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Describe the relationship of management control systems to organizational goals. What is meant by management control systems?
Discuss the legal and ethical aspects of accurately reporting income on tax returns using Circular 230 as published by the Department of Treasury.
Explain why adjusting entries are necessary at the end of an accounting period. Identify example of an adjusting journal entry for various types of transaction.
Compare the financial ratios with each of the preceding three years (e.g. 2014 with 2013; 2013 with 2012; and 2012 with 2011).
Calculate the select financial ratios for the fiscal year Year 2. (use MS word or excel but excel is more recommended)
Write 2 to 3 pages memo on discussing our responsibilities for auditing the controls at a service organization, and whether a SSAE 16 report.
How many shares of common stock are outstanding? Assuming there is a stated value, what is the stated value of the common stock?
Compare the tax advantages of debt versus equity capital formation of the corporation for the client.
What is the difference between your running a budget deficit and adding to your own personal debt and the federal government running a budget deficit?
Explain two disadvantages of a SPAN port you might encounter as a forensic investigator. Describe three non-Ethernet protocols Wireshark can capture.
What is the maximum amount of new loans that this bank can make? Assume that the bank makes these loans. What will the new balance sheet look like?
Explain the history and purpose of the Recovery Audit Contractor (RAC) demonstration project, as well as the process of the RAC as it pertains to its impact.
Calculate the value of ending inventory under full or absorption costing. Calculate the value of ending inventory under variable costing.
Explain the effect of reclassifying period costs to product costs on the earnings of the corporation.
What is the highest total contribution margin that the company can earn if it makes optimal use of its constrained resource?
Why do you think the A/P clerk needs the New Expenses account? Who needs to know this information and what action should you consider?
How should the assets be divided? How should paintings and other artwork created before the formation of the partnership be divided?
Economics believes that opportunity costs should always be considered. With which of these statements do you agree? Why?
BBC's inventory turnover ratio (ITR) decreases from 2009-2011. Calculate ITR and evaluate the efficiency of the company's inventory management.
Reflecting on the information presented in this unit, if you were the owner of a jewelry store, what type of internal controls would you implement? Why?
Very briefly describe how you obtain the amount of the entry? Write the journal entry that is related to the ENDING inventory from an intercompany sale.
Be sure to include all items that you will need to investigate computer incident. Create a portable forensic evidence kit for corporate security investigations.
Consider an American automaker like GM with almost 100 production facilities. What decisions does GM have to make in regard to pricing and production?
What happened to this account? Did it go up or down? What could have caused it? What do you recommend the company to do?
What considerations would you have in your business as you consider short-term and long-term investments?