What is the difference between assurance and attestation services? Please provide examples of each.

What is the difference between assurance and attestation services? Please provide examples of each.

What is generalized audit software? What are the tasks for which auditors would use it? What are the advantages and disadvantages of using generalized audit software?

What is generalized audit software? What are the tasks for which auditors would use it? What are the advantages and disadvantages of using generalized audit software?

Explain the Sarbanes Oxley Act of 2002 and its application to audits.

Explain the Sarbanes Oxley Act of 2002 and its application to audits.

Describe the purpose of the statement of financing including illustrations of the major components of the statement. The components that should be discussed are resources used to finance activities, resources used to finance items that are not part of the net cost of operations, and components of the net cost of operations that will not require or generate resources in the current period.

Describe the purpose of the statement of financing including illustrations of the major components of the statement. The components that should be discussed are resources used to finance activities, resources used to finance items that are not part of the net cost of operations, and components of the net cost of operations that will not require or generate resources in the current period.

Develop simple cost volume profit models for Netflix and Blockbuster. What is the unit volume break even level of Netflix? What is the break even revenue level of Blockbuster?

Develop simple cost volume profit models for Netflix and Blockbuster.
What is the unit volume break even level of Netflix?
What is the break even revenue level of Blockbuster?
How can Netflix and Blockbuster achieve profits equal to 10% of revenues?
How can Blockbuster improve profitability given the CVP model?
What conditions would allow Netflix to increase price, and how would that affect profits?

Convenience stores are looking at more competition from supermarkets, drugstores, and membership warehouse clubs that have added gas pumps and faster checkouts. Therefore, cost cuts are needed to increase convenience stores competitive edge. Some retailers have found that it is cost effective to stock only one brand of a product. Others found that stocking particular products cost the convenience store so much that it incurred a loss on the sale of that particular product. Using accounting software takes all of these costs into consideration and shows where nonprofitable products are losing money. It helps convenience stores increase sales and decrease costs.

Convenience stores are looking at more competition from supermarkets, drugstores, and membership warehouse clubs that have added gas pumps and faster checkouts. Therefore, cost cuts are needed to increase convenience stores competitive edge. Some retailers have found that it is cost effective to stock only one brand of a product. Others found that stocking particular products cost the convenience store so much that it incurred a loss on the sale of that particular product. Using accounting software takes all of these costs into consideration and shows where nonprofitable products are losing money. It helps convenience stores increase sales and decrease costs.

1. Research a convenience store product, and list all of the types of costs that can be associated with a product.

2. Why does the convenience store industry need to cut its costs?

3. How does this software tool help to more accurately assess an item s profitability?

4. How can the software help cut inventory costs?

5. Is useful information provided to decision makers by knowing the specific carrying costs associated with a particular brand of product?

Evaluate the meaning of profitability ratios related to the financial health of an organization.

Evaluate the meaning of profitability ratios related to financial health of an organization.

Explain the factors that affect the results for profitability ratios.

What happens if two individuals form a S Corporation? One person contributes $100,000 for 50% ownership, and the other person contributes services for a 50% interest. What are the tax consequences of this transaction?

What happens if two individuals form a S Corporation? One person contributes $100,000 for 50% ownership, and the other person contributes services for a 50% interest. What are the tax consequences of this transaction?

Research and find financial statements for two companies of your choosing. Drawing on information from this course (managerial accounting), write an essay summarizing which of the two is a better investment. Include your reasons, using the course material evidence. Cite the financial statements and incorporate what you have learned from this course.

Research and find financial statements for two companies of your choosing. Drawing on information from this course (managerial accounting), write an essay summarizing which of the two is a better investment. Include your reasons, using the course material evidence. Cite the financial statements and incorporate what you have learned from this course.

We are identifying various deductions such as itemized deductions and business deductions. How do these expenses and other expenses affect adjusted gross income (AGI) and taxable income?

We are identifying various deductions such as itemized deductions and business deductions. How do these expenses and other expenses affect adjusted gross income (AGI) and taxable income?

Select a government organization and discuss how they manage the planning and control function on an annual basis. Discuss how they allocate costs between operating units and why the methodology is important.

Select a government organization and discuss how they manage the planning and control function on an annual basis. Discuss how they allocate costs between operating units and why the methodology is important.

Why is manufacturing overhead considered an indirect cost of a unit of product? Are there any situations where this could be considered a direct cost of a unit of product and if so, how? Explain.

1. Over the past few decades, the cost structure of manufacturing companies has shifted. In the early 1900s, direct material costs were substantial while fixed costs represented a small fraction of total manufacturing costs. However, the cost structure has reversed and now fixed costs make up the majority of total manufacturing costs. What caused this to happen? What would explain the drastic change in cost structure?

2. Why is manufacturing overhead considered an indirect cost of a unit of product? Are there any situations where this could be considered a direct cost of a unit of product and if so, how? Explain.

How does insurance manage risk? Explain your answer. May insurance eliminate risk?

1. How would you weigh risk against return? Is there a point when return makes risk invalid? Explain your answer

2. How does insurance manage risk? Explain your answer. May insurance eliminate risk?

A company makes a product out of metal. They use two pounds of metal that costs them $20 per pound. They pay their employees $25 an hour and it takes an average of 1.3 hours for them to make the final product. They expect to sell 8,000 units. They also expect to incur $40,000 in fixed costs. Prepare the mastic static budget.

A company makes a product out of metal. They use two pounds of metal that costs them $20 per pound. They pay their employees $25 an hour and it takes an average of 1.3 hours for them to make the final product. They expect to sell 8,000 units. They also expect to incur $40,000 in fixed costs. Prepare the mastic static budget.

If they expect to sell 1,000 units in jan, 800 in feb. 900 in mar, 500 in april, 600 in may, 700 in jun, 400 in july and they have a policy of producing 20% in advance and buying 10% of the materials in advance. How much metal should they buy in march?
During the year the company sold 10,000 units for $760,000. They also paid $487500 for 25,000 pounds of metal. They also paid their employees $337,500 for 12,500 hours of work. In addition they paid $41,000 in fixed costs. Prepare the flexible budget and prepare a variance analysis.

How does the state of the economy influence the sales of the company s products or expanding into new markets? What are the steps in the decision making process? What can be learned during this process? How does technology and instant communications affect management decision making? Why?

How does the state of the economy influence the sales of the company s products or expanding into new markets? What are the steps in the decision making process? What can be learned during this process? How does technology and instant communications affect management decision making? Why?

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