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Explain how accounting standard setting is political process. Identify arguments for and against viewing accounting standard setting as political.
Describe what is meant by measurement in accounting. According to this editor, what are the kinds of measurements investors want?
Information cannot be neutral-it cannot therefore be reliable-if it is selected or presented for the purpose of producing some chosen effect on human behavior. Explain why neutrality is such an i
What factors and incentives motivate companies (management) to engage in earnings management?
Determine the nation's gross domestic product (GDP). How would your answer change if the dollar amounts of imports and exports were reversed?
A consulting firm produces a service that requires the use of labor and materials. Each unit of service requires a standard labor time of 30 minutes (0.5 hours). The average pay rate for a labor hou
The pre-tax cost of debt (rB) for the joint partnership is 9% per annum. In order to encourage investment in the country's infrastructure, the U.S. government will subsidize the project with a $10 m
Identify and explain three types of earnings management that can reduce earnings quality.
Explain how earnings management affects earnings quality. How is earnings management distinguished from fraudulent reporting?
Conduct research which addresses the question, "Why do companies go global?" Review the latest APEC Guide to Investment Regimes, which can be found at www.ustr.gov by going to the Trade Agreements tab
How does a balance sheet analysis provide a check on the validity and quality of earnings?
What is the relation between the reported value of assets and reported earnings? What is the relation between the reported values of liabilities, including provisions, and reported earnings?
Why is Amazon's cash cycle so much shorter than that of competitor Barnes & Noble? How does this comparison affect financial management decisions of other retailers?
What are discretionary expenses? What is the importance of discretionary expenses for analysis of earnings quality?
Contrast sources and uses of cash referencing using at least two examples of assets and liabilities (four total). Provide examples of how cash is used or provided depending on whether it is categori
What is meant by earnings quality? Why do users assess earnings quality? What major factors determine earnings quality?
Economics plays a role in personal finance. Describe the role that economics plays in your personal financial plan. Also, the use of credit plays a role in a personal financial plan. Describe the ad
Explain why a 1 cent misstatement can be insignificant for one firm but significant to another otherwise comparable firm.
Citigroup is currently audited by KPMG. Who pays KPMG for its audit of Citigroup? To whom is KPMG providing assurance regarding the fair presentation of the Citigroup financial statements?
1. The common stock of Wetmore Industries is valued at $60.8 a share. The company increases their dividend by 3.4 percent annually and expects their next dividend to be $4.1. What is the required ra
What does the auditor"s reference to generally accepted accounting principles imply for our analysis of financial statements?
Investigates data to render a professional opinion on whether the statements are "fairly presented." List the potential implications of the auditor"s responsibility to users that rely on financial
The financial statements of The Hershey Company appear in Appendix B, following the financial statements for Tootsie Roll in Appendix A. Assume Hershey"s average number of shares outstanding was 227
Warr Corporation just paid a dividend of $ 1.50 per share (D0 = $ 1.50). Is projected to increase 5% annually over the next 3 years and 10% annually thereafter. What will be the expected dividend pe
What are auditing procedures? What are some basic objectives of a financial statement audit?