An Archive of Impeccable Accounting Answers : Page - 36

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Task 1 Assessment SpecificationsPart A requires you to identify and evaluate two opportunities for BBQ fun business.•    To identify opportunities, analyse information on organisation’s market and business needs, for example:o    Comparative market informationo    Competitors’ performanceo    Customer requirementso    Legal and ethical requirementso ...

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Problem 5-56 Activity-Based CostingComplete problem 5-56 and exercise III-3 in the textbook. Prepare your responses in Excel with each problem on a separate tab. Problem 5–56 Activity-Based Costing (LO 1, 2, 4, 5, 7) 2. New product cost, under ABC: $7.46 per pound of Kona World Gourmet Coffee Company (WGCC) is a distributor and processor of different blends of coffee. The company buys coffee beans from around the world and roasts, blends, ...

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Identifying Financial Information Requirements1. Implement financial plan    1.1 Identify financial information requirements and obtain specialist services, as required, to profitably operate the business in accordance with the business plan1.2 Produce financial budgets or projections, including cash flow estimates, as required for each forward period, and distribute to relevant people in accordance with legal requirements1.3 Nego...

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LO1 Demonstrate an understanding of management accounting systems     D1 Critically evaluate how management accounting systems and management accounting reporting is integrated within organisational processes. P1 Explain management accounting and give the essential requirements of different types of management accounting systems.      M1 Evaluate the benefits of management accounting systems and their application w...

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Required: 1. Use the fraud triangle and fraud scale to explain the fraud committed by Sonya Causer at Clive Peeters Ltd. (15 marks). 2. Assume Clive Peeters Ltd is a company registered in Singapore and Sonya Causer committed the fraud in Singapore, what evidence would you need to acquire to prove the fraud offence ‘falsification of accounts’ (Section 477A Penal Code) (5 marks). 3. Do you think the fraud committed by Sonya Causer ca...

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Ross’s Lipstick Company’s long-term debt agreements make certain demands on the business. For example, Ross may not purchase treasury stock in excess of the balance of retained earnings. Also, long-term debt may not exceed stockholders’ equity, and the current ratio may not fall below 1.50. If Ross fails to meet any of these requirements, the company’s lenders have the authority to take over management of the company. Chan...

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The bank statement for Farmer Co. indicates a balance of $7,735 on June 30. After the journals for June had been posted, the cash account had a balance of $4,098. Prepare a bank reconciliation on the basis of the following reconciling items: a) Cash sales of $742 had been erroneously recorded in the cash receipts journal as $724. b) Deposits in transit not recorded by bank, $425. c) Bank debit memo for service charges, $35. d) Bank credit memo fo...

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Sonia Miller cannot believe what she has just heard. Having joined Scalar Products as a Market Analyst and Planner she has just been informed that the company has no sales forecasting system and Finance simply examine previous sales when doing next year’s estimated sales for budgeting purposes. She cannot understand how the company has managed to operate effectively without one.Her marketing manager, however, a very competent technical engi...

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Horizon Corporation manufactures personal computers. The company began operations in 2002 and reported profits for the years 2004 through 2009. Due primarily to increased competition and price slashing in the industry, 2010's income statement reported a loss of $20 million. Just before the end of the 2011 fiscal year, a memo from the company's chief financial officer to Jim Fielding, the company controller, included the following comments: "If we...

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You need to answer following questions to get satisfactory grades for this assessment activity. Make sure to answer all task in all assessments activities to get overall competent results.Task 1.1•    What is a budget?•    What are different types of budgets?•    Explain budgetary control principles?Task 1.2It is very important to discuss the budget with colleagues and peers to determine...

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What is Accounting?Question: 1.What do we mean by “Accounting”?•Accounting is the process used to collect, analyse and develop financial information, it consists of recording, interpreting and reporting data collected from financial transactions.2.List three types of non-reporting entities.•Registered Charities•Health Organisations•Social Clubs (Veterans, RSL, ect).3.List three pieces of legislation that not-for-p...

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Watley’s are looking into the possibility of buying an automatic cutting machine, which would enable the company to reduce its headcount by one; however, the company wants to check that the overall savings will justify the initial capital outlay. The new equipment will cost £60,000 and will cost £2,000 a year in maintenance costs. There will be an annual saving of £22,000 in labour. The equipment will have a useful life of...

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    An executive summery    A brief introduction on each company including how they are placed within the industry.    An initial analysis of trends in the items contained in the profit and loss statements, balance sheets and statements of cash flows; appropriate relevant ratios measuring Profitability (Return on Assets and Net Profit Margin), Liquidity (Current Ratio and Quick Rat...

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1. List at least 5 points that are important to ensure communication delivers on customer needs, expectations and priorities.  (5 marks)  2. It is important that staff should deliver an outstanding customer experience at all times.  What are the specific behavioural competencies that this requires and how would this be measured?  (5 marks)  3. Using information provided in Unit 2, it is important that an organisation cont...