One Saturday afternoon, Hayden went to a car dealership, and bought the 2017 Chevrolet Camaro. Hayden only has $30,000 in his bank account, and the car costs $25,905. Since we are talking about Hayden, everyone just knew he was not going to choose the monthly payments. After spending three hours signing paperwork, he decided to spend the rest of his money at the grocery store. After, a long day spending every single dime he had in his bank account, he comes home to the Electric Company cutting off his power. Hayden forgot to pay his electric bill for this month; he did not want to pay it because JEA charge him $350 a month. Hayden sat in his chilly, dark house for the next 2 days, trying to figure out what to do. He thought he was fortuitous when he bought his new car, but that escalated quickly when JEA cut off his power. Tuesday morning, Hayden went to Logan’s house charging his …show more content…
Henceforth, Hayden went back to STEMC and switched electric companies. Later that evening, Hayden called his ex-wife to see if she can bring the boys over tomorrow, and watch the electrician put a new transformer and wires up. Hayden started to act haughty when he found out the boys were coming because he knew they love to see people way up high. It was the next day; Hayden was getting so enthusiastic, until he heard a terrible storm was coming later that afternoon. He did not heed the weatherman’s warning, until STEMC called saying they will not make it out due to terrible storms coming. Hayden decided to call his ex-wife telling her that STEMC will not make it out, but he still wants the boy to come over. She is being abstruse towards Hayden because Hayden does not have power and she wants to make sure the boys are safe during the storm that is coming
The week four individual paper addresses the implementation of Activity Based Costing (ABC) by Super Bakery, Inc., a virtual corporation founded by Franco Harris. Specifically, management strategies, the reasoning behind an ABC system, and the alternatives of a job order cost system or a process order cost system are assessed for this enterprise.
According to an article in the CPA Journal, the auditor considers reliability of audit evidence collected and the reliability of that evidence to reduce the risk of financial statements containing undetected material errors. Compare and contrast at least two (2) types of evidence, and make a recommendation as to which you believe is the most reliable in reducing risk. Support your position.
Now one must ascertain that such regulations would only be applied under certain governance systems- a good government; a government that is liable to the people. In such cases, there should be funds available for social programs. I will classify social programs as two types, based on how they should prioritizes allocation of funds:
Before diving directly into the article from the Governmental Accounting Standards Board (GASB) titled Governments to Report Liabilities Connected with Their Obligations to Clean Up Pollution (2006), one must first take a step back and take time to read, comprehend, and take to heart exactly what this organization stands for. Taken directly from their main web page under the tab labeled Education, the first thing seen in big, bold, blue letters is, “Due Process: The GASB Is Listening” followed by a definition of what listening means, “to hear with thoughtful attention”. When researching a little more into the GASB, it is easy to see how crucial listening truly is for them in order to fully accomplish their
Although cash might only have a small dollar amount on the balance sheet, there are many reasons that an auditor might spend a lot of time auditing the cash account:
4. Total conversion cost = $128,000 + $16,000 + $9,000 + $64,000 + $41,000 + $35,000 + $46,000 = $339,000
This scenario demonstrates the motive to purchase personal expenses and hide small revenues and this ultimately results in a higher expense value, gaining a favourable tax return. Examples within the scenario were buying a sports car, or paying for a trip to Hawaii which are clear violations of the Business Entity Concept. This principles states that a business must be considered a separate entity from the person, and all of its financial matters should be recorded separately from one’s own. This act is seen as an unacceptable behaviour since the business is cheating the government, and keeping the money that could have been used to better the community in addition to violating common accounting standards.
Too many disposals of small groups of assets that are recurring in nature qualify for discontinued operations under prior GAAP. This caused financial statements to be less decision useful for users. Additionally, the guidance on discontinued operations resulted in higher costs for preparers because it can be complex and difficult to apply. The FASB issued ASU 2014-08 to address those problems by changing the criteria for reporting discontinued operations, while simultaneously enhancing convergence with the International Accounting Standard Board’s reporting requirements for discontinued operations.
Since the majority of US thrive on the use of credit cards, the accounts receivables for a company may no longer be on a cash-to-cash basis. A company may need to sell these accounts to other companies who specialize in handling accounts receivables if they need cash more quickly or if it would be too costly to perform the necessary billing to collect on the account.
“The ACH procedure has the offsetting advantage of focusing attention on the few items of critical evidence that cause uncertainty or which, if they were available, would alleviate it.” (Heuer, 1999). Conclusions are derived from analysis of data, evidence is compared to possible hypotheses, and a hypothesis assessment is based on the reliability of the sources and validity and plausibility of the intelligence. Confidence levels are labeled as high, moderate, and low by ICD 203 standards.
Larson Inc. must consider the alternative economic futures for their industry. In any market, economic conditions will change over time. The company must be able to adapt and change with the economy to remain successful. The company needs to find solutions for the changing economy to keep increasing their revenue and decreasing their costs. The economy may go through a recession, expansion and peaks over their years in business. Larson, Inc. needs to analyze the difference scenarios and determine the best course of action for each type of economic future. Also, the company must consider the economy’s stage in the business cycle to make well-informed decisions.
I recently encountered a conflict at work that involves a project manager for one of my clients, who I’ll call “L” and several people in my department including myself. “L” caused a 2 week delay in a project, and I wondered, why?
As he says, (pg 15/16), “I mean why put myself through this?Why not just pop the tape out of the stereo and throw the entire box of them in the trash?” In this moment, he has to decide, to go through tapes and deal with the sadness and anger, and know or not know and stay where he is. The Second major event is when Hannah catches Tyler spying on her. Although he didn't come back, she doesn't feel safe anymore.
(b) “A standard imposed by a governmental agency is known as a regulation.” Do you agree? Explain.
Abby was not surprised at this. She was not excited that this happened even though Becca was a little weird. When they finished talking Luca went with Abby to her house because it was what he did since he was nine. What Abby didn’t know