Share
Explore BrainMass

Accounting

Interest, Coupons & Bond Rates

Construct some simple examples to illustrate your answers to the following: a. If interest rates rise, bond prices rise or fall? b. If the bond yield is greater than the coupon, is the price of the bond greater or less than 100? c. If the price of a bond exceeds 100, is the yield greater or less than the coupon? d. Do high-c

Lottery Payout - Time Value of Money

If you were to win $1,000,000 in the state lottery and had a choice to either receive $50,000 a year for 20 years or $560,000 now, which would you choose and why? What factors would you need to consider?

2008 global financial crisis & fair value accounting standards

Fair Value Accounting: How the financial crisis of 2008 highlighted the issues The financial crisis of 2008 drew attention to fair-value accounting (FVA), creating a major policy debate involving the US Congress, the European Commission as well as banking and accounting regulators around the world. Critical review the lit

Responsibilities of an Accounts Receivable Clerk

How and where to secure revenue by verifying and posting receipts; resolving discrepancies? How to post daily cash receipts to owners accounts, preparing deposit tickets, reconciliations and billing?

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

Expected Tax Payable for a Project

Suppose the tax rate is 30% if taxable income Is positive and 0%, if taxable income is negative, Calculate the expected tax payable for the following four projects. Note that for each project the expected taxable income is $50,000. For each project, also calculate the expected average tax rate (expected total taxes divided by

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

Association of Government Accountants Common Red Flags List

The Association of Government Accountants has developed a chart that lists common risks, red flags, and tools/best practices that are associated with payroll flag. See the link below: http://www2.agacgfm.org/tools/FraudPrevention/PayrollSchemes.aspx What is this useful for? How can it be used?

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

Maintaining Internal Controls

50-100 words-Under SOX, management must establish and maintain an adequate internal controls structure. Do you think this specific requirement was put into place in order to protect the auditor or the client more?

Impact of COSO, SOX 404, SAS 112 and who benefits

Briefly (one paragraph), explain the value and significance of COSO, SOX section 404, SAS 112 and other legislation about the role of the accountant and auditor? Do the regulations you mention primarily protect the auditor or client?

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

Sampling Example and Sampling Technique

100 words Provide an example of a situation in which you would you use sampling, rather than examining the entire population. Include the following: the sampling technique you would use, the reason that you would use that type of sampling, and the methodology that you would use when conducting your sample.

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?