Write a 500-1,000-word essay describing bad debt expense and how it is recorded when using
the direct write-off method. How is it recorded when using the allowance method?
Many businesses today will extend a line of credit to their customers. In fact some
There are many tools that can be used to determine a companys financial status and stability, especially
when determining whether or not a financial institution will authorize a loan request. One of these
accounting tools that is used to determine a compa
Write a 500-1,000-word essay describing the purpose of GAAP and the organization
responsible for creating and enforcing these standards.
Being in business in the United States is a dream come true for many people. Having and running your
own business can
CHOOSING THE RIGHT VALUATION MODEL
This program is designed to help in choosing the right model to
use for any occassion.
Inputs to the model
Level of Earnings
Are your earnings positive ?
(Yes or No)
If the earnings are positive and nor
Write a 500-1,000-word essay describing the three main characteristics of liabilities.
Businesses need to account for all monies that flow through them. There are different categories for
posting monies coming in and monies going out. These categories are
Write a 500-1,000-word essay describing an intangible asset. Provide examples to illustrate
There are various types of assets that a business holds. Furniture, equipment, land, buildings, and
vehicles, to name a few. Another, perhaps more com
Write a 500-1,000-word essay describing the process of controlling petty cash and the process
of bank reconciliations.
Cash is the most liquid of all company assets. There needs to be a control process in place for all of the
cash assets. There two main s
Write a 500-1,-000- word essay describing an accounting information system. What does an
effective accounting information system provide for a business?
As defined in the textbook, an accounting information system, otherwise known as an AIS is a system
Write a 500-1,000-word essay describing the four accounting principles that affect merchandise
inventories. What is the goal of conservatism?
Doing accounting for a merchandiser is more complex because you have inventory that needs to be
accounted for. Th
Write a 500-1,000-word essay describing the difference between single-step income statements
and multi-step income statements. Show examples
When preparing your financial statements for your business, one of the required statements, the first of
Write a 500-1,000-word essay describing how and why the Income Summary account is used.
Is this account a temporary or permanent account?
At the end of the year every business must prepare financial statements and close out the books to get
ready for the
Write a 500-1,000-word essay describing the difference between cash-basis and accrual-basis
accounting, and explain which method is consistent with GAAP
In every business, whether it is a large corporation or a small Mom and Pop shop, transactions must be
Question 1 - ICMA 08.P2.13 - Budget Methodologies
Budgeting problems where departmental managers are repeatedly achieving easy goals or failing to
achieve demanding goals can be best minimized by establishing:
A. Better communication