6 Steps in Creative Problem Solving
This article takes the approach that finance professionals must now focus on more than
just debits and credits of accounts. As professionals move into higher management positions,
Read the case, "The Case of the Missing Time" on pages 150-154. Use the following questions to
spur your analysis of the case.
1. What principles of time and stress management are violated in this case?
1. There are several principles violated by Chet in
EXAM 1 PRACTICE
CHAPTER 1 QUESTIONS
Who was probably the first modern forensic accountant?
a. Alex Moore
b. Cleveland F. Bacon
c. James McClelland
d. William H. Shawcross
e. None of the above
Who probably coined the phase forensic accounting?
1. What principles of supportive communication and supportive listening are violated in this
1. Some of the principles of supportive communication and supportive listening that
are violated in this case are congruence, problem-oriented, validating,
1. What conceptual blocks were experienced by the smokejumpers?
1. There were several conceptual blocks experienced here. First, they had a feeling
that it was not a 10:00 fire, but continued on anyway. They ignored the rangers
advice early on that it was
1. What are the stages of development of the ELITE team? Identify specific examples of
each of the four stages of team development in the case.
1. The team followed the normal progression of Team Development. In the
Forming stage they spent Monday morning
AC574 Quiz 1 Review Questions:
IMPORTANT: Please review the following questions before taking the weekly quiz.
39. (TCO A) Control risk is:
a) A risk that a material error in the balance or transaction class will not be prevented or detected.
b) The risk
Heritage Appliance Company recently announced plans to construct the River Woods
manufacturing plant, replacing the companys original, flagship facility adjacent to the
company headquarters in Edgemont. In announcing the new plant, the company stated
Grade Details 1. Question:
(TCO A) Which statement is false?
The Public Oversight Board was an independent private sector
body created in 1977.
The Public Oversight Board's report recommended a number of
forensic techniques to be included in
1. Should this decision be made by you alone? Why or why not?
1. The decision should not be made by me alone. As the text stated, I have very little
experience and lack the confidence to accurately assess the portfolio. Since I have
valuable resources (4
Grow Your Power, Boost Your Influence
Dr. David G. Javitch
This article is interesting in that it looks at how an entrepreneur can gain power and
influence. Being an entrepreneur I found this article to be helpful and thought-provoking beca
1. What should the young manager do?
a. I would say the young manager should accept the position. Assuming there is not
a non-compete clause, this manager has every right to jump to the other company
in pursuit of career advancement. There is no doubt tha
A New B-School Specialty: Self-Awareness
According to an article written in Forbes regarding leadership, you cant be a truly
effective leader without better self-awareness than most people ever have. The author, Pino
Audia suggests that lea
If a company issues 100 year bonds, would you consider the securities debt or equity or both?
Did the rating agencies cause the 2008/2009 credit crisis? If not, did they contribute to it? What
were some of the causes of the credit crisis and why have the
#17Elasticity can be defined as a percentage relationship between two variables, that is, a
percentage change in one variable relative to a percentage change in another. The equation for
this is as follows, the coefficient of elasticity equals the percent
Are your employees up to the task? Why delegation and empowerment are the keys to
By: Heather Kauffman-Peters
This article summarizes the importance of delegating tasks to employees while
empowering them at the same time. The
Review of Good to Great
Good to Great
By: Jim Collins
Good to Great is a book that has been a well-received text with over 1 million copies
sold. It is a book that I have always heard good reviews on, but never felt that being involved in
9. Essentially, what do you think are the changing aspects of the economics (i.e., customers, technology, and
competition) of the following industries?
1. Telecommunications has always been about technology. With that, however, comes
What are the main characteristics of a perfectly competitive market that cause buyers and
sellers to be price takers? Explain.
The main characteristics, according to the text, of a perfectly competitive market that cause
buyers and sellers to be price tak
Discuss the problems of measuring productivity in actual work situations.
The challenge that is often seen regarding measuring productivity is tangible versus
intangible measurable. For instance, in industries that focus on goods, it is easier to assess
1. Opponents of globalization argue that offshoring leads to a loss of jobs in the country that
transfers jobs to lower- wage countries. Evaluate all aspects of this argument.
There are many arguments for and against globalization. In this discussion, the
In certain industries, firms buy their most important inputs in markets that are close to
perfectly competitive and sell their output in imperfectly competitive markets. Cite as
many examples as you can of these types of businesses. Explain why the profit
1. Journalize transactions
2. Post transaction data to ledger
3. Prepare a trial balance
4. End of period adjustments
5. Adjusted trial budget
6. Prepare Financial Statements
7. Journalizing and posting closing entries
8. Preparing after-closing trial
Project A would be chosen because the cutoff period is paid off in 2 years as opposed to 3 years
a. Home Depot uses the straight line method.
b. HD evaluates its assets each quarter for indicators of potential impairment. These
indicators include period losses combined
Cost Residual value or salvage value / Years of useful life = 40,000 5,000 / 5
Cost of buil
7.3There are several controls that are lacking at White Electric Company enabling the
bookkeeper to steal nearly $416,000 before being caught. First, there was poor internal control
over cash. Only the bookkeeper was responsible for writing checks and bal
Average cost method
Specific Identification method
Specification Identification Model:
62 units sold @ 1,500
28 units sold @ 1,600