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1) If you were given complete authority, how would you propose that generally accepted accounting principles (GAAP) should be developed and enforced in comparison with how the principles are now developed? What issues do you see with the way the current system handles this process?
Please provide reference in APA format and make it about 300 words.
2) Employees are paid every Saturday for the preceding work week. If a balance sheet is prepared on Wednesday, December 31st, what does the amount of wages earned during the first three days of the week (12/29, 12/30, 12/31) represent? Explain. What journal entry would be made for the days worked and what entry would be made when the wages are paid on Saturday?
3) If you were a potential investor and could only review one financial statement of a company in which you would like to buy stock, which financial statement would you choose and why? Be specific with your answer and provide about 250 words.
4) Identify three situations in which accounting measures are based on present values. Do these present value applications involve single sums or annuities, or both single sums and annuities? Explain. Be brief and provide 200 words and provide reference in APA format.
The importance of internal controls ... a little side trip due to current events: This is an article that highlights the importance of internal controls in managing financial functions (and by extension to managing all business functions). Can you..
Lenter Supply Corp. is a medium-sized distributor of wholesale hardware supplied in southern Manitoba. It has been a client of yours for several years and has instituted excellent internal control for sales at your recommendation.
What repayment will you receive under each of the two outcomes? What is the expected value of these repayments? Now assume that Kinkus has issued $15 million of new debt to another party, which is also due at the same time that owed to you. Kinkus ..
Explain the strategic management process within the global environment. Conduct various environmental analyses as they relate to an organization. Formulate strategies and potential strategic alternatives for different situations. Use effective commun..
A practitioner cannot accept an engagement unless he believes the subject matter to be capable of reasonably consistent evaluation against suitable, available criteria. What levels of assurance should be given in attestation engagement reports?
What is Activity Based Pricing? How can banks use it in their business? Explain. How can banks link ABC to performance management? Explain.
Prepare a memo to the audit partner on the ‘state of the company's industry' and associated risk factors.
Prepare a common-size income statement and balance sheet for McDonough Products. The first column of each statement should present McDonough Products common-size statement, and the second column should show the industry averages.
Suppose you were considering depositing your savings in one of three banks, all of which pay 5 percent interest; bank A compounds annually, bank B compounds semiannually, and bank C compounds daily. Which bank would you choose? Why?
The operational reviewer typically has multiple personal attributes that make them and mold them into operational reviewer. List and describe at least three and tell why they are positive attributes for the operational reviewer.
This posting contains an APA formatted MS Word file containing information in regards to the responsibilites of an auditor in the performance of their duties; including their responsibility for discovering of subsequent events occurring after comp..
My company needs $300,000 to take a cash discount of 2/10, net 70. A bank will loan the money for 60 days at a total interest cost of $5,500.
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