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In the fraudulent case of the company Phar-Mor Inc, consider your role as a junior accountant within a company or a new staff member within an audit-tax professional services firm. How should you protect yourself from becoming an unwitting participant in a fraud?
Calculate the mix and quantity variance for data
How much was depreciation expense for the year - Use a T-account to justify your answer.
Do you agree with the current practice of testing Goodwill for impairment or would you prefer the previous practice of amortizing Goodwill over 40 years? Defend your position.
For tax purposes, it uses the accrual method and would prefer to defer the income from the ticket sales until it performs the concerts. This is the first time that it has sold tickets one or two years in advance. Michael Stipe has asked your advic..
In a fixed order quantity system (q-system), the daily demand for a product is approximately normally distributed with a mean of 75.7 and a standard deviation of 4.1 units. The order lead time is 12 days. What is the safety stock (in units) if the ta..
Analyze the GAAP and IFRS methods to account for interim acquisitions of subsidiary stock at the end of the first year to determine which is most applicable in the greatest number of situations. Explain your rationale.
Bonds usually sell at a price that is different from the bond's face value. When this happens, the bonds are sold at a discount or premium. Discuss the market forces that would cause a bond to sell at a price that is different from its face value.
What amount of the acquired earnings and profits deficit of $30,000 can be used to offset Shipyard's current earnings and profits for 2011?"
Calculate Dahl's 20X6 consolidated net income and identify the amount attributable to Dahl's shareholders and to the non-controlling interest- You are not required to prepare a consolidated income statement.
Discuss the above quotation. Explain and evaluate the arguments for and against regulation. What is your opinion of the current level of accounting regulation?
Schuh, Inc. plans to produce 6,000 units in Month 1 and 7,000 units in Month 2. Each unit requires 3 pounds of direct materials that can be purchased for $2 per pound. At the beginning of Month 1 there are 2,000 pounds of direct materials on hand. Sc..
Taxpayer lives with her husband and children in City and works there. If her employer sends her to Metro (where she maintains an apartment) on business for three days and two nights each week and if Taxpayer is not reimbursed for her expenses. ..
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