Do you think the same person who receives cash payments should also prepare the bank reconciliation?

Do you think the same person who receives cash payments should also prepare the bank reconciliation? Give at least one reason to support your answer. Identify a company, business, or organization in your community (it can be one for which you work), and share some...

Explain why a set of financial statements (income statement, statement of owner’s equity, and balance sheet) are useful in evaluating the company’s performance and future planning.

Assume that you recently accepted an accounting position with Target Corporation. As one of your first duties, you have been assigned the responsibility of evaluating the financial statements and making a presentation to department leaders. Use the following link...

Calculate the following ratios for two years, the current ratio, quick ratio, debt to total asset, gross profit percentage, net profit margin, sales, earnings per common share, dividend payout ratio and net profit margin

Calculate the following ratios for two years, the current ratio, quick ratio, debt to total asset, gross profit percentage, net profit margin, sales, earnings per common share, dividend payout ratio and net profit margin. For each ratio, explain what the ratio tells...

Select a publicly-traded company that is traded on U.S. exchange. Locate the annual report for at least the last three fiscal years.

Select a publicly-traded company that is traded on U.S. exchange. Locate the annual report for at least the last three fiscal years. Analyze the financial statements for the company and review for large movements in specific accounts from one year to the next. In...

If you were to open a small business with the knowledge and skills you have acquired to this point, would you prefer to keep your accounting records on the cash basis or the accrual basis?

If you were to open a small business with the knowledge and skills you have acquired to this point, would you prefer to keep your accounting records on the cash basis or the accrual basis? Reflect on the differences between cash basis and accrual basis accounting, and...

You are the managerial accountant at Reliable Company. You have been assigned to support the marketing department and manage its master budget

You are the managerial accountant at Reliable Company. You have been assigned to support the marketing department and manage its master budget. The marketing department is responsible for the following:   Managing the firm’s marketing Hiring subcontractors...

If you were the accountant at your current (or former) place of employment, would you prefer to use static or flexible budgeting?

If you were the accountant at your current (or former) place of employment, would you prefer to use static or flexible budgeting? Explain your rationale and the factors that drive your choice.       Your journal entry must be at least 200 words in...

How did you calculate the original operating income and break-even point before changes?

You are the plant accountant for a company that makes a popular brand of basketball shoes. Currently, your company sells 1,000 pairs of shoes each month for $100 apiece. The variable costs are 40% of sales, and the fixed costs are $35,000/month. The company’s...

Discuss if you think ABC Manufacturing is properly using the budget process to plan for next year’s expenses.

Discuss if you think ABC Manufacturing is properly using the budget process to plan for next year’s expenses. Discuss the comment about the president cutting the budget each year in terms of proper leadership and control? Discuss the ethical issues related to...

Calculate the contribution margin (CM) for each of the three products sold at the cookie business.

Part 1: Based on the data presented in the Spreadsheet Template in Excel (CM Breakeven tab):   Calculate the contribution margin (CM) for each of the three products sold at the cookie business. Calculate the weighted average CM. Calculate the breakeven point....

ACCT 310 Unit 1 Assignment

This list contains costs that various organizations incur; they fall into three categories: direct materials (DM), direct labor (DL), or overhead (OH).   Classify each of these items as direct materials, direct labor, or overhead, and provide the rationale for...

Identifying Financial Information for a Company – FIN/571: Corporate Finance

Select a Fortune 500 company or another company you are familiar with. Consider pharmaceuticals, computer hardware, retail, or automotive industries for your selection. If you choose a company that is not in the Fortune 500, ensure that enough financial information...