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Question
Five college seniors with main in accounting are discussing alter - native career plans. The first senior plans to develop an internal revenue agent for the reason that his primary interest is income taxes. He considers the background in tax auditing will offer him with better exposure to income taxes than will any other available career choice. The second senior has decided to go to labor for a CPA firm for at least 5 years possibly as a permanent career. She considers the variety of experience in auditing as well as related fields offers a better alternative than any other available choice. The third senior has obvious on a career in internal auditing with a large industrial company for the reason that of the many different aspects of the organization with which internal auditors become involved. The fourth senior plans to come to be an auditor for the GAO because she believes that this career will provide excellent experience in computer risk assessment techniques. The fifth senior plans to chase some aspect of auditing as a career but has not decided on the type of organization to enter. He is particularly interested in an opportunity to continue to grow professionally however meaningful and interesting employment is also a consideration
a) What are the major advantages besides disadvantages of each of the four types of auditing careers?
b) What other kinds of auditing careers are available to those who are qualified?
Determine the contribution margin per TV? Estimate total profit considering production and sales of 150 unties.
Determine the cost of direct materials used during April. Refer to Jenkins Company. Using actual costing, evaluate the cost of the units completed during April and transferred to the finished goods storeroom.
Evaluate Maxwells minimum 2013 net income for tax purposes, federal income tax and taxable income.
All operating costs are variable as a percentage of total sales.
Will the decision about the transfer price affect consolidated total income? Which technique would be easiest for the company's accountant to administer? As the company's accountant, what advice could you provide to these officials?
Determine how the disclosure should be treated in this instance. Examine what effect this would have on the financial statements.
Prepare bank reconciliation for Donovan Company for September which reconciles the balance per books and the balance per bank to their adjusted accurate balances.
Determine the positions taken by Amos and Susan and by the IRS agent with respect to the Lear jet deduction.
How should profit or loss on early extinguishment of debt be evaluated? Does the early extinguishment of the 7 percent bonds result in a gain or loss? Describe.
What could be your response to the CEO
Evaluate the predetermined overhead rate for the year. Break the rate down into fixed and variable components.
Write the journal entry to record Tanner-UNF's investment in the bonds
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