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Questions -
1. What are two examples of strong and weak internal controls in organizations where you have worked or have firsthand knowledge? How are these different?
2. Using examples of weak internal controls in an organization you are familiar with, how would you improve those controls to better safeguard a company's assets? Would these internal controls differ with a different type of business?
3. What are the three different inventory cost flow assumptions commonly used in commerce and allowed by generally accepted accounting principles? How does your company, or a company you are familiar with, determine what cost flow assumption it should use?
4. How would you describe the key internal controls that should be in place to protect cash in a cash rich environment such as a merchandiser?
Christopher Nobes suggests that there are several reasons for the differences in accounting systems throughout the world. Read the article and write a two page report on the following: (1) Identify two reasons for differences in accounting systems ..
On 1/1/1999 Batman Co. purchased all of the outstanding shares of Superman Company at book value Superman Company doesn't pay dividends and Batman Company.
In 2009, Austin Powers Corporation developed a new product that will be marketed in 2010. In connection with the development of this product, the following costs were incurred in 2009:
Goods were in transit from a vendor to Dimitri on December 31, 2010. The invoice cost was $76,000, and the goods were shipped f.o.b. shipping point on December 29, 2010.
jason used two assets during 2013. the first was computer equipment with an original basis of 18000 currently in the
Access the March 19, 2010, filing of the 10-K report (for fiscal year ending January 30, 2010) of J. Crew Group, Inc. (ticker JCG), at www .sec.gov.
the dates of importance in connection with cash dividend declared and paid of 69500 on a corporations commmon stock are
x company uses the high-low method to predict maintenance costs each month with maintenance hours as the activity
Complete the two columns of the table and then compute the amount that should be reported for the ending inventory using the LCM rule applied to each item. Prepare the journal entry that Peterson Furniture Designs would record on December 31 to write..
a company is evaluating a project requiring capital expenditure of 620000. estimated life of project is four years and
meca concrete purchased a mixer on january 1 for a cost of 45000. straight-line depreciation was used for years one and
John Roberts is 54 years old and has been asked to accept early retirement from his company. Determine the present value
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