Depending on the obligations there are two types of pension plans, defined benefit plans and defined contribution plans A defined contribution plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. individual accounts for participants and benefits are set are based on the amounts credited to these accounts plus any return on investment of the money in the account. Only employee contributions to the account are guaranteed, no future…
Running head: CS 2401: Software Engineering 1 Written Assignment Unit 3 CS 2401 Software Engineering 1 University of the People Term 5 (2016-2017) November, 26, 2016 An automated ticket issuing system sells rail tickets. Users select their destination and input a credit card…
of constant change. The accounting industry like all others, is experiencing the effects of globalization and as the U.S. accounting industry continues to press forward with replacement of rules-based accounting standards under the U.S. Generally Accepted Principles, with principles-based accounting standards under International Financial Reporting Standards, adoption of IFRS is inevitable. Leading the push for a single set of high-quality International accounting standards is the U.S.…
a) Underaspiring negotiator Set the target too low and opens the negotiation by requesting something that is immediately granted. As a result, regrettable state of affairs known as the winner’s curse. It occurs when the offer is immediately accepted by the other party. Underaspiring negotiator is settling for too less b) Overaspiring negotiator Overaspiring negotiator style is asking for too much and taking a strong position & refusing to make concessions. Overaspiring also known as positional…
depreciated over the term of the lease, which is ten years, not twelve. In addition, the auditor should appraise management's procedure for coming up with the depreciation estimate. The method used for depreciation must be in compliance with generally accepted accounting principles. Whatever method the management chooses, they should use the same method each time. The auditor should verify that management applied the method correctly; it may be beneficial for the auditor to come with up their…
agreed by all parties that Jeffrey Lau Ka Wing and Mai Lau Que Ly must be present at all meetings and that decision can only be made subject to their unanimous approval. It is agreed by both the advisor and the client that telephone orders will not be accepted, and that the client must provide his or her signature as authorization for every transaction. Before making any recommendation, I must first have a complete picture of your current financial situation. The information I need deals with,…
The Crime Lab recently reclassified and posted an opening for a Senior Executive Assistant, a grade 14. After an application process and interviewing three candidates, Director Ross Capps selected Kristi Hill to fill the position. Kristi Hill is currently a Senior Secretary II in the Warrants Division, a grade 14 position. Kristi’s current position in the Warrants Division was reclassified to a grade 14, from a grade 13, on August 17, 2014. Therefore, she has currently been in a grade 14…
1. Define Stockholder and stakeholder. What is the difference between the two? Stockholder: A man who claims shares in an company and consequently gets some portion of the company's benefits and the privilege to vote on how the company is controlled. Stakeholder: A stakeholder is anyone who can influence or is influenced by an association, venture. They can be internal or external and they can be at senior or junior levels. Difference between Stockholder and Stakeholder: 1. Stockholder (…
Financial and managerial accounting are both important accounting aspects to effectively manage a company. Financial accounting are reports that are mainly used by external stakeholders of a company. Managerial accounting is mainly used by management of a business to help them make informed decisions. While both forms of accounting provide different information for different uses, they both provide important financial information that describes the financial wellness of an organization. Both…
Evaluate any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Prepare a recommendation to the CFO, evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation, include essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance. Inventory write-downs…