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This isn't the first, or probably even the last college or university to have such a division in public education and a private training program servicing local or regional companies. Two of the universities I have been associated with in my past also ran into this issue when the state auditors came calling. One of the two institutions charged all costs for the department (including faculty salaries and facilities) to the private training program, making the university's graduate engineering program look more profitable than it actually was, and bilking the companies out of thousands of dollars. Here is my follow-up question to you for this topic:
Problem 1: Can we all agree that this practice is unethical, but is it also against GAAP and legally prosecutable? If you agree with either or both parts of statement (GAAP and legality), explain your rationale, including with GAAPs the university may be in violation of. If you don't agree with one or both, there needs to be a sound reason presented.
Overhead variances. Smolenski, Inc., uses standard costing. The company reported the following overhead information for the current period: Calculate the variable and fixed overhead variances.
In addition, the income statement showed a gain of $12,000 from the sale of investments. Reconcile a net income of $112,000 to net cash flow from operating activities.
Find what strategic objective would this address and find what specific measures would this involve
Calculate inpatient gross profit (GP) for each product line. What product line is most profitable by dollar amounts and GP percentage?
Find and read Aeroplan's revenue recognition policies from their 2010 annual report(available on Mycourse) and answer the question - Identify the different points in time that Aeroplan recognizes revenue.
Summarize the total assembly department costs for April 2014, and assign them to units completed (and transferred out) and to units in ending work in process
Prepare an overview diagram of Solomon's job-costing system and What is the budgeted manufacturing overhead rate in the machining department
Ratliff Appliances Company, Compute the flexible/variable cost effect of the price-recovery component and indicate favorable or unfavorable.
At current level of sales, compute the effect of net operating income if the Model C3 lawn chair is dropped.Direct labour is a variable cost at Heritage Garden
What is the selling price (rounded to nearest peso) needed to earn a 12 percent internal rate of return? Suppose the 20,000 estimated volume is sound
Find how many discounted tickets would WSM have to sell annually to earn an operating income of $1,000,000? Assume that the annual number of flights
What would be Keisha's after-tax accumulation in 20 years if she contributes $4,000 to a Roth 401(k) account?
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