What advantages does a virtual close provide

Assignment Help Accounting Basics
Reference no: EM13512336

Some companies employ technologies that allow them to do a so-called "virtual close." This enables them to close their books nearly instantaneously any time during the year. What advantages does a "virtual close" provide?

Reference no: EM13512336

Questions Cloud

Estimate the mass of the wire : The upper end of a 3.20m--long steel wire is fastened to the ceiling, and a 58.0kg- object is suspended from the lower end of the wire, What is the mass of the wire
Write two accounting equations to show the effects : Bob Martin, P.A., collected cash on account from a client for whom the business had provided delivery services one month earlier.
Indicate whether it is a financing or operating : Braxton Corp. was organized on January 1, 2010, to operate a limousines service to and from the airport. For each of the following business activities, indicate whether it is a financing (F), investing (I), or operating (O) activity.
Journalize and post the entry on july 1 : On July 1, 2012, Ryhn Co. pays $12,400 to Craig Insurance Co. for a 2-year insurance contract. Both companies have fiscal years ending December 31. For Ryhn Co., journalize and post the entry on July 1 and the adjusting entry on December 31
What advantages does a virtual close provide : Some companies employ technologies that allow them to do a so-called "virtual close." This enables them to close their books nearly instantaneously any time during the year. What advantages does a "virtual close" provide?
What is the tangential force : A flywheel comprises a uniform circular disk with a mass of 99.0 kg and a radius of 1.0 m. It rotates with an angular velocity of 1472 rev/min. what is the tangential force
Determine the stockholders equity of campbell soup : Campbell Soup Co. had the following assets and liabilities (in millions) as of August 3, 2003.
How fast does a wave crest travel past the fisherman : A water wave traveling in a straight line on a lake is described by the equation y(x,t)=(3.75cm)cos(0.450cm^-1 x+5.40s^-1t), How fast does a wave crest travel past the fisherman
Enable the company to meet targets for revenue : The company"s marketing manager, Chris Ahrentzen, suggests running a promotion selling $50 gift cards for $45. He believes that this would be very popular and would enable the company to meet its targets for revenue and net income. What do you thi..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Journal entries-cayuga meadows

Cayuga Meadows purchased 42,000 shares of common stock of Long Corporation as a long-term investment for $1,000,000. During the year, Long Corporation reported net income of $500,000 and paid dividends of $200,000.

  On february 1 2013 fox corporation issued 9 bonds dated

on february 1 2013 fox corporation issued 9 bonds dated february 1 2013 with a face amount of 200000. the bonds sold

  What is the liability for compensated balances

The company's December 31, 2009 unadjusted balance of liability for compensated absences was $30,000. The company estimated 200 vacation days available and employees earned $150 per day. What is the liability for compensated balances on December 3..

  Firm purchases and exercises

Spears Co. will receive SF1,000,000 in 30 days. Use the following information to determine the total dollar amount received (after accounting for the option premium) if the firm purchases and exercises a put option:

  Formula for interest rate on long term debt

What are the right formula's for interest rate on long term debt, par value of common stock, and dividend policy?

  Make the necessary summary journal entries to record

Historically, warranty expenditures have been equal to 4% of sales. Total sales for the year were $650,000. Actual warranty repairs made during the year totaled $29,000.

  Calculate lead time michigan machining company machines

calculate lead time michigan machining company machines metal parts for the automotive industry. under the traditional

  Chang corp had 500000 shares of common stock outstanding

chang corp. had 500000 shares of common stock outstanding. during 2012 it had the following transactions that affected

  Joe fast started a mobile snack food service on january 2

joe fast started a mobile snack food service on january 2 2006 investing 15000 cash depositing in a bank account in the

  Fiscal year without negative tax effects

How much salary must Gander pay Patrick during the period November 1 through December 31, 2008, to permit the corporation to continue to use its fiscal year without negative tax effects?

  Case study of revson corporation

Revson Corporation purchased land adjacent to its plant to improve access for trucks making deliveries. Expenditures incurred in purchasing the land were as follows:

  Sole-proprietorship business

You have started a sole-proprietorship business. Itis a department store selling groceries. You receive payment for the sales made either through a credit card or cash. You pay your suppliers on a credit basis of 30 days. To efficiently manage acc..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd