Reference no: EM132923477

SARAH CATHERINE THORNTON: A Collection of Case Studies on Financial Accounting Concepts This thesis is compiled of twelve case studies, each on a unique accounting concept. Each case study was analyzed in a group of two to four students, and each student completed a write-up answering the case questions and examining the proper accounting treatment for each issue in the case. Case topics included financial statement assembly and analysis, internal controls, inventories, leases, revenue recognition, deferred income taxes, and examinations of equity, among others. Each topic was considered using accounting knowledge learned during intermediate accounting classes at the University of Mississippi as well as the Financial Accounting Standards Board (FASB) Codification. The codification explicitly states rules and regulations to follow when accounting for each item, and was very useful when considering unfamiliar and unusual topics presented in the cases. The case studies are arranged in chronological order of completion, and each is titled with a description of the case topic

1. State four elements of the demographic environment that may in?uence the operations of a business.
2. Outline four circumstances under which goods may be transported by use of containers
3. The following information was extracted from the books of Salome Traders: Capital Ksh 1,119,300; Long tenn liabilities Ksh 1,807,000; and current liabilities Ksh 978,700.
Required
(a) Determine Salome Traders Rate of Return on Capital Employed if the business made a net pro?t of Ksh 438,945.
(b) State the importance of the rate of return on capital employed.
4. Highlight four indicators of economic growth that may be observed as a country progress
5. Chem Chemi Ltd is a new cement manufacturer. Outline four factors that may encourage this company to be established in Athi River town where other cement manufacturers are located despite the obvious competition.
6. Outline three ways through which a partnership may be formed.
7. State four features of land as a factor of production.
8. Highlight four items that would be included in the measurement of national income using the income approach.
9. Outline four bene?ts of using the internet for of?ce communication.
10. List four forms of retail businesses that a school leaver may engage in.