Accounting Answers

the pink-collar ghetto is a form of discrimination based on

A and B are partners in a firm sharing profits in the ratio of 2 : 1. C joins the firm.
A surrenders 1/4th of his share and B 1/5th of his share in favour of C. Find the new profit sharing ratio.

You notice two price relationships : when there is a drought the price of maize rises, when the price of potatoes goes up, the price of bread also increases. use a supply and demand diagrams to explain these two relationships

Verification checks assist by finding inconsistencies in the data. What other checks can a user make to review the accuracy of data input? 80–100 words

What are the differences between manual and computerized systems when entering final transactions?

When entering transactions into cash and credit journal systems, what entries need to take place?

why is it important to state the assets and liabilities at their correct accrual basis amounts at start of the accounting cycle

Using the following template and line items data, compile a budget actual variance report for month of September.
• Salaries and on-costs total budget $175,500, YTD $75,000, monthly budget $2,600, monthly actual 2,800
• Travel total budget $40,000,YTD $10,000,monthly budget $5,600,monthly actual $1,600
• Stationery total budget $10,000, YTD $3,000,monthly budget $2,000,monthly actual $1,500
• Office expenses total budget $12,000,YTD $10,000,monthly budget $8,000, monthly actual $8,000
• Training(OH&S) total budget $24,000,YTD 0,monthly budget $2,000,actual $0

You are the Chief Financial Officer (CFO) of a leading retailer that imports furniture and directly sells those online. You have noticed that for the past two years the difference of actual figures and budgeted figures are significant. You are a bit worried about that. You also have been notified by the board members that the reports have not been distributed timely this year which may cause a delay in the projection of next year’s revenue. You have decided to review the budgeting process.
Write a 200 word report on the importance of having a systematic budgeting process in the company