Project accounting

The Adelphia scandal is the one the most extensive financial frauds ever happened at a public company. The fraud was long-lasting: the company systematically excluded billions of dollars in liabilities from its consolidated financial statements since at least 1998 till March, 2002. Huge amounts of money were hidden on the off-balance sheet affiliates' books. The company was found in 1952. In 1986 it was publicity listed. Rigas Family owned five cable television companies, which were reorganized…

formula you derived above, what cafeteria costs you would expect to be incurred at the number of meals served are 2000 and 3500. (6 marks) D. What is the major limitation of the high-low method? (6 marks) [20 marks] EAB10603_Management Accounting 1 3 CONFIDENTIAL Question 3 Genesis Wheels manufactures spoked and solid bicycle wheels. The company relies on an activity based costing system. The following information has been provided for the cost pools: cost Pool machine…

Also “in terms of interpretation, the long-term solvency ratio should be at least 1.0 but as a general rule, the higher the ratio the better the organization is doing” (Martin, 2001). The ratio for 2002, 2003 and 2004 is less than the average which means that they have nothing to liquidate. If the ratio of a nonprofit organization is less than 1.0, the organizations financial feasibility might be in question. The organization in 2002, 2003 and 2004 is doing pretty good. There is no question…

Q.1 a) Concept, package, and process: Woodland adventure playground is one of the largest in the country designed for leisure sports with adventurous and exciting experience for visitors. Along with sports like slides, ropewalks, towers and trampolines, the kids can learn responsibilities at working farmyard by having a chance to handle “livestock like pigs, sheep, fish, and chicken” (Nigel Slack). The park has to be regularly maintained to provide a safe and enjoyable experience for visitors,…

Prior to its demise, Enron, an American energy, commodities, and services company, was one of Wall Street’s highest rated conglomerate. Enron was regarded as one of the most powerful and successful corporations in the world. Unfortunately, as America would learn, their success did not come without a consequence. Enron participated in side partnerships with investment banks, and was involved in special purpose entities also known as off-the-books partnerships, in order to hide company losses.…

Materials, labor, and overhead were his responsibility. This was done to provide incentive to control all costs whether caused by use waste, damage, theft, or inefficiencies. The Apple iPhone 4 The iPhone 4 contained more than 100 components manufactured in plants located in Europe, Asia, and the United States. For examples, Samsung supplied flash memories and application processors, and Infineon (a German chip maker) supplied chips that send and receive phone calls and data. A gyroscope, new…

A cost accounting system is a process or a method used by a business to estimate the cost of their products and to determine how a firm utilizes and earns funds. It aids management in making decisions and in the planning and control of an organization. All types of businesses, whether service, manufacturing or trading, healthcare, require cost accounting to track their activities. Therefore, different firms follow different methods for verifying cost accounting. This paper focus on activity…

Life was different growing up in South Africa, with divorced parents (from the age of 5) and my mother being the sole provider in a low-income family. Until the age of eighteen, my objective was to finish high school and to start working, because at the age of sixteen I was almost self-sufficient. The public school, which I had access to, in the late 1990’s did not offer any activities or organization involvement. My first contact with student life was when I became a student at Lone Star…

The client, Barae Pharmaceuticals had won a $2 million judgement against Bara Pharmaceuticals for the misuse of Barae’s name. Bara Pharmaceuticals had used Barae’s name inappropriately in the generic-label over-the-counter market. Bara, the defendant in the case, had closed down and filed for Chapter 7 bankruptcy when the judgement was entered. With the judgement entered and debt being incurred, the CEO and CFO of Bara had left the country and returned to South America. Additionally, the 125…

Introduction The nineties were a strange, almost fantastical time; new technology was being created, Presidents were playing the sax on television, and Bernard, informally known as Bernie, Madoff was serving as the NASDAQ chairman. Bernie climbed the economic ladder, eventually being in control of millions of investments in 2008 until it was found out that he had been the head of the largest Ponzi scheme in America. Madoff’s case is not only important to the how expansive it was, but how…