Case Study in Managerial accounting Case 1: Southwest Airlines Part A : General Information Company Name: Southwest Airlines Co. Company is traded on the New York Stock Exchange trade market (NYSE) with symbol LUV. Corporate Headquarters are located at the physical address: 2702 Love Field Drive‚ Dallas‚ Texas 75235. Corporate Web Site: http://www.southwest.com. Corporate Web Site for business travelers: http://www.swabiz.com/ Industry Classification Company operates in the Industrial
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INSTRUCTION: Select the correct answer for each of the following questions. Mark only one answer for each item by shading the box corresponding to the letter of your choice on the sheet provided. STRICLY NO ERASURES ALLOWED. Use pencil no. 1 only. CASE 1: STOCK INVESTMENT IN SAN MIGUEL 1. The Stock Investment showed the following details during year 2008 STOCK INVESTMENT IN SAN MIGUEL Debit Credit Jan. 1 Audited balance 4‚000shares P80‚000 Feb. 28 Cash dividend
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What concepts in this chapter are illustrated in this case? The concepts of e-commerce‚ and social networking are illustrated in this case. E-commerce refers to the use of the Internet and the Web to transact business. In this case‚ Facebook setup a website for users to create a profile and join various types of self-contained networks without paying any money. But base on its huge number of users‚ it offers opportunity for companies to do advertisement on the site. And Facebook also uses
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Accounting Alternatives Case At the beginning of the year 20x1‚ two companies began operations to sell home heating units. Eads Heaters Inc. is located in Eads‚ Colorado‚ and Glenwood Heating Inc. is in Glenwood Springs‚ Colorado. The companies operate under similar economic conditions and have identical operations during the year. However‚ each manager makes different accounting choices and estimates when applying generally accepted accounting principles (GAAP) in preparing the company’s financial
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Mill‚ the concept of the Harm Principle is explained clearly as‚ “The only purpose for which power can be rightfully exercised over any member of a civilized community‚ against his will‚ is to prevent harm to others.” The concept is essentially that an individual should not have their liberties restricted unless those liberties cause harm to others. If an individual’s action only affects themselves then there is nothing that society or the state should do to prevent that action. The concept places so
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a study on the rules-based and principles-based accounting standards. The aim of this article is to discuss the attributes and potential effects of transferring from rules-based standards to principles-based standards. To some extent this article is critical‚ but several limitations need to be discussed‚ such as implementation guidance. Summary Schipper (2003) demonstrated that there was a long-running debate on whether U.S. GAAP should be shifted to principles-based system instead of rules-based
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profit targets. The first problem would be that the president established targets for the total dollar sales and net income before taxes for the next year. Then the president gave the sales target to the marketing department. By starting at the top and working its way down the chain of command causes problems because not all of the departments are involves in the decision making process. This method does not work or otherwise there would not be problems in achieving the budget‚ sales below
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Question 2 a) A fall in the value of the Australian dollar (AUD) against the U.S. dollar (USD) benefit Billabong in two folds‚ strengthened price competitiveness and translation advantage. Firstly‚ the Americas segment accounts for about 50% of Billabong’s sales revenue in 2008 and 2009. (Appx.1) In case of depreciation of AUD against USD‚ the price of imported surfwear to the U.S. in terms of USD will decrease. The US importers demand more for Billabong’s products. The sales increases from the
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are several initiatives Dollar Tree can continue to utilize as part of its strategy to distinguish itself in this discount retail industry. First‚ completely closing the current Family Dollar acquisition will set Dollar Tree out front as the leader in the industry‚ but several next steps will need to be taken in order for consumers and investors to view this as a successful venture. First‚ whether the organization intends to use the Family Dollar name or convert them to Dollar Tree stores will be a
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Waverly and Disappearing Dollars 1. How would you solve Waverly’s budgeting issue? In order to solve Waverly’s issue‚ I would advise her to work on the zero-based budget‚ this is where every dollar has a name before the month begins. Waverly is doing great at giving every dollar a name but instead of doing it as she spends her money she needs to do it before the month begins‚ so that she is already aware of where her money is going to for that month. 2. Is Waverly right in giving every penny a name
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