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Question - You are the controller of a vitamin manufacturer with about $10 million of sales and a net income of $2 million. Sales are made to wholesalers throughout the country. Your accounting team consists of three other employees who, respectively, handle accounts receivable/sales, accounts payable/inventory, and payroll.
The accounts payable/inventory clerk has been out for a medical procedure and the other two employees had to pick up the slack. At the December 31st end of fiscal year, everything looked good, and the books were closed, On February 28th, the auditors presented a report that contained a clean opinion. On March 10th, almost two and a half months after the year-end, a shipment of vitamins was returned. The vitamins, which were shipped on December 15th of the previous year, were found to be moldy. Because this is a major customer, the president insisted that the $100,000 purchase price be refunded. Do you restate the financial statements? What are the ramifications of your decision, both if you do restate and if you decide not to? If bonuses are involved, would that change your opinion?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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