4. Aim, factors, courses, and plan are steps in the: A. standard decision-making process. B. recognition-based decision-making process. C. naturalistic decision-making process. D. classical decision-making process.
Q: Distinguish between quantitative and qualitative factors in decision making.
A: Qualitative Factor:Qualitative factors are those factors which cannot be expressed in the financial…
Q: Kindly assist on the above two questions. Q1) which of the below is an example of a compensatory…
A: There are 2 MCQ , answers were provided in the following Steps
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A: Introduction: A stakeholder is a person that has an interest in a company and has the ability to…
Q: List two ways managers can use ABM to make decisions.
A:
Q: Describe the five-step decision-making process?
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A: SOLUTION- DECISION MAKING - IT IS THE PROCESS FORMULATING RESOLUTIONS WITH IN THE SCOPE OF INFLUENCE…
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A: Definition: Internal control: Internal control is a process which ensures continuous reliability of…
Q: e the use of pro forma statements in informed decision-making?
A: Step 1When it comes to accounting, pro forma statements are the financial statements of your…
Q: A principle that is concerned with information that should be significant enough to affect…
A: Accounting Principles: These are the methods, guidelines, and rules that shall be followed by the…
Q: Which one of the following is related to the planning function of management: a. Establishing goals
A: Overhead rates refers to the cost allocated to the production of a product or a service required by…
Q: Describe management's discussion and analysis.
A: Management's discussion and analysis: Management discussion and analysis is the portion of company…
Q: Explain the qualitative factors in decision making.
A: Qualitative factors are a result of definite actions that are complicated or impossible to…
Q: Describe the six decision m evaluate their effectiveness
A: CAPITAL BUDGETING: The process through which a company evaluates possible big projects or…
Q: Explain how copmany approch to planing and its mission can be translated inti action plans
A: Planning: Planning refers to the process which helps in bridging the gap between the point the…
Q: 3- Implementation of planned decisions and evaluating performance is classified as: a. Evaluation…
A: Planning is very important and initial step of business process. This shows what needs to be done,…
Q: What is the purpose of the Management’s Discussion and Analysis?
A: Management Accounting: It refers to using the financial information of the organization for…
Q: That event of management's desired objectives is an example of:
A: Efficiency: Efficiency is the ability to accomplish the result with the usage of the least amount of…
Q: critically discuss and evaluate the issues in the langtry benchmark-setting decision
A: Issues in the Langtry benchmark-setting decision:It is a case study that is developed to readers and…
Q: Define and explain the significance of the term CMA.
A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…
Q: b. Discuss three (3) qualitative factors that the Management of GFA might have to consider before…
A: Decision making is one of the most important activities that have to be performed by the managers of…
Q: Explain Management’s discussion and analysis.
A:
Q: Explain what is meant by the term decision model.
A: Every business has to take important decisions now and then. A proper understanding of the situation…
Q: Explain the importance of the review and evaluation process.
A: Introduction The financial plan monitoring for workplace review and evaluation is found essential to…
Q: explain the roles of integrated reporting in the following aspects: a. Providing information that is…
A: Integrated reporting is conducted by organization to communicate strategy, plan, Governance or…
Q: What is the objective of having a conceptual framework?
A: Conceptual framework means set of rules and guidelines that help the users and preparers in…
Q: Subsequent events – meaning, types, and auditors responsibility on treating each type?
A: An independent auditor's report is generally issued which is connected to historical financial…
Q: What is meant by each of the following potential characteristics of information: relevant, accurate,…
A:
Q: Which qualitative characteristic is an ingredient of relevance? O understandability O materiality O…
A: Answer
Q: Which of the following terms is used to describe the process of developing the organization’s…
A: Improving process: it is a process of identifying and analysing of existing process improving them…
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A: Information can be considered good information if it has certain qualities or characteristics.
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A: Mission To provide reliable, high quality service using the latest medical techniques and highly…
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A: As per general accounting principal, financial statements of an entity should be true and fair. In…
Q: What makes information relevant to decision making?
A: The information that is essential to occur in the future and is different from the identified…
Q: What information is provided by this statement? Describe the steps to create the statement - choose…
A: In this question, the name of the statement is not given, It is assumed as statement of cash flows…
Q: The underlying theme of the conceptual framework is: a. decision usefulness. b. understandability.…
A: CONCEPTUAL FRAMEWORK DESCRIBE HOW THE INFORMATION SHOULD BE PRESENTED AND DISCLOSED IN FINANCIAL…
Q: What is SAVANT Framework and what do you understand about it?
A: SAVANT stands for strategy, anticipation, value-adding, negotiating, and transforming. It was…
Q: Identify the appropriate qualitative characteristic(s) being described in the statements below.…
A: A account balance or a transaction is said to be material if misstatement of such account or…
Q: The underlying theme of the conceptual framework is: a. decision usefulness. b. understandability.…
A: The conceptual framework is related to accounting information.
Q: Distinguish between managerial and financial accounting on
A: Basis Financial Accounting Managerial Accounting User and decision maker Outsiders like investors,…
Q: Instructions a. Prepare an incremental analysis for the special order. b. Should Gruden accept the…
A: Incremental analysis of special order :- it helps companies decide whether or not to accept a…
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- Boxes-and-Stuff, a box-packing and mailing company in a small town along the Gulf Coast, lost a key employee last month when its accounting manager was fired for embezzling company money. Now, the owners of Boxes-and-Stuff, Jerome and Natalia, need to find another accounting manager fast. But as they hurry to fill the position, they don't want to select a dishonest or incompetent employee. They need to be cautious. Fortunately, the police chief found the embezzled funds in a bank account set up by the former employee and authorized the return of the money. This means that Boxes-and-Stuff will not lose the embezzled amount, after all. However, Jerome and Natalia are already thinking of ways to protect their company from other risks. They want to be prepared for risky situations in the future. Questions: 1. Which risks do you think Boxes-and-Stuff might face?In a factory, there are 200 full-time employees who all are exposed to the same risk. Arisk analysis for the factory has been performed and the following information has beenarrived at:• The only type of accidents that can cause fatalities at the factory is fires.• The frequency of fire is 0.0028 per year• The average consequence if a fire occurs is 1.2 fatalities.(a) Calculate AIR for the employees in the factory.(b) Assume that the operation at the factory is changed and that a toxic chemical is introduced, leading to another type of accidents that may occur. If this is released, employees may be killed. The annual frequency of release is 4.2 × 10−4 , and the average consequence if a release occurs is 12 fatalities. Recalculate AIR for the employees in the factory taking into account the changes.(c) Calculate FAR for both cases above.>> it is a risk management questionA retail store normally has three people working in the evening. All of the employees have access to the same cash register. For the last month, the cash count at the end of the evening has been recording losses. The losses range from $5 to $300. So, the manager has decided to be the only one to count the cash at the end of the evening to keep the losses from happening. Discuss if the change made by the manager is a good one. Will the losses keep happening, or will this change prevent losses due to theft? What other recommendations and changes should be considered by this manager?
- The following misstatements are included in the accounting records of Westgate Manufacturing Company.1. Each month, a fraudulent receiving report is submitted to accounting by anemployee in the receiving department. A few days later, he sends Westgate an invoicefor the quantity of goods ordered from a small company he owns and operates inthe evening. A check is prepared, and the amount is paid when the receiving reportand the vendor’s invoice are matched by the accounts payable clerk.2. Telephone expense (account 2112) was unintentionally charged to repairs andmaintenance (account 2121).3. The accounts payable clerk prepares a monthly check to Story Supply Company forthe amount of an invoice owed and submits the unsigned check to the treasurer forpayment along with related supporting documents that have already been approved.When she receives the signed check from the treasurer, she records it as a debit toaccounts payable and deposits the check in a personal bank account for a…Alexia Jones is a worker at a local 24-hour pharmacy. Alexia works the night shift and is the only worker. Because management is cost-conscious and business is slow at night, Alexia has been given the responsibility to do the accounting from the previous day. Alexia has two children, and her husband does not work. Alexia has strong pressure to provide well for her family. Assuming that you were recently hired by the pharmacy as a business consultant, what information would you provide to the owner of the pharmacy concerning fraud?The following misstatements are included in the accounting records of Westgate Manufacturing Company. Each month, a fraudulent receiving report is submitted to accounting by an employee in the receiving department. A few days later, he sends Westgate an invoice for the quantity of goods ordered from a small company he owns and operates in the evening. A check is prepared, and the amount is paid when the receiving report and the vendor’s invoice are matched by the accounts payable clerk. Telephone expense (account 2112) was unintentionally charged to repairs and maintenance (account 2121). Required: For each misstatement, identify the transaction-related audit objective that was not met. For each misstatement, state a control that should have prevented it from occurring on a continuing basis. For each misstatement, state a substantive audit procedure that could uncover it.
- Barbara was a regular shopper at Egeeay Supermarket, which was part of a large nationwide supermarket chain. She was there at least once a week and sometimes more often if the specials were really good. When Barbara was there this week, she slipped on some grapes in the pet-food section in aisle 3, slipping and falling, and breaking her ankle. The store manager was not sure how the grapes got there or how long they had been there, but store policy was to do checks every 15 minutes of the floor in the fruit section. The store manager indicated that there were a number of spillages every week in the green grocery section of the store. The store owner wishes to know: a) Whether Egeeay Supermarket owes a duty of care to Barbara?Barbara was a regular shopper at Egeeay Supermarket, which was part of a large nationwide supermarket chain. She was there at least once a week and sometimes more often if the specials were really good. When Barbara was there this week, she slipped on some grapes in the pet-food section in aisle 3, slipping and falling, and breaking her ankle. The store manager was not sure how the grapes got there or how long they had been there, but store policy was to do checks every 15 minutes of the floor in the fruit section. The store manager indicated that there were a number of spillages every week in the green grocery section of the store. The store owner wishes to know: a) If they do, has it breached that duty of careListed here are five scenarios. For each scenario, discuss the potential consequences and give a prevention technique.a. The systems operator opened a bag of burned microwave popcorn directly under a smoke detector in the computing room where two mainframes, three highspeed printers, and approximately 40 tapes are housed. The extremely sensitive smoke detector triggered the sprinkler system. Three minutes passed before the sprinklers could be turned off.b. A system programmer intentionally placed an error into a program that causes the operating system to fail and dump certain confidential information to disks and printers.c. Jane’s employer told her she would be laid off in 3 weeks. After 2 weeks, Jane realized that finding another secretarial job was going to be very tough. She became bitter. Her son told her about a virus that had infected his school’s computers and that one of his disks had been infected. Jane took the infected disk to work and copied it onto the network server,…
- Due to the coronavirus pandemic, ShakeHands Company announced a decision to close a factory located in Sampaloc and terminate all 200 employees as a result of the decline in product demand due to the lockdown. The entity shall pay P40,000 per employee upon termination. However, to ensure that the windup of the factory occurs smoothly and all remaining customer orders are completed, the entity needs to retain at least 20% of employees until closure of the factory in six months. As a result, the entity announced that employees who agree to stay until the closing of the factory shall receive P75,000 payment at the end of the six months in addition to receiving their current wage through the period of closure on top of the P40,000. Based on this offer, the entity expected to retain 50 employees until the factory is closed. Compute the amount attributable to termination benefit. Compute the amount attributable to short-term benefit.Hardcase Luggage Shop is a small retail establishment located in a large shopping mall. This shop has implemented the following procedures regarding inventory items:a. Because the shop carries mostly high-quality, designer luggage, all inventory items are tagged with a control device that activates an alarm if a tagged item is removed from the store.b. Because the display area of the store is limited, only a sample of each piece of luggage is kept on the selling floor. Whenever a customer selects a piece of luggage, the salesclerk gets the appropriate piece from the store’s stockroom. Because all salesclerks need access to the stockroom, it is not locked. The stockroom is adjacent to the break room used by all mall employees.c. Whenever Hardcase Luggage Shop receives a shipment of new inventory, the items are taken directly to the stockroom. Hardcase’s accountant uses the vendor’s invoice to record the amount of inventory received.State whether each of these procedures is appropriate…Your small business client, Phillip’s Computer Repair Shop, is experiencing financial difficulties and has to lay off one of its four employees in the accounting area. Phillip has asked you to determine what duties should be assigned to the three remaining employees—Abigail, Bryan, and Chris—to maintain the best separation of duties.Required:Assign the following 10 duties to each of the three employees.a. Reconcile bank statement.b. Open mail and list checks.c. Prepare checks for Phillip’s signature.d. Prepare payroll checks.e. Maintain personnel records.f. Prepare deposit and take to bank.g. Maintain petty cash.h. Maintain accounts receivable records.i. Maintain general ledger.j. Reconcile accounts receivable records to general ledger account.