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Chapter 2

Internet Exercise #1

As you know, financial accounting differs in many ways from managerial accounting. • The website of the Institute of Management Accountants (IMA) at http://www.imanet.org/ provides an overview of the Certified Management Accountant (CMA) designation. (See the Certification link on the home page.) • The website of the American Institute of Public Accountants (AICPA) at http://www.aicpa.org provides an overview of the Certified Public Accountant (CPA) designation. (Access the overview at http://www.startheregoplaces.com/.

Review the information provided on these two websites. Then, write a brief paper (3 - 5 paragraphs) that: ← Compares and contrasts these two professional designations (that is, the CMA and CPA). ← Identifies the professional designation(s) (that is, the CMA, CPA, or both) that involves obtaining a license from the state in which the accountant practices. ← Lists and briefly describes other certifications discussed on the AICPA and IMA sites.

Internet Exercise #2

The website of the Institute of Management Accountants (IMA) includes information about scholarships and awards for students. Search the site (see search box at top-left of page) and locate the information about the scholarships and awards that are sponsored by the IMA. Briefly describe the various scholarships and awards that are available.

Internet Exercise #3

Perform an Internet search using the term, opportunity costs. Select and read a case study or article from the results of your search. (Make sure that you do not select an instructor’s lecture notes or a class assignment from the results of your search.) Then, write a brief paper (3 – 5 paragraphs) that summarizes the case study or article. (Your paper should provide the appropriate citation. If necessary, you may wish to refer to the following website, which includes information about citations: http://www.cod.edu/library/research/citenet.htm.)

Chapter 3

Internet Exercise #1

The websites of selected companies appear below:
← Biolea (http://www.biolea.gr).
← Evian at (http://www.evian.com).
← Gulf Craft Inc. (http://www.gulfcraftinc.com).
← Ircon International Limited (http://www.irconinternational.com). Review the information about the operations of each company that is provided on the company’s website. Write a brief summary (one paragraph) for each of the four companies that includes a: • A brief description of the operations of the company and • Two specific examples of possible:

▪ Fixed costs,
▪ Variable costs, and
▪ Mixed costs.

Internet Exercise #2

Most retailers have a high proportion of variable costs (cost of goods sold) in their cost structures. Search the Securities and Exchange Commission’s EDGAR corporate filings data base at http://www.sec.gov/edgarhp.htm for the annual report of Form 10-K of a major retail merchant. Using information from each of the three years included in the company’s most recent Form 10-K, perform the following: ← Calculate how the corporation’s costs have changed as sales have changed over the time period covered by the Form 10-K. (In particular, restate cost of goods sold as a percentage of sales.) ← Calculate the other major cost categories as a percentage of sales over the time period covered by the Form 10-K. Report the name of the company selected, summarize the financial results and calculations made related to sales and cost of goods sold for the three most recent years, and comment on any trends noted.

Internet Exercise #3

Perform an Internet search using the term, contribution margin. Select and read a case study or article from the results of your search. (Make sure that you do not select an instructor’s lecture notes or a class assignment from the results of your search.) Then, write a brief paper (3 – 5 paragraphs) that summarizes the case study or article. (Your paper should provide the appropriate citation. If necessary, you may wish to...
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