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Direct or indirect format is permitted The cash flow statement is for all 3 net assets categories: unrestricted, temporarily, permanently restricted Cash flows are Not displayed separately for the 3 categories 3 Categories (Operating, Investing, and Financing) Interest payments and revenues appear in the operating section. The indirect method ...

18 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 567 | Lượt tải: 0

Standard cost analysis may be used in any organization with repetitive tasks. A relationship between tasks and output measures must be established. I am not responsible for the unfavorable laborefficiency variance! You purchased cheapmaterial, so it took moretime to process it. You used too much time because of poorly trained workers and ...

15 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 482 | Lượt tải: 0

The relevant question is . . . “How much of the cost variances is due to higher activity, and how much is due to cost control?” To answer the question,we mustthe budget to theactual level of activity.

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Valuation of investments at cost or market value is not always evident value impairment that is other than temporary. Propriety, effectiveness, and risk disclosure of derivative securities used as a hedges Determination of the fair value of derivatives and securities, including valuation models and the reasonableness of key assumptions. Deter...

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The statement must distinguish changes in net assets that are permanently restricted, temporarily restricted, and unrestricted. Restrictions must be outside donor-imposed Can use three separate statements, columns or other formats Revenue vs support: Support: is a class of revenues limited to gifts such as contributions Exchange transaction, su...

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The success of a budget program depends on three important factors: Top management must be enthusiastic and  committed to the budget process. Top management must not use the budget to pressure employees or blame them when  something goes wrong. Highly achievable budget targets are usually  preferred when managers are rewarded based on  mee...

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Names and dates Instructions for descriptions and counts Noting obsolete or worn items Tag control—compilation of counts Shutting down production Controlling inventory movement including shipping and receiving Supervisory approval Making changes and corrections

16 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 493 | Lượt tải: 0

At Breakers, five pounds of material are required per unit of product. Management wants materials on hand at the end of each month equal to 10% of the following month’s production. On March 31, 13,000 pounds of material are on hand. Material cost $.40 per pound. Let’s prepare the direct materials budget.

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Cash flows from Operating activities must be presented using the direct method Four Parts (described on next slide) Reconciliation of Operating income to cash flows from operations May also have noncash financing and investing section

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DEPRECIATION EXPENSE Recalculate using USEFUL LIFE, SALVAGE VALUE, COST, and METHOD Evaluate REASONABLENESS of USEFUL LIFE, SALVAGE VALUE, etc. Is depreciation consistent with COMPANY POLICY (half year conventions)? LEASE AGREEMENTS Verify proper treatment (Capitalized or Operating) Ensure disclosure in footnotes is appropriate

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