LBJ Company: Internal Control Evaluation Accounting 504: Managerial Use & Analysis Case Study 2 Written by: 8/10/13 This evaluation is being presented as an assessment of the preparedness of the LJB Company to go public at a future date. By researching current regulations regarding publicly traded firms we hope to prepare for a smooth transition into the trading market. The Sarbanes-Oxley Act of 2002 (SOX) has established the following guidelines
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Tom Emory and Jim Morris strolled back to their plant from the administrative offices of the Ferguson & Son Mfg. Company. Tom is the manger of the machine shop in the company’s factory. Jim is the manager of the equipment maintenance department. The men had just attended the monthly performance evaluation meeting for plant department heads. These meetings had been held on the third Tuesday of each month since Robert Ferguson‚ Jr.‚ the president’s son‚ had become the plant manager a year earlier.
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Ethics in Public Administration: Week 2 Assignment Case Study 1 Isabel Carter PADM505 October 19‚ 2014 Kennedy Maranga Dennis the city Manager is working late and he catches his new Budget Director Susan in a compromising situation with the Assistant City Manager. The employee policy prohibits this type of behavior between their employees. According to the City Code of Ethics this type of behavior is unacceptable and calls for dismissal. Ethics is not the act of controlling co-workers behavior
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ACCT 2060 Introductory Accounting Assignment - Semester 1‚ 2012 Part A Question 1 In the course of the financial year‚ Blackmores’ principal operating activities focused on the development and marketing of natural health products such as vitamins‚ herbal and mineral nutritional supplements. They sell and have operations in the natural health and dietary market throughout Australia‚ New Zealand and Asia region. (Reference: Blackmores’ Annual Report 2011‚ Pg. 37) Question 2 Mr Marcus C. Blackmore
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000 Pg. 60 DR…. To the Left CR…. To the Right Pg. 62 Current Ratio (#) = Current Assets Current Liabilities Pg. 69 More stringent test of liquidity Net Working Capital ($)= Current Assets – Current Liabilities Pg. 69 Expense Accts Equity Accounts CR Normal DR FSET Template-Balance Sheet Transaction 522 Net Income Dividends Measures Solvency (Ability to avoid bankruptcy) >1 is more risky
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ACCT505 Part B Capital Budgeting problem Clark Paints Data: Cost of new equipment $200‚000 Expected life of equipment in years 5 yrs Disposal value in 5 years $40‚000 Life production - number of cans 5‚500‚000 Annual production or purchase needs $1‚100‚000 Initial training costs Number of workers needed 3 Annual hours to be worked per employee 2000 hrs Earnings
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Case Study I Solution The following cost items are needed before a schedule of cost of goods manufactured can be prepared: Materials used in production: Prime Costs $545‚000.00 Less Direct Labor Cost $220‚000.00 Direct Materials Cost $325‚000.00 Manufacturing Overhead Cost: Direct Labor Cost/ Percentage of Conversion Cost: rounded to nearest dollar ( this is total
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P6-3. Identifying components of earnings Requirement 1: a) Permanent earnings is the reported earnings component that is value-relevant. Permanent earnings are those earnings that are expected to continue into the future. This component roughly corresponds to income from continuing operations as reported in the income statement. b) Transitory earnings is the earnings component that is value-relevant‚ but not expected to persist into the future. This component roughly corresponds
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Exam 2 Ch 6 p 26. If you invest $50‚000 to earn 8% interest‚ which of the following compounding approaches would return the lowest amount after one year? (you aren’t earning interest on interest) a. Daily. b. Monthly. c. Quarterly. d. Annually. p41. An amount is deposited for eight years at 8%. If compounding occurs quarterly‚ then the table value is found at (adjust rate and number of periods!) a. 8% for eight periods. b. 2% for eight periods. c. 8%
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ACCT1501 Practice Exam Questions 2014S1 QUESTION 1 (8 Marks) Financial Reporting Principles‚ Accounting Standards and Auditing‚ & Sustainability Reporting Provide short answers to the following: 1. What are generally accepted accounting principles? (2 Marks) 2. If you have a good idea and expect to make a lot of money from the idea is that a sufficient reason to recognise an asset? Explain why or why not. (2 Marks) 1 ACCT1501 Practice Exam Questions 2014S1 3. How can financial
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