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You made it through your first two weeks as a controller. It is May 15th and the end of month is May 31st. The prior controller took two weeks to close the books and management has found this unacceptable. The pressure is on to get the close down to five days.
Question 1: Discuss some processes and procedures that you could get in place to begin to get the process down to five days. What resources might you consider? As a new controller, describe the documentation you should review with regards to your department.
Question 2: What are some processes that could be outsourced? Discuss some pros and cons of outsourcing various functions.
Estimate the projects net cash flows over its five-year estimated life - What are the project's NPV and IRR? (Assume for now that the project has average risk.
AirPro Corp. reports the following for November. Actual total factory overhead incurred $ 28,175 Standard factory overhead: Variable overhead $ 3.10 per unit produced Fixed overhead ($12,000/12,000 predicted units to be produced) $ 1 per unit Predict..
How much revenue would Gonzales Company report related to this contract on its income statement for the year ended December 31, 2013? How much would it report as cash flows from operating activities for 2013?
part-1greentown industries sells its transport services at a range of prices to 5 different customer groups. the
Prepare an analysis that explains the change in retained earnings from $85,777 million at the end of fiscal 2014 to $90,021 million at the end of fiscal 2015.
The transaction has commercial substance. Use this information to form General Journal entries to record the events for December 31, 2018.
Prepare an Income Statement, Statement of Retained Earnings and a Balance Sheet. Prepare closing entries in journal format and post to the T Accounts. Prepare a Post-Closing Trial Balance.
The management of Tinker Inc. asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2014, the accounting records show these data. Prepare comparative condensed income statements for 2014 under FIF..
What was the average price paid per share in mutual funds? How much has Sarah invested in mutual funds?
Tax Rates. Latesha, a single taxpayer, had the following income and deductions for the tax year 2016: INCOME: Salary $80,000 Business Income 25,000 Interest income from bonds 10,000 Tax-exempt bond interest 5,000 TOTAL INCOME 120,000 DEDUCTIONS:. For..
the company spends another $27,000 on this truck for the sole purpose of extending its life by three additional years. How is this expenditure recorded?
Kobe is a single dad with two dependent children, Lizzie, age 7 and Leslie, age 3. He has AGI of $51,000 and paid $6,300 to a qualified day care center. What amount of credit can Kobe receive for the child and dependent care credit?
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