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Provide your fellow students with two (legal) ideas how to reduce their state and/or federal tax liability each year.
Define breakeven point for a business and how it is calculated. Why is so much emphasis placed on budgets in today's corporate america?
Explain how the revenue and company operations in general affect various inventories on the balance sheet.
If the impacts of effective lobbying and campaign funding diminish governments role as a corporate enforcer, how might corporations be held accountable?
Identify and discuss at least three types of what-if analyses that an accountant should be able to perform to measure a firm's performance over a period.
Discuss one or more aspects of what you learned in terms of managerial accounting as it relates to your selected event/report.
What forms do most companies file with the SEC on a periodic basis? Explain the purpose of each form and its primary contents.
Discuss the importance of reporting transactions in the correct period for an accrual based business.
Briefly explain the rules of debits and credits as they relate to assets, liabilities, equity, revenue, and expenses. Do debits always increase an account?
Discuss impact of Sarbanes-Oxley on a company's internal controls. Define internal controls and discuss the basic principles for assessing internal controls.
Compare and contrast the views of management and accountants regarding the changes required by the Sarbanes-Oxley Act on internal controls.
Identify one of the six steps and describe the step in detail, explaining the issues that should be considered in that step and how it is computed.
Explain the role of internal controls in business setting. Also explain how not having internal control in place may impact accurate analysis of any wrongdoing.
How would you explain to Barbara what these income and expense items are and how she will compute her corporation's taxable income?
The considerations that should be evaluated before selecting an appropriate costing system. What systems work better for different types of companies?
List the pros and cons for the selling division as well as the purchasing division for each scenario presented.
Later in your conversation this same manager opens a folder and produces a document he just received. What would be your reply to this manager?
Identify at least two critical items of a multistep income statement that is useful to creditors. Provide a rationale for your response.
Distinguish between operation and design control deficiency. Determine the reasons that led Citigroup Inc. to pay $10.5 million in penalties.
He also wants you to provide examples of these cost behavior patterns for him by using real-world examples.
Develop a deep knowledge of financial ratios used for evaluating companies. Describe the importance of financial comparative analysis across an industry.
Now then with this information how can you then create a portfolio, what/how do YOU think these through to build your portfolio.
Explain fixed and flexible budgeting. Provide an example of budgeting for three consecutive periods in which safety margin is included for flexibility.
How will the Three Pillars enable you to contribute to the greater social good in your industry and within the community?