Visit the new Central Libarary in downtown San Diego designed by San Diego architect, Rob Quigly. Take the elevator to the top floor and work your way down via the stairs to fullt appreciate the architecture and the public works of art scattered throughout the building. Select 2-3 artworks and comment on its meaning, style or design. Also, analyze the building for its architctural design […]

The income statement report assessment What document are financial statements prepared from? 2. What does the income statement report? 3. What does the statement of retained earnings show? 4. What does the balance sheet report? 5. Why are financial statements prepared in a specific order? What is that order? 6. What is a classified balance sheet? 7. Identify two asset categories on the classified balance […]

Assessing accrued revenue questions How is book value calculated, and what does it represent? 15. What is a deferred revenue? Provide an example. 16. What is an accrued expense? Provide an example. 17. What is an accrued revenue? Provide an example. 18. What are the two rules to remember about adjusting entries? 19. When is an adjusted trial balance prepared, and what is its purpose? […]

Analyzing the basic categories of adjusting entries What is the difference between cash basis accounting and accrual basis accounting? 2. Which method of accounting (cash or accrual basis) is consistent with Generally Accepted Accounting Principles? 3. Which accounting concept or principle requires companies to divide their activities into small time segments such as months, quarters, or years? 4. What is a fiscal year? Why might […]

The role of Financial Accounting Standards Board What is accounting? 2. Briefly describe the two major fields of accounting. 3. Describe the various types of individuals who use accounting information and how they use that information to make important decisions. 4. What are two certifications available for accountants? Briefly explain each certification. 5. What is the role of the Financial Accounting Standards Board (FASB)? 6. […]

Analyze characteristics Of a corporation questions Accounting is the information system that a. measures business activities. b. communicates the results to decision makers. c. processes information into reports. d. All of the above. 2. Which of the following is not an external user of a business’s financial information? a. Taxing authorities b. Customers c. Employees d. Investors 3. Generally Accepted Accounting Principles (GAAP) are currently […]

Analyzing noncash investing financial activities As a junior analyst, you are evaluating the financial performance of Digilog Corporation. Impressed by this year’s growth in sales (20 percent increase), receivables (40 percent increase), and inventories (50 percent increase), you plan to report a favorable evaluation of the company. Your supervisor cautions you that those increases may signal difficulties rather than successes. When you ask what she […]

Discuss preference decisions assignment Explain the difference between screening decisions and preference decisions. 2. What is the difference between independent projects and mutually exclusive projects? Give an example of each from your own experiences. 3. Briefly explain what the time value of money means. 4. Which capital budgeting methods incorporate the time value of money and which do not? Which are considered superior and why? […]

Limitations of financial measures of performance Explain how centralized and decentralized companies differ. What are the advantages and disadvantages of each? 2. Why does decentralization create the need for responsibility accounting in an organization? 3. What is the controllability principle and why is it crucial to responsibility accounting? 4. Name the four types of responsibility centers and describe the managers’ responsibilities and authority in each. […]

Discuss budgetary planning and control plan 1. Briefly describe the difference between budgetary planning and control. 2. What are standard costs? When are they set? 3. Explain a standard cost system and how a company uses it. 4. What is the difference between ideal and easily attainable standards? 5. What type of standard is best for motivating individuals to work hard? 6. Briefly describe the […]