preparing a Statement of Cash Flow

There is a difference between the direct and indirect methods of preparing a statement of cash flow. In the direct method of preparing a statement of cash flow, the cash flows are listed in the operations part of a cash flow statement. The cash flows that result from operations is in the form of cash paid to suppliers, customer collections, and the money paid to employees among others. In this section, the cash that is paid for interest and income tax is also reported. The direct method of preparing cash flow statements is problematic for many companies. The problems that arises when the ...

<<Name>>
<<Professor Name>>
<<Subject>>
<<Date>>

Research Findings. The phenomenal rise and downfall of WorldCom will go down in history as one of the most turbulent times witnessed in corporate America. The issues related to WorldCom, brought to light many ethical dilemmas, which professionals in the Accounting and Internal Audit functions face, in their working life. The internal auditing function is an activity which helps an organization, by improving its operations and achieves that by implementing systematic processes and a disciplined approach to risk management, control and governance. ...

The production director of Wilmslow Ltd wants to schedule production for quarter 3 (the twelve weeks ending 17 September) and asks you to use the revised information to prepare the following:
- The revised production budget for Alphas and Betas;

Closing stock is 5 days and 10 days of sales for Q4, for alpha and beta respectively, which is 20% more than the new estimated demand, so the Q4 estimated demand is 120% of 2000 and 2400 respectively
=120/100*2000=2400
2400/12=200 units (12 weeks because each week is 5 days)..For Alpha

For beta;

=120/100*2400=2880
2880/6=480 ...

Introduction

The following are interviews aimed at establishing the pros, as well as cons of having certain types of jobs in a company. As such, the assessment will help identify whether the field whose professions will be interviewed are worth pursuing. Three professions will be identified. They will include; a salesman, a financial accountant, and an IT technician.

Personal Information

Business Address P.O Box 275-20394 Street Address 3700 California St, San Francisco, CA 94118 City Belmont . State California Zip Code LOS ANGELES CA 90087

Business Email: Business PhoneNumber: 1-877-242-1728

What sort of things do you do on a daily basis?
Each day, I must ensure that the assigned territory is ...

Competition Bikes Inc. Storyline

Horizontal Analysis
Horizontal analysis involves a comparison of companies’ performance over a specific duration. The intent of this paper is to analyze the performance of Competition Bikes Company using various methods. There is a commendable performance in Competition Bikes Inc as is shown by the analysis done on the income statement and the balance sheet. There is a decrease in sales in the year 7, as well as 8 by 15 percent, but an increase in net sales by 33 percent was achieved in year 6 and 7. The decrease in sales could have been attributed by a general increase in prices, recession ...

The professional standards i.e. International Ethics Standard Board for Accounting (IESBA) enables a company’s auditors to provide tax services and retain their independence. The standards give permission to audit firms to provide non-audit services if the provision of services does not conflict with the independence needs of auditors. The non-audit services are known as permissible non-audit services ranging from professional advice related to transactions, tax services, and advisory services regarding business activities. The tax services include assistance related to tax return preparation, tax calculations to prepare transactions, and planning and resolution of tax disputes. Absence of conflict enables ...