ACC 556 – Financial Accounting for Managers Chapter 1 Homework Due Week 1 and worth 10 points Directions: Answer the following four questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed‚ or both. Submit your homework assignment using the homework assignment link in the course shell. E1-1 Here is a list of words or phrases discussed in this chapter: 1. 2. 3. Corporation Creditor Accounts receivable 4. 5. 6. Partnership Stockholder
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There are a number strengths and weaknesses of the IAT and some strengths that stand out is clinical situations and job positions. I chose clinical situations because I believe it would allow for much quicker doctors visit if one was sick all they would need to do when checking in is to complete the assessment on what hurts the most‚ where is it located at‚ when does it start hurting‚ and how long is the reoccurring pain. This will allow for doctors to know exactly what is going on before even seeing
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SHANGRI-LA You are partner in charge of the audit of Shangri‑La‚ Inc. The company is a real estate developer‚ specializing in luxury vacation areas. The company’s operations have been profitable‚ although not spectacular. Most of the development property is pledged as collateral for bank loans; there is a reasonable stockholders’ equity of about $10‚000‚000. Shangri‑La has a substantial
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Chapter 1 Financial Accounting and Accounting Standards Intermediate Accounting‚ 15th Edition Kieso‚ Weygandt‚ and Warfield 1 Financial Statements and Financial Reporting • Goals or purpose of (financial) accounting – Identification‚ measurement‚ and communication of financial information about – An economic entity to – Interested Parties (internal and external) • Creditors‚ managers‚ unions‚ government agencies Financial reports (statements) & notes 2 Financial Statements
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professional conduct is clear that an accountant should follow all the six principles so that a healthy work environment could be created in the interest of the company‚ society and nation. The second discussion is focused on evaluation of ethicality of accounting activities. Manipulating the financial statements for personal interest or for loyalty towards company or its executives is unethical and the person responsible for such act will be punishable. Misstatement of financial statements is ethically wrong
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the war to continue were named “Hawks”‚ and those against it were named “Doves”. These groups defined how well the Vietnam War had an impact on society overall. However‚ because of the Vietnam War‚ America was able to advance and strive in many weaknesses‚ including politics. The war progressed the civil rights movement and made the U.S. think twice before entering further conflicts.
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Since the employees in Costco are paid well and have good benefits they actually work harder and feel proud to work in Costco‚ due to their ex CEO‚ Jim Sinegal who has since retired. He inculcated the value system that if you provide good jobs and good wages and a career‚ good things would happen. This is true in Costco’s case as it does have the lowest theft rate and lowest turnover rate of its employees as compared to other competitors. Due to these‚ the
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implications does the “new economy” have for accounting? Whether in an “old economy” business or a “new economy” business‚ accounting information is intrinsic in most business processes. All businesses must still capture‚ process‚ store‚ and report accounting and other information about business processes to assess performance. 2. Giving examples‚ discuss how information technology is revolutionizing the accounting function and what accountants do. Contrast accounting tasks before and after the “information
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There are three main weaknesses of the Loacker Quadratini wafer. Firstly‚ the price of the product is higher than the other wafers in the Australian market since the Loacker company Insist use the high-quality raw materials that from all over the world. For that reason‚ the materials may cost much money. On one hand‚ the high price may cause sales volume decreasing‚ on the other hand‚ it could guarantee the high quality. That is a huge weakness that cannot avoid‚ however‚ it also could represent
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Strengths and Weaknesses of Self-Report Inventories My personality type is INTJ. I have taken his test on a number of occasions throughout my life and my findings are the same. What strikes me as different was that the scores did not add up to a whole percentage of 100. By this result I had a very low percentile in thinking and low percentile in judging. This is strange because I’m a huge thinker‚ I also have anxiety which explains why I overthink many things and why I have no marginal preference
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