Controls for Outflows Biniyam Beyene‚ Christie Ferrell‚ Gabriel Mendoza and Paula Strahl ACC/544 May 2‚ 2015 Professor Tracie Youngblood Controls for Outflows Purchasing‚ accounts payable‚ cash disbursements‚ finance‚ investment‚ and payroll are key components to a successful and efficient business. Internal controls are needed in these outflow process to prevent fraud and theft within the business. The follow proposal will list the types of controls that are needed and reason for the
Premium Management Finance English-language films
ACC 290 Final Exam Study Guide Let’s get started… Q 8 – Under IFRS Comparative prior-period information must be presented and financial statements must be provided annually. Explanation: See IFRS financial reporting requirement here: http://www.iasplus.com/en/standards/ias/ias1 Q 10 - Similarities between International Financial Reporting Standards (IFRS) and U.S. GAAP include all of the following except: Both IFRS and U.S. GAAP allow revaluation of items such as land and buildings to fair
Premium Generally Accepted Accounting Principles Inventory Revenue
ACC 400 Final Exam / 100% correct answers http://www.homeworkmarket.com/content/acc-400-final-exam-100-correct-answers 1. Zelma Company ’s last financial statements provided the following ratios: Current ratio 3:2 Quick ratio 1:2 Accounts receivable turnover 9.0 times Inventory turnover 8.0 times Net income percentage 12.5% Return on equity 22.6% Return on assets 9.8% To the nearest day‚ what is the operating cycle for Zelma? a) 80 days
Premium Balance sheet
University of Phoenix ACC 340 FINAL EXAM =============================================================== For each of the following course objectives‚ explain in 200-400 words what you learned in this course and how you could apply your learning of this course objective to your personal life or career. Refer to the syllabus to assist you in understanding what material was covered under each objective. 4pts each 1) CHANGING DYNAMICS OF ACCOUNTING The steps of accounting
Premium Financial statements Generally Accepted Accounting Principles Data
Final Exam ACC/340 Accounting Information Systems I Week 5 The point value for the Multiple Choice is 1 point per question each for a grand total of 20 points. If you have any questions please let me know. Thank you and good luck. 1. The “S” in the acronym “AIS” stands for: a) Standard b) System (X) c) Symbol d) none of these 2. Which of the following is true? a) An AIS must be computerized to be useful b) An AIS always produces useful information
Premium Balance sheet Accounting software Internal control
ACC/291 - Final Exam Study Guide 1. Ordinary repairs are expenses to keep a plant asset functioning properly: Revenue expenditures Explanation: Revenue expenditure is an ongoing cost to maintain the operational efficiency of an asset. 2. Percentage of receivables method: Estimated uncollectible accounts = $15‚000. Allowance for Doubtful Accounts = $3‚000 What is the amount of bad debts expense? $12‚000 Explanation: This entry simply requires you to subtract 3‚000 from
Premium Expense Generally Accepted Accounting Principles Operating expense
Multiple Choice Question 49 Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? Harder to transfer ownership. Lower taxes. Most common form of organization. Reduced legal liability for investors. Multiple Choice Question 64 The group of users of accounting information charged with achieving the goals of the business is its creditors. investors. managers. auditors. Multiple Choice Question 110 Which of the following financial
Premium Variable cost Management accounting
1) Which of the following statements is true? D. A Management Discussion and Analysis section is required in annual reports to shareholders even when financial results are positive. 2) Notes to the financial statements include which of the following: A. An independent auditors report. 3) Which of the following financial statements is divided into major categories of operating‚ investing‚ and financing activities? D. The statement of cash flows. 4) If the retained earnings account increases from
Premium
Globali | Test | Final Exam | Started | 9/14/12 7:22 PM | Submitted | 9/14/12 8:45 PM | Status | Completed | Score | 260 out of 300 points | Time Elapsed | 1 hour‚ 22 minutes out of 2 hours. | Instructions | This final exam consist of 30 multiple choice questions and covers the material in chapters 8 through 17. There are three questions from each chapter and the questions are in chapter order. Be sure you are in the correct Chapter when you take the exam. | * Question
Premium Transaction cost Net present value Contract
FINAL EXAM PBHE525 Complete the final exam offline during the final exam week. Once you have complete the exam‚ input your exam into the final exam shell in the exam folder on the course webpage. Good luck 1. 2. 3. 4. 5. 6. 7. 8. US Census statistics show that college graduates make more than $254‚000 more in their lifetime than non-college graduates. If you were to question the validity of this observation‚ what would be your basis for doing so? A. Definition of a college graduate
Premium Normal distribution Standard deviation Arithmetic mean