technology that supports that information‚ represents some of the most valuable assets for organizations around the world. Very often‚ the success of a business depends on effective creation‚ management‚ and use of information. As companies become ever more reliant on technology‚ the need for welleducated Management Information Systems (MIS) auditors and control professionals increases. Improved technology has the potential to dramatically improve business organizations and practices‚ reduce costs and
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ATENEO DE DAVAO UNIVERSITY E. Jacinto St.‚ Davao City A Quantitative Study of The Effects of Industry Characteristics on The Working Capital Management Using the Cash Conversion Cycle as The Measure: The Case of The Thirty Largest and Most Active Listed Stocks in the Philippine Stock Exchange Methods of Financial Research Fin 410 TTH 1:00- 2:30 PM Submitted to: Mrs. Marietta Eliot Pampanga Submitted by: Princess Kiezel M. Sultan June 30‚ 2011 I. INTRODUCTION A. Problem
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then had an agreement with other companies or third party garages to send them the shipments at no cost‚ until the shipments were sold and at no risk to that third party. After the shipments left the warehouse‚ ClearOne would list the revenue as a receivable on the transaction. ClearOne continued to do this at the end of every quarter‚ which conflicts with the GAAP principles. 2. The SEC alleges that by the end of fiscal 2002‚ ClearOne had stuffed inventory costing approximately $11.5 million into
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responsibility for the information reported by a company rests with A) the Internal Revenue Service. B) the company’s auditors. C) the local city council. D) the sales clerk supervisor. E) the company’s management. Answer: E 2. The qualitative characteristic that says accounting information can influence users’ decisions is A) comparability. B) materiality. C) reliability. D) relevance. E)
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is the lifeblood and nerve system of any business organization. Just as circulation of blood is necessary in the human body to maintain life finance is very essential to the business organization for smooth running of the business. Financial management involves managerial activities concerned with the acquisition of fund and the business purpose. The finance function does with procurement of money taking into consideration of today as well as future need and finance is required to purchase a machinery
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invoice is sent to the customer and the others are retained by the seller. Credit Memo- The credit memo is a document which will indicate a reduction in the amount due from a customer due to returned goods or any allowances given. It reduces the accounts receivable rather than increasing it. Remittance Advice- Is a document mailed to the customer and returned to the seller at the time of cash payment. It has the customer name‚ invoice number‚ and invoice amount. Monthly Statement to Customer- A monthly
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quantities‚ prices‚ extensions and footing‚ and freight allowances and checked with customers’ orders? Yes. Accounts receivable clerk 13. Is there an overall check for errors in arithmetic accuracy of period sales data by a statistical or product-line analysis? Yes. Marketing vice president 14. Are periodic sales data reported directly to general ledger accounting independent of accounts receivable accounting? No.
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The Laramie account is a big account. It is a big account because this is the first time they are having a full-scale audit of their financial statements and they are planning to go public and become an initial public offering (IPO). Since this is our first time this is happening we have to very careful with the analytical procedures. Analytical procedures are reasonableness test auditors compare their estimates of account balances with those recorded by management. Analytical procedures must be
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16-5 16-1 Cash Management Current Inventory = Sales/Current Inventory Turnover Ratio X = $10‚000‚000 / 2 = $5‚000‚000 in Current Inventory New Inventory = Sales/New Inventory Ratio X = $10‚000‚000 / 5 = $2‚000‚000 in New Inventory $5‚000‚000 – 2‚000‚000 = $3‚000‚000 The company will free up $3 million in free cash flow. 16-2 Receivables Investment Receivables = (DSO) * (Average Daily Sales) X = (17 days) ($3‚500) X = $59‚500 is the average accounts receivable 16-3 Cost of
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LITERATURE REVIEW In intention to discover the relationship between efficient working capital management and firm’s profitability(Shin & Soenen‚ 1998) used net-trade cycle (NTC) as a measure of working capital management. NTC is basically equal to the CCC whereby all three components are expressed as a percentage of sales. The reason by using NTC because it can be an easy device to estimate for additional financing needs with regard to working capital expressed as a function of the projected sales
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