sequently, the partners of the firm became dissatisfied with Small’s production and warned him that they would b
Q: The operations vice president of Security Home Bank Is Investigating the efficiency of the bank's…
A: Activity-based costing helps in allocating the indirect cost to the products based on the activity…
Q: Which of the following sentences contains a series that is not parallel?
A: ANSWER: Which of the following sentences contains a series that is not parallel? Let us first…
Q: BC Ltd has incorporated a bonus plan that rewards the board of directors (executive members) by…
A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…
Q: Maple & Co, chartered accountants, is suffering from declining revenue, and as a result of this,…
A: Profitability means the excess of incomes over the expenses.
Q: fundamental principles of professional ethics
A: Option a is wrong because effect on reputation of audit firm will not affect any fundamental…
Q: Mohammed was recently interviewed for an accounting job. His employer told him that the job…
A: Management accounting is a branch of accounting in which accounting and financial information is…
Q: change its accounting system to reflect the reporting problems better.
A: Company Follow the principles and Policies are adopted as according to Applicable Financial…
Q: You are a candidate for promotion. Before submitting the reports, your branch manager requested you…
A: Ethical principles seem to be universal norms of wrong and right that specify the type of activity…
Q: Assume that the marginal revenue product schedules of accountants and instructors are similar. Which…
A: Revenue Marginal Product (MRP) The MRP assumes that all other expenses remain constant and assists…
Q: Ms. Sana is an accounting head in the Head office of Oman Steel Factory. The Oman Steel Factory is…
A: 1) The 3 interpretations of financial statement are: a) Reduction and decrease in the Sales and…
Q: Mohammed was recently interviewed for an accounting job . His employer told him that the job…
A: Introduction: Accounting: Accounting is an art of recording classifying , summarizing and…
Q: In a strategy meeting, the president of a manufacturing company said, “If we were to raise the price…
A: Unit contribution margin is calculated by subtracting variable expenses including manufacturing,…
Q: Suppose that a company called Futuristics, Inc hires you to work in Supply Cha Management. Your new…
A: 4. Activity-based costing could better show us how much it really costs to serve Surfers,…
Q: ccount set up by the for
A: 1. Risk in the workplace is a broad term. It refers to any event or scenario that could hinder and…
Q: RADOMZO SECURITY SERVICES LTD. is a professional security company in Ghana. The company has a high…
A: Staff turnover or employee turnover is the term used to denote the tenure of the employees in which…
Q: Your HR Manager approaches you regarding a worker whose performance reports have been deteriorating…
A: The expense of training the present employee has already been incurred. Regardless of what we do, it…
Q: Required: a) Use activity-based costing to estimate the cost of preparing: i A wage and salary tax…
A: Given information is: Mel Snow is the manager of a firm, Taxation Matters, which specialises in the…
Q: You are the management accountant at Xero Ltd and have been trying to persuade your boss, the…
A: The traditional role of management accountant had revolved around the contour of a) planning i.e.,…
Q: Jacob, a company secretary, wishes to take a holiday. Jacob realises he needs to leave someone in…
A: Delegation of authority by Director The director is to blame for exertion delegations at intervals…
Q: Ellie Ice-cream’s owner is disturbed by the poor profit performance of his ice cream counter. He has…
A: Relevant cost are the avoidable costs that can be avoided with the elimination of some product usage…
Q: You are a newly hired junior auditor in a small auditing firm. A more senior auditor has been on…
A: Ans. An auditor must try to meet the ethical principles like, confidentiality, objectivity,…
Q: est the best communication channels for the following messages. Assume that all channels are…
A:
Q: Mel Snow is the manager of a firm, Taxation Matters, which specialises in the preparation of income…
A: Activity based costing is the costing technique which determines the cost of the product by…
Q: Hansaben
A: Part 2:Explanation:Step 1: Identify the total cost of each activity.For opening accounts, the total…
Q: The operations vice president of Security Home Bank has been interested in investigating the…
A: Step 1:Activity rate is the rate used to allocate overhead cost to cost object under activity based…
Q: Round your percentage answers to nearest whole percent and other amounts to whole dollars.)
A: Return on investment (ROI) reflects the return a company is earning on the investments it made.
Q: wards the board of directors (executive members) by providing a bonus of 3 per cent of reported…
A: .Opportunistic behaviour occurs when the actions of management are to better their own personal…
Q: The CEO of a firm is giving an annual statement in front of shareholders. The company sells two…
A: Introduction:- A company's CEO makes an annual statement in front of the shareholders. The firm…
Q: Premier Baking Ltd. Has recently appointed a new CEO to run it bakery business, which supplies to…
A: Agency cost can be referred to an internal cost which arises due to the action made by the manager…
Q: The controller of one division of a large diversified firm is compensated by salary plus bonus. The…
A: The scenario involves a controller in a large firm's division who is compensated through a…
Q: Companies often try to keep accounting earnings growing at a relatively steady pace, thereby…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: earch, and assess the costs involved. He concludes that it will be necessary to increase staff…
A: The ethical issues are given as,
Q: One of the criticisms of the NLRB is that they are too powerful and are constantly fining companies…
A: Here discuss about the activities of the National Labor Relation Board (NLRB) and it primary aims to…
Q: Which one of the following represents the best effort to reduce the agency problem? Select one:…
A: The agency problem refers to a conflict of interest that arises when one person or group, known as…
Q: BC Ltd has incorporated a bonus plan that rewards the board of directors (executive members) by…
A: POSITIVE ACCOUNTING THEORY (PAT) Positive accounting theory (PAT) is concerned with predicting such…
Q: How would you know if all the necessary disclosures were prepared and contained correct information?
A: Introduction: Accounting policy: Accounting policy can be defined as the rules, regulations and…
Q: ABC Ltd has incorporated a bonus plan that rewards the board of directors (executive members) by…
A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…
The public accounting firm of Hanson and Brown was expanding very rapidly. Consequently, it hired several staff assistants, including James Small. Subsequently, the partners of the firm became dissatisfied with Small’s production and warned him that they would be forced to discharge him unless his output increased significantly.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Ray is a finance director in a public sector organization that has experienced difficulty attracting and retaining skilled staff. To assist in overcoming this problem, the board has engaged a consultant to recommend an improved benefits structure, to apply to all staff. The consultant has produced his report, and Ray has been asked to consider the proposed staff benefits structure, and make appropriate recommendations to the board. He study the report, conduct appropriate research, and assess the costs involved. He concludes that it will be necessary to increase staff costs, but believes these will be offset by the efficiencies brought about by recruiting and retaining high-quality staff. The report contains the following recommendations: Benefits should be related to the length of service of members of staff. After one year of continuous employment, a member of staff will qualify for private health insurance. Private health insurance should cover the member of staff and his or her…The current power outages are affecting productivity of ABC Ltd. Even though demand is high, they cannot produce enough to meet the needs of their customers. The best option is to buy a generator but they have other very urgent issues to resolve with money primary among them been payment of salaries. Management does not know how long the outages will last and the possible reactions of the staff should they fail to pay them. Use financial techniques to support your decision.ABC Ltd has incorporated a bonus plan that rewards the board of directors (executive members) by providinga bonus of 3 percent of reported profits. This is an Accounting-based incentive that has the advantage whichthe accounting results may be based on subunit or divisional performance."A well-informed labour market will motivate management to work to maximize the value of its firm.Underperformance might lead to dismissal and, if the labour market is efficient in disseminating data, a 'failed'a manager might have difficulty attracting a position with comparable pay elsewhere." (Deegan, 2020)Requirement:1) Using Positive Accounting Theory (PAT), discuss the bonus theme in general and why the bonus plan(Accounting-based) was put in place in ABC Ltd?2) Explain whether the board of directors could be motivated to try to inflate reported profits.3) Use the opportunistic perspective of PAT to explain the potential for managers to manipulatecorporate disclosure.
- Ethics in Business Consumers and attorney generals in more than 40 states accused a prominent nationwide chain of auto repair shops of misleading customers and selling them unnecessary parts and services, from brake jobs to front-end alignments. Lynn Sharpe Paine reported the situation as follows in “Managing for Organizational Integrity.” Harvard Business Review, Volume 72 Issue 3: In die face of declining revenues, shrinking market share, and an increasingly competitive market. . . management attempted to spur performance of its auto centers. . . . The automotive service advisers were given product-specific sales quotas—sell so many springs, shock absorbers, alignments, or brake jobs per shift—and paid a commission based on sales. . . . [F]ailure to meet quotas could lead to a transfer or a reduction in work hours. Some employees spoke of the “pressure, pressure, pressure” to bring in sales. This pressure-cooker atmosphere created conditions under which employees felt that the only…Flamengo Co, a sporting goods manufacturing, decided to decentralize its operations. Which statement below is true about Flamengo after the decentralization process? O Flamengo's managers now make and implement fewer decisions than they did before the decentralization. O Flamengo's lower-level managers are responsible only for implementing decisions. O At Flamengo, overall profit margins can mask inefficiencies within various subdivisions. O At Flamengo Co., the CEO makes all the important operating and strategic decisions. O Flamengo's managers can make better decisions using local information.dear tutor, kindly assist me to answer this question. management accounting subject
- You are a newly hired auditor in a small auditing firm. A more senior auditor has been on sick leave in the past two weeks. You have been told by your manager that you must complete some complicated reconciliation work. The deadline suggested appears unrealistic, given the complexity of the work. You feel that you are not sufficiently experienced to complete the work alone. You would need additional supervision to complete it to the required standard, and your manager appears very busy to offer the necessary support. If you try to complete the work within the proposed timeframe but fail to meet the expected quality, you could face negative consequences. You feel slightly intimidated by your manager, and you are afraid to tell him what you feel. You also feel pressured to do what you can for the auditing firm in what seems to be challenging times. Which of the following ethical principles will be the LEAST affected in the given situation? a. Integrity b. Professional Behavior c.…Blue is the controller at the Acme Shoe Company, a large manufacturing company located in Franklin, Pennsylvania. Acme has many divisions, and the performance of each division has typically been evaluated using a return on investment (ROI) formula. The return on investment is calculated by dividing profit by the book value of total assets.In a meeting yesterday with Bob Burn, the company president, Blue warned that this return on investment measure might not be accurately reflecting how well the divisions are doing. Blue is concerned that by using profits and the book value of assets, division managers might be engaging in some short-term finagling to show the highest possible return. Bob concurred and asked what other numbers they could use to evaluate division performance.Blue said, ‘‘I’m not sure, Bob. Net income is not a good number for evaluation purposes. Because we allocate a lot of overhead costs to the divisions on what some managers consider an arbitrary basis, net…Strivant Industries is a struggling company whose profits are dropping. Manager Jill Trainor is looking at the numbers on the annual report she is preparing to send out to investors. She takes a red pencil and strikes through several numbers, replacing them with figures that make Strivant seem more profitable than it really is. This is an example of Multiple Choice editing. auditing. embezzling. fraud.
- The public accounting firm of Hanson and Brown was expanding very rapidly. Consequently, it hired several staff assistants, including James Small. Subsequently, the partners of the firm became dissatisfied with Small’s production and warned him that they would be forced to discharge him unless his output increased significantly. At that time, Small was engaged in audits of several clients. He decided that, to avoid being fired, he would reduce or omit entirely some of the required auditing procedures listed in the audit plan prepared by the partners. One of the public accounting firm’s non-SEC clients, Newell Corporation, was in serious financial difficulty and had adjusted several of its accounts being examined by Small to appear financially sound. Small prepared fictitious working papers in his home at night to support purported completion of auditing procedures assigned to him, although he in fact did not examine the Newell adjusting entries. The public accounting firm rendered an…A manager in your organization just received a special order at a price that is “below cost.” The manager points to the document and says, “These are the kinds of orders that will get you in trouble. Every sale must bear its share of the full costs of running the business. If we sell below our full cost, we'll be out of business in no time.” What do you think of this remark?Which of the following would constitute an Agency Problem in the context of Business? Check all of the following that apply. Check All That Apply A manager authorizes a trip to Europe for himself at the company's expense even though he has no intention of doing any company business while on the trip. A manager makes a bad decision that costs the company tens of thousands of dollars, but he believes he is acting In the company's best interest rather than his own in making the decision. An employee takes home a box of pens for personal use without prior authorization, A manager turns down a project that analysis has shown to be profitable for the company because she is afraid of negative consequences for herself if something goes wrong.
