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1. Outline the effect of 'perspective' on the development of a conceptual framework for financial accounting. Give an example of how a difference in perspective can inform development of accounting standards within such a framework.
2. What are discretionary expenses and why are they important to the operating success of a firm?
3. Why might a company want to engage in off-balance sheet financing?
4. What are the four options that manufacturing and service companies have to transform breakeven or loss customers into profitable ones?
5. What is budgeting and what is its role? List the purposes addressed by budgeting and the reasons why organizations prepare budgets.
Suppose that your team is going to form the company that will manufacture chocolate chip cookies. The team is responsible for preparing list of all product components and costs necessary to make this product.
Research what is the FORECAST for Federal Budget Deficit for fiscal year 2010. What are the economic implications of Government running a deficit year after year?
"Managerial accountants should understand the uses of accounting data, and users of data should understand accounting. Only in this way can accountants provide the appropriate accounting data for the correct uses." Do you agree with this statement..
A copier company has been using same Copier A for 5 years. This copier can copy approximately 50 sheets a minute. The company has opportunity to purchase the new Copier B which can process approximately 60 sheets a minute.
Discuss how a budget could help you personally or your organization accomplish the objectives of long range plan developed for you personally or for your organization.
One way to own your own fitness business is to buy a franchise. Snap Fitness is a Minnesota-based business that offers franchise opportunities. For a very low monthly fee ($26, without an annual contract) customers can access a Snap Fitness center..
Compute the firm's current contribution margin ratio and break-even in revenues. Recalculate contribution margin ratio and breakeven in sales if new machine is leased. What is the firm's operating income supposing that the new machine is leased?
Disk City, Inc. is a retailer for digital video disks. The projected net income for the current year is $2,740,000 based on a sales volume of 270,000 video disks.
Explain two long-run effects which might lead to managers' rejecting opportunities to cut prices and obtain increases in short-run profits.
CollegePak Company produced and sold 60,000 units throughout the year just ended at an average price of $20 per unit. Variable manufacturing costs were $8 per unit, and variable marketing costs were $4 per unit sold.
Critically evaluate the social, cultural or political implications of either the planning, controlling or decision making elements of management accounting.
Company A purchased equipment for $10,000. Sales tax on the purchase was $500. Other costs incurred were freight charges of $200, repairs of $350 for damage during installation and installation costs for $225. What is the cost of the equipment?
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