Chapter 5- GLOBAL COMPANY PROFILE: Regal Marine world’s 3rd largest boat manufacturer; Regal uses CAD computer aided design; Regal uses JIT inventory to deliver parts as needed. GOODS & SERVICES SELECTION: The good or service provided is basis for an organization’s existence and the key to success; To maximize success‚ companies focus and concentrate on few products; Companies must look constantly for new products to design; Product Decision- to develop‚ implement a product strategy that meets
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ISSUES IN ACCOUNTING EDUCATION Vol. 18‚ No. 2 May 2003 pp. 137ñ173 The Tallahassee BeanCounters: A Problem-Based Learning Case in Forensic Auditing Cindy Durtschi ABSTRACT: You are auditing the books of the Tallahassee BeanCounters (TBC)‚ a minor league baseball team in Tallahassee‚ Florida. During your audit the teamís owner‚ Franklin Kennedy‚ approaches you and offers an additional fee if you will quietly investigate the possibility of fraud within the firm. Mr. Kennedy reports that he received
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patients. This practice is common and is not illegal. However‚ when the doctor agrees to prescribe a particular medication or refer a particular specialist doctor and in exchange for a return‚ this is where the illegal process begins. In the Amgen 2009 case‚ the biotech company offered kickback to medical providers to boost sales. Pharmaceutical representatives influenced physicians to bill Medicaid for the anemia drug Aranesp‚ which were given free. The company made a profit of $15 million from the top-selling
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energy drink‚ Xonic Tonic (XT). The standard direct materials price per pound is $3.00 (which includes cost of the direct material‚ the freight cost and the cost of receiving and handling); The standard direct materials quantity per gallon of XT is 4 pounds (this takes into account the waste‚ and spoilage). The standard direct labor rate per hour is $15 (including: hourly wage rate‚ payroll taxes and fringe benefits); the standard direct labor hours per gallon of XT is 2 hours; Xonic Tonic company
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effects of prepayments and adjustments resulting from defects in eligibility of the transferred receivables. (FASB ASC 860-10-20) 3) Collateral: “Personal or real property in which a security interest has been given” (FASB ASC 860-10-20). 4) Transferee: “An entity that receives a financial asset‚ an interest in a financial asset‚ or a group of financial assets from a transferor” (FASB ASC 860-10-20). 5) Transferor: “An entity that transfers a financial asset‚ an interest in a financial
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being depreciated over a period of 40 years (480 months). 3. On the first of each month‚ the theater pays the interest which accrued in the prior month on its note payable. At July 31‚ accrued interest payable on this note amounts to $1‚583. 4. The theater allows local nursing homes to bring seniors to the movies on any weekday afternoon for a fixed price of $400 per month. On June 30‚ the nursing home made a $1‚200 advance
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Table of Contents 1.0 ABOUT THE CASE 1 2.0 SIGNIFICANCE OF THE CASE 1 3.0 CASE SOLUTIONS & ANALYSIS 1 1.0 ABOUT THE CASE 2.0 ISSUES OF THE CASE 3.0 CASE SOLUTIONS & ANALYSIS 1) What are the strengths and weakness of the system that Mr. Sponza developed for the control repair facility? Strengths a) By changing eight department they called shops as a “Profit Center” change the work attitudes of the workers. Since they’re now profit oriented‚ their productivity increase thus
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accounting standards accounting standards Introduction to Accounting Standards Accounting is the art of recording transactions in the best manner possible. Accounting Standards are the policy documents issued by recognized expert accountancy bodies relating to various aspects of measurement‚ treatment and disclosure of accounting transactions and events. Every country has its own standards. Accounting Standards in India are issued by the Institute of Chartered Accountants of India (ICAI)
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(classified as available-for-sale) costing $121‚000 were sold for $155‚000. 2. The company paid a cash dividend on February 1‚ 2011. 3. Accounts receivable of $16‚200 and $19‚400 were considered uncollectible and written off in 2011 and 2010‚ respectively. 4. Major repairs of $33‚000 to the equipment were debited to the Accumulated Depreciation account during the year. No assets were retired during 2011. 5. The wholly owned subsidiary reported a net loss for the year of $20‚000. The loss was recorded by
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loss of $66‚046 resulting from the write-off of some obsolete equipment. The equipment had not yet been disposed of. 3. Net income included $59‚610 from Amerbran’s investment in a subsidiary; none of this income had been received in cash. 4. The year-end balance in Deferred Income Taxes was $17‚548 lower than it was at the start of the year. 5. New property‚ plant‚ and equipment purchases totaled $260‚075‚ all paid for with cash. Disposals of fixed assets generated $33‚162 cash proceeds
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