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1) If you were given complete authority, how would you propose that generally accepted accounting principles (GAAP) should be developed and enforced in comparison with how the principles are now developed? What issues do you see with the way the current system handles this process? Please provide reference in APA format and make it about 300 words.
2) Employees are paid every Saturday for the preceding work week. If a balance sheet is prepared on Wednesday, December 31st, what does the amount of wages earned during the first three days of the week (12/29, 12/30, 12/31) represent? Explain. What journal entry would be made for the days worked and what entry would be made when the wages are paid on Saturday?
3) If you were a potential investor and could only review one financial statement of a company in which you would like to buy stock, which financial statement would you choose and why? Be specific with your answer and provide about 250 words.
4) Identify three situations in which accounting measures are based on present values. Do these present value applications involve single sums or annuities, or both single sums and annuities? Explain. Be brief and provide 200 words and provide reference in APA format.
AGL has published an annual sustainability report since 2004 to communicate sustainability performance in the areas of customers, community, people, economic, climate change and environment.
How does FASB and IFRS standards differ from on another? If the US adopted the IFRS standards what are the advantages and disadvantages?
Describe the major methods of developing the advertising budget. Make sure you take the position on which method you think is best and why.
Toni Rankin has been elected to handle the local Little Theater summer play. The theater has a maximum capacity of 1,000 patrons.
Illustrate out the benefits of activity-based costing. Write down the limitations of activity-based costing.
Select a "market segment". Research demographic and psychographic information regarding this segment.
A company purchased a trunk on Jan 1, 2002 for $40,000. The truck has an estimated life of 6 years and an estimated residual value of $4,000.
Stanley Works is one of the companies you looked at in the job-order costing vs. process costing. Which type of costing do you think that company uses, process costing or job-order costing?
Planning strategies for the audit
Beta Company produces two products, A and B, each of which uses materials X and Y. The following unit standard costs apply: Calculate the material price and usage variances for the month. Calculate the labor rate and efficiency variances for the mont..
After reviewing its cost structure (variable costs of £7.50 per unit and monthly fixed costs of £60,000) and its potential market, the Forecast Company established what it considered to be a reasonable selling price.
Suppose a fixed cost of $900, a variable cost of $4.50, and selling price of $5.50. Find out the break even point? How many units should be sold to make a profit of $500.? How many units should be sold to average $.0.25 profit per unit? .50 per un..
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