CASH FLOWS AND FINANCIAL STATEMENTS AT SUNSET BOARDS Below are the financial statements that you are asked to prepare. 1. The income statement for each year will look like this: | Income statement | | | 2008 | | 2009 | | Sales | $247‚259 | | $301‚392 | | Cost of goods sold | 126‚038 | | 159‚143 | | Selling & administrative | 24‚787 | | 32‚352 | | Depreciation | 35‚581 | | 40‚217 | | EBIT | $60‚853 | | $69‚680 | | Interest | 7‚735 | | 8‚866 | |
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investment. Ranking projects is often used in the situation of capital rationing. PBH might have had difficulties in terms of availability of cash‚ which would justify the use of the Payback method. However‚ it’s an old system that hasn’t been revised for years‚ now conditions have changed. Liquidity of the projects is not essential‚ since the hotel has enough cash on hand to finance the projects without the need to take on additional debt. • The PBH Financial Controller Kornkrit felt that past proposals
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"A Boy Named Sue" My daddy left home when I was three And he didn’t leave much to ma and me Just this old guitar and an empty bottle of booze. Now‚ I don’t blame him cause he run and hid But the meanest thing that he ever did Was before he left‚ he went and named me "Sue." Well‚ he must o’ thought that is quite a joke And it got a lot of laughs from a’ lots of folk‚ It seems I had to fight my whole life through. Some gal would giggle and I’d get red And some guy’d laugh and
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for the initial valuation of capital assets‚ costs subsequent to acquisition‚ and the deposals of capital assets with reference to Air Canada. Define cash and accounts receivables and explain the recognition and valuation of receivables. Identify and compare depreciation methods. Table of Content Introduction Task 1: Internal Control and Cash Task 2: Receivables Task 3: Noncurrent Assets Task 4: Recommendations Conclusion References Introduction Air Canada is counter as Canada’s flag
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Cash Basis vs. Accrual Basis Accounting Cash basis accounting and the accrual basis accounting are two accounting methods used to keep track of a business’s income and expenses. In accrual basis accounting‚ revenue is recorded as it is earned and expenses are recorded when they generate revenue. Under cash basis accounting‚ only transactions involving increases or decreases of the entity’s cash are recorded. One of the major differences is the reporting of net income and net cash flows
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In accounting and auditing‚internal control is defined as a process effected by an organization’s structure‚ work and authority flows‚ people and management information systems‚ designed to help the organization accomplish specific goals or objectives.[1] It is a means by which an organization’s resources are directed‚ monitored‚ and measured. It plays an important role in preventing and detecting fraud and protecting the organization’s resources‚ both physical (e.g.‚ machinery and property) and
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Written Accounting Opinion – INTERNAL DOCUMENT ONLY Prepared by: Client name: Group 6 ABC Retailing Pty. Ltd. Date: Year end: Mr. Williams 4 weeks Accounting √ IFRS √ US GAAP AASB IFRS for SME / Differential Reporting Standards Auditing Ethics Other (specify): 30 April‚ 2012 30 June‚ 2012 Prepared for (name of supervisor): Time spent on this opinion: What type of opinion (select options)? Accounting Standards applied: Query or issue: Whether the debit-balance account “Cash Discounts” in the Statement
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Case Study 2 – Internal Control 1. Inform the President of any new internal control requirements if the company decides to go public. As per the accident that happened in the company about some employees was viewing pornography on company computer and he had a hard time to get his employees admitted that they were the one who doing it. He should use limit access by individual passwords for each person to log in the computer systems. To make sure that which person was log on in the computer and
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a. What is the goal of cash management and why do firms hold cash? Money administration guarantees that sufficient levels of capital are accessible to a business for here and now needs‚ for example‚ stock buys. A decent money administration program can altogether impact the effectiveness of operations‚ which can likewise lessen general expenses. The objective of most money administration frameworks is to wipe out astonishments identified with money by meeting the day by day money necessity at the
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budgeting? a Will an investment generate adequate cash flows to promptly recover its cost? b Will an investment generate an acceptable rate of return? c Will an investment have a positive net present value? d Will an investment have an adverse effect on the environment? 3 Which of the following is not considered when using the payback period to evaluate an investment? a The profitability of the investment over its entire life. b The annual net cash flow of the investment. c The cost of the investment
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