Accounting Answers

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

What are the limitations of revenue forecasting technique?

How can this be countered?

Im doing a presentation on Bernard Madoof and the ponzi sceme, and im stuck on making one of the slides for my power point, the question is "Explain the breakdown in or lack of internal control
(control activities)
Thank you.

Identify and describe four types and sources of data and information required for budgeting and forecasting. Explain how data is applied to budgeting and forecasting processes.\

California Mining is evaluating the introduction of a new one production process.Two alternatives are available.Production process A an inital cost of $25000 a 4 year life and a $5000 net salvage value and use of Process A will increase net cash flow by $13000 year for each of the 4 years that the equipment is in use
Production process B also requires an initial investment of $25000 will also last 4 years and it's expected salvage value is zero but process B will increase net cash flow by $15247 per year
MANAGEMENT believe that risk= adjusted discount rate of 12 percentage should be used for process A
If California Mining is to be indifferent (same NPV for Process A and B) between the two process what risk adjusted discount rate must be used to evaluate B ?

What is the relationship between variance analysis and system integrity?
Describe the process of collating, coding and classifying data in preparation for processing.

Identify and describe cost behaviour characteristics for the different cost elements of a product or service.
Describe the application of policies and procedures to managing accounting information.

You have been asked by management to prepare a report on why the personnel budget has a large negative variance. What information would you include in your report?

When reporting, why is it necessary to provide evidence to support your statements or conclusions?

What practices should these businesses and those who pay Commonwealth taxes complete?

A Makawerete Franchise expects to sell 50,000 big burgers annually. The special burgers can be ordered by packs only, and each pack contains 10 buns. The cost of placing an order is $50, while the storage cost is $0.50 per pack. According to their records the average daily sales of Big Burgers is 137, the maximum-ever daily sales is 250, and the typical minimum sales os 50. Packs with the Big Burgers normally arrive 10 days after the order. In the past the maximum delivery time was 20 days, and the minimum was 7 days.
Required:
a) How much is the EOQ? (5 marks)
b) Calculate the reorder point and explain it briefly. (5 marks)
c) How would the reorder point change, if the permanent safety stock is 100 packs? (5 marks)
d) What problems can arise from “understocking” of the Burgers? (5 marks)

A Makawerete Franchise expects to sell 50,000 big burgers annually. The special burgers can be ordered by packs only, and each pack contains 10 buns. The cost of placing an order is $50, while the storage cost is $0.50 per pack. According to their records the average daily sales of Big Burgers is 137, the maximum-ever daily sales is 250, and the typical minimum sales os 50. Packs with the Big Burgers normally arrive 10 days after the order. In the past the maximum delivery time was 20 days, and the minimum was 7 days.
Required:
a) How much is the EOQ? (5 marks)
b) Calculate the reorder point and explain it briefly. (5 marks)
c) How would the reorder point change, if the permanent safety stock is 100 packs? (5 marks)
d) What problems can arise from “understocking” of the Burgers? (5 marks)