Each operating entity (Georgia‚ Michigan‚ California‚ and China) each have their own Finance & Accounting Systems and they provide input that is consolidated at Corporate. The basic components of each system are as follows: general ledger‚ accounts payable‚ accounts receivable‚ order entry‚ procurement‚ sales and purchasing history‚ invoicing and shipping‚ payroll‚ financial reporting‚ EDI*‚ bar code reading*‚ EDSS (Executive Decision Support System)* *San Jose Only During the due diligence
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Sean Russi The Case of Phar-Mor Inc ACCT-525 October 31‚ 2012 Case Summary The case of Phar-Mor Inc was one of the biggest pre-Enron frauds that have been uncovered. Phar-Mor Inc established in 1982 Phar-Mor was a small little known discount drugstore. Phar-Mor became well known for offering medications at a 25-40% discount rate compared to your normal pharmacy store prices. Phar-Mor’s first six years of existence seemingly were
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Case Study Hy Dairies‚ INC.” The case study‚ “Hy Dairies‚ Inc.”‚ highlights an individual‚ Rochelle Beauport‚ whose career with the company seemed promising after a successful two quarters of increased sales of Hy’s gourmet ice cream. Syd Gilman‚ the vice president of marketing‚ was so impressed with Beauport’s effort and hard work that he decided to positively reinforce her achievement by offering her a position where he believed she would gain experience from higher profile work (Human Behavior
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1. According to this case study‚ Maalick encountered several different violations of the workplace. He was constantly being harassed by his coworkers‚ discriminated not only by coworkers but also by his supervisor. He was judged because of his religion‚ which clearly violates the Treton’s Anti-Discrimination and Harassment Policy. As mentioned in the case study‚ Maalick was receiving several series of notes from his coworkers‚ they basically labelled him as a Black witch or wizard because of his
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CHAPTER 1 FINANCIAL ACCOUNTING AND ACCOUNTING STANDARDS Multiple Choice—Conceptual Answer No. Description d 1. Users of financial reports. d 2. Identify the major financial statements. a 3. Financial reporting entity. d 4. Efficient use of resources. d 5. Capital allocation process. c 6. Financial statement information. c 7. Objectives of financial reporting. b 8. Common set of standards and procedures. c 9. Role of SEC. c 10. Powers of the SEC. d 11. SEC enforcement
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Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
Free Accountancy Accountant Leonardo da Vinci
transfer ownership and raise funds‚ no personal liability BE 1-2 1. Trying to determine whether the company complied with tax laws. (E) Internal Revenue Service 2. Trying to determine whether the company can pay its obligations. (C) Creditors 3. Trying to determine whether an advertising proposal will be cost-effective. (B) Marketing Manager 4. Trying to determine whether the company’s net income will result in a stock price increase. (A) Investors in common stock 5. Trying to determine whether
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Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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According to Ex.1‚ and Appendix 1(a)‚ we know that in 2008‚ Old Mule Farms breakeven point is 74 which mean they should at least sell 74 calves to balance their revenue and cost. Right now they only have 50 cows so only can produce 50 calves; they need 24 more cows to be profitable. Under current conditions‚ they can’t support any more cows. 1
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To Mr. Morrissey: At the beginning‚ we great appreciate you to trust us to do this research for your business case. After analyzing the background and information you offered to our company‚ we did a large number of researches in your specific two products and the industry. At present‚ the quantitative production and demand of the wood stove are shrinking in the market because of the drastic competitive marketing. Otherwise‚ the marketing of owner is not significant in competition. Therefore‚ we
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