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Module- Discussion
Actions for 'Performance Evaluations'
Both financial information and non-financial information are used to measure performance for product lines, divisions, and individuals associated with the business. Reflect on using financial information to evaluate performance for a business segment and a manager in charge of a business segment.
Questions
Accounting was developed to record and summarize transactions and for control purposes. How is accounting used today, other than for its original intent? Is financial information a good tool for performance evaluations (individual and organizational)? If so, do you advocate a specific format? If not, what do you suggest?
Please provide factual information (not merely opinions) backed up by details or examples. Your comments should be in your own words and Include references in APA format.
Financial management and accounting processes
What are the main elements of the disclosure statement. What information of the disclosure statement would interest the creditors and why? What information of the disclosure statement would interest the investors and why?
At January 1, 2015, Bassugg Company owed Beaski Bank $6,000,000 under a 10% note due December 31, 2016. Interest was paid last on December 31, 2013. Bassugg was experiencing severe financial difficulties and asked Beaski Bank to modify the terms of t..
Could you please research and explain if every single change in Estimates is material? Would you provide an explanation to those changes with examples? Be specific in providing your explanation.
P, L, and O are partners with capital balances of $50,000, $30,000 and $20,000 and who share in the profit and loss of the PLO partnership 30%, 20%, and 50%, respectively, when they agree to admit C for a 20% interest. If C contributes $40,000 to the..
There are three overhead allocation methods. 1) single plant-wide factory overhead rate; 2) multiple production department overhead rates; 3) activity-based costing. How do you know when to use which overhead allocation method? Why wouldn't I just us..
Flip had sales of $10,000 (100 units at $100 per). Manufacturing costs consisted of direct labor $1,500, direct materials $1,400, variable factory overhead $1,000, and fixed factory overhead $500. The company did not maintain any inventories, so tota..
Truck Company trades its used delivery trucks for new models at Greenwich GMC. The used trucks have a book value of $60,000 (original cost $140,000 less $80,000 accumulated depreciation). The new trucks have MSRP of $80,000. Prepare the journal entri..
The selling price of the equipment is $325,000, and the rate implicit in the lease is 8%, which is known to Silver Point Co. What is the book value of the leased asset at December 31, 2011, and what is the balance in the Lease Liability account?
In 2001, Ellen purchased a house for $60,000 to use as her personal residence. She paid $12,000 and borrowed $48,000 from the local savings and loan company. In 2005, she paid $15,000 to add a room to the house. In 2007, she paid $625 to have the hou..
2. Determine the cost of goods sold for the period.
Breakeven analysis adjusted for a targeted profit
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