Accounting Answers

1. What is the budget calendar
2. Describe how the accountant assists decision making by identifying budget trends
3. What three steps should be undertaken when making assumptions about feasibility?
4. What accounting standard is relevant to feasibility projections and what other safeguards ought to be considered in regard to budget reporting?
5. Internal management and external funding bodies use budgets to help assess which projects should be chosen. How are new project budgets constructed?

What five factors should the annual reporting timeline cover?

On September​ 30, 2014, when the market interest rate is 4 ​percent, Champs Ltd. issues $9,750,000 of 6​-percent, ​20-year bonds for $12,417,159. The bonds pay interest on March 31 and September 30. Champs Ltd. amortizes bond premium by the​ effective-interest method.

prepare an amortization table for four semiannual interest periods.

The disability manager, Helene, is constantly asking you to increase her budget. You have explained to her on a number of occasions that the board has officially adopted the budget. What will you do if her request begins to take up too much of your time? (200 words)

explain all about sunk fund account and solve an example

How does revenue forecasting affect the rest of the budget process?

To what extent are the employees in a team/ section/ division responsible for:

Data collection to support the budget?
Developing realistic and attainable budgets for the section/ division?
Monitoring expenditure?
Using the budget to measure actual work against projected work achievements?

My textbook says that
NI(National Income)= GNP-(Net income received from rest of the world)-(Depreciation)-
(Statistical Discrepancy)-(Indirect Business Taxes)-(Business Transfer Payments)
I do not understand why (Net income received from the rest of the world) is subtracted from GNP as the definition of GNP already subtracts this amount. Shouldn't NI=GNP-(Depreciation)-(Statistical Discrepancy)-(Other adjustments)?

Which budgeted statement is the bank account reconciled to? What does reconciling the bank account reveal in regard to the cash flow budget?

what category of budgets are the governance board more likely to be interested in?

with a long-term view, which specific two budgets are the most relevant to the governing board and for what reason?

A new governance board member is constantly asking the accountant questions about the motor vehicle expenses that are constantly over budget. They blame one of the business managers who they dislike and point to the fact that the manager has an unnecessary sports pack on their car. What type of budget does the motor vehicle expense belong to? Who is responsible for this budget? What steps would you take if you were the accountant?