Computers in accounting Uses and advantages and disadvantages of computers in accounting Traditionally accounts were kept by the means of handwritten record. Computers have only begun to be used in some of the functions of accounting over the last fifteen years or so. As computers became cheaper‚ easier to use‚ and more powerful‚ more firms have decided to computerise their own accounting records. However‚ some firms‚ (albeit a declining number) still prefer to use handwritten accountings. This
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I. BACKGROUND Staples Inc. founded in 1985 by Thomas G. Stemberg and Leo Kahn in Brighton‚ Massachussets. It is headquartered in Boston and employs 89‚000 employees worldwide. Staples sells office supplies at more than 2‚000 stores as well as through its catalog and call centers‚ the internet site‚ and contract sales force. In additional to typical office supplies‚ stores offer computer hardware and software‚ furniture‚ art and school supplies and printing and copy services ( Staples 10k‚ 2012)
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Equity method 1. ac title named “Investment in associate” 2. Cost‚ it initially recognized at cost 3. Post acq P&L‚ the carrying amount is increased or decreased to recognize the investor’s share of the P&L of the investee after the date of acq 4. Dividend received‚ distributions received from an investee reduce the carrying amount of the investment ___ Capital Reorganization When an entity is faced with financial crisis‚ the capital reorganization scheme may be the possible alternative to liquidation
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consumable goods. B) capital goods. C) tangible goods. D) depreciation goods. Answer: B 2) In the capital market‚ households ________ supply the financial resources to firms that allow them to purchase ________. A) indirectly; capital B) directly; capital C) indirectly; land D) indirectly; labor Answer: A 3) Firms that offer to pay for college tuition for their employees are investing in ________ capital. A) tangible B)
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Case summary: MRC‚ Inc. is a Cleveland based manufacturing company specialized in power brake systems for trucks‚ buses‚ and automobiles; industrial furnaces and heat treating equipment; and automobile‚ truck and bus frames. As till 1957 most of MRC’s sales were made to less than a dozen large companies in the automotive industry‚ it was exposed to the risk inherent in selling to a few customers in a very cyclical and competitive market. To minimize the risk and to explore new business opportunity
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Chemalite‚ Inc. Bennett Alexander has invented a glow light using a series of chemicals into a contraption he calls Chemalites. He starts up his business by getting $500‚000 from investors and he tries to put his invention on the market. But by the end of 2003‚ with operations in full swing for a good six months‚ Chemalite‚ Inc. is seeing its cash balance drop tremendously‚ which Alexander and his investors view as a negative. Even though they thought their business was doing well‚ the numbers
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CAPITAL BUDGETING PRINCIPLES Capital budgeting is the process of evaluating and implementing a firm’s investment opportunities‚ by virtue of properly identifying such investments that are likely to enhance a firm’s competitive advantage and increase shareholder wealth. A typical capital budgeting decision involves a large up-front investment followed by a series of smaller cash inflows. A typical capital budgeting process is focused around following basic principles: 1) Decisions are based on
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the following items would be included as part of factory overhead in a microcomputer manufacturer? a. b. c. d. e. the cost of memory chips wage of computer assemblers depreciation of computer assemblers salary of marketing director all of the above 2. Inventoriable costs a. b. c. d. e. include only the prime costs of manufacturing a product. include only the conversion costs of manufacturing a product. are expensed when products become part of finished goods inventory. are regarded as assets before
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Capital Punishment Someone who believes that capital punishment is immoral or is completely against it‚ until he or she look at certain cases‚ people are quick to say‚ “Put them to death”. The public often contradicts their opinions when the discussion of capital punishment arises. Adding on to what Jeff Lindsay stated‚ most people often say that capital punishment is inhumane‚ yet when a ‘special’ case arises their stance changes; but only for that particular case. Of course there are many pros
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Classify each cost listed below as either a product cost or a period cost for purposes of preparing the financial statements for the bank. 1. The cost of the memory chips used in radar set. * Product Cost 2. Factory Heating Cost * Period Cost 3. Factory Equipment maintenance costs. * Period Cost 4. Training costs for new administrative employees * Period Costs 5. The cost of the solder that is used in assembling the radar sets. * Product costs 6. The Travel
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