How should the controller respond

Assignment Help Accounting Basics
Reference no: EM13132356

The controller of a retail company has just had a $50,000 request to implement an ABC system quickly turned down. A senior vice president, in rejecting the request, noted: "Given the choice, I will always prefer a $50,000 investment in improving things a customer sees or experiences, such as our shelves or our store layout. How does a customer benefit by our spending $50,000 on a supposedly better accounting system?" How should the controller respond?

Reference no: EM13132356

Questions Cloud

Determining code size bounds : Determine what the Singleton bound, the sphere-packing bound and the Varshamor-Gilbert bound say about the maximum number of information bits that codewords with ten check bits can have if the codewords are protected from 3 or fewer errors.
Binary and hexadecimal expansions : Show that the binary expansion of a positive integer can be obtained from its hexadecimal expansion by translating each hexadecimal digit into a block of four binary digits.
Calculate the annual cash dividends : Calculate the annual cash dividends to be paid for each of these preferred stock issuances:
How many grams of co2 gas are produced : an antacid, contains CaCO3. If Tums is added to 20.0mL of 0.400 M HCl solution, how many grams of CO2 gas are produced?
How should the controller respond : How does a customer benefit by our spending $50,000 on a supposedly better accounting system?" How should the controller respond?
Hexadecimal expansion of integer : Give a procedure for converting from the hexadecimal expansion of an integer to its octal expansion using binary notation as an intermediate step.
Total cost of the units sold : Stephanie Stores uses the moving average flow assumption. On July 1, there were 180 units on hand and the total inventory cost was $900. On July 10, 40 more units were purchased at a cost of $6 apiece. Twenty units were sold on July 3 and 60 units..
Matrix-population formulation : Give a matrix that describes the game and argue that a population consisting solely of LIONS isn't stable, nor is one consisting solely of LAMBS.
Explain fumaric acid requires a much higher temperature : When maleic acid is heated to about 100C it forms maleic anhydride, however fumaric acid requires a much higher temperature (250-300C) before it dehydrates

Reviews

Write a Review

Accounting Basics Questions & Answers

  What limits are placed on the selection of a tax year

What limits are placed on the selection of a tax year of an S corporation? How do these limits differ from those applicable to C corporations and partnerships?

  Cost of equity capital-allegheny valley power company

The Allegheny Valley Power Company common stock has a beta of 0.80. If the current risk-free rate is 6.5%(Krf)and the expected return on the common stock as a whole is 16%(Km)

  How each transaction affects the accounting equation

Bass Lake Eatery borrowed $10,000 from the bank on April 1. The note is a 1-year, 12% note, with both principal and interest to be repaid on March 31, 2011.

  Annual increase in income realized

Your firm has $45.0 million invested in accounts receivable, which is 90 days of net revenues. If this value could be reduced to 50 days, what annual increase in income would your firm realize if the increase in cash could be invested at 7.5 perce..

  What would be the impact on monthly profits

The normal selling price is $18 per unit. The company's capacity is 12,000 units per month. Due to the University of Alabama participating in the BCS National Championship Game, an order has been received from a retailer for 2,000 additional T-shi..

  Prepare a schedule of expected cash collections

From past experience, the company has learned that 20% of a month's sales are collected in the month of sale, another 70% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts ..

  What is the number of shares outstanding

The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 40,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding?

  By what amount would net income differ

Do you agree or disagree with Dolly wood's policy concerning recognition of bad debt expense?

  Ifrs and accounting consensus

Write a 1-2 page research summary on the document below authored by Sunder. Focus your paper on Sunder's five key elements of consensus for common accounting standards for multinationals.

  Promoting the profession of accountancy

You have been elected president of your university's newly chartered accounting honor society. The society is a chapter of a national organization that has the following mission: "To promote the profession of accountancy as a career and to imbue m..

  Describing transparency and disclosure

Transparency and Disclosure: A company's overall policy for controlling and disseminating inside information must meet the standards for transparency and disclosure. What would the company's specific financial reporting objectives be with respect t..

  Estate tax purposes as of which date

If an election is available and is made to use alternate valuation for federal estate tax purposes, then if a parcel of real estate owned by the decedent is sold within six months after the decedent's death, the parcel of real estate is valued for..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd