...BLUMENGARTEN (BLG) – Phase 5 Group P2 MEMORANDUM To: Professor Teri Ziegler From: Group P2 Subject: Year 4 and 5 Analysis for BLG Date: October 21, 2011 The purpose of this memorandum is to compare the income summaries from the first 3 years of operation for comparison and analysis and to make predictions for year 5. Attached are supporting materials for further analysis. * BLG Year 4 Income Summary, page * Growth Comparison Chart, page * Target Profit Analysis, page * Sensitivity Analysis, page * Flexible Budget for Year 5, page * Returns on Hours and Investments, page The Target Profit Analysis (pg. XX), provides the number of containers that BLG would have needed to sell to meet a target profit of $40,000. Actual sales of small, medium, and large containers in year 4 were 109, 122, and 35, respectively. Based on calculations from the Analysis (pg. XXX) Sales necessary to meet the goal were 140, 157, 44. Even though this goal was not met, BLG was capable of achieving the target profit of $40,000 in year 4. The Growth Comparison Chart (pg. XX) displays that from year 2 to year 3 BLG increased container sales by 156%. Growth was only 45% from years 3 to 4, while the target profit required 85% growth. Because the growth necessary was less than the historical growth rate, BLG could have feasibly reached a target profit of $40,000. A Sensitivity Analysis (pg. XX) was prepared to examine how sensitive net income is to changes in cost...
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...ACCT 212 (FINANCIAL ACCOUNTING) COMPLETE COURSE A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=financial-accounting-complete-course Visit Our website: http://hwsoloutions.com/ Product Description ACCT 212 (FINANCIAL ACCOUNTING) COMPLETE COURSE, ACCT 212 COURSE PROJECT 1 PART A WEEK 3 ACCT 212 COURSE PROJECT 1 PART B WEEK 5 Scenario: You’ve just secured a new client in your accounting practice, the Rawls Repair Corporation, (RRC) a brand new small business specializing in bicycle repair… ACCT 212 Course Project 2 Week 7 P13-50A Top manager of O’Hare Products, Inc., have asked for your help in comparing the company’s profit performance and financial position with the average… ACCT 212 Midterm Exam (TCO 1) The Accounting Equation is used to develop the organization’s financial reports. (1) Describe what owners’ equity values would be if Assets are $100,000 and Liabilities are $27,000 by showing the Accounting Equation (10 points) and (2) provide an explanation of what accounts could be found in owners’ equity. (10 points) (Points : 20) (TCO 1) The Accounting Equation is used to develop the organizations financial reports. (1) Describe what assets value would be if Liabilities are $12,000 and Owners’ Equity is $50,000 by showing the Accounting Equation (10 points) and (2) provide an example of two asset accounts that could contain the value. (10 points) (Points : 20) (TCO 1) The financial statements present a company to the public in financial...
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...CheckPoint: Accounting Information Systems and Special Journals QS 7-1 and 7-3 and Exercises 7-1, 7-4, 7-7, and 7-10 QS 7-1 Place the letter of each system principle in the blank next to its best description. A. Control principle D. Flexibility principle B. Relevance principle E. Cost-benefit principle C. Compatibility principle 1. The principle prescribes the accounting information system to change in response to technological advances and competitive pressures. D. Flexibility principle 2. The principle prescribes the accounting information system to help monitor activities. A. Control principle 3. The principle prescribes the accounting information system to provide timely information for effective decision making. B. Relevance principle 4. The principle prescribes the accounting information system to adapt to the unique characteristics of the company. C. Compatibility principle 5. The principle that affects all other accounting information system principles. E. Cost-benefit principle QS 7-3 Identify the most likely role in an accounting system played by each of the numbered items 1 through 12 by assigning a letter from the list A through E on the left: A. Source documents B. Input devices C. Information processors D. Information storage E. Output devices 1. Bar code reader –B. Input devices 2. Filing cabinet –D. Information storage 3. Bank statement –A. Source documents 4. Computer scanner –B. Input devices 5. Computer keyboard –B....
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...ACCT 212 Final Exam Ratings: (0)|Views: 472 |Likes: 0 Published by ssdasdasdas See more ACCT 212 Final Exam / FinancialAccounting Click this link to get the tutorial:http://homeworkfox.com/tutorials/business/15355/acct-212-final-exam-financial-accounting/ 6. (TCO 6) Depreciation is a process to allocate the cost of long-life assets to each period'sincome statement and adjusts the value of the asset on the balance sheet. (1) Explain how thestraight-line method is computed (10 points) and (2) provide an example of how this methodcould be used on a new delivery truck purchased for $25,000 to be used for 4 years with asalvage value of $0 for year one only. (15 points) (Points : 25) 7. (TCO 6) To raise capital, companies might sell bonds. This allows them to bypass lenderssuch as banks and go directly to the investing public. Your company is planning to sell bondswith a face amount of $10,000 and paying 5% annual interest. (1) The day the bonds hit themarket, the bond price is quoted at 101.5. What is the bond's selling price? (10 points) and (2)how does the company record this sale in its accounting information system? Use journal entriesto support your answer. (15 points) (Points : 25) 8. (TCO 1) Financial statement analysis is used by investors, creditors, and managers of businessto evaluate the operation and health of the business. This information is in part the basis for decision-making. (1) Identify ratios used to evaluate the profitability of a company (10 points)and...
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...to lifelong success. It’s all about opportunity. Accounting professionals can work in any sector, anywhere in the world. And when you choose CGA, you’ll gain the leadership, problem-solving and technical skills that are sought after by organizations in the private, public and not-for-profit sectors. The CGA Program of Professional Studies gives you the tools to succeed in business, no matter where your career takes you. You’ll enter the workforce with the applied knowledge and demonstrated expertise that employers want, including specialized technical knowledge, sectorspecific competencies, problem-solving skills and the ethical integrity to lead. CGA’s competency-based curriculum is simply your best way to prepare for a rewarding career in financial management. Flexible study options and the freedom to choose the career you want CGA is all about choice. You choose the professional-studies path and real-world experience that best match your career goals and interests. We give you the skills and freedom to work in any type of organization, in any industry, at any level of management. With a CGA designation, your opportunities—both professional and personal, at home and around the world—are limitless. Take your place as a highly respected member of the business world. Karmen Rempel, CGA Manager Grant Thornton LLP Vancouver, British Columbia Why CGA? There are many reasons why CGA is the fastest-growing accounting designation in Canada. With CGA, you can: 1. Pursue...
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...Accounting Information Systems and Special Journals Student Name ACC 225 Date Teachers Name Accounting Information Systems and Special Journals QUICK STUDY 7-1 Place the letter of each system principle in the blank next to its best description. A. Control principle D. Flexibility principle B. Relevance principle E. Cost-benefit principle C. Compatability principle 1._D_ The principle prescribes the accounting information system to change in response to technological advances and competitive pressures. 2._A_ The principle prescribes the accounting information system to help monitor activities. 3._B_ The principle prescribes the accounting information system to provide timely information for effective decision making. 4._C_ The principle prescribes the accounting information system to adapt to the unique characteristics of the company. 5._E_ The principle that affects all other accounting information system principles. QUICK STUDY 7-3 Identify the most likely role in an accounting system played by each of the numbered items 1 through 12 by assigning a letter from the list A through E on the left: A. Source Documents _B _ 1. Bar Code Reader B. Input Devices _D _ 2. Filing Cabinet C. Information processors _A _ 3. Bank Statement D. Information Storage _B _ 4. Computer Scanner E. Output Devices _B _ 5. Computer Keyboard _D _ 6. Zip Drive _E _ 7. Computer Monitor _A _ 8. Invoice from a...
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...CHAPTER 2: MANAGERIAL ACCOUNTING CONCEPTS/JOB COSTING ANSWERS TO QUESTIONS 1. The major differences between managerial and financial accounting are: |Financial Accounting |Managerial Accounting | |External users of information—usually stockholders, financial|Internal users of information—usually managers. | |analysts, and creditors. | | |Must comply with generally accepted accounting principals. |Need not comply with generally accepted accounting principles| | |Internal cost-benefit evaluation deter-mines how much | | |information is enough. | |Uses historical data. |May use estimates of the future for budgeting and decision | | |making. | |Summary data are presented. |More detailed data are provided about product costs, | | |revenues, and profits. | 2. The three elements of costs incurred in manufacturing a product...
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...Cost Accounting Tabitha Smith ACC 310 Christine Errico January 12, 2011 Cost Accounting What is cost accounting? Cost accounting as referred to as managerial accounting is a system of accounting used specifically by managers (Lanen, Anderson, & Maher, 2011, p. 6). Cost accounting measures, records and reports information about costs to help managers to form a well informed decisions for an organization (Lanen, Anderson, & Maher, 2011, p. 6). Cost accounting methods and their use, budgets including discipline, construction, and elements, and variance analysis are important aspects of cost accounting as a whole, which is an important tool for a successful organization. The main goal of cost accounting is to help managers to maximize value within their organization (Lanen, Anderson, & Maher, 2011, p. 3). One of the fundamental services of cost accounting is to provide information to the manager to guide them to make effective valuable decisions (Lanen, Anderson, & Maher, 2011, p. 3). An essential objective of cost accounting is to create an effective value chain (Lanen, Anderson, & Maher, 2011, p. 4). A value chain is a set of activities in which raw materials are converted into goods and services for consumers to purchase (Lanen, Anderson, & Maher, 2011, p. 4). An organization is responsible to coordinate with their vendors and suppliers along with their distributors and customers to accomplish their objective (Lanen, Anderson...
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...ABUBAKAR TAFAWA BALEWA UNIVERSITY BAUCHI, SCHOOL OF MANAGEMENT TECHNOLOGY DEPARTMENT OF ACCOUNTING AND FINANCE. COURSE TITTLE: COST ACCOUNTING (BAT 212) ASSIGNMENT QUESTION:- WITH A CASE STUDY, DISCUSS THE IMPORTANCE AND APPLICATION OF COSTING TECHNIQUES IN HOSPITALITY INDUSTRY IN NIGERIA? (CASE STUDY OF YANKARI MASS TRANSIT CORPORATION) By Nwankwo Stephen c. TABLE OF CONTENTS 1.0 INTRODUCTION 1.1 Background of the assignment 1.2 Purpose/objectives of the assignment 1.3 Definition of the term 1.4 Historical background of the case study ABSTRACT The aim of the assignment is to find out the importance of using costing techniques such as operating costing, standard costing, direct costing, absorption costing etc. in one of the sub-sector of Nigerian economy(hospitality). And also to identify the techniques adopted by the hospitality industry and it’s important to the organization. INTRODUCTION 1.1 BACKGROUND OF THE ASSIGNMENT The hospitality industry is a broad category of fields within the service industry that include lodging, transportation, and additional fields within the tourism industry. Since the introduction of money, people have been concerned with cost. They think of how to manage money. Costing system was first recognized in manufacturing industries with the aim of finding the cost of production or cost of a product, presently, the...
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...INTERMEDIATE ACCOUNTING I (ACC 221) 21 Aug 2013 - 15 Oct 2013 TEACHER: Dr. Joseph L. Ilk, CPA, CMA, CVA, CPCM TELEPHONE: Office: (703) 805-4473 Home: (540) 582-6008 E-mail: jilk@nvcc.edu If you e-mail me, please put “ACC 221" and either "E40W" or "E80W" ” in the subject line. If you do not I will not recognize the e-mail and will delete the file. The student needs to put their First and Last Name in the e-mail so I know who it came from. OFFICE HOURS: Mon-Fri 8:00 p.m. - 9:00 p.m.I check my e-mail (jilk@nvcc.edu) every day. NOVA IT Helpdesk: (703) 426-4141 CONNECT HELPDESK: (800) 331-5094 PRE-REQUISITES: ACC 212 - Principles of Accounting II I. THE COURSE: ACC 221, intermediate accounting covers accounting principles and theory, including a review of the accounting cycle and accounting for current assets, current liabilities, and investments. Introduces various accounting approaches and demonstrates the effect of these approaches on the financial statement users II. SCOPE: The study will cover but not be limited to the following areas: Theoretical structure of financial accounting Time value of money Review of the accounting process Cash and receivables Balance sheet Inventories Income statement Plant, property, and equipment Cash flow statement Investments Income measurement and profitability analysis III. Course Learning Objectives: * Comprehend the environment and theoretical...
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...products). 3. Operating departments are directly involved in manufacturing or selling the products or services of a business. Service departments support operating departments through activities such as accounting, payroll, and legal services. 4. Activity-based costing (ABC) is a method for allocating shared costs among departments or products. It is especially common for overhead allocation. The goal of ABC is to provide reliable information about costs and their sources. One advantage of ABC is that it forces managers to examine the behavior of cost drivers and cost levels, with the result that costs are more likely to be managed effectively. 5. Anything to which costs would be assigned is considered a “cost object.” Common cost objects are units of product, product lines, departments, activities, and projects. 6. An activity cost driver is the measure of the activity that causes costs to be incurred. For instance, the activity driver for the activity “printing checks” might be number of checks printed. 7. Activity-based costing is typically used when a company produces many different and complex products or when products are directed at many different types of customers. 8. Typical activity cost pools include: purchasing, order processing, accounting, engineering, factory maintenance, and legal services (other answers are possible)....
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...Table of Contents Rpt. 25810062 14-Apr-2015 SAREPTA THERAPEUTICS INC COWEN AND COMPANY - BARAL, RITU, ET AL 4-8 Rpt. 25767315 06-Apr-2015 SAREPTA THERAPEUTICS INC ROTH CAPITAL PARTNERS, LLC - CHATTOPADHYAY, DEBJIT, ET AL 9 - 21 Rpt. 25736145 01-Apr-2015 SAREPTA THERAPEUTICS INC CANACCORD GENUITY - RESEARCH DEPARTMENT 22 - 28 Rpt. 25736256 01-Apr-2015 SAREPTA THERAPEUTICS INC PIPER JAFFRAY - COMPANY REPORT - TENTHOFF, EDWARD, ET AL 29 - 32 Rpt. 25733910 01-Apr-2015 SAREPTA THERAPEUTICS INC COWEN AND COMPANY - BARAL, RITU, ET AL 33 - 37 Rpt. 25736405 01-Apr-2015 SAREPTA THERAPEUTICS INC CREDIT SUISSE - NORTH AMERICA - SHEPARD, JEREMIAH, ET AL 38 - 56 Rpt. 25732665 01-Apr-2015 SAREPTA THERAPEUTICS INC RBC CAPITAL MARKETS (CANADA) - SIMEONIDIS, SIMOS, ET AL 57 - 62 Rpt. 25732827 01-Apr-2015 SAREPTA THERAPEUTICS INC JMP SECURITIES LLC - COMPANY REPORTS - BAYKO, LIISA 63 - 67 Rpt. 25735100 01-Apr-2015 SAREPTA THERAPEUTICS INC OPPENHEIMER AND CO - RESEARCH DEPARTMENT 68 - 72 Rpt. 25736008 01-Apr-2015 SAREPTA THERAPEUTICS INC RBC CAPITAL MARKETS (CANADA) - SIMEONIDIS, SIMOS, ET AL 73 - 78 These reports were compiled using a product of Thomson Reuters www.thomsonreuters.com 1 Table of Contents Rpt. 25736195 01-Apr-2015 SAREPTA THERAPEUTICS INC WILLIAM BLAIR & COMPANY - LUGO, TIM, ET AL 79 - 83 Rpt. 25736196 01-Apr-2015 SAREPTA THERAPEUTICS INC LEERINK PARTNERS LLC - SCHWARTZ...
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...system is not appropriate because workers could not physically differentiate between the products being worked on in different orders. 5. Work in Process 6. Materials should not be issued by the storekeeper without a properly authorized materials requisition. Both the storekeeper and the recipient of the materials should initial the materials requisition when the materials are issued to indicate release of the proper amount of materials from the storeroom. 7. a. Purchase invoice or receiving report b. Materials requisition 8. A job cost sheet is the subsidiary ledger to the work in process control account. The cost of materials, labor, and overhead are listed on the job cost sheet for each job. A summary of all the job cost sheets during an accounting period is the basis for journal entries to the control accounts. 9. a. The clock card is a means of recording the hours spent by employees in the factory. The time ticket is a means of recording the time the employee spends on a specific job or, in cases of indirect labor (factory overhead), the department in which the time was spent. b. The total time reported on an employee’s time tickets for a payroll period is...
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...Journal of Trade, Economics and Finance, Vol. 1, No. 1, June, 2010 2010-023X 103 Abstract—Nowadays the business world is changing at a faster and faster pace. The reasons given for this is globalization, highs information technology (IT) investments and the rapid pace of technological change. Organizations are responding in different ways and at different rates to the wide range of IT based opportunities and pressures. The purpose of this paper is to focus on the effects of IT related organizational changes on the management accounting function and to contribute to the body of knowledge about to what extent IT affects the ability to solve accounting tasks. The relationship between IT and accounting practices was investigated qualitatively using six case studies and we will measure the impact of IT on accountants’ tasks. The findings suggest a tendency for change and the decentralization of accounting tasks. Index Terms—Accounting, Accounting Information Systems, Financial Documents, Information Technology, Management Information System. I. INTRODUCTION Nowadays the business world is changing at a faster and faster pace. The reasons given for this is globalization, highs IT investments and the rapid pace of technological change in combination with escalating costs of research and development (Frishamar, 2002). The role of information technology (IT) has shifted over the last decades (Teng & Calhoun, 1996) to become an important part of how companies manage...
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...Bartlett's Test of Sphericity shows the value of significance sig=.000 which reflects the strong correlation between household behavior and shopping behavior and rejects the null hypothesis. In the communalities table, the initial is by definition, always equals to 1. While in the extraction column, variables with high values are well represented in the common factor space. In the above table of communalities, all variables have high values, near to 1, and thus are well represented. The screen plot graphs the eigenvalue against the component number. You can see these values in the first two columns of the table immediately above. From the third component on, you can see that the line is almost flat, meaning the each successive component is accounting for smaller and smaller amounts of the total variance. In general, we are interested in keeping only those principal components whose eigenvalues are greater than 1. Components with an eigenvalue of less than 1 account for less variance than did the original variable and so are of little use. In the case of above table, three principal components; 1, 2 and 3 are kept. Explain the model...
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