“certificate of achievement for excellence in financial reporting” by the Government Finance Officers Association? What is the significance of this award? Yes‚ it is significant because it is the highest form of recognition in the area of governmental accounting and financial reporting‚ and its attainment represents a significant accomplishment by a government and its management. (Page 13) b) What are the key issues addressed in the letter of transmittal? Major initiatives in the city of Charlotte
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Question 1 Use the data below to answer Parts (a) through (c). Show all calculations in your solutions. On January 1‚ 20X2‚ Haika Inc. purchased 60% of the outstanding voting shares of Selina Co. for $3‚000‚000. On that date‚ Selina’s shareholders’ equity consisted of retained earnings of $2‚000‚000 and ordinary shares of $1‚000‚000. Selina’s identifiable assets and liabilities had fair values that were equal to their carrying values on January 1‚ 20X2‚ except for the following: | Fair value
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have returned a total of 386‚000.In making the decision to buy the model 230 machine rather than the model 330 machine‚ the sunk cost wasA.319‚000B.386‚000C.285‚000D.323‚000 The 319‚000 cost of the old machine is a sunk cost. AACSB AnalyticAICPA BB Critical ThinkingAICPA FN Decision MakingBlooms ApplyBrewer - Chapter 01 151Difficulty 1 EasyLearning Objective 01-07 Understand cost classifications used in making decisions differential costs opportunity costs and sunk costs.Topic Cost Classifications for
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costs Labor costs of assembly-line workers $110‚000 – Direct labor Sales commissions $35‚000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including
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Chapter 8 Activity-Based Costing: A Tool to Aid Decision Making Solutions to Questions 8-1 Activity-based costing differs from traditional costing systems in a number of ways. In activity-based costing‚ nonmanufacturing as well as manufacturing costs may be assigned to products. And‚ some manufacturing costs—including the costs of idle capacity—may be excluded from product costs. An activity-based costing system typically includes a number of activity cost pools‚ each of which has its
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the protagonist makes many assumptions about herself and her family in particular. Josie perceives her family as out dated and oppressive and assumes herself as someone who can control her own destiny‚ and those of the people around her. This perspective is illuminated in the opening scenes as Woods establishes voice over to illustrate the protagonists disconnection with both her family and ethnic background when she narrates “this might be where I come from but do I really belong here?” This elucidates
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Running Head: ORGANIZATION PERSPECTIVES Organization Perspective OM8010 – Principles of Organization – Theory and Practice Dr. Robin Parry Capella University August 8‚ 2011 Organization Perspective Abstract As organizations experience increase organizational rigidity‚ performance declines can be driven by decrease in innovative change and employee turnover‚ understanding these shifts are critical to the bottom line. A major responsibility for top managers is to interpret
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The lecture last night discussed accrual accounting concepts such as timing issues‚ and the basics of adjusting entries. The discussion went into more detail on periodicity assumption and how accounting divides the economic life of a business into artificial time periods. These time periods are generally a month‚ a quarter‚ or a year‚ now whether it is a fiscal year or a calendar year that is determined by the company itself. The lecture then reviews the revenue recognition principle which expects
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The sociological perspective is a specific method for drawing closer a marvel basic in sociology. It includes looking after objectivity‚ not by stripping oneself of qualities‚ but rather by fundamentally assessing and testing thoughts‚ and tolerating what might amaze or notwithstanding disappointing in light of the proof. The sociological perspective frequently accept that "official" clarifications are fragmented or self-serving. It includes a cognizant push to go past the conspicuous and question
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Comparing Accounting Software Programs to Manual Accounting Manual accounting uses several paper ledgers to record financial transactions. It is very time consuming to record each single transaction onto paper‚ being very cautious not to make an error. There are several ledgers for each part of the accounting system‚ such as accounts payable‚ accounts receivable‚ and revenue accounts. Combining these ledgers into one general ledger‚ provide the balance for each ledger. The general ledger
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