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An accounting professional requires at least two skill sets. The first is to be technically competent. Knowing how to capture, manage, and report information is a necessary skill. Second, the ability to assess manager and employee actions and biases for accounting analysis is another skill. For instance, knowing how a person is compensated helps anticipate information biases.
Background: Assume that your company sells portable housing to both general contractors and the government. It sells jobs to contractors on a bid basis. A contractor asks for three bids from different manufacturers. The combination of low bid and high quality wins the job. However, jobs sold to the government are bid on a cost-plus basis. This means price is determined by adding all costs plus a profit based on cost at a specified percent, such as 10%. You observe that the amount of overhead allocated to government jobs is higher than that allocated to contract jobs. These allocations concern you.
Required:
1. Who are the stakeholders?
2. What are the ethical issues?
3. What is your recommendation to the financial officer of your company?
internal controls are required to safeguard assets and to ensure ethical business practices.1 identify and explain the
business start up accounting transactionsjane whitfield a sole proprietor established the jw flower shop on january 2
One quarter of the principal plus interest is payable on June 30 of each year beginning June 30, 2009. Property owners are assessed to provide the funds to pay the principal and interest on the debt.
Prepare the April 1, 2012, journal entry for Prince Company - Prepare the journal entry to record this payment.
blue ridge marketing inc. manufactures two products a and b. presently the company uses a single plantwide factory
Calculate the initial return earned by investors who are allocated shares in the IPO. What is the total cost ( underwriting fee and underpricing) of this issue to WCMC?
meridian industries manufactures and sells two models of watches prime and luxuria. it expects to sell 3000 units of
the heating division of pfc international produces a heating element that it sells to its customers for 42 per unit.
stephens industries is contemplating four projects project p project q project r and project s. the capital costs and
Solutions Corporation, a computer vendor and consulting company, uses the accrual method of accounting. Its tax year is the calendar year. The following are three of the corporation's transactions during the current year:
Create a chart of accounts for a small business. If you are currently working in the accounting field, you may use the chart of accounts from your business as the basis of your work. Include your explanation of the structure.
The marketing manager has recommended that the selling price be increased by 25%, with an expected decrease of only 11% in unit sales. What would be the company's net operating income if the marketing manager's recommendation is adopted?
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