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    Financial Accounting & Bookkeeping

    Compensating budget

    Your hospital has billed charges of $4,000,000 in February. If your collection experience indicates that 20 percent is paid in the month billed, 40 percent in the second month, 20 percent in the third month, and 5 percent in the fourth month, determine the following values: a.) Net patient revenue for February b.) Collections

    Accounting for Governmental and Nonprofit Entities

    I need an operations guide on the following budget: Mesa County, Colorado - this one has lots of information broken into separate pdf files. The first pdf file shows the 2013-2013 adopted budget, with several other pdf files with additional information. http://www.mesacounty.us/finance/2012-2013Budget.aspx Answer the follo

    P5-2 Balance Sheet for Montoya Inc

    P5-2 (Balance Sheet Presentation) Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2014. Goodwill $125,000 Accumulated Depreciation - Equipment $292,000 Payroll Taxes Payable 177,591 Inventory 239,800 Bonds Payable 300,000 Rent Payable - Short

    Types of Accounting Services

    What are the three types of accountants and what services do they provide? What type of client would each accountant oversee?

    Accounting: Contribution and Product Margins

    47. Add or drop decision. The Ancome County Health Department is considering using 300 square feet of excess office space to provide a clinic for Healthchek visits. These visits are reimbursed at $67.30 under a Medicaid program. Variable costs per visits are $53.30, and providing the service requires an additional physician assi

    Accounting: Monthly Interest Rates

    Love Canal General Hospital wants to purchase a new blood analyzing device today. Its local bank is willing to lend it the money to buy the analyzer at a 3 percent monthly rate. The loan payments will start at the end of the month and will be $1,600 per month for the next eighteen months. What is the purchases price of the devic

    Accounting: Trade Credit Discounts

    Can someone please help me with these problems? Approximate Interest Rate = Discount % / (1-Discount %) x (365/Net period) Trade credit discount. Compute the annual approximate interest cost of not taking a discount using the following scenarios. What conclusion can be drawn from the calculations? a. 1/10 net 20 b. 1/10 ne

    Accounting Investment Projections

    1. K Inc is looking at setting up a new manufacturing plant in Chicago. The company bought land 6 years ago for $7million in anticipation of using it as a warehouse and distribution site, but the company has decided to rent facilities elsewhere. The land would net $9.8 million if It were sold today. The company now wants to b

    Cost Accounting: Budgeting, Financial and Managerial Accounting Differences

    You are thinking of starting your own business. You have some very innovative ideas about a new kind of manufactured product, but you are not sure if your business and financial savvy is adequate to launch your business alone. You know that successful start-ups require not only great innovative ideas but also a keen business sen

    Financial Accounting Students

    Seventy-five junior-level accounting majors that were enrolled in an Intermediate Financial Accounting class participated in this experiment. Students took a pretest on a topic not covered in class and then each was given a homework problem to solve on the same topic. A completely randomized design was employed, with students as

    Materials Cost Accounting

    Looking for a bit of help with these calculations in an Excel spreadsheet. The Malbim Company uses a process costing system. Materials are added at the beginning of the process. On July 1 there are 400 units in the beginning inventory that are 100% complete as to materials. With regard to labor and overhead, however, the unit

    Fund Accounting in Nonprofit Financial Accounting

    Being that you are an inquisitive person and wish to add to your knowledge base, you ask your new accountant to teach you about fund accounting that is used in nonprofit financial accounting. Specifically, you asked her the following: Explain how fund accounting principles for nonprofit organizations affect routine revenue ty

    Equity and Cost Methods in Accounting

    Complete the following exercise. Create an Excel spreadsheet provided via the link below to provide your answers to parts a and b. Then paste the Excel data into a Word document on which you can also write the answer to part c. Label each exercise or problem clearly. 2011 Jan 1 Investor Corporation purchased 8,000 share

    Financial accounting & tax accounting as separate

    1. What does it mean when we say that financial accounting and tax accounting are separate? 2. What are the implications? 3. How does this apply to the United States? 4. Should they be separate or the same?

    Accounting: Cost Management Budgeting Analysis

    A consulting firm produces a service that requires the use of labor and materials. Each unit of service requires a standard labor time of 30 minutes (0.5 hours). The average pay rate for a labor hour is £20. The consulting firm considers all materials that are required for the service as variable overheads (OH), the cost of wh

    What are the attributes of management accounting?

    If these are the attributes of financial accounting, what are the attributes of management accounting? What is management accounting used for? Do both types of accounting have to follow GAAP? Your tutorial is 183 words and gives examples of what management accountants do and how that differs from financial accounting.

    Cost accounting vs financial accounting

    The General Manager of a company has decided to employ a cost accountant. He has asked you, the financial controller, to write a memorandum to the members of the Board of Directors outlining why cost accounting is necessary, and how it differs from financial accounting.

    Relevance of Cost Accounting

    Discuss the relevance of cost accounting as it relates to the accounting profession in general. Relate to something you learned while working toward your accounting profession.

    How is managerial accounting different from financial accounting

    - How is managerial accounting different from financial accounting? - Comment on the different needs and use of financial information for internal purposes. - The managerial accounting profession and its role in today's business environment. How has it changed over time? - Comment on the Certified Management Accounta

    Financial Reporting: Accounting Intern

    You have an accounting intern on staff and have been asked to explain to her the following: 2-3 methods by which the governing bodies communicate the standards, requirements, and guidelines for the accounting profession At least 1 method must include some form of computer technology. At least 2 ways in which accounting soft

    Effects of Altering Cost Behavior in Cost Accounting

    Given the attached list of fixed, variable, and semi variable costs, please help me explore the possibility of altering the cost behavior of two cost components. I need to come up with a way to change a variable cost to a fixed cost, or a fixed to variable, semi to fixed. I need two examples. Please help me understand the pro

    Conservatism and Matching Principles in Financial Accounting

    Case 5-7: Matching Concept The accounting profession has employed the matching concept to determine what to report in the income statement and to determine how to measure items reported in the income statement and to determine how to measure items reported in the income statement. This concept implies that expenses should b

    Cost Accounting System: Financial Management

    Write 1,500- to 2000-words identifying the specific cost accounting system your organization utilizes (must be healthcare organization) and how it uses the accounting information for financial management. You must include the following: Descriptions of the cost accounting system used in your organization Pros and con

    Cost Accounting - Variance and Budgets

    Hello, Can you help with the below: In not less than 200 words and not exceeding 250 words for each question, submit logical answers to the following questions: 1. Discuss the relationship between variance analysis and management by exception. 2. What are the possible causes of material price variance and material effi

    Cost Accounting and Manufacturing Overhead

    1) Southwestern Company needs 1000 motors in its manufacture of automobiles. It can buy the motors from Jinx Motors for $1250 each. Southwestern's plant can manufacture the motors for the following costs per unit: Direct materials-$500 Direct manufacturing labor- $250 Variable manufacturing overhead- $200 Fixed manufac

    Cost accounting for small business

    Westin Watercrafts predetermined overhead rate for year 2011 is 200% of direct labor. Information on the company's production activities during May 2011 are as follows. a. Purchased raw materials on credit, $125,000. b. Paid $84,000 cash for factory wages. c. Paid $11,000 cash to a computer consultant to reprogram factor

    Financial Accounting Report

    This company makes a single product. The following information has been taken from the company's production, sales, and cost records for the month. Production in units 32,000 Sales in units ?? Beginning Finished Goods in Units 0 Ending Finished goods in units ?? Total Sales in dolla

    Funk Manufacturing Company: Cost Accounting

    Funk Manufacturing Company produces specially machined parts. The parts are produced in batches in one continuous manufacturing process. Each part is custom produced and requires special engineering design activity (based on customer specifications). Once the design is completed, the equipment can be set up for batch production.

    Cost flows in an accounting system

    Bama company showed the following balance in its inventory accounts as of Jan 1, 2004: raw materials inventory $10,000 work - in - process inventory $ 20,000 finished goods inventory $10,000 The following transaction took place during 2004: 1. manufacturing overhead cost of $96,000 were incurred and placed