Units= =484‚000+148‚000+28‚80018‚000=$36.71/unit The results for the total expected cost/unit with actual data is: 404‚000+149‚200+28‚00014‚000=$41‚51/unit Q3. Comment on the performance report and the plant accountant’s analysis of results. How‚ if at all‚ would you suggest the performance report be changed before sending it on to the division manager and Marco Corporation headquarters? The accountant is making a big mistake by comparing absolute numbers from Budgeted costs and revenues
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revenues‚ why is their bottom line less than half of what they had budgeted? Variance Analysis Report In order to perform a variance analysis report Jenkins calculated the actual revenues and expenses and found the difference which was $296‚610 in profits. Then Jenkins did the same with budgeted values and found the budgeted profits to be $606‚350. The variance amount in turn is $309‚960 under budget. Also‚ the variance amount for revenues is $32‚100. This number is favorable due to the fact that
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perspective‚ a variance that is due to a change in activity is very different from a variance that is due to changes in prices and changes in how effectively resources are managed. A variance of the first kind requires very different actions from a variance of the second kind. Consequently‚ these two kinds of variances should be clearly separated from each other. When the budget is directly compared to the actual results‚ these two kinds of variances are lumped together. 9-5 An activity variance is the
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Section 001 Analysis and Comparison of 10K and Annual Report Johnson & Johnson’s 10-K and annual report have one major contrast. 10-K is long and detailed report. Annual report is shorter and contains similar information but in straightforward form. While the main purpose of the annual report is to market the company and attract new investors‚ the 10-K report contains standard information filed with SEC requirements. Both reports however are generally effective for their target audiences
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Graphical Information in Annual Reports: A Literature Review Abstract The use of graphs in disclosing financial information in corporate annual reports represents a significant dimension of management’s disclosure strategy. This paper reviews previous research into financial graphs since the 1970s. The most commonly graphed financial variables are sales‚ profit‚ EPS and shareholders’ fund. Research evidence shows that graph use is contingent upon favourable performance. Prior studies also
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Introduction A Conceptual framework is important to financial reporting. Financial reports provide information that is useful for present and potential equity investors‚ lenders and other creditors in making decisions in their capacity as capital providers. Hutchison-Whampoa Limited (HWL) is a global business company with long history. It is important for HWL to prepare the annual report as a basis of linking the conceptual framework in order to provide most useful information to satisfy the users
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Carpetright plc Annual report and accounts 2010 Harris House Purfleet Bypass Purfleet‚ Essex RM19 1TT Telephone +44 (0)1708 802000 www.carpetright.co.uk www.carpetright.plc.uk Annual report and accounts 2010 Europe’s leading floor coverings retailer Overview Financial highlights 1 Business overview 2 Chairman’s statement 4 Directors’ report: Business review Principal activities 5 Business objective and strategies 5 Operational and financial review
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CHAPTER AUDIT REPORTS THE AUDIT REPORT WAS TIMELY‚ BUT AT WHAT COST? 3 LEARNING OBJECTIVES After studying this chapter‚ you should be able to 3-1 Describe the parts of the standard unqualified audit report. Specify the conditions required to issue the standard unqualified audit report. Understand combined reporting on financial statements and internal control over financial reporting under Section 404 of the Sarbanes–Oxley Act. Describe the five circumstances when an unqualified report with an explanatory
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| A. Calculate and interpret the profit variance. Profit Variance = Actual Profit – Static Profit = 0.3 – 0.6 = -0.3 In words Newark General hospital was $300‚000 below standard‚ and made less profit than their expectations. B. Calculate and interpret the Revenue variance. Revenue Variance = Actual Revenues – Static Revenues
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INDEPENDENT AUDITOR’S REPORT the stockholders and board of directors XYZ CORPORATION Company Address Report on the Financial Statements We have audited the accompanying financial statements of XYZ CORPORATION which comprise the statement of financial condition as at December 31‚ 2011 and the statement of operations‚ statement of changes in equity and cash flows for the year then ended‚ and a summary of significant accounting policies and other explanatory information. Management’s
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