Accounting Standards And Financial Statements Homework Help
- November 2, 2017
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- Category: Accounting QA
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1. A major network is launching a reality program called The Accountant. A group of recent accounting graduates will be competing for a spot in a national accounting firm.
a.What would make someone a good candidate for The Accountant?
b.Describe three challenges the candidates should complete on the program, using as much detail as you can. The challenges should test contestants’ skill in challenges related to topics covered in this course. Be creative.
c.Describe how the challenge will test the contestant’s accounting skill(s) and knowledge as well as the skills the contestant should have to complete each challenge successfully.
2. How does an actual system differ from a normal costing systems? What advantages does a normal costing systems offer?
3. Why is it necessary for a company to specify a relevant range of activity when making assumptions about cost behavior?
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4. Why is it more important to have legally binding cost accounting standards for defense contractors than it is for other entities?
5. What are the elements of the accounting environment? How do they affect the financial statements? Why are these elements important? How do they affect comparability between companies?
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