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Case Scenario 1:
Mary has access to the Petty Cash fund. Her boss has asked her to go to lunch for a business meeting. Is it okay for her to borrow $10 for her personal lunch if she intends to pay it back the following day.
Case Scenario 2:
A husband and wife team have 50/50 ownership in the business. The husband has told all employees no bonuses will be given this year. You see the wife pull aside the sales person separately offering a $50,000 bonus if he makes his numbers. As the Accountant, should you mention the side deal to the husband owner.
Case Scenario 3:
Mike is looking to hire an accounting professional who will be his only financial person. He found the perfect candidate that has a bankruptcy in her past.
Should Mike hire the candidate?
Case Scenario 4:
John has found errors and discrepancies on the company's financial statements. Is it okay if he does not report this because a lot of employees in the company will probably lose their jobs if he does.
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
Evaluate the Predetermined Overhead Rate
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Complete the schedule to compute the pool rates for the different activities.
Prepare Company financial statements
This individual assignment is based on the TerraCycle Inc.
Discuss the ethical issues
Calculate the GDP in Income Approach and Expenditure Approach
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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