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You have just accepted your first job out of college, which requires you to evaluate loan requests at Beach Front National Bank. The person training you at the bank, Jim Baker, uses a loan request received from Surfer Dude Supplies, a small proprietorship. Marty Monroe, the owner, is requesting $75,000. Jim tells Marty that all they consider before making a decision on the loan request is an accurate set of financial statements. Do you think this an accurate statement on the loan request process? What other considerations or information likely are part of the decision-making process by the bank?
Betty's Bunny Barn has experienced a $40,000 loss due to tornado damage to their inventory. Tornados have never before occurred in this area. Assuming that the company's tax rate is 30%, what amount will be reported for this loss on the income sta..
You have been asked to prepare a presentation on managerial accounting for the next board of directors meeting for your company. Prepare a paper of 2-3 pages that discusses the following:
The total fixed costs of $50,000 are allocated on the basis of sales volume across the three product lines. The small product line has 30% of the sales volume. What is the differential income or loss from discontinuing the small speaker product li..
Discuss ideas for a new business in your community. Explain what is the new business will you provide and why your community is need of such a business.
For each decision, discuss what information the management account can provide about the source of competitive advantage for these firms.
When questioned by the auditors, the CFO of ABC, Inc. mentioned "An asset is just an expense waiting to happen." Discuss the validity and implications of this statement.
Which of the following costs is often important in decision making, but is omitted from conventional accounting records?
accounting objective questions, Which of the following is a cash flow from operating activities? A cash inflow from financing activities includes?
In its 2004 annual report, Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company provides currently for the estimated cost for product warranties at the time the related revenue is recognized."
Assess how a company's accounting and financial reporting is likely to be impacted by the work being done by the EITF on this issue.
How are managerial accounting concepts useful for a decision-maker at any level in an organization? Make sure to include different levels of decision-makers in your reply.
Indicate the effect of each of these errors on working capital, current ratio (assume that the current ratio is greater than 1), retained earnings, and net income for the current year and the subsequent year.
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