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There are some problems which can and might arise with the managers and budgets.
Review various budgets or reports used in your organization or in an organization with which you are well-known. What are the uses of the kinds of budgets you reviewed?
What are variances and why do these take place? When should one investigate budget variances?
What do you mean by flexible budget? What kinds of organizations might use flexible budgets? Explain why are flexible budgets helpful?
As an investor, is paid-in capital or earned capital more significant? Describe why.
What is the main purpose of journalizing transactions? What is the main purpose of the general ledger and why are transactions posted there?
What do you mean by the term accrual accounting? Why do usually accepted accounting principles need accrual accounting?
What do you mean by the term revenue recognition principle? What is the expense recognition principle?
Describe the steps in completing the accounting cycle? How do the various steps influence the financial statements? What is the effect on the financial statements of missing a step when completing t
Describe the code of ethics for the state of Virginia and describe the accountant client privilege, Virginia's position on accounting work product and code violations which might result in criminal
Using 2005 as base year, create a trend analysis on above data and tell whether results recommend a favorable or unfavorable trend and why.
Compare and contrast three levels of accounting assurance (compilation, review and audit). How much confidence can be place in each?
Describe policy tradeoffs involved in deciding whether to use historical cost or fair market value to value assets on balance sheet.
The following is a historical performance of company. Describe changes during four years given in the chart. Analyze productivity and profitability of company.
For each transaction described, indicate whether transaction would increase (IN), decrease (D), have no effect (N) or have an indeterminate (I) effect on following measures: asset turnover, profi
For most recent fiscal year, Smithson Division of McWesson Wholesaling generated as asset turnover ratio of 4 and profit margin. Compare average assets employed.
Compute profit margin. Compute asset turnover.
What strengths does balance sheet show? Describe. What would you learn from studying income statement for year ended 2008?
Compute ordering and holding costs associated with his policies and compare them to "optimal" ordering and holding costs.
Journalize and post adjusting entries. Create a post-closing trial balance.
Henry's return on common stockholder's equity, for 2007 is?
Any strategic decision should be estimated with careful consideration to changes in industry.
Create closing entries and post them to general ledger (the t-accounts).
From the following selected information, calculate Net cash flow provided by operating activities.
Journalize given merchandising transactions for CSI Systems suppose it uses (a) periodic inventory system and (b) perpetual inventory system.