Bernoulli's principle

Grant Thornton's decision to completely rely on Jack Greenberg, Inc’s delivery receipts to perform the company audit is the controversial issue in the case given. It had justified that the independent auditor relied on the delivery receipts as the audit evidence based on the ‘segregation of duties’ system. The case here explained that JGI’s internal control procedures for inventory had been executed by different person as the purchasing, receiving and approving functions are performed by the…

Introduction Manufacturing companies, like Hampshire Company, rely on the costing data provided by various costing methods to determine financial successes and downfalls. “By tracking and categorizing this information according to a rigorous accounting system, corporate management can determine with a high degree of accuracy the cost per unit of production and other key performance indicators” (Kucera 2018). Therefore, Hampshire Company has requested that I calculate how traditional and…

Fungible Treasury Bills (T-Bills) Product sheet Fungible Treasury Bills (T-Bills) are government short-term debt securities issued by way of invitation to tender. A fungible security can be issued, the first time, in form of a fixed size then subsequent issues are matched. Every new security issued is attached to the previous with the same characteristics (nominal unit, maturity date, basis for interest calculation). Only rates and issuance dates change. Fungibility increases the size of…

Therefore our Cost of Excess Capacity is 235.600 (19% of Total Quality Control Costs). When we calculate assuming that there are no alternatives uses for the resources tied up in the quality control process, we are essentially stating that since we are not utilising the capacity which we paid a fixed cost for, we are incurring the cost of having it available and not using it. The inability to effectively utilise this excess capacity in another engagement demonstrates the company’s inability to…

Company Liquidity Although Tesco took a loss this year, not all hope is lost considering that they seem to be efficient enough when covering their short-term obligations. Their net income of 129 million GBP last year seems to be a safety net for them that they can incur these losses this year without effecting their current and quick ratios to an extreme. What Tesco considers to be its current assets amounts to a total of 15,417 million GBP. There is a total of 19,405 million GBP in current…

What is the meaning of GAAP and IFRS? GAAP is the abbreviation for generally accepted accounting principles. Which is the values and guidelines pointed out by the Financial Accounting Standards Board (FASB). IFRS stands for International Financial Reporting Standards which intel’s the accounting standards developed by the International Accounting Standards Board (IASB). Which is the global standard for the planning of shared company financial statements. The start of the U.S. GAAP and IFRS was…

Individual Assignment Part I: According to the data of Nike, Inc. and Timberland Bancorp, Inc. from December 2008 to December 2013 showed by the attached excel, the annualized expected return, standard deviation and correlation of the two stocks are calculated and revealed. Using the result of the closing price minus the opening price to divide by the opening price can figure out the monthly returns during the 5 years in order to obtain the average monthly return. Then, the average monthly…

1. Introduction 1.1 Background on Financial Ratio Analysis Lenders and investors alike often use financial ratio analysis when determining the performance, solvency, and general business practice of a firm. Ratio analysis can serve as a tool to understand the relationship between quantities, and can be a useful benchmark in the comparison of two or more organizations within a common industry (Faello, 2015). The use of these ratios can determine factors such as asset and debt management, as well…

article into pieces, and explains how the article informs to the audiences. This article written under business is report with misleading over the proliferation of various Non-GAAP and GAAP in the company. GAAP stands for General Accepted Accounting Principles and the purpose in this article is to point out what is wrong with financial reporting, and the authors want all people are doing business have to usefully describe the truth, and nothing with the truth in financial reports. The authors…

16oz Bottle Expansion The possibility of expanding production to include a 16oz bottles in BBI’s current 32oz bottle production is great news. However, it is a decision that requires significant analysis as it will impact BBI well into the future. This memo will provide a detailed review of the decision process along with a discussion of several scenarios to help with making the decision to enter the 16oz bottling market. As a supplement to the memo, attached is an excel spreadsheet that…