Inventory to a lesser extent , and accounts receivable fixed assets. and c. Pinnacle could overstate revenues in several ways. The auditor would especially focus on the Machine-Tech division because of the incentives identified in part a. d. There is a major change in perating expenses O and Income from operations this . If change was not expected, it could suggest revenue recognition fraud. The decline in bad debt expense and increase in depreciation expense, which are management estimates
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accrual based accounting are two ways use to record revenue or expense transactions. However, there is a difference in recognizing cash and accrual accounting transactions. Moreover, in cash basis accounting, a transaction is recognized when the money changes hands. Therefore, cash receipts are treated as revenue and payments are treated as an expense. However, in accrual basis accounting, it records the effect of each transaction as it occurs. Revenues are recorded when they are earned and expenses are
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Verizon Tony Gauvin All images from www22.verizon.com ©2005 Tony Gauvin, UMFK Overview Existing Condition New Vision and Mission External opportunities and threats CPM EFE Internal strengths and weaknesses IFE SWOT Matrix SPACE BCG IE matrix Grand Strategy Matrix QSPM Analysis Possible strategies Recommendations Strategic implementation and desired results Annual objectives (goal) and polices Evaluation Procedure
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throughout the 80's and 90's with the acquisition of more than a dozen U.S. drug distributors. By 1991, Cardinal Health had reached revenues exceeding $1B. By 1994, Cardinal Health had established itself as a leader in the drug distribution business with a nationwide presence and annual revenues of approximately $6B. Today Cardinal Health boasts $100+B in annual revenue. Board Composition Cardinal Health's Board of Directors has remained mostly the same preceding and after Sarbanes-Oxley legislation
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From Sheet of Accounting Theory Difficulties in Segment Reporting * Base of Segmentation: in case of complex business, it’s difficult to select a base for organization as well as difficult to compare. * Allocation of Common Costs: Common costs are likely to be allocated, bringing segment information into question * Pricing Inter-segment Transaction: No specific method for inter-segment pricing, different method use for cost, cost plus market price and negotiable price. * Costs of
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Financial Planning Office. The result is an overall university budget that is taken to the Board of Trustees for final approval in May. Budget Assumptions The assumptions that feed the budget process are: tuition rate increase, financial aid, gift revenue, overhead rates on sponsored projects, the salary pool, the benefit rate, capital requirements, and the endowment distribution. Central Allocation The colleges and major administrative units receive an annual allocation of funds to support their
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Comparing IFRS to GAAP ACC/290 7-14-2015 Howard Pickering Comparing IFRS to GAAP As International business increases, those with financial responsibilities should be well versed in the two primary accounting methods: GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). The Financial Accounting Standards Board set the GAAP which is primary used in the United States and the IFRS is used in several other countries. If the United States where
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The System Design Project ACG3401 – Spring 2013 You have been assigned to a team that is responsible for the complete design of an accounting information subsystem to support the business cycle (e.g. revenue, expenditure, production, human resource management and payroll, or financial reporting system) assigned to your team by the professor for a hypothetical company of your choice. Points will be awarded for a presentation to the class as well as a final report that will include a business
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Running Head: Comprehensive Problem Comprehensive Problem Saundra Brown, Charlene Caldwell, Ludonna Flanningan, Shana Mount MMPBL/503 Professor Brian Friedel November 30, 2009 Comprehensive Problem The basic financial statements – balance sheet, income statement, and cash flow statement – all provide managers will valuable information. But there are a number of other types
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This course has opened my eyes to the ever evolving world of Information Technology and its effect on the business world. If companies fail to adapt to new technologies and changing markets they will find themselves struggling to compete and survive. Just a few of these new technologies such as social networking, biometric technology, RFID, and cloud networks have completely changes the way companies operate. They have redefined and replaced older technologies and have managed to do so at a rapid
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