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Discussion Questions 1 & 2
DQ 1: Flexible Budgets
READ - Chapter Six - Budgeting
WRITE - a minimum of 200 words addressing the following questions:
Flexible budgets provide different information than static budgets. Discuss some of these differences. Is a flexible budget always better? Are there times when you'd recommend using a static budget over a flexible budget?
DQ 2: Issues in Standard Costs and Budgeting
READ - Chapter Seven - Standard costs
Review the "Standard costs: Wake up and smell the coffee" article. When evaluating performance, many organizations compare current results with the actual results of previous accounting periods. Is an organization that follows this approach likely to encounter any problems? Explain.
Explain why the listed estimates for costs might not be similar to the actual costs for the job. What factors could affect the accuracy of these estimates? List as many factors as you can.
Do you believe the legislation enhances the power and prestige of the audit profession, or alternatively, does it decrease both the power and prestige of the profession? Explain.
Set up a T account for Accounts Receivable and T accounts for the four accounts needed in the customer ledger.
Discuss the pros and cons related to research and development costs under IFRS and GAAP. With which approach do you agree? Why?
ok state corporation has been operating successfully for several years. it is authorized to issue 24000 shares of
a. What amount will the entity distribute if the franchise operates as a C corporation? b. What amount will the entity distribute if the franchise operates as an S corporation?
in recent years there has been a lot of media coverage about the funding status of pension plans for state employees.
Big Thumbs Company manufactures portable flash drives for computers. Big Thumbs incurs monthly depreciation costs of $15,000 on its plant equipment and monthly advertising costs of $3,000 to place advertisements in magazines. Also, each drive requ..
What is the purpose of calculating a pension plan funded ratio?
you may use any of the additional resources listed in the drop-down menu above to help you complete this activity but
Low quality earnings most likely reflect: A. low-quality financial reporting.
At December 31, 2010, Niki Company reviewed the following situations to consider their impact on its 2010 financial statements:
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