Do you agree or disagree that FAS 157 was responsible for the financial meltdown in the U.S.

Do you agree or disagree that FAS 157 was responsible for the financial meltdown in the U.S.

How do GAAP and IFRS differ?

The U.S. is scheduled to begin moving from Generally Accepted Accounting Principles (GAAP) to IFRS by 2014. At least three questions are worth discussing:

1. How do GAAP and IFRS differ?

2. What might the consequences be for financial managers, apart from financial reporting / controllers?

3. The IFRS move was the creation of the SEC under Christopher Cox (a Bush appointee). Mary Schapiro, the current head, may defer the implementation. Should she?

Business expenses are deductible when they are ordinary, necessary and reasonable. Explain what is meant by these requirements?

Business expenses are deductible when they are ordinary, necessary and reasonable. Explain what is meant by these requirements?

What characteristics of general computer systems people are most familiar with and how familiar are they with them? Which characteristics do they understand best? Which characteristics do they understand least?

What characteristics of general computer systems people are most familiar with and how familiar are they with them? Which characteristics do they understand best? Which characteristics do they understand least?

Your company uses the fifo method in its process costing system. In the cutting department in june, units were 80% complete with respect to conversion in the beginnning work in process inventory and 33% complete with respect to conversion in the ending work in process inventory. Other date for the dept for june follws:beginning inventory 25,000/$30,000 Units started and costs incurred 140,000/$175,000 Completed and transferred out 135,000 What would be the cost per equivalend unit for conversion costs?

Your company uses the fifo method in its process costing system. In the cutting department in june, units were 80% complete with respect to conversion in the beginnning work in process inventory and 33% complete with respect to conversion in the ending work in process inventory. Other date for the dept for june follws:beginning inventory 25,000/$30,000 Units started and costs incurred 140,000/$175,000 Completed and transferred out 135,000 What would be the cost per equivalend unit for conversion costs?

How are analytical procedures used in an audit engagement? What premise underlies the use of analytical procedures in auditing? What sources of information can an auditor use to develop expectations? Provide examples

How are analytical procedures used in an audit engagement? What premise underlies the use of analytical procedures in auditing? What sources of information can an auditor use to develop expectations? Provide examples

What are the two types of audit tests? What are some examples of each of these two types of tests? How will the auditor use the data gathered from these tests?

Why do auditors have to consider the internal controls of the organization? What are some key elements of internal control? Which are the most important? How will the auditor have to modify the audit program if the internal controls are deemed inadequate to support management assertions?

Sofia Sweeny,the president of Sweeny Enterprise,is considering two investment opportunities. Because of limited resources, she will be able to invest in only one of them. Project A is to purchase a machine that will enable factory automation; The machine is expected to have a useful life of four years and no salvage value. Project B supports a training program that will improve the skills of employees operating the current equipment.Initial cash expenditures for Project A are $300,000 and for Project B are $120,000.The annual expected cash inflows $94,641 for Project A and $39,507 for Project B. Both investment are expected to provide cash flow benefits for the next four years.Sweeny Enterprise s cost of capital is 8%.

Sofia Sweeny,the president of Sweeny Enterprise,is considering two investment opportunities. Because of limited resources, she will be able to invest in only one of them. Project A is to purchase a machine that will enable factory automation; The machine is expected to have a useful life of four years and no salvage value. Project B supports a training program that will improve the skills of employees operating the current equipment.Initial cash expenditures for Project A are $300,000 and for Project B are $120,000.The annual expected cash inflows $94,641 for Project A and $39,507 for Project B. Both investment are expected to provide cash flow benefits for the next four years.Sweeny Enterprise s cost of capital is 8%.

a.Compute the net present value of each Project. Which project should be adopted based on the net present value approach?
b.Compute the approximate internal rate of return for each project.Which one should be adopted based on the internal rate of return approach?
c.Compare the net present value approach with the internal rate of return approach.Which method is better in the given circumstances? Why?

Explain the relationship between federal debt and annual yearly surpluses or deficits. Discuss the impact on interest rates and future tax burdens.

Explain the relationship between federal debt and annual yearly surpluses or deficits. Discuss the impact on interest rates and future tax burdens.

Explain the overall accounting cycle for a fast food restaurant. Include a description of the people, processes, and systems that are integral to the cycle.

Explain the overall accounting cycle for a fast food restaurant. Include a description of the people, processes, and systems that are integral to the cycle.

Why would an investor buy convertible bonds instead of the underlying stock when the conversion price is higher than the stock price? Why would a company issue convertible bonds instead of new stock?

Why would an investor buy convertible bonds instead of the underlying stock when the conversion price is higher than the stock price? Why would a company issue convertible bonds instead of new stock?

Why use the Wilcoxon T test. What is the hypothesis statements you used?

1. Why use the Wilcoxon T test. What is the hypothesis statements you used?
2. Consider do we prefer working with dependent samples or independent samples? Explain
3. We have the statement The F ratio provides the ability to determine the deviation between the population and the means and develop a method of accepting or rejecting a hypothesis. In fact we use the ANOVA which tests variances using the F ratio to determine if the mean values are equal. How can we use a test on variances to tell us about mean values?
4. Do information technology people get the respect they deserve? Ans: Yes.

Examine the question and what are your comments?
5. Consider ANOVA is important because it gives a person a basis in which to infer if their null and alternative hypotheses are correct or not. This is true of all statistical testing. What is special about ANOVA?

The constant shifts in the marketplace require business organizations to continually react and adapt. As different departments within organizations adapt to changes, the accounting department often finds itself in a reactive position, especially if it is not involved in some of the decisions made by senior executives or other departments. In most cases, interdepartmental communication is a key component of success.

The constant shifts in the marketplace require business organizations to continually react and adapt. As different departments within organizations adapt to changes, the accounting department often finds itself in a reactive position, especially if it is not involved in some of the decisions made by senior executives or other departments. In most cases, interdepartmental communication is a key component of success.

In your opinion, what role does the accountant play in the decision making process within organizations?

Share your own experiences within your organization or those of others, noting how the role of the accountant interacts with other departments within the organization.

What are the primary communication tools that accountants use in an organization to communicate with their counterparts in other parts of the organization and assess whether they are the most efficient?

Qunitana Pena expects to receive a $500,000 cash benefit when she retires five years from today. Ms. Pena s employer has offered an early retirement incentive by agreeing to pay her $300,000 today if she agrees to retire immediately. Ms. Pena desires to earn a rate of return of 12%.

Qunitana Pena expects to receive a $500,000 cash benefit when she retires five years from today. Ms. Pena s employer has offered an early retirement incentive by agreeing to pay her $300,000 today if she agrees to retire immediately. Ms. Pena desires to earn a rate of return of 12%.

a. Assuming that the retirement benefit is the only consideration in making the retirement decision, should Ms. Pena accept her employer s offer?

b. Identify the factors that cause the present value of retirement benefits to be less then $500,000.

Kade Gulliver turned 20 years old today. His grandfather established a trust fund that will pay Mr.Gulliver $60,000 on his next birthday. However, Mr. Gulliver needs money today to start his college education. His father is willing to help and has agreed to give Mr. Gulliver the present value of the future cash flow, assuming a 10% rate of return.

Determining the present value of a lump sum future cash receipt for Mr. Gulliver

Kade Gulliver turned 20 years old today. His grandfather established a trust fund that will pay Mr.Gulliver $60,000 on his next birthday. However, Mr. Gulliver needs money today to start his college education. His father is willing to help and has agreed to give Mr. Gulliver the present value of the future cash flow, assuming a 10% rate of return.

a. Use a present value table to determine the amount of cash that Mr. Gulliver s father should give him.
b. Use an algebraic formula to prove that the present value of the trust fund (the amount of cash computed in requirement a) is equal to its $60,000 future value.

How might a cash flow statement be useful for a client on a personal level? Specifically, what questions might this cash flow statement answer for the client?

How might a cash flow statement be useful for a client on a personal level? Specifically, what questions might this cash flow statement answer for the client?

© 2010 oxenMINE.com: Customized Homework help. - Powered by OM