Category: Accounting

Fixed Overhead Costs

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Brandt Gardner, the owner-manager of a small firm that manufactures feed processing equipment and round-hay bailers, is unhappy with the latest report on financial performance in the Kansas City, Missouri, plant. The company had recently installed a standard cost system in the Kansas City plant with the objective of controlling manufacturing costs. The performance report for the year ended revealed that the variances for materials, labor, and variable overhead were all within the desired ranges, but the fixed overhead spending and volume variances were both significantly unfavorable. Brandt wanted an explanation of the fixed overhead variances and a recommendation.

Which do you think is more important for control of fixed overhead costs: the spending variance or the volume variance? Explain.

Tax and accounting careers

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Explore the websites and videos supplied in the resources section, as well as the website provided below. Write a brief reflection on what your plans are in relation to tax careers or another accounting career path. Did this course change your mind about what you want to do in accounting?

Specifically address these questions:

What did you learn about tax from this course?
How can you apply what you learned from this course to help you personally or professionally?
What role appeals to you in your future career in accounting? Use the link below for some ideas about positions in accounting.

WEBSITE

https://us.aicpa.org/career/careerpaths/publicaccounting.html

Fixed Overhead Costs

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Brandt Gardner, the owner-manager of a small firm that manufactures feed processing equipment and round-hay bailers, is unhappy with the latest report on financial performance in the Kansas City, Missouri, plant. The company had recently installed a standard cost system in the Kansas City plant with the objective of controlling manufacturing costs. The performance report for the year ended revealed that the variances for materials, labor, and variable overhead were all within the desired ranges, but the fixed overhead spending and volume variances were both significantly unfavorable. Brandt wanted an explanation of the fixed overhead variances and a recommendation.

Which do you think is more important for control of fixed overhead costs: the spending variance or the volume variance? Explain.

Equity and how you apply the concept of equity

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(a) What is equity and how can you apply the concept of equity is not about equality in your life with specific examples?

(b) What is diversity and what are the benefits of diversity in the workplace and your personal life? Please use specific examples.

(c) How can employers use the ideas of chapter 12 to make sure they benefit from the concept of inclusion in order to achieve organizational goals?

(d) What examples have you seen or heard of (or using research) for how companies apply programs of Equity, Diversity, and inclusion?

(e) What was your favorite and largest learning from this class?

Bessrawl Corporation

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Case 4-1: Bessrawl Corporation

Read and review the selected case study from the required text, and answer the analysis questions.
After reviewing the background section of the Bessrawl Corporation in your textbook, provide answers to the following questions:
Prepare a reconciliation schedule to convert 2014 income and December 31, 2014, stockholders’ equity from a U.S. GAAP basis to IFRS. Ignore income taxes. Prepare a note to explain each adjustment made in the reconciliation schedule.

 

Short-run decision making consists of choosing among alternatives with an immediate or limited end in view

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Short-run decision making consists of choosing among alternatives with an immediate or limited end in view. Short-term decisions sometimes are referred to as tactical, or relevant, decisions because they involve choosing between alternatives with an immediate or limited time frame in mind.

Suppose that a product can be sold at split-off for $5,000 or processed further at a cost of $1,000 and then sold for $6,400. Should the product be processed further?

 

 

Types of responsibilities on a scale from more to less demanding or binding

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Philosophers distinguish between three different types of responsibilities on a scale from more to less demanding or binding. Explain these responsibilities.
Discuss the arguments between the economic model and stakeholder theory.
Discuss the various aspects associated with employment at will (EAW).
After posting your original response (at least 75-100 words per question

 

Fund accounting

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Discussing fund accounting. Comparing government entities, nonprofit entities, and partnershops.
In this short paper, you will explore fund accounting, including the principles, standards, and methods used. You will also explain the differences between government entities, nonpro�t
entities, and partnerships.
Directions
Use the resources for the principles, standards, and methods for the different types of organizations, linked in the Supporting Materials section, and your textbook to research fund accounting.
Also use the resources to research the differences between government entities, nonprofit entities, and partnerships.
Specifically, you must address the following rubric criteria:
1. Explain the principles and methods used for fund accounting.
2. Explain how government entities use fund accounting.
3. Explain how nonprofit entities use fund accounting.
4. Describe at least one rule for each of the following:
A. Government entities
B. Nonprofit entities
C. Partnerships
Your response should include a total of three to six rules.
5. Explain at least three main differences between the following:
A. Government entities
B. Nonprofit entities
C. Partnerships

Just in Time (JIT)

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Write a research paper on an advanced or deeper study of a topic: Just in Time (JIT)
The paper must be 7–10 pages in length, not including any tables, graphs, etc. A minimum of 6 accounting journal sources must be used, all of which have been published within the last 3 years. Current APA formatting is required.
Within the body of the paper, you must have a clear thesis statement and provide a good introduction with a clear overview of the contents of the paper.
You must address all issues related to the topic, consider various viewpoints, and provide a proper analysis with an integrated biblical worldview. Ensure your transitions are clear between paragraphs, utilize headings throughout, and logically orient your topics.
You must provide a solid conclusion that offers a summary of the issues presented in the paper and suggestions for futher study.

 

 

 

Total Quality Managment (TQM)

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Write a research paper on an advanced or deeper study of a topic: Total Quality Managment (TQM),
The paper must be 7–10 pages in length, not including any tables, graphs, etc. A minimum of 6 accounting journal sources must be used, all of which have been published within the last 3 years. Current APA formatting is required.
Within the body of the paper, you must have a clear thesis statement and provide a good introduction with a clear overview of the contents of the paper.
You must address all issues related to the topic, consider various viewpoints, and provide a proper analysis with an integrated biblical worldview. Ensure your transitions are clear between paragraphs, utilize headings throughout, and logically orient your topics.
You must provide a solid conclusion that offers a summary of the issues presented in the paper and suggestions for futher study.