Case 4.5 – Wiley Jackson‚ Accounting Major Auditing I – 8:05 TU Group G: Amy Favre‚ Leslie Francis‚ Chengcheng Jiang‚ Andrew Scott I have proofread the final draft and made the necessary corrections. ____________________________ (Writer) I have proofread at least one earlier complete draft of this report. As part of that proofreading process‚ I provided to the writer suggestions on how to improve the report. ____________________________ (Coordinator) ____________________________ (Spokesperson)
Premium Finance Financial audit Audit
Benedictine University MBA 601 Managerial Accounting Final Project (paper) Outsourcing In today’s business environment‚ outsourcing becomes more and more popular and important for all kind of companies because more and more companies realized the benefits of outsourcing. Outsourcing is the process by which the company contracts to another one to supply some goods and services. Outsourcing is not only used in the domestic business‚ but also used in the international business that is the offshoring
Premium Outsourcing
ACT 5733 – Advanced Managerial Accounting Fall 2012 HW #3 Question #1 Consider the following potential investment‚ which has the same risk as the firm’s other projects: Time Cash Flow 0 -$95‚000 1 $20‚000 2 $24‚000 3 $24‚000 4 $24‚000 5 $24‚000 6 $32‚000 a) What are the investment’s payback period‚ IRR‚ and NPV‚ assuming the firm’s WACC is 10%. b) If the firm requires a payback period of less than 5 years‚ should this project be accepted? Answer: Yes it should accept
Premium Net present value
1. Basic Concepts Product cost = Direct Labor (DL) + Direct Materials (DM) + Manufacturing Overhead (MOH) Financial accounting Managerial Accounting + Sales + Sales - COGS - Variable Costs = Gross Profit = Contribution Margin - SG&A - Fixed Costs = Net Profit = Net Profit COGS (Cost of Goods Sold) is an “inventoriable cost” ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold SG&A (Selling‚ General & Administrative) are
Premium Costs Management accounting Cost
“Lecture Preparation Instructions” tab in Vista prior to each class for detailed instructions and reading assignments. Each lecture will require preparation. Identify Issues Analyze Data Build Model Run Model Make Decision Management Accounting: Decision-making The Corporate Environment: Corporations are a conglomeration of people with a common purpose. The individuals seek to attain goals for the corporation‚ with the ultimate goal being profitability. In order to achieve this
Premium Costs Fixed cost Variable cost
Managerial Accounting Reality Check Summaries Professor Shin Hee-Lim Shin 1001006 Reality Check – What’s your blog’s ROI? Summary ROI has been always one of the important factors to determine how profitable the business is doing. However‚ for until last few decades‚ ROI was only implementing to evaluate the hard assets like buildings and equipment. But in nowadays‚ many companies are using ROI to evaluate the investment in technology‚ such as blog. As a following example‚ it shows that
Premium Time Corporation Economics
is: Analysis Period amount/Base Period Amount x100 9. One of several ratios that reflects solvency includes the: Debt-to-equity ratio 10. Current assets divided by current liabilities is the: Current Ration 11. Ch.18 Managerial accounting is different from financial accounting in that: (users and decision makers‚ purpose of info‚ flexibility of practice‚ timeliness of information‚ time decision‚ focus of information‚ nature of information) 12. Which of the following items are management concepts
Premium Variable cost Costs Fixed cost
Zeller Electronics Inc. produces and sells two models of pocket calculators‚ XQ-103 and XQ-104. The calculators sell for $12 and $25‚ respectively. Because of the intense competition Zeller faces‚ management budgets sales semiannually. Its projections for the first 2 quarters of 2010 are as follows. Unit Sales Product Quarter 1 Quarter 2 XQ- 103 20‚000 25‚000 XQ-104 12‚000 15‚000 No changes in selling prices are anticipated. Complete the sales budget for the 2 quarters ending June 30‚ 2010
Premium Marketing Direct material price variance Budget
References: Edmonds‚ T.P.‚ Tsay B.‚ & Olds‚ P.R. (2011). Fundamental Managerial Accounting Concepts. New York‚ NY: McGraw-Hill Itrwin.
Premium Costs Activity-based costing Management accounting
Q1: There are two different types of cost accounting systems: Job order cost systems and process cost systems. How does management decide whether to use a job order cost system or a process cost system in any given manufacturing situation? Explain. Job order cost system is used in situations where many different products are produced each period. For example‚ a Levi Strauss clothing factory would typically make many different types of jeans for both men and women during a month. A particular order
Premium Costs Management accounting Manufacturing