...Managerial Accounting Writing Assignment Outsourcing Business Operations Outsourcing Business Operations Outsourcing has become a common business practice being utilized by companies all over the world. Outsourcing is when a company decides to contract a different company to make a product or perform a service. Like anything else, outsourcing has its own positive aspects and negative aspects. Because so many businesses have started outsourcing jobs, contract manufacturing, which are manufacturers that specifically build products for other companies, has become an entire industry. Top management needs to weigh the benefits versus the disadvantages when deciding whether to keep the operation in house or have another company handle it. There are many things that need to be taken into account when trying to figure out whether or not to outsource a portion of a business’s operations. Some of the advantages of outsourcing are being able to cut costs and get your product or service done for cheaper, having a company with expertise in the specific area produce your product, and it allows a company to focus on other aspects of their operation. But where there are advantages, there are also disadvantages, such as the loss of quality control, divulging confidential and sensitive information, managerial control over the process, and a drop in employee morale because of any layoffs a company may have to make. Renesas Electronics is the world’s fifth-largest chipmaker and largest...
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...Chapter 12 1P. |$ in millions| Investment in bonds (face amount)|80|| Discount on bond investment||14| Cash price of bonds||66| Cash at .04 x $80 million|3.2|| Discount on bond investment|0.1|| Interest revenue at .05 x $66||3.3| Cash at .04 x $80 million|3.2|| Discount on bond investment|0.11|| Interest revenue at .05 x ($66 + .1)||3.31| Fuzzy Monkey| Book Value| December 31, 2011| Investment in bonds|$80.00M|| Less: Discount on bond investment ($14 - .1 - .11M)|13.79M|| Amortized cost||$66.21M| If Fuzzy Monkey had the “positive intent and ability” to hold their securities until they matured, they will be classified as held to maturity and reported at the amortized cost on the balance sheet versus fair value. Operating cash flows: Cash inflow from interest - $3.2 + $3.2 = $6.4 Interest revenue using indirect method statement of cash flows- $3.3 + $3.31 = $6.61 net income Adjustment using above method - ($.21) Investing cash flows – cash outflow from buying investments of $66 3P. |$ in millions| Investment in bonds (face amount)|80|| Discount on bond investment||14| Cash price of bonds||66| Cash at .04 x $80 million|3.2|| Discount on bond investment|0.1|| Interest revenue at .05 x $66||3.3| Cash at .04 x $80 million|3.2|| Discount on bond investment|0.11|| Interest revenue at .05 x ($66 + .1)||3.31| Fuzzy Monkey| Book Value| December 31, 2011| Investment in bonds|$80.00M| Less: Discount on...
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...pass the final test if I wanted to pass Math class because my in-class grades were not good, and the proportion of the final test took 30% of the total. The conflicts between my mind and heart made me confused because the trade-off costs at that time were the same. In the end, instead of spending time to make that silly decision, I decided not to cheat on the final test and tried my best to finish the exam. Consequently, I got a B plus in total grade and also I realized that if I did cheat on the final test, I would be caught by supervisors. Each job will have their codes of ethics in which professional workers need to qualify in order to maintain the integrity of a profession. Somehow, I believe that the codes of ethics of doctors and accounting are the most relevant principle in which they will have the similarities and differences in two principles. Firstly, both codes of ethics have the restrictions and teach people how to do the right things. For example, accountants need to be loyal to the company while doctors should do the same with their patients. Also, doctors and accountants should always respect the laws and have the responsibilities of their jobs and the rights of customers. To maintain the...
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...Courses in Accounting/Tax Research and Analysis and Accounting/Business Communications September 3, 2014 The Texas State Board of Public Accountancy requires each candidate to complete a minimum of two semester hours in accounting research and analysis or tax research and analysis from a recognized college or university. The semester hours may be obtained through a discrete course or offered through an integrated approach. If the course content is offered through integration, the college or university must advise the Board which course(s) contain the research and analysis content. Courses identified through integration must dedicate 1 semester hour, or quarter hour equivalent, to research and analysis. Courses used to meet this requirement may not be used to meet the requirement for accounting or business communications described below. Course(s) identified by a university to meet the requirements for research and analysis in accounting or taxation should primarily address the identification, organization, and integration of diverse sources of information such as authoritative literature and pronouncements, to reach a conclusion or make a decision; and should analyze accounting and taxation issues by reviewing information, using empirical data and analytical methods, recognizing data in patterned activities, forecasting, and integrating data. CPAs may be asked to conduct research and analysis when providing attest services, professional accounting services, or...
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...Date: 3/5/15 Re: Individual Project – “The History of Double-Entry Bookkeeping” Accounting has played an important role in the evolution of civilization, even before the modern concept of ‘accounting’, as understood by modern man, existed. Man’s drive to measure and record his surroundings required more and more complex means in order to do so (Gleeson-White 11). This drive to more complex recording techniques led to writing, a numeric system, the spread of arithmetic, and created a standard system in an effort to ease international trade. The scope of this paper will focus on the realization of double-entry bookkeeping, a major branch of accounting. Double-entry bookkeeping (DEB) is defined as an accounting system that recognizes both sides of a transaction using equal amounts of debits and credits. Unlike a single-entry system, it tells the whole story of a transaction (Gleeson-White 11). In order to understand how DEB came into existence, one must reflect on history. As stated earlier, man’s natural drive to measure and record events around him led to arguably one of the biggest single leaps in human civilization - writing. Professor Denise Schmandt-Besserat discovered this link between writing and accounting in 1969. Schmandt-Besserat asserts this about her discovery: “the origin of writing is no longer a mystery…contrary to all expectations [no one would have] guessed that writing derived from counting” (Gleeson-White 10). Schmandt-Besserat was researching...
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...2012 ACC/542 Kudler’s Fine Foods is a place that sells wine, cheese, meats, seafood, produce and [in academic writing, if this is a series, place a comma before the final conjunction (and)] [Insert a comma before this word if this is the last in a list of more than two -- or if it begins a new clause] was a [Use "an"] European style bakery. Kudler’s Fine Foods has three locations in the San Diego, California [insert comma] area. Kudler’s Fine Foods was founded [The passive voice is a form of "be" (was) and a participle (founded). Over-use of the passive voice can make paragraphs officious and tedious to read. Prefer the active voice. For example, passive voice = The paper was completed on time. Active voice = the student completed the paper on time. See Center for Writing Excellence > Tutorials & Guides > Grammar & Writing Guides > Active & passive voice] by Kathy Kudler back in 1998. In this paper, four ideas will be addressed. The first on is to find out ["find out" is a "phrasal verb," two words that together mean something different from their individual meanings--looking up each word in the dictionary would not produce the meaning, which could cause misinterpretation in an international business communication. Use other words, like "discover" or simply "found"] what Kudler Fine Foods key business and accounting information needs are. The second is to analyze what strengths and weakness [Misspelling--The plural of "weakness" is "weaknesses"]...
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...Accounting I 280 Solution to Quick Quiz State the four most common forms of business enterprises and briefly describe them. Answer: 1. Sole Proprietorship is an unincorporated business owned by one person. 2. Partnership is an unincorporated business owned by two or more persons. 3. Corporation is a type of business organization recognized under the law as an entity separate from its owners. It provides certain legal protection for the owners against lawsuits brought against the company. They are allowed to do many of the same things any person would be able to do: own land and other property; enter into contracts; sue and be sued in court; pay taxes; conduct business, and so forth. 4. Limited Liability Company (LLC) is a type of business organization recognized under the law as an entity separate from its owners. It has features of both a Corporation and Partnership. It provides certain legal protection for the owners against lawsuits brought against the company. LLCs provide certain tax benefits to the company and the owners. The Sole Proprietorship and Partnership forms are often considered "natural" business forms, because they can be created with only the actions of the owners. The mere conduct of business by an individual creates a Sole Proprietorship automatically. Two or more individuals conducing business together automatically creates a Partnership, although that may not have been the intention of the people originally. Corporations and LLCs are...
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...S c h o o l of Ac c ount a nc y Faculty of Business Writing F O R A C C O U N TA N T S Edited by Di Lewis i This book is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission. © School of Accountancy, QUT 2003 Produced by QUT Publications 232975 8437 ISBN: 1 74107 014 7 ii Contents Preface Accountancy writing and preparation of documents Writing and accountants Determining the Purpose (aim) Investigating Planning the document Writing the document Revising the document Style of professional documents Good and poor writing Audience Tone Language Overwriting (padding) Overgeneralisation Spelling, punctuation and grammar Abbreviations Expressing numbers Paragraphing Headings and sub-headings Quantitative information Recommendations Letter writing for accountants Claim letter Letter of advice Letter of engagement Letter of enquiry Letter of refusal Management letter Memos E-mails Research Essays, Reports and Resumés Research essays Reports Resumés References and Bibliographies iii v 1 1 2 2 7 8 8 9 9 10 10 10 11 11 11 12 12 12 12 12 13 14 16 17 19 21 22 23 24 26 27 27 31 40 41 iv Preface Writing for Accountants is a brief guide to the types of writing that accountancy students and practising accountants are most often called on to do. It is not intended as a definitive text, but rather...
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...running in MIS and the importance of IS to other career paths, I have listed four job openings in MIS and four other ones in Accounting, which is an area that heavily relies on information systems. Careers in MIS Job title: Software quality assurance analyst Skills and knowledge requirements: • Education: Completion of high school, completion of college/CEGEP/vocational or technical training • Experience: 3 years to less than 5 years • Languages: Speak English, read English, write English • Specific skills: Confer with clients to identify and document requirements, conduct business and technical studies, design, develop and implement information systems business solutions, provide advice on information systems strategy, policy, management and service delivery, develop and implement policies and procedures throughout the software development life cycle, conduct reviews to assess quality assurance practices • Computer and technology knowledge: Windows, Intranet, Internet, Multimedia software, Word processing software, Spreadsheet software, Presentation software, Office suites, Electronic mailing software • Work conditions and physical capabilities: Fast-paced environment, work under pressure, tight deadlines, repetitive tasks, attention to detail, combination of sitting, standing, walking • Essential skills: Reading text, document use, numeracy, writing, oral communication, working with others, problem solving, decision making, critical thinking, job task planning and organizing...
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...A SHORT HISTORY OF ACCOUNTING AND BUSINESS By Gary Giroux September 1999 Preface Overview: Accounting toward the 21st century: Where are we now? How did we get here? 1. From the Ancient World to Pacioli The First Cities Trade Tokens: The First Accounting The Sumerians Complex Tokens and Clay Tablets Cuneiform Writing and Beyond Money, Banking and Credit The Dark Ages and the Rise of the Italian Merchants Luca Pacioli: The Father of Accounting 2. Britain and the Industrial Revolution Prior to 1750 Ironbridge Textiles The Steam Engine Wedgwood and the Importance of Cost Accounting Early Cost Accounting Transportation Development of the Accounting Profession 3. American Big Business and Cost Accounting Early Developments in Manufacturing and Accounting Rockefeller Morgan and Carnegie Cost Accounting in the Era of Big Business Alternative Systems in Asia and Europe Relevance Lost: The Critique of Johnson and Kaplan The American Response 4. Financial Accounting and the Structure of Accounting Regulation The Great Crash and Government Response The New Role of the Accounting Profession The Financial Accounting Standards Board Earnings Management and Economic Consequences Accounting Principles and the Conceptual Framework 5. Auditing Auditing in the U. S. The Big...
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...Syllabus School of Business XACC/290 Version 1 Principles of Accounting I Copyright © 2013 by University of Phoenix. All rights reserved. Course Description This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on an enterprise. Students will learn to examine financial information from the perspective of management. Other topics include decision-making, planning, and controlling from the perspective of a practicing manager. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2011). Financial accounting: Tools for business decision making (6th ed.). Hoboken, NJ: John Wiley & Sons. All electronic materials are available on the student website. Week One: Basic Accounting Principles and Concepts Details Due Points Objectives 1.1 Identify...
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...|Sr. No. |Core Areas |Percentage | |1. |Finance |10% | |2. |Accounting |10% | |3. |Marketing |15% | |4. |Management |15% | |5. |Business Maths |10% | |6. |Business Statistic |10% | |7. |HRM |10% | |8. |Business Communication and Report Writing |10% | |9. |Micro Economics |5% | |10. |Macro Economics ...
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...IFRS verses GAAP Gabriel Whatley ACC/290 March 28, 2016 Steven McAlister IFRS verses GAAP International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB), (Rouse, 2011). While, GAAP (generally accepted accounting principles) is a collection of commonly-followed accounting rules and standards for financial reporting. Even though IFRS is a set of accounting standards and GAAP are sets of accounting rules and standards they do differ from each other. Level One Heading Replace the level one heading with the words for your heading. The heading must be in bold font. Headings help your audience track the sub-topics discussed in the body of the essay or report. Begin a new heading for each sub-topic. Be sure to indent the first line of each paragraph between five and seven spaces by pressing the Tab key one time on the keyboard. In addition, remember to double space the entire paper using the double space functionality in Word. This template is already formatted for double spacing. Read more: Center for Writing Excellence>Tutorials and Guides>Software Tutorials and Guides>Formatting Tutorial for APA. In addition, keep in mind an academic essay should contain at least five paragraphs, which includes the introduction (introductory paragraph), the body (which is generally at least 3 paragraphs)...
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...Acct 325 Writing Assignment #1 Professor: Gregory Kunkel The Core Competency Framework The Core Competency Framework for all students who are entering the accounting profession must be proficient in three categories: functional competencies, personal competencies and broad business perspective competencies. All students are required to have technical and soft skills to be successful in their profession. It is my desire to build on my strengths while augmenting my weaknesses in pursuing a career in business and accounting. The one area I would like to improve on is in the criteria of soft skills. Within this criteria I would like to further expand on my verbal communication, business interaction, leadership, problem solving/decision making, professional demeanor and project management. By improving these specific skills I hope to become a well-rounded, career oriented professional. By taking accounting 325, I would like to polish my writing and verbal communication skills. My goal is to go to the writing center on a regular basis, develop my writing skills and expand my interpersonal communication skills with my associates and team members. I also intend to join the Beta Alpha Psi, which is the professional fraternity for financial students and professionals at California State University, Los Angeles. By doing so I would like to cement my public speaking and business assertiveness in a real world environment of like-minded financial individuals. At the end of the course...
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...environment. Employers are starting to place importance on these skills then they are technical accounting skills. This chapter focuses on how accountants should write and how it affects your work and problem solving. It is important to keep in mind that writing is essential to accountants. Accountants have to be able to read and write on an everyday basis. For example tax accountants have to write memos to describe the results that they found and at times they must write letters to the internal revenue service for their clients. Auditors for example have to write memos to file in the audit working papers that are essential to any audit. After the audit is completed auditors must be able to write a letter to management advising them on any changes that should be made. Accountants at times have the responsibility to write footnote disclosures in financial statements and at times accountants were using very technical language. This resulted in many investors being misinformed due to the fact that not ever investor is an accountant. The Securities and Exchange Commission issued a disclosure rule that stated to write these notes in “plain English.” They are seven tips that writers recommend for business writing. These seven are content, critical thinking, appropriateness for readers, conciseness, clarity, coherence, and revision. By content the writers mean the information you are writing must be accurate and relevant. Critical thinking the writers mean that you must analyze a problem...
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