The controller of a small private college is complaining

Assignment Help Accounting Basics
Reference no: EM13570732

The controller of a small private college is complaining about the amount of work she is required to do at the beginning of each month. The president of the university requires the controller to submit a monthly report by the fifth day of the following month. The monthly report contains pages of financial data from operations.

The controller was heard saying, "Why does the president need all this information? He probably doesn't read half of the report. He's an old English professor and probably doesn't know the difference between a cost and revenue.a. What is the probable role of the monthly report?b. What is the controller's responsibility with respect to a president who doesn't know much accounting?

Reference no: EM13570732

Questions Cloud

Folder inc sold a piece of equipment for 13400 the book : 1.clean dirt inc had 8000 of salaries payable at december 31 2010. during 2011 clean dirts salary expense was 60000. at
The firm decides to factor 100000 of its receivables : the firm decides to factor 100000 of its receivables without recourse instead of waiting for collections. institution
A soft drink company has three bottling plants throughout : a soft drink company has three bottling plants throughout the country. bottling occurs at the regional level because of
Average accumulated expenditures relating to the factory : average accumulated expenditures relating to the factory building amounted to 1.8 million this year. 10 interst rate
The controller of a small private college is complaining : the controller of a small private college is complaining about the amount of work she is required to do at the
Prepare a schedule to determine whether at the end of 2013 : on january 1 2009 vallahara company purchased machinery for 650000 which it installed in a rented factory. it is
Consider a second alternative for accumulating funds to buy : consider a second alternative for accumulating funds to buy the new billing system. in lieu of a lump sum investment
What was the return on the companys stock for the period : if during a period a company paid a dividend of 5 and the price per share was 60 at the beginning of the period and 75
You invest 1000 in a certificate of deposit that matures : you invest 1000 in a certificate of deposit that matures after 10 years and pays 5 percent interest which is

Reviews

Write a Review

Accounting Basics Questions & Answers

  Invest in marketable securities

The XYZ Corporation has $1000,000 which it plans to invest in marketable securities. The corporation is choosing between the following three equally risky securities

  Corporate social responsibility

Discuss what we mean by the term "Corporate Social Responsibility".

  Although the quantity and content of audit working papers

although the quantity and content of audit working papers vary with each particular engagement an auditors permanent

  Beginning wip inventory is 900 units completed and

beginning wip inventory is 900 units completed and transferred out were 3400 units and ending wip inventory is 800

  Customers perspective and managements perspective

Which approach do you favor from (1) a customer's perspective and (2) management's perspective? Explain.

  Calculate monroe-s agi using the cash method

The income statement for Monroe's business shows thefollowing revenues and expenses for 2007, the initial years ofoperations. Calculate Monroe's AGI using the cash method.

  Eliminating the accumulated depreciation

Assume Candy Company accounts for accumulated depreciation by eliminating the accumulated depreciation against the gross carrying amount of the asset and restating the net amount to the revalued amount of the asset.

  Beginning inventory required purchase cost of goods is 60

inventory purchase budget using the sales-managers estimate 1st 2nd 3rd 4th sales 380000 310000 280.000 480000 cost of

  Unethical behavior on the profitability of the company

What was the affect of unethical behavior on the profitability of the company?

  Accounting treatment of the depletion and depreciation

Discuss the accounting treatment of the depletion and depreciation on the mine and mining equipment.

  What is the true cash balance at december 31

the unadjusted cash account balance for a company at december 312009 is 15926. the bank statement showed a balance of

  Youre a manager in fictitious company of your choice your

you are a manager in a fictitious company of your choice. your director has asked you to explain to the department

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd