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Accounting

Permitted Disparity

The Code's "integration" or "permitted disparity" rules permit an employer's allocation or benefit accrual formula to provide a lower rate for a participant's compensation at or in excess of Social Security's maximum taxable wage base than for compensation below this maximum taxable wage base. Why? What does this mean for the em

Accounting conversation

The following is an excerpt from a conversation between two employees of Linquest Technologies, Don Corbet and Rita Shevlin. Don is the accounts payable clerk, and Rita is the cashier. Don: Rita, could I get your opinion on something? Rita: Sure, Don. Don: Do you know Margaret, the fixed assets clerk? Rita: I know wh

Accounting Systems and Financial Reporting

1. What is XBRL? How will it effect financial reporting? Please Explain. 2. What are the main types of accounting software used in a restaurant setting or organization? What are the benefits and limitations of this software? Please Explain. 3. What are some of the hardware components of the PC at work? How are they differe

new lease accounting rules

Provide an article summary on the following article http://www.areadevelopment.com/AssetManagement/jan2011/new-lease-accounting-paradigm54993.shtml

Calculating Return of Investment

Raddington Industries produces tool-and-die machinery for various manufacturers. Two years ago, the company expanded vertically by acquiring Regis Steel Company, one of its suppliers of alloy steel plates. In order to manage the two separate businesses, the operations of Regis Steel are reported separately as an investment cente

Fringe Benefits

Why are fringe benefits provided by employers to employees more valuable to those employees than if the employer simply gave the employees the money necessary to purchase those fringe benefits?

Cafeteria Plans

How do Cafeteria Plans benefit employers? How do they benefit employees? Please answer questions and provide supporting resources.

Purpose of Six Principles in the AICPA's CPC

What are the 6 principles in the AICPA's CPC and the purpose of each principle? Can you also please help me find three companies of codes of conduct of major public U.S. companies?

Wyco Company

Wyco Company manufactures toasters. For the first 8 months of 2011, the company reported the following operating results while operating at 75% of plant capacity. Sales (400,000 units) $4,000,000 Cost of goods sold $2,400,000 Gross profit $1,600,000 Operating expenses $900,000 Net income $700

Braemar Saddlery: Under and Over Applied Overhead

Braemar Saddlery uses department budgets and performance reports in planning and controlling its manufacturing operations. The following annual performance report for the custom saddle production department was presented to the president of the company: Budgeted Costs for 5,000 Units Per Unit (see attached for better form

Technology and Accounting

1. Why would an organization want to integrate its IS functions? Please explain 2. How do information systems increase the efficiency and effectiveness of business processes in accounting functions? Please explain 3. What are the advantages and disadvantages of using real time versus batch accounting information architectu

Corporation Tax: Warner Corporation

The Warner Corporation has a gross income of $560,000. It has business expenses of $325,000, a capital loss of $20,000 and $2,500 of interest income on temporary investments. What is the corporation's taxable income?

Using target costing to fix pricing problems

The following conversation took place between Dean Lancaster, vice president of marketing, and Dina Conaway, controller of Redwood Computer Company: Dean: I am really excited about our new computer coming out. I think it will be a real market success. Dina: I'm really glad you think so. I know that our success will be de

Case Study: Moss and McAdams Accounting Firm

Please See Attachment For Case Study 1. If you were Palmer at the end of the case, how would you respond? 2. What, if anything, could Palmer have done to avoid losing Olds? 3. What advantages and disadvantages of a matrix type organization are apparent from this case? 4. What could the management at M&M do to more effe

Discuss accounting techniques as related to the profession

Discuss accounting techniques in general as they relate to the profession. Some things to discuss are the different accounting roles and positions that are out there and how you see yourself fitting into those roles based on what you have learned over the past couple of years.

Unrelated Business Income Tax

Your client is a nongovernmental not-for-profit museum that operates a gift shop. Explain the unrelated business income tax to your client and suggest ways to avoid this tax.

Product Omega and the Western Company

QUESTION 1. Each unit of Product Omega requires 3 kgs of raw material. Next month's production budget for product Omega is as follows: Opening stocks: Raw materials 15,000 kgs. Finished units of Omega 3,000 units Budgeted sales of Omega 60,000 units Planned closing stocks Raw

Homeowner Interest Tax Credit: pros and cons

One specific tax deduction being discussed is the elimination of the homeowner interest tax credit. This proposal is strongly rejected by the National Association of Home Builders (NAHB). What are the pros and cons of this tax credit? Why is this issue of any interest to the NAHB?

Oracle Functional Consultant

Discuss the more 'hands on' day to day details of your experience as an Oracle Functional Consultant. You should be prepared to give examples of everyday work situations in addition to providing specific details around skills, tools, work strategies, technologies, processes, team lead and project management experience as applica

FASB and IASB current convergence

Explain the relationship between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). References to be used: 1. http://www.journalofaccountancy.com/news/20125579.htm 2. http://www.accountingtoday.com/news/FASB-Revises-Proposed-Changes-Financial-Instruments-Accounting-Sta

A Discussion On Accounting Principles

1) Receiving a cash dividend from an available-for-sale investment requires the following journal entry: A) a debit to Cash and a credit to Dividend Revenue. B) a debit to Cash and a credit to Unrealized Gain on Investments. C) a debit to Unrealized Gain on Investment and a credit to Dividend Revenue. D) no journal entry. In

Operating Income impact

Require assistance in calculating operating income impacts. The following product line information is for the Home Deal Company. The company is considering dropping its Children's product line due to poor operating income performance. Fixed expenses are allocated to each product line based on sales revenue. ...............

Paint Moore LLC

Paint More LLC has organized a new division to manufacture and sell specialty paint. The division's monthly costs are shown below: Manufacturing costs: Variable costs per unit: Direct materials $12 Variable manufacturing overhead $1 Fixed manufacturing overhead costs (total) $100,000 Selling and administrative costs:

Relevance of accounting in the business environment

Think about some of the topics that were covered in Intermediate Accounting, such as depreciation and amortization, inventory accounting, and elements of financial statements. Discuss the relevance of these various items as they apply to the business environment.