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Management discretion, earnings management, and earnings manipulation: Are these ethical? Legal? DISCUSS how a decision can be considered a legitimate choice and how it can also be considered improper. For example, I can select a depreciation method that fairly represents the way the asset’s usefulness is used or I could select a method just to inflate expenses. Is that illegal? Unethical? Or both? Is it discretion, management, or manipulation?
Your posting should demonstrate that you understand the differences among discretion, management and manipulation.
Buffalo Company reported a December 31 ending inventory balance of $412,000. The following additional information is also available: The ending inventory balance of $412,000 included damaged goods at their original cost of $38,000. The net realizable..
Boscan Corporation purchased machinery on January 1, 2014, at a cost of $270,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $26,000. The company is considering different deprec..
Ronan Corporation produces a single product and has the following cost structure: Compute the unit product cost under variable costing
Schmidt Company uses standara costing. The company has two manufacturing plants, one in Colorafo and the other in Michigan. Compute the budgeted fixed cost per labor-hour for the fixed overhead separetely for each plant. Compute the variable overhead..
Determine the amount of tax liability in the following situations. In all cases, the taxpayer is using the filing status of married filing jointly. (Use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for th..
computation of doubtful expenses for the year ended.a.nbspbased on the aging of its accounts receivable at december 31
Penner and torres decide to merge their proprietorships into partnerships called pent or company. the balance sheet of torees co. shows accounts receivable $16,000 less : allowance for doubtful accounts 1,200 14,800 equitment 20,000 less:accumulated ..
Head-First Company plans to sell 4,700 bicycle helmets at $75 each in the coming year. Variable cost is 64% of the sales price; contribution margin is 36% of the sales price. Total fixed cost equals $45,090. Calculate the sales revenue that Head-Firs..
Financial statement of your SLP company to compute the measurements - Reflect on the advantages and disadvantages of these performance measures.
Using the LIFO method: beginning inventory on August 1 has 2 items valued at $100 each. On August 8, three items were purchased for $250 per unit. On August 10, two units were sold. On August 20, two units at $300 each were purchased. What is the val..
As an investor, how would you use accounting information to evaluate the risk of excessive use of leverage? What additional information would be useful? Explain.
Zell's Shredding Service has just completed a minor repair on a shredding machine. The repair cost was $900, and the book value prior to the repair was $4,990.
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