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For the BakFirn Corporation, an accounting audit of accounts payable, vendor invoices, and inventory material acceptance is in progress. You notice that the three-way-match of pricing, amount, and units is not matching. You go to your next-level supervisor-the supervisor of the audit firm YOUCPA-and the supervisor informs you that you do not need to worry so much because they are not within the materiality amounts. He requests that you complete the outside audit as quickly as possible; the firm is under a tight budget with this client.
• What do you believe your response should be in this situation?
• Explain your reasoning.
• Develop a thorough understanding of accounting standards and principles.
• Fulfill the core accounting educational requirement to sit for the CPA exam.
• Prepare to practice in public and private accounting position.
It sold 150 units for $45 each from March 1 through December 31. If the company uses the Last-In, First-Out inventory costing method, what is the amount of ending inventory on December 31?
What problems are associated with using the average cost per unit as a performance measure? Illustrate what problems are associated with using the variable cost per unit as a performance measure?
Based on the formulas you have reviewed, what happens to contribution margin per unit when unit selling prices increase? Illustrate your explanation with an example from a fictitious company of how an increase in unit selling prices might affect ..
Calculation of Arithmetic ,Geometric Mean and NPV and determine the IRR of the project? (Do not include the percent sign (%). Round your answers to 2 decimal places, e.g. 32.16.)
Prepare an analysis showing what the impact will be on company profits if this tour is discontinued and the company's tour director has been criticized because only about 50% of the seats on the company's tours are being filled as compared to an aver..
Effect on the contribution margin per unit and the contribution margin ratio and calculation used in a CVP analysis is the breakeven point.
What amount should the rights be reported in the consolidated balance sheet and What effect does the dividend have on the retained earnings and minority interest balances in the parent company's consolidated balance sheet
What is the current yield on the bonds?
On July 15, 2011, M.W. Morgan Distribution sold land for $36 million that it had purchased in 2006 for $25 million. Illustrate how would the above amount differ if the company were using indirect method?
Prepare a report that will be of more value in analyzing and appraising the performance of the manager of Department D for October. Comment on the operating results.
Illustrate what is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2007?
Approximately, 30% of the inventory purchased during any one year is not used until the following year: Illustrate what is the noncontrolling interest’s share of rockne’s 2011 income? b.Prepare Doone’s 2011 consolidated entries requir..
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