Explore BrainMass


Foreign Currency Translation: SFAS 52

Please provide at least 300 words on the following question to provide a good understanding of the information provided. Please provide a reference. Thank You Discuss SFAS 52 guidelines as to when foreign currency financial statements are to be "translated" using the current rate method and when they are to be "remeasured" us

Translation adjustment

Please provide detailed information for question below and over 250 words. Provide at least one resource. Thank You What is a translation adjustment? How is it computed? Where should it be reported in a set of consolidated financial statements? How might it differ in different companies and in different industries? Provide e

Calculating goodwill assets

Acme Corporation is buying all the assets and assuming all the liabilities of Stark Inc. The following information is available for Stark Inc. at the date of the purchase: Accounts Receivable 300,000 Inventory 100,000 Equipment

Risk Assessment Creating

Assignment 3: Final Project Risk Assessment Create a 3- to 4-page report in Microsoft Word, addressing the following: Perform a risk assessment of your new business and its information processes. Research and describe the internal control systems and activities that will be required to protect your company's as

Identify the missing internal control characteristic

1. Identify the missing internal control characteristic in each situation. 2. Identify each firm's possible problem. 3. Propose a solution to the problem. Situation a. In evaluating the internal control over inventory for the Williams Oil Services Company, an auditor learns that the warehouse receiving clerk is responsibl

Resume of Accountant Preparation

Hi, I want Help for this Project. You was worked accountant in a company , and you looking to take this position ( CFO ) of a leading company in accounting. Write your Resume and Explaining in the following points: Please Write in 2 pages. R&S Educational Consultants Inc. Atlanta, USA

Modified Accelerated Cost Recovery System

In January 20XX, JIM, purchased $350,000 of new MACRS (Modified Accelerated Cost Recovery System) 5-year property in the United States. This equipment was placed in service May 1, 20XX. JIM wants to take as much depreciation in 20XX as possible. Calculate the depreciation for 20XX. If JIM had been located in a quali

Cost Volume Profit Analysis

PLEASE SEE ATTACHMENT! The Annie Smith Dance Center The Director of Annie Smith Dance Center is asking for assistance with the financial aspects of running a professional group of performers. She wants financial information presented in an easy to read format and a better understand of the profitability of the concerts and

Government and Nonprofit organizations accounting

Hi, I want Help for this question. Taking into account that the quotation of internet. Not more than 40% . If the ratio is greater than mentioned, it will be rejected . Writing all the references at the end. • Deliverable Length: 2 pages • Description: For your assignment, discuss when the government and nonprofit

Hierarchy of GAAP : Government Accounting

Hi, I want help for this question. Taking into account that the quotation of internet. Not more than 40% . If the ratio is greater than mentioned, it will be rejected . Writing all the references at the end. • Deliverable Length: 2 pages • Description: You recently landed your dream job working for the state

Explains why REA diagrams are not appropriate

Taking into account that the quotation of internet. Not more than 45% . If the ratio is greater than mentioned, it will be rejected . Writing all the references at the end. You are a staff accountant at a large firm and are assigned to work with the IT department to update the current systems throughout the organization. An a

ERP implementation

Hi , Please I want help. for this question ,Thanks. Taking into account that the quotation of internet. Not more than 45% . If the ratio is greater than mentioned, it will be rejected . Writing all the references at the end. 1- Discuss why an organization must expect the implementation of an ERP to disrupt operations.

Cash gap analysis

xcel spreadsheet help a. Read the article "Tweaking the Numbers," by Theo Callahan in the June 2001 issue of the Journal of Accountancy (either the print edition, likely available at your school's library, or access the Journal of Accountancy archives at Follow the instructions in the article to create a sprea

Tax Return Homework Help

Please see attached file. I need help figuring out that personal tax return did not include the partnership income. Here is the information for the tax return -- the return is attached. I just need help figuring out how to include the partnership income. Emma Shire lives at 5258 Mountain Skies Road, College Park, MD 20


Recent news stories have clearly established that there are increasing instances of cyber-crime that are plaguing major corporations and financial institutions. These crimes have taken many forms, such as: External parties infiltrating corporate IT systems to steal customer information Unauthorized parties stealing

Payroll Taxes and Bond Interest Journal Entries

E10-6 According to the accountant of Ulner Inc., its payroll taxes for the week were as follows: $198.40 for FICA taxes, $19.84 for federal unemployment taxes, and $133.92 for state unemployment taxes. Record accrual of payroll taxes. Instructions-- Journalize the entry to record the accrual of the payroll taxes. Payroll Tax

Breakeven, special order, make or buy, margin of safety: FWC

Break even analysis: The variable income statement presented below is based on estimated sales of 2,660,000 units. Variable costing Sales 34,580,000 Variable COGS 18,088,000 Variable selling 2,660,000 Contribution margin 13,832,000 Fixed selling

Accountants Statement of Ethical Professional Practice

Explain how the Institute of Management Accountants Statement of Ethical Professional Practice is related to moral philosophy, ethics, and character. How does this Statement serve as a "moral compass" to accountants? Further, how can one integrate these ethical standards into his/her daily life? 150 word count and a reference

Management of FWC: Overhead Cost Allocations

The management of FWC is concerned about overhead cost allocations. The Company has been using the plant-wide rate based on direct labor costs since it began operations. The CEO, J. B. Gogo, has decided to hire you as a consultant to evaluate overall overhead allocation system and prepare recommendations. He tells you that a num

Predetermined overhead

1. Calculate the predetermined overhead rate for 2013 and the amount of over/under applied overhead applicable to January. Overhead is applied based on direct labor costs. Assume that the actual overhead incurred in the month is $705,000. The Fabulous Widget Company has been producing a single product, called the computer

Interim Reporting

There are two schools of thought on interim reporting. The discrete view holds the interim report as a segment in history that stands on its own. The integral view holds the interim report as a segment or integral part of the annual report. Which school of thought do you think is correct? Why?

Market Interest Rates and Bond Values

If the market interest rate is 5% when Mackerel Corp. issues its bonds, will the bonds be prices at par, at premium, or at a discount? The 6% bonds issued when the market interest rate is 5% will be priced at {a discount, a premium, par (maturity) value}. They are {attractive, unattractive} in this market, so investors will pay

The significance of financial ratios by category

What is a ratio? How do ratios help alleviate the problem of size differences among firms? What do liquidity, long-term borrowing capacity, and profitability ratios measure? Name a group of users who might be interested in each category, and the reason why.

Calculating the Rate of Depreciation

Presented below is information related to LeBron James Manufacturing Corporation. Asset Cost Estimated Salvage Estimated Life (in years) A $ 40,500 $ 5,500 10 B 33,600 4,800 9 C 36,000 3,600 9 D 19,000 1,500 7 E 23,500 2,500 6 Compute the rate of depreciation per year to be applie

IFRS Adoption: Nigeria

Please help with the following issues, challenges and lessons with IFRS Adoption in Nigeria. I have provided some main points I will need to discuss. 4. Implementation of the plan a. Is there compliance i. What is the level of compliance at this point? ii. What are the plans to expand the implementation b. Proposals for

Make or Buy decision

The following information has been collected about the costs related to the systems: Selling price per unit $70 Production costs per unit Direct materials $22 Direct labor 16 Variable overhead 2 Total fixed overhead $360,000 Saguaro normally produces 25,000 of these systems per year. The managers are deciding whether

Income taxes journal entries

1- ABC. started business in January 2013, and purchased a machine for $100,000 (four-year expected useful life with no salvage value). ABC uses straight line depreciation for financial reporting purposes. For tax purposes, the deduction is 50% of cost in 2013, 30% in 2014 and 20% in 2015. Pretax accounting income for 2013 was $6

Contribution Margin and Absorption Income Statements

Prepare a contribution margin (behavioral, variable) income statement for Herrestad Company, compare net operating profit from a contribution margin income statement with net income from an absorption income statement, and explain why this difference happens. Prepare a second version assuming the selling price per unit increases

Rule-Based Ethics Standards

Should we have rules-based ethics standards? Why or why not? Should they tell you exactly what to do in specific ethical situations? Do you agree with the authors that a code of ethics should do more than establish minimum acceptable standards? Why or why not?