Acct 346 Study guides, Class notes & Summaries

ACCT-346 Week 7 Discussion: Capital Budgeting and the Time Value of Money What is capital budgeting and why is it important to business decisions? Capital budgeting is a procedure that attempts to decide what's to come. Prior to the start of any extensive task, the capital budgeting procedure should be used. Without capital budgeting, an organization could make a drastic mistake. Choosing which venture or undertaking to put resources into is a long-term choice. An organization must consider tha...

ACCT-346 Week 1 Discussion: Managerial Versus Financial Accounting, Ethics, and Ethical Behavior 1. The Sarbanes-Oxley Act of 2002 (SOX) has emphasized the importance of ethical behavior and co des of conduct. Discuss the costs and benefits of the ethical environment. If a poor ethical environment results in costs to an organization, what are they? Conversely, what are the benefits of a good ethical environment? Ans. After the major collapse of many big organization like WorldCom, Enron and etc....

faithful representation, substance over form, prudence, neutrality, completeness - Answer- According to the IFRS what are the 5 qualities of financial information that improve reliability Costs can be reliably measured - Answer- According to IFRS what condition must be met for revenue recognition to occur? Current ratio will decrease. Accruing wages increases both current liabilities and expenses, but collecting receivables has no effect on current assets or sales therefore the current r...

Week 1: Introduction to Managerial Accounting - Discussion Managerial and Financial Accounting (graded) Flexibility, timeliness, and forward looking is said to be the prominent trait of modern mana gement accounting, whereas standardization and consistency describe financial accounting. Explain why the focus on these two accounting systems differs. Responses Responses are listed below in the following order: response, author and the date and time the response is posted. Response Author Date/Time...

Week 1: Introduction to Managerial Accounting - Discussion Managerial and Financial Accounting (graded) Flexibility, timeliness, and forward looking is said to be the prominent trait of modern m anagement accounting, whereas standardization and consistency describe financial accounting. Explain why the focus on these two accounting systems differs. Responses Responses are listed below in the following order: response, author and the date and time the response is posted. Response Author Date/Time...

Week 1: Introduction to Managerial Accounting - Discussion Managerial and Financial Accounting (graded) Flexibility, timeliness, and forward looking is said to be the prominent trait of modern m anagement accounting, whereas standardization and consistency describe financial accounting. Explain why the focus on these two accounting systems differs. Responses Responses are listed below in the following order: response, author and the date and time the response is posted. Response Author Date/Time...

ACCT-346 Week 4 Midterm Exam 1. (TCO 4) Which of the following will have no effect on the break-even point in units? (Points : 4) The selling price increases The variable cost per unit increase s The sales volume increases Total fixed costs increase 2. (TCO 4) Circle K Furniture has a contribution margin ratio of 16%. If fixed costs are $176,800, how many dollars of revenue must the company generate in order to reach the break-even point? (Points : 4) $1,105,000 $282,880 $1,060,800 $208,476 3. (...

ACCT-346 Week 5 Discussion: Cost-Volume-Profit Analysis and Relevant Costs (GRADED)

Week 7: Evaluating Management Performance - Discussion Financial Statement Analysis (graded) Why do managers analyze financial statements? What are they looking for? Responses Responses are listed below in the following order: response, author & the date & time the response is posted. Response Author Date/Time Class Professor Backman 12/5/2012 2:03:01 PM Lets start by discussing the following: What is the purpose of financial statement analysis? There are a variety of stakeholders tha...

Exam (elaborations) Liberty University ACCT 370 Exam 2 Complete solution Liberty University ACCT 370 Exam 2 Complete solution 100% satisfied: solutions 1. The Common Stock account is reported on the balance sheet at the: 2. The time that the performance obligation is satisfied for revenue recognition is usually: 3. When reporting a change in an accounting principle, the general rule requires that the current year’s income from continuing operations reflect: 4. Using the same account...