Questions On Accounting And Auditing Issues

The purpose of this memo is to document the planning of the financial statement audit

HH’s long term debt/asset ratio was decreasing from 2006 to 2010 and goes up a little bit to 14.82% as shown on the data. However, the total debt ratio were all time above 50% except year 2010. At the end of 2011, HH’s total debt ratio is 57.54% while the long term debt/asset ratio is 14.82%. This tells us that HH has a larger portion in short term debts/ liabilities than long term debts. And as we can see from the consolidated balance sheet,

A company had a beginning balance in retained earnings of $44,500. It had net income of $7,500 and paid out cash dividends of $6,000 in the current period. The ending balance in retained earnings equals:

As part of the expansion plan, Wie will acquire some used equipment by signing a zero-interest-bearing note. The note has a maturity value of $50,000 and matures in 5 years. A reliable fair value measure for the equipment is not available, given the age and specialty nature of the equipment. As a result, Wie 's accounting staff is unable to

“What’s awesome about Whirlpool is our company employs the most people in the US for appliance manufacturing. It is something we are very proud of and like to share with both sales associates and customers. We make Refrigeration in

1. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its

According to the fact of this case, Parent Co. (Parent) wholly owns Poor Son Co. (Poor Son) as a legal subsidiary, and both of them all nonpublic companies. However, in January 2007 Poor Son filed a voluntary bankruptcy under Chapter 11 of the U.S. bankruptcy code because of its inability of meet obligations as they became due. Then, Parent claimed the loss of control of Poor Son and deconsolidated Poor Son from its financial statement. Through the bidding process in May 2009, Poor Son and OtherCo, the winning sponsor, filed a joint plan of reorganization to the bankruptcy court, but the plan was rescinded by OtherCo later due to significant market value shrink of Poor Son. After that, the

The Whirlpool Europe case provides an opportunity to look at different ways to evaluate a major IT investment the company is considering. To undertake this analysis we have to make a few assumptions because the case does not have all the details needed to estimate benefits and investment cost. However, if you were in a company faced with this situation, these numbers would be available.

In this case study I will be discussing following problem: Why has Butler Lumber been profitable in the increasing volume of sales but at the same time it is experiencing cash difficulties in 1988 – 1990? This is a historical problem and my calculations and assumptions are based on income statement and balance sheet for 1988 – 1990.

Feedback: Management accounting is the preparation and use of accounting information systems to achieve the organization's objectives by supporting decision makers inside the enterprise. LO 4

Centralized Pricing – no wonder it takes 110 days to reprice its entire product line, when you are trying to manage an 180,000 line report. The centralized pricing will make Whirlpool more competitive in its 170 countries worldwide. Very smart move.

Buck (2004). Welch and Byrne (2001). 3 One of the authors also attended the GE and Honeywell appeal hearings at the European Court of First Instance in Luxembourg on May 25th and 27th 2004. e

On 1 July 2011, Kookaburra Ltd acquired an item of plant at a cost of $200 000. The plant has an

Covenant’s balance sheet and income statement is a comparison of the years 2010, 2009, and 2008, and shows the company as struggling due to the current economy situation. The company’s total current assets decreased by 10.50% and include cash, short-term investment as well as inventory. The company had an increase of 9.23% in their total liabilities that was due to increases in their long-term debt as well as other liabilities. The net tangible assets for Covenant showed an increase of 7.24% over the twelve-month period. The income statement showed a decrease of 8.9% in the company’s gross profit during 2011. It also showed

In light of the above findings, since there are obvious problems found in Whirlpool¡¦s international business strategy, it is recommended that Whirlpool should refine its strategy as follow: