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What were two such observations from the 2019 letter? What do you think that Buffet's attention to accounting issues implies for students studying finance?
Describe how debt affects EBIT, NI, and ROE. Describe how to calculate EVA and MVA and why they are good measure of financial performance.
Discuss the purpose of each financial statement, the order in which the financial statements are prepared and information included in each financial statement.
What are you arguing about your topic and what helps prove your argument? Make sure to weave your three supporting elements from above into the thesis statement
Discuss the differences between financial and managerial accounting. What types of financial statements are used by business organizations?
How can Accounting knowledge be used in your everyday life? Consider such factors as personal organizational skills and financial awareness.
Locate your company's note on revenue recognition. What is the revenue recognition policy? What FASB Codification is being followed?
Explain the difference between fixed and variable costs and give two examples of each. Can a company budget for variable costs? Explain.
Explain the basic components of cost-volume-profit (CVP) analysis. Why is it important to determine a company's break-even point?
Explain how to use planning analytical procedures to identify possible material misstatements for cash accounts, disclosures, and assertions.
Explain the various financial statement(s) needed to calculate a business's working capital and how each financial statement is used.
Identify and discuss three skills that accountants are lacking that limits their ability to produce the right information for management and users.
What are the key components of an income statement? What three financial indicators does a contribution margin help determine? How?
Discuss why closing entries are prepared at the end of the accounting period. How are the accounts affected?
Compare and contrast financial accounting and managerial accounting. Which may be more useful in your current or future job?
Explain the areas where financial accounting is regulated? Why is managerial accounting not regulated?
Discuss how financial reports of a business entity can fulfil the needs of five different stakeholder groups. Explain the rationale behind accrual accounting.
Identify and discuss at least three things you can do via QuickBooks to control A/R so that it does not become a bad debt expense for the firm.
Explain why the market analysis method is more likely to be used in an appraisal of residential real estate than for an appraisal of commercial real estate.
In other words, what types of courses of action may be likely to succeed in this regard?
Describe the information presented on the statement of cash flows. Why is this information important for the stakeholders of a corporation?
Find and discuss a current article concerning a financial accounting issue. Make sure that it is a financial accounting issue.
What information regarding inventories and property, plant, and equipment must be disclosed by Koch Corporation in the audited financial statements issued.
Explain the job order costing income statement and provide a hypothetical example of job order costing income statement in a manufacturing enterprise.
Determine the manufacturing overhead cost per unit of each of the company's two products under the traditional costing system.