According to a McDonald ’s corporate press release: "i ’m lovin ’ it is a key part of McDonald ’s business strategy to connect with customers in highly relevant‚ culturally significant ways around the world." Translation: the focus groups they used happen to listen to rap and hip-hop. In an effort to show that McDonald ’s is "down" with their customers‚ they bought off a few rap artists to pose with this goofy white guy and their dumbass mascot: [pic] [pic] Introduction McDonald
Premium Strategic management
AUTOMATED ACCOUNTING Automated accounting is an approach to maintaining up-to-date accounting records with the use of accounting software. This software is often configured to allow for easy cross posting of receivable and payable‚ eliminating the need to enter multiple posting in order to keep accounting record in compliance with generally accepted accounting principles. Accounting as it exists today may be viewed as a system of assumptions‚ doctrines‚ tenets‚ and conventions‚ all encompassed
Premium Generally Accepted Accounting Principles Balance sheet Income statement
Marianne Ojo. (2009)‚ Oxford Brookes University. The overall purpose of this article is to be highlighted is why the external auditor is such an important tool in corporate governance. Corporate governance is the system of rules‚ practices and processes by which a company is directed and controlled. It is basically needed to balance the interest of the stakeholders in a company. Meanwhile‚ the external auditor is needed to make sure that the company follow the GAAP‚ checking the accounting record
Premium External auditor Audit Oxford
INTRODUCTION For years‚ infrared LED has been merely a system for piping light around corners and into the inaccessible places to allow the hidden to be lighted. But now‚ infrared LED has evolved into a system of significantly greater importance and use. Throughout the world‚ it is now being used to transmit voice‚ television and data signals as light waves. Its advantages as compared with conventional coaxial cable or twisted wire pairs are manifold. As a result‚ millions of dollars are being spent
Premium Integrated circuit
Chapter 2 The Time Value of Money and Net Present Value Solutions to Questions 2.1 to 2.43 appear in the text. 2.44 What is a perfect market? What were the assumptions made in this chapter that were not part of the perfect market scenario? Answer: A perfect market is one with no taxes‚ no transaction costs‚ no differences in opinion‚ and many buyers and sellers. In this chapter‚ we also are assuming no uncertainty and no inflation. 2.45 What is the difference between a bond and
Premium Net present value Time value of money Internal rate of return
Chapter 2 HOMEWORK ASSIGNMENTS #1. Billy’s Exterminators‚ Inc.‚ has sales of $643‚000‚ costs of $280‚000‚ depreciation expense of $32‚000‚ interest expense of $26‚000‚ and a tax rate of 35 percent. What is the net income for this firm? | | PROVIDE SOLUTION HERE: The income statement for the company is: | Income Statement | Sales | $643‚000 | | Costs | $280‚000 | | Depreciation | $32‚000 | | | | | EBIT | $331‚000 | | Interest | $26‚000 | | | | | EBT
Premium Balance sheet Generally Accepted Accounting Principles Inventory
Auditing procedures: Five assertions: 1. Occurrence: Define: transactions and events that have been recorded have occurred and pertain to the entity. Explain: sales and purchases shown in the income statement belong to the company and are real‚ that is they actually took place. 2. Completeness: Define: all transactions and events that should have been recorded have been recorded. Explain: all the individual transactions making up the balances in the income statement are recorded; no sales
Premium Expense Revenue General ledger
2-6 – Statement of Retained Earnings In its most recent financial statements‚ Newhouse Inc. reported $50 million of net income and $810 million of retained earnings. The previous retained earnings were $780 million. How much dividends was paid to shareholders during the year? Net Income = 50 million Retained Earnings = 810 million Retained Earnings beginning of the year = 780 million Amount of RE generated this year = 810 – 780 = 30 million NI = Dividends + RE 50 million = Dividends + 30
Premium Progressive tax Income tax Taxation
Exam #1- Finance 414 – Spring 2011 Name:_________________________________ Student PID Number ____________________ You have 1 hour and 20 minutes to complete this exam. Section I has 32 multiple choice questions worth 2.5 points each for a total of 80 points. Section II has 2 long problems worth 10 points each. Plan your time accordingly. Read each question carefully and show all of your work clearly on the long problems as partial credit will be given. If you run out
Free Tax Corporate tax Cash flow
1. (TCO A‚ B‚ C) External users want answers to all of the following questions except: (Points : 3) Is the company earning satisfactory income? Will the company be able to pay its debts as they come due? Did the company use a budget to plan its expenses? How does the company compare in profitability with competitors? | 2. (TCO C) Debt securities sold to investors that must be repaid at a particular date some years in the future are called: (Points : 3) accounts
Premium Balance sheet Inventory Generally Accepted Accounting Principles