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Topic 1
We are introduced to accounting information systems (AIS). Find an article in the KU Library that discusses why AIS is important to businesses. Identify and discuss at least 3 reasons why AIS is an important area of study for future accountants to help improve business operations. Do not forget to note your source
Topic 2
Enron was one of the most publicized fraud cases of the late 20th century; it was so serious that it not only led to its own demise, but to the dissolution of Arthur Andersen, one of the (then) "Big Five" CPA firms. Enron and related cases led to the most sweeping legislation impacting the accounting profession since the 1930s: the Sarbanes-Oxley Act of 2002. In "Trials and Tribulations of Enron and S-Ox" (Forbes, 23 January 2006), Pitt stated: "The principal deficiencies that led to Enron's demise are easy enough to catalog. They include . . . a serious lack of meaningful internal controls."
Pam is a high school student who delivers papers to earn some money. How much is the value added to the papers delivered? What is valuable for the customers
Earth-move Ltd, a building business, intends to purchase a new excavator machine for $550,000. How many years will the payback period be
The balance in the allowance for sales returns account at the beginning of 2015 was $24,000. What is the balance in the allowance for sales returns account
On January 1, 2018, a company received 2,000,000, 12% notes. The effective interest rate for similar notes is 11%. How much is the total amount of receivables
What is the difference in before-tax income between the CEO and Heather's treatment of the situation? Discuss Heather Meyer's ethical dilemma
In the statement of retained earnings for 2022, what amount should be reported as the pretax cumulative effect of this accounting change
Each unit requires 0.5 hours of direct labor. The direct labor rate is $14 per hour. Compute the budgeted direct labor cost for the first quarter budget
Identify similarities and differences between the acid-test ratio and the current ratio. Compare and describe how the two ratios reflect a company's ability.
Assume the local DHL delivery service hub has the following information available about fleet miles and operating costs: Use the high-low method to develop a cost-estimating equation for total annual operating costs. (Let X = annual fleet miles.)
(Journal entries and financial statements for an Enterprise Fund) The Metro Central Railroad is a commuter railroad that stops at the Village of Katonah.
Mr. Martin owns investment in various corporations. At this time the shares are trading at $20 per share. What is the taxable income for Mr. Martin
How was fraud detected in the Steinhoff International case ? What was the opportunity that led the fraud to happen? Rationalization of those who committed?
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