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While making photocopies of some documents, you overheard two employees discussing their suspicions that an accounts receivable clerk is stealing money from the company.
Determination of What the Event is (Type 1 Type 2, Non-substantive, Lack of information to determine type or Clearly Less than Trivial)
Action to take and WHY, Supported by SPECIFIC PROCEDURES cited from CPA HANDBOOK
Proposed Journal Entry (where applicaIble) or indication no entry required and, where applicable, what the Proposed disclosure would be if Type II.
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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