ACC/490 Week 2 individual assignment Chapter 1: Comprehensive Question 1-23 (Organizations associated with the public accounting profession) Several private and public sector organizations are associated with the profession. Listed below are activities pertaining to these organizations. 1. License individuals to practice as CPAs. State Boards of Accountancy 3. Issue Statements on Auditing Standards. Auditing Standards Board (ASB) 4. Regulate the distribution and trading of securities
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Course Project Part II Introduction You will assume that you still work as a financial analyst for AirJet Best Parts‚ Inc. The company is considering a capital investment in a new machine and you are in charge of making a recommendation on the purchase based on (1) a given rate of return of 15% (Task 4) and (2) the firm’s cost of capital (Task 5). Task 4. Capital Budgeting for a New Machine A few months have now passed and AirJet Best Parts‚ Inc. is considering the purchase on a new machine
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Assignment Week 6 Jacqueline Guyton HSM 210 February 16‚ 2014 Teressa Jones Secondary prevention is applicable to the issue of homelessness‚ according to Goodstein
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57‚500 | Total costs | 1‚434‚000 | | 203‚980 | 1‚637‚980 | Operating profit (loss) | $ 66‚000 | | $ (3‚980) | $ 62‚020 | Technically‚ the new contract reduces profit of the company by $3‚980. By itself‚ this one-year contract appears not to be worth the effort of hiring and training new‚ part-time consultants. c. Other considerations include (1) whether this will
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000 Common fixed expenses totaled $314‚000 and were allocated as follows: $129‚000 to the Fibers business segment and $185‚000 to the Feedstocks business segment. Required: Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts. Student Answer: Fibers Feedstock Total Sales Revenue 870‚000 820‚000 1‚690‚000 Less:variable ex 426‚000 344‚000 770‚000 Contribution mar 444‚000 476‚000 920‚000 Fixed Cost: Less traceable 148‚000 156
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Contemporary Auditing Chapter 5 – Comprehensive Question 5-30 (Assertions) In planning the audit of a client’s financial statements‚ an auditor identified the following issues that need audit attention. Please only write in the associated assertion 1. Valuation or allocation 2. Completeness 3. Existence and occurence 4. Completeness 5. Rights and obligations 6. Completeness 7. Valuation and allocation 8. Existence and occurence 9. Presentation and disclosure 10. Valuation or allocation
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8.67% e. 7.89% 5. Johnson ’s preferred stock pays a dividend of $1.25 per quarter‚ and it sells for $60.00 per share. What is its effective annual (not nominal) rate of return? a. 8.32% b. 6.82% c. 7.03% d. 8.60% e. 7.47% 6. Bankston Corporation forecasts that if all of its existing financial policies are followed‚ its proposed capital budget would be so large that it would have to issue new common stock. Since new stock has a higher cost than retained earnings‚ Bankston
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Week 1‚ DQ 1: How would you describe the entries to record the disposition of accounts receivables? What is their function? Since the majority of US thrive on the use of credit cards‚ the accounts receivables for a company may no longer be on a cash-to-cash basis. A company may need to sell these accounts to other companies who specialize in handling accounts receivables if they need cash more quickly or if it would be too costly to perform the necessary billing to collect on the account. The
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Week 5 Assignment What is the correct relationship of internal audit to senior management? The correct relationship to exist between internal auditors to senior management is one that meets the risk areas as defined by importance to senior management; this includes assurance and consultative reporting result. The same premise is also true for creating a correct relationship with operational management and the audit committee; under these cases‚ operational management desires consultative results
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words 1) Rodney Brick is completing a Master of Accounting part-time and has taken on a role as an auditing assistant with an audit/accounting firm and his first job is to assist with auditing the books of Daffey Jones Ltd‚ a major retailer. Whilst undertaking the audit‚ Rodney comes across certain financial information that he believes will assist him in completing one of the auditing assignments he is currently working on so he copies the information and uses it in the assignment‚ although
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