Accounting (Managerial) 530 Portfolio Case Study Imagine you are applying to become a trainee in a management consulting company‚ Solutions Inc.‚ which claims to deliver innovative solutions. They are looking for innovative employees who engage with their work. The selection process will be rigorous. You know you will be asked to submit reports based on questions regarding your knowledge of management accounting practice and strategic management accounting. To provide a context for the reports
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Business Law and Ethics Review Notes Lecture 1 Profit affect business decisions‚ but do we really have a free market to conduct our business in? BUSINESS DECISIONS Internal Forces Type of Business Structure Ethics CSR Corporate Governance External (Legal) Forces Contract Law Agency Tort Law Consumer Law External (Structural) Forces Legal System Dispute Resolution Regulation Ethics: Concerned with how we should behave‚ and involves theories that describe the ‘right’ way to make
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Uncollectible Accounts Lesley-Ann Herard ACC 281 John Istvan November 17‚ 2014 Uncollectible Accounts Charity care in a health care environment gives patients reduced or even free services to those who have low incomes. The idea of charity care was associated to the way hospitals helped low- income families. The write-offs and potential costs that are provided to the patients are determined before anything is done. It is up to the discretion of the hospital if any or all the cost is
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capital employed? A B C D current assets – current liabilities fixed assets + current assets – current liabilities fixed assets + current assets + current liabilities net assets – current liabilities 2 When preparing a sole trader’s annual accounts‚ no adjustments were made for closing amounts prepaid. What is the effect of these omissions? A B C D net profit overstated net profit understated current assets overstated creditors understated creditors understated owner’s capital overstated
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Tutorial 1 (1a) Which one of the following is an example of an internal stakeholder? A A shareholder B Investment analyst / consultant CA manager DA supplier (1b) The original role of the accounting function was which one of the following? AProviding management information BRecording financial information C Maintaining financial control D Managing funds efficiently (1c) The major purpose of the Malaysian Accounting Standards Board (MASB) is to ensure consistency in ___________
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South African Constitution (1996) provides that ‘No one may be refused emergency medical treatment’. In Malaysia‚ although the ED exists to deal with cases of emergency and trauma‚ but functions as outpatient department (to treat cold cases) which is still there‚ especially after office hours or public holidays. Sometimes we overlook the simple case where inaccurate treatment can invite to suffering for the patients. When this happens it increases the workload of the staff in the unit. There are many
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long-term obligations is referred to as: Solvency 4. The ability to provide financial rewards sufficient to attract and retain financing is called: Profitability 5. The ability to generate positive market expectations is called: Market Prospects 6. Standards for comparisons in financial statement analysis include: Intra-company‚ Competitor‚ Industry‚ Guidelines 7. The comparison of a company’s financial condition and performance across time is known as: Horizontal Analysis 8. A company’s sales
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Will this entry increase or decrease net operating income? PROBLEM 2-22B Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO6) CHECK FIGURE Direct labor: $57‚000 Alexsandar Company provided the following account balances for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $217‚000 Purchases of raw materials $263‚000 Direct labor ? Administrative expenses $151‚000 Manufacturing overhead
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resulted in a loss of 60 labor jobs and 30 indirect jobs. 2. Consider two products in the same product line: | Product 1 | Product 2 | Expected Selling Price | $62 | $54 | Standard Material Cost | $16 | $27 | Standard Labor Cost | $6 | $3 | Calculate the expected gross margin as a percentage of selling price on each product based on the 1988 and 1990 model year
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case 10-firehouse subs 1. What advantages do franchisees gain when they buy their franchises? What disadvantages do they experience? Advantages: Usually‚ a franchisee can get many benefit from buying the franchise. First‚ the franchisee get the chance to access to a "business system with a proven track record". By doing this‚ franchisee can have their own small business faster and operate it more efficiently. Second‚ Franchisors will offer training programs for their franchisees to improve their
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