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As the management accountant at AJack Partnership, you are involved in the planning and control of financial statements and cost accounting. AJack has been experiencing excellent sales and profit numbers. You have decided to invest and purchase stock in the company. The direct investment would not be material to the company, but it would be material to you. In your free time, you like to go to the local Gambling and Jack Box Boat.
Do you think that you should face the same integrity issues that an outside auditor faces with respect to conflicts of interest? Why, or why not?
As an employee of the firm, do you believe that you should refrain from engaging in questionable activities, such as gambling? Why, or why not?
Do you believe that internal management accountants possess the degree of skill commonly possessed by outside accountants and auditors? Explain your reasoning.
The Vice President of Operations would like to increase profitability, improve customer service, and expand the business. Discuss the role of performance measures in an organization.
As the management accountant, you are responsible for setting costs for your manufacturing company's products, prior to setting the budget for the upcoming year.
How do you suppose the owner came up with $400 as the loss for the next year if the new pizza oven were purchased? Explain. Criticize the owner's analysis and decision.
If it is assumed that the production complex has an estimated life of 20 years and a residual value of zero, compute the straight-line depreciation in 2010.
Tunney Industries can issue perpetual preferred stock at a price of $50 a share. The issue is expected to pay a constant annual dividend of $3.80 a share.
Compute the number of units of product to be produced during October. Compute the number of pounds of raw materials to be purchased during October.
What is a rolling budget? Why are they prepared? Describe why some types of companies would employ a rolling budget instead of a master budget.
In manufacturing environment, which cost are direct and which are indirect in product costing? What is the objective of allocating indirect manufacturing overhead cost of product?
Describe how they are similar and why there are differences. Also, include specific examples of how and when to apply the principles of both types of accounting.
Comment on the employ of functional versus absorption income statement. Explain the differences in presentation and employ of each type of income statement. Describe the contribution margin concept or computation and when to use the information.
Roland Andersson is the manager of the Ekland Division of Ystad Industries. His one of several managers being considered for position of CEO, as the current CEO is retiring in a year.
Write a memo to your senior staff advising them of your desire to approach performance measurement from a balanced scorecard perspective.
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