Accounting Answers

Margetis Inc. carries an average inventory of $750,000. Its annual
sales are $10 million, its cost of goods sold is 75% of annual sales,
and its average collection period is twice as long as its inventory
conversion period. The firm buys on terms of net 30 days, and it pays
on time. Its new CFO wants to decrease the cash conversion cycle by 10
days, based on a 365-day year. He believes he can reduce the average
inventory to $647,260 with no effect on sales. By how much must the
firm also reduce its accounts receivable to meet its goal in the
reduction of the cash conversion cycle?

1. Explain the procedures you might need to follow to access the financial data and plans necessary for efficient operation of a team/ section/ division.

2.Operational staff are the people actually doing the job in each of the cost centres. These people are in the best position to identify problems, constraints or issues relating to current job costing budgets and to advise financial personnel of requirements for future budgets—to help prioritise resource needs for the next job costing exercise. They should be included in consultative processes for advising on cost information when formulating budgets.

Comment on this statement and the implications for expense in the organisation.

List and describe the benefits and application of the methods for presenting and formatting financial data.

comments on a consolidated profit and loss account.

you are required to analyse the financial statement of the Mauritius Commercial Bank Group for the year 2016 by elaborating on its financial position,financial performance,cash flows and changes in financial position.

What is pension's problem?

ACTIVITY 1:

SALES AND COGS ACTIVITIES FOR 2015

The restaurant sold 54,600 take away meals, and the price per meal was $10.50. The food cost per meal sold was $4.60. Also 20,000 units of soft drinks were sold during the year. Soft drinks are sold for $2.50 and the cost price was $0.80.


Based on the above Sales and COGS activities for 2015;

Prepare a spreadsheet with the average monthly Sales for food and drinks and the average monthly COGS for meals and drinks; in addition include end columns for the annual totals and another with the average quarterly totals.

1.Utopias residents are endowed with 100 labor units and 75 capital units. Idealands residents are endowed with 75 labor units and 50 capital units. which nation is relatively labor abundant and which is relatively capital abundant?
2. Suppose that, at the current level of production, sandwiches require 1 labor unit and 0.5 capital units to produce, while bicycles require 0.9 labor units and 0.9 capital units. Based on this information, which of the two goods is relatively capital intensive in its production process, and which is relatively labor intensive?
3.Answer the following using your answers to question 1 and 2. Suppose utopias and idealands residents begin to trade. Which good will utopias residents export, and which good will utopias residents import? explain your answer in the context of the Heckscher-ohlin theorem.
5.Based on your answer to question 3, explain how free trade between the residents of utopia and idealand benefits or harms workers and the capital holders in the two nations.

Why and how is depreciation expense reported in a statement of cash flows prepared using the indirect method?

Is this potentially confusing to the user of the financials?

What are realized gains/losses?
What are unrealized gains/losses?

When is each kind calculated, and where are they reported on the financial statements?

Do you think the reporting requirements of these gains/losses adds to or detracts from the users' of financial statements understanding of the company?