Reference no: EM132376362
Assignment: Must be 800-1100 words min and cited.
You have recently hired a new assistant, Susan Thompson, who previously worked in a financial accounting office preparing journal entries, which provide you with a recording of the day-to-day activities of the company and financial statements (income statement, statement of owners' equity balance sheet, and cash flow statement). Although your new assistant has experience with and fully understands financial accounting, she has no experience with managerial accounting.
Part 1: In a memo to your new assistant, Susan Thompson, complete the following:
1. Explain to her the similarities and differences between financial and managerial accounting.
2. Provide examples of managerial accounting reports that she could expect to see within EEC, and explain how management might use the information to make decisions.
• Keep in mind that although the income statement, the statement of owners' equity balance sheet, and the cash flow statement are generated in financial accounting, they are used to develop all of your managerial accounting reports.
• Examples of a few of those reports are the horizontal analyzes, vertical analyzes, and ratios.
Part 2: In a memo to the board of directors, discuss the information found in each of the following financial statements, and describe how accounting information is used by managers for planning and control:
• Balance sheet
• Income statement
• Statement of cash flows
• Statement of stockholders' equity
Differences between quoting and summarizing
: Define the concepts of plagiarism, academic honesty, and academic integrity, specifically as they relate to integrity at the personal, courseroom.
|
Compounded average annual inflation rate
: The incredible shrinking $50 bill in 1957 was worth $50, but in 2007 it is worth only $6.58. What was the compounded average annual inflation rate
|
What was the balance in asb ltd cash account
: ASB Ltd. received its bank statement for the month ending 30 June, and reconciled the statement balance to the 30 June balance in the Cash account.
|
What is the yield to maturity on this bond
: Capital One has a 7-year, 8.9% bond issue selling for $991.78. What is the yield to maturity on this bond?
|
Differences between financial and managerial accounting
: Explain to her the similarities and differences between financial and managerial accounting. Provide examples of managerial accounting reports that she could.
|
Analyze the balance sheet and income statement of company
: Analyze the balance sheet and income statement of the company that you have selected, and outline your method for evidence collection which should include.
|
What is the price of the bond
: Morgan Stanley has a 3-year, 4.9% bond with a yield to maturity of 4.03%. What is the price of the bond?
|
What is the irr for project
: Your firm is contemplating the purchase of a new $590,000 computer-based order entry system. The system will be depreciated straight-line to zero
|
Analyze impact of new standard of chosen company leases
: Accounting is the language of business, and it is not a dead language! The FASB is responsible for ensuring that all relevant and material financial information
|