Background Our Client, Company A, owns a portfolio of investment-grade, fixed-rate debt securities classified as available for sale. Due to interest rate increases between the date of purchase and March 31, 20X6, a material portion of the portfolio’s Fair Value is below Amortized Cost. Company A has deemed the decline to be temporary. Company A has provided written intent to not sell the debt securities on March 31,20X6 and determined that it is not more-likely-than-not that they will sell
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THE FOLLOWING FORMAT: (See Exhibit 2-9, Sample Research Memo, on page 2-21 of text, for more details) MEMO #: 4 GROUP #: 7 / Writer: Jabari Brown / Reviewers: ________________________ FACTS: Connie Cook owns her own marketing consulting business that she runs out of her home. She paid $15,000 to join a country club in order to meet potential marketing clients. This year Connie also paid $4,300 in greens fees when golfing with clients. ISSUE: Can Connie deduct the $15,000 cost of country
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Memo I wanted to bring to your attention a memo I received from quality control and the proposed solution. Quality control sent a memo out Monday regarding toy whistles: lots 436 to 449. While the toys were going through the required inspection, the whistles were found to contain a higher content of lead then what is required by the U.S. regulations for children. These whistles fall under the elementary toy division and were made to complete an order that would be shipped to South America at the
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ideas in written communication. Requirement: Assume the role of a staff accountant who has been asked to research the appropriate revenue recognition for a client, Velocity Cellular, for its new product, the Power Starterpack. You have been provided with a memo from the client describing the new product and you are to prepare your own memo to your supervisor that that discusses in your own words the existence of relevant revenue recognition alternatives given the facts of the case. You must also
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Accounting Firm, LLC. Memo To: Firm Accountants From: Junior Accountant Date: 20/08/2012 Re: The New Statement of Accounting Standards (SAS) 112 Changes have been made regarding the rules auditors must follow. The purpose of this memo is to inform all the accountants about the new Statement of Accounting Standard (SAS) No. 112,Communicating Internal Control Related Matters Identified in an Audit issued by the American Institute of Certified Public Accountants (AICPA). Management considers
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Handout Problem 1) Since the customer uses a voucher system, the auditor should ask the client to confirm individual unpaid transactions rather than the total balance owed. 2) There might be a lag in the recording of cash receipts and updating the customer’s balance because the customer sent the payment a week before the auditor sent out the confirmation. In this case, the auditor should trace the payment to the cash records. However, this could also be a lapping activity and that’s
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Memo To: John Smith, Small Business Director From: Joan Jones, Accounting Associate Date: October 28, 2012 Subject: Funding for a Business Writing Course I am writing to request funding to participate in an upcoming class, Business Writing, held at Un known University. The class will focus on effective writing strategies in a business setting and how writing simpler, clearer, and being concise will enable a better understanding of written material by the readers. Also
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This corporation will formalize the sale of customized life history books for its clients and customers. Although based in Colorado Springs, CO., Life Books will sell its products nationwide through am aggressive internet marketing plan. Life Books, Inc. will open for operation in Septembers 2012. The office is located in Colorado Springs, Colorado and will initially provide services online as well as to clients living in Colorado Springs, CO. Colorado Springs is home to several large military
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by home owners and reduce memos and letters being mailed out to home owners for any little update. Its starts to become spam mail at their house after a while. This site will be useful because this would be the central location for everyone to go to. Instead of calling the receptionist or asking a fellow neighbor, simply by going to the site the information is at their fingertips. Having the site is a quick update and everyone would know quicker than by mailing memos to home owner. The type of
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are about to do is for an important client of North East Financial Consultants who has asked your manager for advice on the following issues: 1. To provide financial interpretation of the performance of two organizations within the same industry covering a two year period. 200 words (80%) 2. To research and report upon business failure techniques. 500 words (20%) To help with this your manager has provided an assignment brief in the form of a memo (attachment). She has said that you
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