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Allocating the Costs of the Legal Department Most large companies have an in-house legal staff that helps the company deal with current and pending legal matters. Often the legal staff 's efforts are assisted by outside counsel, especially when specialized technical issues are involved. The legal department is growing in importance for some firms, as the firms attempt to deal with new govern- ment regulations. For management accountants, the regulatory changes have been dramatic, as a result of the Sarbanes-Oxley Act of 2002 which increased the responsibilities of financial managers in publicly held firms. One portion of the act, for example, requires a company to maintain a code of ethics.
Required: Most companies allocate the cost of legal services to their SBUs on the basis of some measure of size, such as the total assets or total revenues of the SBU. What is the likely effect of this allocation approach on the desired motivation and behavior within the SBUs? What approach would you propose for allocating legal costs, and why?
Evaluate the amount of depreciation that can be taken in the first two years of the truck's useful life if the actual miles driven are 16,000 and 18,200, correspondingly.
What are the advantages and disadvantages of valuing assets and liabilities at historical cost? At market value? How did accounting standard-setters react to the derivatives-related failures of the 1990s?
Prepare a flexible budget for the production of (a) 3,000 units and (b) 4,000 units.
What number of shares can be used in the computation of basic EPS for the year 2002?
questionproblem 1consider you want to purchase a million dollar home in twenty five yearshow much money should you
question a firm believes it can generate an additional 260000 per year in revenues for the next 5 years if it replaces
What amount should the building be recorded and should revenue be recorded for the savings between the cost of $50,000 and the bid of $60,000?
The company plans to raise funds in the short-term debt market and invest the entire amount in additional inventory. How much can notes payable increase without the current ratio falling below 1.50?
Duffy Enterprises declares bankruptcy and it is evaluated that the receivable of €1,200 from Duffy is not collectible.
Speedy paid $33 per share to repurchase its stock. What are the balances of Common Stock and Total Stockholders' Equity after the repurchase?
Prepare an income statement for 2010 and prepare a statement of retained earnings for 2010
Prepare a statement of cash flows for the Jeter Corporation and Statement of Retained Earnings for the year ended December 31, 2010 and Comparative Balance Sheets for 2009 and 2010 of Jeter Corporation
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