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The more he talked, the more confusing it got. How would you explain the closing process to Anne Marie?
In a report, 2 to 3 pages, describe the purpose of the audit software and describe its capabilities.
What type of advice would you offer to him and did any changes brought about by the Tax Cuts and Jobs Act impact your advice?
Your friend Jay Strawman cannot understand how the characteristic of corporate management is both an advantage and disadvantage. Clarify this issue for Jay.
Examine the significant values of conducting an ethics audit in an organization. Select five areas that you would focus on if you must conduct an ethics audit.
Discuss how you would change the costing method, if at all. Would you add in additional costs or remove any of the costs discussed?
Provide a brief history of COSO. Describe the five components and 17 principles of the COSO framework.
Who do you suspect is being included in creating each step of the various company forecasts? Be specific about the various players and the reason they involved.
Compare and contrast liquidity and solvency. Choose at least two items or events that will affect a company's liquidity and solvency.
Prepare income statements in both job order costing and activity-based costing formats for a hypothetical case.
The Footnotes to the financial statements are also a form of disclosure. Should any amount not be accrued and only disclosed in the footnotes?
Discuss the effects on the income statement and balance sheet and tax effects of each of the inventory cost flow assumptions-FIFO, LIFO, and average-cost.
What are the potential tax consequences and what kind of record keeping do you advise Kenneth to maintain?
What are the ethical considerations in this case? Who are the stakeholders that are harmed or benefited in this situation?
What is Alicia's basis in the partnerships that she inherited from Annabelle? Should Sec. 754 be elected so Sec. 743 can be applied if option 1b is elected?
Explain multiproduct break even analysis. What is the assumption on proportions among the quantities in multiproduct break even analysis?
What is the basic accounting equation? Briefly define the three primary element in the equation. What is meant by statement that financial statement articulate?
Starting with the most general and moving to the more specific, what are the three primary objectives of finance reporting?
Determine why funding is needed for the company. Determine the sources of funding. Consider self-funding, borrowing, equity, venture capital, etc.
Why and how might managers manipulate their monthly estimates of percentage of completion and level of inventory?
Can Activity-Based Costing help you in controlling the cost, even if you don't control the whole ball of wax, how you explain to your Boss, and still keep job?
The better responses will include discussion of how students and beginning accountants can bring Saint Leo University's Core Values to the classroom.
When the equity method is applied, what disclosures should be made in the investor's financial statements?
Estimated taxable income for Judy and Walter (show computations). Summary of tax return, including any suggestions or tax planning considerations.
Analyze the activity-based costing income statement and provide a hypothetical example of activity-based costing income statement in a manufacturing enterprise.