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Discuss the issue of commercialism versus professionalism in the accounting profession with respect to thechanges in the rules of conduct described in the case. Do you think these changes are good or bad for theprofession? For the public? Explain.1. What are the threats to compliance with the rules of conduct that arise as a result of the alternative practicestructure in this case? Why are they threats?2. What safeguards might be established to ensure the threats have been eliminated or reduced to acceptablelevels?
What would you do if you were Billy? Consider the following: 4. How can you get it done effectively and efficiently? What do you need to say and to whom?What can you expect the pushback to be and how might you counteract any reasons and rationalizations?
The following is taken from the asset section of a recently issued annual report ($ in millions): Loans, net of unearned income $244,206 Allowance for possible credit losses (6,679) What sort of business do you think this company is in? What effect d..
Which of the following accounts would appear only in an accrual basis accounting system, and which would appear in either a cash basis or accrual basis accounting system? (a) Capital Stock, (b) Fees Earned, (c) Accounts Receivable, (d) Land, (e) Util..
Amy owns an Andy Warhol painting valued at $3 million. She has made arrangements with the Warhol Museum in Pittsburgh to donate the painting to the museum when she dies. As part of the arrangement, Amy will keep the painting in her home until her dea..
Keefe Inc, a calendar-year corporation, acquires 70% of George Company on September 1, 2014, and an additional 10% on January 1, 2015. Total annual amortization of $6,000 relates to the first acquisition. George reports the following figures for 2015..
UPS Store prints business cards, brochures, and sells stationary. UPS plans to sell 80 jobs this up coming week at an average cost of $52 apiece. Expenses amount to $1840 each week. How much must they charge for each job to break-even? If they wish t..
The executive officers of Rouse Corporation have a performance-based compensation plan. The performance criterion of this plan is linked to growth in earnings per share. When annual EPS growth is 12%, the Rouse executives earn 100% of the shares; if ..
Lane, a single taxpayer, received $160,000 in salary, $15,000 in income from an S Corporation in which Lane does not materially participate, and a $35,000 passive loss from a real estate rental activity in which Lane materially participated. Lane's m..
select a company that you are familiar with from the transportation industry.collect the 4 main financial statements
Prepare an acquisition analysis and the consolidation journal entries necessary to prepare consolidated accounts for the year ending 30 June 2015 for the group comprising Koala Ltd and Kingfisher Ltd
Compute the ratios below for Blue Bill Corporation based on the financial statements provided. Ending inventory was $1,237.6 for year 2010. After calculating the various ratios, analyze the overall financial health of Blue Bill Corporation.
Your task is to compare and contrast the historical and expected future performance of BHP Billiton Limited (a listed company) and Rio Tinto Limited (a listed company) a competitor in the same industry
A partnership has three partners. Partner A has a 50% interest in capital and profits and uses a calendar year end. Partner B has a 30% interest in capital and profits and a May 31 year end. Partner C has a 20% interest in capital and profits and a J..
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