Assignment 4-2: Week 4 Analysis Write-Up Kylie Keener ACCT715-Q1WW Financial Accounting Theory Michael Miller 13 June 2012 1. Chapter 4: Problem 8 (GM) The article “GM to Take Charge of $20.8-Billion” here reproduced from The Globe and Mail (February 2‚ 1993) describes the potential impact of SFAS 106‚ “Accounting for Postretirement Benefits Other Than Pensions‚” on General Motors and Ford. For example‚ it appears that General Motors will be required to record a liability of $20.8 billion
Premium Generally Accepted Accounting Principles Revenue Income
of resources in ways that helps an organization achieve its goals. In the content we shall be describing the six managerial competencies‚ going into detail and also relating them to an individual’s personality. These managerial competencies are: communication‚ planning and administration‚ self-management‚ strategic action‚ global awareness and team work competency. All these managerial competencies are also an aspect of our daily lives‚ in discussion we will examine these competency’s strengths and
Premium Management
2) 1) D 2) A 3) D 4) B 5) A 3) b) The types of risk indicated by this situation are systems risk‚ and legal and regulatory risks. c) I would recommend background checks on employees‚ segregation of duties‚ and physical security. 6) A. Conducting surprise cash counts- safeguarding assets B. Creating a policy manual-encouraging compliance C. Creating separate departments for purchasing inventory a d receiving inventory-promoting operational efficiency D. Deleting and employee’s
Premium Employment Risk Computer
CHAPTER 5 Merchandising Operations and the Multiple-Step Income Statement ANSWERS TO QUESTIONS 1. (a) Disagree. The steps in the accounting cycle are the same for both a merchandising company and a service company. (b) The measurement of income is conceptually the same. In both types of companies‚ net income (or loss) results from the matching of expenses with revenues. 2. The components of revenues and expenses differ as follows: | | Merchandising | | Service | RevenuesExpenses
Premium Revenue Generally Accepted Accounting Principles
Managerial Statistics Distinguish between primary data and secondary data? OBJECTIVE The main objective of this topic is to measure the degree of relationship between the variables under consideration.The correlation analysis refers to the techniques used in measuring the closeness of the relationship between the variables. DEFINITION Some important definitions of correlation are given below: 1. “Correlation analysis deals with the association between two or more variables”. ---- Simpson &
Premium Pearson product-moment correlation coefficient Correlation and dependence Spearman's rank correlation coefficient
Chapter 12 Fundamentals of Management Control Systems Solutions to Review Questions Accounting assigns costs and revenues to “responsibility centers” that correspond to the decision authority of managers. This allows the firm to measure performance based on the results of decisions by the manager. An effective corporate cost allocation system separates the results of decisions by corporate managers from those of business unit managers. Although there are well-developed standards for many
Premium Management Revenue Variable cost
Chapter 7 Accounting for Financial Management ANSWERS TO BEGINNING-OF-CHAPTER QUESTIONS 7-1 The balance sheet shows the assets‚ along with the sources of funds used to acquire the assets‚ at a point in time‚ say 12/31/07. The income statement shows the sales and profits that were produced during an interval of time‚ say the year 2007. An individual would have assets‚ and a net worth‚ and a balance sheet would detail these holdings. The individual would also have income and expenses‚
Premium Generally Accepted Accounting Principles Tax Taxation
Article Analysis From Enron to Tyco‚ accounting scandals have always been a worrisome issue in accounting. Regardless of how many internal controls there are‚ there will always be a chance for unethical practices in accounting. Where and when do these problems arise? This paper will analyze an article listing situations that lead to those unethical practices and behavior that lawmakers try to prevent. In his article “What Are the Causes of Ethical Lapses in Accounting‚” Jagg Xaxx writes that business
Premium Sarbanes–Oxley Act Corporate governance Enron
MANAGEMENT CONSULTANCY - Solutions Manual CHAPTER 19 SOURCES OF INTERMEDIATE AND LONG-TERM FINANCING: DEBT AND EQUITY I. Questions 1. The bond agreement specifies such basic items as the par value‚ the coupon rate‚ and the maturity date. 2. The priority of claims can be determined as follows: senior secured debt‚ junior secured debt‚ senior debenture‚ subordinated debenture‚ preference shares‚ ordinary shares. 3. Bond conversion. 4. The advantages of debt are: a. Interest payments are tax deductible
Premium Stock Stock market Corporate finance
Chapter 17 Accounting and Reporting for the Federal Government True / False Questions 1. Responsibility for setting accounting and reporting standards for federal agencies rests primarily with the Federal Accounting Standards Advisory Board. True False 2. By law‚ federal agencies must incorporate the accounting standards (GAAP) established for the federal government into their financial management systems. True False 3. The objectives of federal financial reporting
Premium Generally Accepted Accounting Principles Finance Economics