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Accounting

Responsibilities of an Accounting Clerk

At an Accounting Clerk I job how and where to prepare work to be processed by gathering, sorting, and organizing data and documents? How and where to accurately and timely enter Accounts payable data(invoices,credits,payments) into accounting system after verifying validity and accuracy? How and where to compare vendor sta

Smackey Dog Food: Audit by Keller CPA

Q1: Discuss the essential activities involved in the initial planning of an audit. How do these all specifically apply to the Smackey Dog Food client? Keep in mind that we need a certified audit of all financial statements for the year but did not audit the company the prior year. Q2: Discuss the 4 stages (p162-163) text) of

Financial Accounting Standards Board Codification

See attached for full description 1. Identify whether the analysis of expenses in profit or loss is presented by nature or function. 2. Identify the alternative performance (operating) measures presented in the statement of comprehensive income and document conclusions with regard to the appropriateness of the various pe

Asset allocation

How do I arrived at the various answers for these recommendations and questions on investments for James O'Hara, an ABC client, is a single, 37-year-old, self-employed plastic surgeon who currently owns a condominium in Tiburon, CA, worth $1.4 million. James is doing quite well financially. His gross income from his practice las

Amazon Risks and Controls and Ethical Behavior

TOPIC 1 What kinds of risks does a firm like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks? Go to the firm's website and click on "Investor Relations". You'll be able to find the firm's annual report to help you answer these questio

CPA vision project: "move up value chain" and types of audit opinion

Please visit website http://www.aicpa.org for research help explain the CPA Vision Project in a paragraph. What is meant by "moving up the economic value chain," and how are CPAs going to accomplish this? Audit report search: Many companies publish their annual reports on their website, usually in an "Investor Relations"

Absorption Costing Article Summary

I need to summarize and comment on the below article, regarding absorption costing: Maskell, B. (2013). ABSORPTION COSTING IS THE ENEMY OF LEAN. CHRYSLER AND GM PROVED IT IN 2008. Blog posted Jan 30. Retrieved April 30, 2014 from http://blog.maskell.com/?p=559.

Payroll Fraud: Internal Controls

Payroll fraud is a type of fraud that's not very difficult to find, if there are controls in place. What often happens, however, is that the payroll clerk is well respected and trusted and allowed free reign. The individual in charge of payroll at my ex-husband's former place of employment was fired because of payroll fraud. She

Aslan County Journal Entries

Aslan County purchased $3,000,000 of bonds as a General Fund investment on March 1, 20X7, for $3,060,000 plus four months accrued interest of $80,000. The bonds mature in four years and two months. 1. The county received the semiannual interest payment on the bonds ($120,000) on April 30, 20X7. 2. The county received the

Unecesaary Technological Changes

Technological changes could have helped in this case. As technology continues to develop and evolve, companies must strengthen their controls. My agency recently had several IT-related upgrades. We have to change our passwords every 45 days, there are very strict procedures for accessing the network offsite, the cleaning staf

Current Ratio Explained

In detail, please describe the following: What is the current ratio? What does the current ratio measure? What are reasons for using the current ratio analysis?

Stanley Printing Company: Journal entries and Work in Process Inventory account

Stanley Printing Company began operation in March with three custom orders. The following costs were incurred during the month. Direct Materials: Direct Labor: Job A1 $950 Job A1 $ 2,450 Job A2 750 Job A2 1,950 Job A3 500 Job A3 900 Manufacturing Overhead: Applied at the rate of 110% of direct labor dollars Actual Manu

Footnote analysis amortization interest segments: Disney

1. As illustrated in exhibit 10-10, Interband estimates the value of the Disney brand name in 2009 at $28.45 billion. Search Disney's financial statements and notes--what is Disney's estimate of the value of the Disney name? 2. What summary journal entry did Disney make to record interest incurred during fiscal 2009? (Hint: Don

Delilah receives a proportionate, nonliquidating distribution from the

Question 1 1. 1. Delilah receives a proportionate, nonliquidating distribution from the Carbon Partnership. The distribution consists of $50,000 cash and property with an adjusted basis to the partnership of $150,000 and a fair market value of $180,000. Immediately before the distribution, Delilah's adjusted basis for her

FIFO Cost Accounting

In November 2013, Lamb Co. computed its equivalent unit costs under FIFO process costing as follows: Direct Material $29.50 Packaging 3.00 Direct labor 10.84 Overhead 7.68 Direct material and packaging are added at the start and end of processing, respectively. Beginning inventory cost was $1,026,810 and cons

India Financial Market and Economic Outlook for 2014

Looking for assistance getting started. For the selected emerging market--India. Discuss the economy, financial markets and the means they currently use to attract direct foreign investment. Conduct an analysis of what they are doing right/wrong in their financial markets and whether you recommend investment there shou

Victoria Hair Salon - Throughout Contribution

Throughput contribution. Victoria Hair Salon styles hair in three operations—washing, cutting/setting, and drying—and charges $25 per styling. (Each styling is one "unit.") Victoria styles hair on a walk-in basis and does not take appointments; customers who face a wait walk across the street to another salon. Victoria's

IT Support Services and Seasonal Trends

Why and which seasonal period(s) might an IT support services system (help desk) need to be aware of? Limit yourself to one type of seasonal period that applies.

Helpdesk question

Why is it good or bad to operate an IT support services system (help desk) on a strictly, first-come, first-served basis?

Accting

1. The requirement of consolidated financial statements for parent and subsidiary companies has become a controversial issue in the field of international accounting. U.S. GAAP requires parent and subsidiary companies to report their information on a consolidated basis. However, under IAS 27 Consolidated and Separate Financial S

Fair Value Interest Rates

1. On January 1, 2011, Mason Manufacturing borrows $500,000 and uses the money to purchase corporate bonds for investment purposes. Interest rates were quite volatile that year and so were the fair values of Mason's bond investment (an asset) and loan (a liability): Fair Value 2011 Bond Investment Loa

Global Business Management

Your firm is considering to open a new factory via direct investment in Latin America and management is evaluating the specific country locations for this project. The pool of candidate countries has been narrowed to Honduras, Chile, and Mexico. Discuss the national differences in political economy between these three cou

overhead cost

4-19: Predetermined Overhead Rate; Applying Overhead; Underapplied or Overapplied Overhead Reston Company uses a job-order costing system. The company applies overhead cost to jobs on the basis of machine hours. For the current year, the company estimated that it would work 36,000 machine-hours and incurs $153,000 in manufac

Accounting for Contract using Percentage of Completion Method

Questions: Chicago contractors got  $5,400,000 contract to construct a school building for the City of Chicago. Work on this contract began in 2013 and the financial data pertaining to this contract is available here. Cost incurred till Dec.31, 2013                      $1,080,000 Billings made to Cit

The Dangerous Morality of Managing Earnings: 5 generalizations

After reading case , "The Dangerous Morality of Managing Earnings" I need help addressing the following elements: Discussion of the five generalizations from the findings in this study relating to managing earnings. Discussion of management's ability to manage earnings in the long-term given the operational manipulations dis

Securitization and Accounts Receivable

Securitization Kendall Corporation designs and manufactures sports cars. During the course of its business, Kendall generates substantial receivables from its customers. On July 1, 2011, to improve its cash flow, Kendall establishes a securitization entity (SE) and (1) transfers wit out recourse $20.5 million of its receiva

Aging Accounts Receivable & Imputed Interest

On December 31, 2011, Vale Company had an unadjusted credit balance of $1,000 in its Allowance for uncollectible accounts. An analysis of Vale's trade accounts receivable at that date revealed the following: Estimated Age Amount Uncollectible 0 - 30 days $60,000 5% 31 - 60 days 4,999

Journal entries for bad debts

1.) Journalize the following transaction using the direct write-off method of accounting for uncollectible receivables. July 01 Received $1,500 from Jane Zeeba in partial payment of the amount owed. The remaining balance of $3,500 was written off as uncollectible. Oct 15 Reinstated the account of Jane Zeeba and r