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1. Barb Doane, a classmate, has a part-time bookkeeping job. She is concerned about the inefficiencies in journalizing and posting transactions. Jim Houser is the owner of the company where Barb works. In response to numerous complaints from Barb and others, Jim hired two additional bookkeepers a month ago. However, the inefficiencies have continued at an even higher rate. The accounting information system for the company has only a general journal and a general ledger. Jim refuses to install an electronic accounting system.
Instructions
Now that Barb is an expert in manual accounting information systems, she decides to send a letter to Jim Houser explaining
(1) why the additional personnel did not help and
(2) what changes should be made to improve the efficiency of the accounting department. Write the letter that you think Barb should send.
Prepare a schedule showing the amount of gross profit that Tarlo recognizes each year using the percentage-of-completion method.
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Customer information is buried deep in the separate databases and records of different company departments. To overcome such problems, many companies are now turning to ________ to manage detailed information about individual customers.
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Determine the flexible budget variances. Provide another name for the fixed cost flexible budget variance. Indicate whether the variances are favorable (F) or unfavorable (U).
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