Accounting Answers

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?

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

What are the limitations of revenue forecasting technique?

How can this be countered?

d. In what circumstances do NFPs compete for funding and what can influence the outcome of funding applications? (50–80 words)

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.\

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.

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.