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Problem 1: After working for an accounting firm for a number of years you decide to go work for a hedge fund as Assistant Controller. The hedge fund invests in a variety of marketable securities, including equity of other companies (typically the firm's common stonk) and other companies' publicly traded debt. The company also invests in derivative securities, in particular options, and sometimes engages in what is called "short selling", wherein it borrows shares of stock from another company and sells it with the promise to return the shares of stock in the future with an additional fee or interest. The hedge fund has a large short interest in a particular company, GameStop, and the price changed rapidly shortly after you arrived. How should the company account for this investment? If the company had outstanding options it has written or purchased, how should it account for these investments? Provide short summaries of each of these investments (citing appropriately) and determine the correct accounting when the prices change rapidly, citing ASC where appropriate.
How would you structure a board of directors and hired executive(s) to reduce the likelihood of issues like those at Theranos
You are planning to retire in 15 years with $1,000,000. You can earn 10.5% compounded quarterly. How much do you need to invest today
direct drugs inc. is planning to acquire solvgen inc. solvgen or the company a publicly owned company during the fourth
eestan corporation uses a predetermined overhead rate of 22.30 per direct labor-hour. this predetermined rate was based
Identify which qualitative characteristic of accounting information is best described in each item below. (Do not use relevance and faithful representation.)
How does budgeting for a governmental entity differ from a for profit entity? Why? What types of budgeting techniques are used for governmental entities
Explain how the techniques and tools can be utilized to present data to management and other organizational decision makers.
Profit sharing is not widely practiced in the franchise business. What are its disadvantages relative to revenue sharing?
Wriston Company is preparing its cash budget for the upcoming month.
How would your level of professional skepticism differ depending on whether you are performing a review versus an audit engagement
The Gravais Company made two purchases on December 29, 2010. One purchase for $3,000 was shipped FOB destination, and the second for $4,000 was shipped FOB shipping point. Neither purchase had been received on December 31, 2010.
roberts company manufactures one product. on december 31 2004 roberts adopted the dollar-value lifo inventory method.
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