acct 301 essential of accounting week 6week 6 pricing discussionbudgeting graded why 3455398

ACCT 301 (Essential of Accounting)Week 6Week 6: Pricing – DiscussionBudgeting (Graded)Why is budgeting important for a company? What are some reasons that a company would not prepare a budget?Responsibility Accounting (Graded)Describe responsibility accounting and its purpose. What conditions are necessary for responsibility accounting to be used effectively?Week 6 Assignments:ACCT 301 Week 6 Homework ProblemsACCT 301 Week 6 Quiz (15 MCQ’s)(TCO 9) Which one of the following stages of the management decision-making process is properly sequenced?(TCO 9) When is incremental analysis most useful?(TCO 9) Which of the following will never be a relevant cost?(TCO 9) A company is deciding whether or not to replace some old equipment with new equipment. Which of the following is not considered in the incremental analysis?(TCO 9) It costs Lannon Fields $14 of variable costs and $6 of allocated fixed costs to produce an industrial trash can that sells for $30. A buyer in Mexico offers to purchase 2,000 units at $18 each. Lannon has excess capacity and can handle the additional production. What effect will acceptance of the offer have on net income?(TCO 9)Wishnell Toys can make 1,000 toy robots with the following costs:(TCO 9) All of the following are relevant to the sell or process-further decision, except for __________.(TCO 8)Most of the capital budgeting methods use __________.(TCO 8) The capital budgeting decision depends in part on the __________.(TCO 8) The cash-payback technique __________.(TCO 8) All of the following statements about intangible benefits in capital budgeting are correct, except that they __________(TCO 8) The profitability index __________.(TCO 8) Post audits of capital projects __________.(TCO 8) A company has a minimum required rate of return of 9% and is considering investing in a project that costs $50,000 and is expected to generate cash inflows of $20,000 at the end of each year for 3 years. The profitability index for this project is __________(TCO 8)Disadvantages of the annual rate of return method include all of the following, except that____

devry acct 301 essentials of accounting complete course discussions questionsweek 2i 3455396

Devry ACCT 301 (Essentials of Accounting)Complete Course Discussions QuestionsWeek 2Internal Controls – DiscussionDescribe what you think is the most important control activity that a company can implement. Why do you think that the one you chose is the most important?Describe one of the three elements that are present when fraud occurs. Of the three elements, which do you think is present first in an ethical situation?Week 3: Financial Statement Analysis – DiscussionHorizontal and Vertical Analysis (Graded)Ratio Analysis (gradedWeek 4: Managerial Accounting – DiscussionManagerial Accounting (Graded)This week, we are shifting our focus from financial accounting to managerial accounting.How do the content and verification of the reports differ between managerial and financial accounting? CVP Analysis (Graded)What is CVP analysis? How is it useful to managers?Week 5Week 5: Budgets and Productivity – DiscussionIncremental Analysis (Graded)What is incremental analysis? How is it used by management?Relevant Costs (Graded)Our lecture states that relevant costs can also be viewed as avoidable costs. What does this mean? This is a very difficult concept, so help your classmates understandWeek 6Week 6: Pricing – DiscussionBudgeting (Graded)Why is budgeting important for a company? What are some reasons that a company would not prepare a budget?Responsibility Accounting (Graded)Describe responsibility accounting and its purpose. What conditions are necessary for responsibility accounting to be used effectively?Week 7Week 7: Capital investment and Incremental – DiscussionCapital Budgeting (Graded)Discuss the capital budgeting process and the inputs that are used in capital budgeting.Transfer Pricing (Graded)What is the transfer price? Why is determining a fair transfer price important for division managers?

module 3 slpmanaging productivity through job design and work flowfor slp 3 we ll co 3455380

Module 3 – SLPMANAGING PRODUCTIVITY THROUGH JOB DESIGN AND WORK FLOWFor SLP 3, we’ll continue your progress developing your expertise as a specialist in one aspect of human resource management.In this module, you need to set up the organization of your paper. Therefore, it is important to preview the goal of SLPs 4 and 5 at this time so you can see how the pieces of your project fit together:In SLP 4, you are going to be asked to submit the introduction to your paper and write Part I: What does theory/academe say about ________________ (insert your topic here)? You might want to read ahead into SLP 4 and 5 to understand your objectives more clearly at this point.For SLP 5, you are going to be asked to submit Part II: What does practice tell us about this HR activity/function? What types of organizational examples can you submit that help advise you of the practice of HR (specific to your topic)? Part III: Conduct an analysis of similarities and differences between “theory” and “practice”. And finally, a conclusion identifying the most important points that a reader of your report (SLP 4 and SLP 5 comprehensively) should take away from the work/research that you’ve done.SLP Assignment ExpectationsFor SLP 3, you need to develop an outline, using your annotated bibliography, of SLP 4 and SLP 5 (which combined would make up a comprehensive report). In your outline, you should identify specific sections of your paper, including the introduction, analysis, and conclusion and any references (using author, year to cite them) you might plan on using as you write.Thus, for SLP 3, what you are being asked to turn in is an outline of your SLP 4 and 5 papers. Your outline would look something like this:(TITLE)I. IntroductionA. Relevance of my topic:1. the point that you want to make using this article (Smith, 2003)2. the point that you want to make (Johnson, 2000)B. Importance of the topic to meC. How this topic will be meaningful to my future careerII. Background of what this topic isA. Definition1. definition (Constance & Frendshue, 1999)2. definition (Delery & Doty, 1996)B.C.etc.Turn in this paper by the module due date.

module 3 casemanaging productivity through job design and work flowafter reading the 3455379

Module 3 – CaseMANAGING PRODUCTIVITY THROUGH JOB DESIGN AND WORK FLOWAfter reading the Background materials, you have been introduced to a number of ways to influence employee productivity. However, according to articles in USA Today and HRMagazine, some family-friendly programs are not providing the promised results:Armour, S. (2003, October 20). More companies downsize family-friendly programs; No longer needed to keep workers: [FINAL Edition]. USA Today, p. A.01. Retrieved August 28, 2007, from National Newspapers (27) database. (Document ID: 427189741).Wells, S. J. (2007, Oct). Are you too family friendly? HRMagazine, 52/10, 34-39.What is going on here? Were the promises of these programs lies? Unnecessary?Case AssignmentAfter reading the articles, respond to the following questions in a 3- to 4-page paper (not including cover and reference pages), citing Background materials, the Case articles, and any other resources that you find to support your position as a human resource manager:Would you recommend to add or eliminate these types of programs to your organization’s benefits program?Do these types of programs influenced productivity?Where might they be more or less appropriate (what industries, when, etc.)?Should you have policies in place that only a few might take advantage or benefit from?Turn in this paper by the module due date.

140 the document that the purchasing department prepares and sends to the vendor to 3455377

140. The document that the purchasing department
prepares and sends to the vendor to place an order is the
A. Purchase requisition.
B. Purchase order.
C. Invoice.
D. Receiving report.
E. Invoice approval.

141. The document that is an itemized statement of
goods prepared by a vendor listing the customer’s name, items sold, sales
prices, and terms of the sale is the
A. Purchase requisition.
B. Purchase order.
C. Invoice.
D. Receiving report.
E. Invoice approval

142. The internal document that is prepared to notify
the appropriate persons that ordered goods have been received and describes the
quantities and condition of the goods is the
A. Purchase requisition.
B. Purchase order.
C. Invoice.
D. Receiving report.
E. Invoice approval

143. The document, also known as the check
authorization, that is a checklist of steps necessary for approving an invoice
for recording and payment is the
A. Purchase requisition.
B. Purchase order.
C. Invoice.
D. Receiving report.
E. Invoice approval

144. A voucher system is a series of prescribed
control procedures:
A. Designed to eliminate the need for subsidiary
ledgers.
B. Designed to determine if the company is operating
profitably.
C. Used almost exclusively by small companies.
D. Used to ensure that the company sells on credit only
to creditworthy customers.
E. Designed to control cash
disbursements and the acceptance of obligations.

145. The gross method of recording purchases refers to
the method of recording:
A. Purchases at the invoice price less any cash
discounts.
B. Specified amounts and timing of payments that a buyer
agrees to make in return for being granted credit.
C. Purchases at the full
invoice price, without deducting any cash discounts.
D. Inventory at its selling price.
E. Inventory at the lower of cost or market.

146. An expense resulting from failing to take
advantage of cash discounts on purchases is called:
A. Sales discounts.
B. Trade discounts.
C. Purchases discounts.
D. Discounts lost.
E. Discounts earned.

147. A company using the net method of recording
purchases failed to take advantage of a discount available. When they pay the
full (gross) amount of an invoice at the end of the credit period the journal
entry will include a debit to:
A. Merchandise Inventory.
B. Sales Discounts.
C. Discounts Lost.
D. Cash.
E. Accounts Receivable.

148. A company that uses the net method of recording
invoices made a purchase of $400 with terms of 2/10, n/30. The entry to record
the purchase would include:
A. A debit to Merchandise
Inventory for $392.
B. A credit to Discounts Lost for $8.
C. A credit to Cash for $392.
D. A debit to Discounts Lost for $8.
E. A debit to Cash for $392.

149. Merchandise with an invoice price of $2,000 was
purchased on October 3, terms 1/15, n/60. The company uses the net method to
record purchases. The entry to record the cash payment of this purchase
obligation on October 17 is:
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mso-layout-grid-align:none;text-autospace:none”>150. A company records purchases using the net method.
On February 1, they purchased merchandise inventory on account for $8,300 with
terms of 1/10, n/30. The February 1 journal entry to record this transaction
would include a:
A. Debit to Merchandise Inventory of $8,300.
B. Debit to Merchandise
Inventory of $8,217.
C. Debit to Merchandise Inventory of $83.
D. Credit to Merchandise Inventory of $83.
E. Credit to Accounts Payable of $8,300.

Matching Questions
151. Match each of the following terms with the
appropriate definitions.

1. Principles of internal control

Principles requiring
management to establish responsibility, maintain adequate records, insure
assets, separate recordkeeping from custody of assets, divide responsibility
for related transactions, apply technological controls, and perform
reviews.

2. Liquidity

An income
statement account used to record cash overages and cash shortages arising
from missing petty cash receipts or from errors in making change.

3. Cash Over and Short

A method of
recording purchases at the full invoice price less any cash discounts.

4. Days’ sales uncollected

An internal
business document (or file) used to accumulate information to control cash
disbursements and to ensure that the transaction is properly recorded.

5. Gross method

A report that explains
any differences between the checking account balance according to the
depositor’s records and the balance reported on the bank statement.

6. Purchase order

The ability of a
company to pay for its near-term obligations.

7. Voucher

An internal
document used to report that ordered goods are received and to describe the
quantity and condition.

8. Receiving report

A measure of the
liquidity of receivables computed by taking the current balance of
receivables and dividing by the credit sales over the period, and then
multiplying by 365.

9. Bank reconciliation

A document used
by the purchasing department to place an order with a vendor.

10. Net method

A method of
recording purchases at the full invoice price without deducting any cash
discounts.

152. Match each of the following transactions 1
through 10 with the applicable internal control principle a through g (some
answers refer to more than one principle).

a. Establish responsibility.
b. Maintain adequate records.
c. Insure assets and bond employees.
d. Separate recordkeeping from custody of assets.
e. Divide responsibility for related transactions.
f. Apply technological controls.
g. Perform regular and independent reviews.

1. A company has separate departments for
purchasing, receiving, and accounts payable.

2. Cashier does not have access to the cash register
recorded tape or file.

3. The bookkeeper prepares and signs checks.

4. A company has an internal auditor on staff.

5. No two clerks share the same cash drawer.

6. A company hires CPAs to perform an audit.

7. A company buys an insurance policy to protect
against employee theft.

8. A company uses a voucher system.

9. A company uses a computerized point of sale
system.

10. A company uses a check protector.

153. Identify each of the following items 1 through 10
as either (a) cash or (b) cash equivalent.

1. Certified check

2. Cashier’s check

3. Currency

4. U.S. treasury bills

5. Three-month certificate of deposit

6. Commercial paper

7. Coins

8. Petty cash

9. Money orders

10. Money market accounts

154. Match the following terms a through j with the
appropriate definition 1 through 10.

1. Discounts lost

A document
signed by the depositor instructing the bank to pay a specified amount to a
designated recipient.

2. Vendee

The seller of
goods or services.

3. Purchase requisition

An expense
resulting from failure to take advantage of cash discounts on
purchases.

4. Check

An itemized
statement of goods prepared by the vendor that lists the customer’s name, the
items sold, the sales price of each item, and the terms of sale.

5. Vendor

All the policies
and procedures managers use to protect assets, ensure reliable accounting,
promote efficient operations, and urge adherence to company policies.

6. Cash

Currency, coins,
and amounts on deposit in bank checking and many savings accounts.

7. Cash equivalent

An internal
document listing the goods needed by a department and requesting that it be
purchased.

8. Invoice

An asset such as
cash that can be readily used to settle near-term obligations.

9. Internal control system

The buyer or
purchaser of goods or services.

10. Liquid asset

Short-term,
highly liquid investments that are readily convertible to a known cash amount
and are sufficiently close to their maturity date so that the market value is
not sensitive to interest rate changes.

155. Identify whether each of the following items 1
through 10 would on appear on the bank side or the book side of a bank
reconciliation.

1. Bank debit memorandum

2. Deposits in transit

3. The bank incorrectly recorded a check for $9.58.
The company properly wrote the check for $95.80.

4. Interest on a checking account

5. Bank service charges

6. Outstanding checks

7. Bank credit memorandum

8. The bank collected a $1,000 note for the
depositor.

9. The bank printed checks for the depositor for a
fee.

10. NSF check