Acc 411 Pinnacle Case 1 Essay

Assistant: Markus Leroy Johnson PAC (Surgical assistant was used for soft tissue protection and retraction and also for maintaining reduction during temporary and permanent fixation use of surgical assistant was medically necessary, and to prove the safety and efficacy of the procedure.)

E. Why does the auditor not use the same tolerable misstatement or percentage of account balance for all financial statement accounts?

Sparkle Company is a Nigerian diamond mining company. Sparkle is a joint venture, 50 percent owned by Shine and 50 percent owned by Brighten. Both Shine and Brighten are U.S.-based companies with their functional currency being the American dollar. Sparkle Companies functional currency is that of Nigeria, being the Naira. During 2009, Sparkle had several transactions with its joint venture owners and outside parties. The details of Sparkle’s transactions are three loans, three expenditures, and one revenue stream. The loans the company took out were $1 million from Brighten, $1 million from Shine, and 300 million Naira from a local Nigerian bank. The expenditures

Thomas Foods is a third party entity that will best benefit working off of a Purchase Order over trying to change their accounting procedures entirely. With a

ASC 320-10-35-33F: “Changes in the quality of the credit enhancement should be considered when estimating whether a credit loss exists and the period over which the debt security is expected to recover.”

This case is talking about an executive retreat. It was introduced by John Matthews who was a executive had been selected to attend the two-and-a-half-week retreat. The retreat was more like a competition about academic and athletic. The team members should not only get know each other and cooperate with teammates but also need to compete with others. The whole participants were broken into five groups and their aim was to win the competition. There are several sessions about academic and athletic that the participants should complete. After the introduction part the case showed the experience of John. Before the group meeting John was wondering and worried about this retreat. When he was taking the first group meeting, he tried to learn

1. A company’s ending accounts receivable balance and the period’s advertising expense would be found on which financial statements, respectively

On a snowy January evening, the Midwestern Medical Group (MMG) management team held a retirement party for Judith Olsen, MMG president. During the evening, Olsen reflected back on the years she had worked for MMG with mixed feelings about her experience. Over the course of their eight-year integration

Read Rush Johnson Farms Inc. v. Missouri Farms Association, 555 S.W.2d 61 and post a draft case study to the discussion board. Identify the Facts, Issue, Holding, Reasoning and Disposition. Case study #1 will be due week 3. This exercise will help you work through the reading a case prior to receiving a grade. Use the LEXIS NEXIS database through the Webster library to access the case.

At the same time, since PP&E increased, D,D &A had a same trend. As for Working Capital, As Current assets rose more than Current liabilities. The number increased. Also, Net Free Cash Flow cannot be ignored because it showed negative number in 1995, and NFCF is a crucial component to calculate stock price.

With this company the inventory management ratios further indicate that there may be an issue with inventory and inventory controls. The inventory turnover ratio is lower than the industry average and the days’ sales in inventory are high. A company wants to turn inventory quickly to reduce storage costs, and

This is due to the fact that inventory and accounts receivable are left out of the equation. Based on the cash ratio, this company carries a low cash balance. This may be an indication that they are aggressively investing in assets that will provide higher returns. We need to make sure that we have enough cash to meet our obligations, but too much cash reduces the return earned by the company.

Inaash (a Lebanese non-profit organization that supports the Palestinian refugees) has created jobs for thousands women in camps through the production of Palestinian embroidery products. Although the organization had made significant achievements—from supporting refugees to offering medical help to elderly and sponsoring children’s education—major changes in its environment have resulted to diminishing sales and increased dependence on donations. As a result, Inaash’s

“There are two relevant financial aspects of inventory. First, the accounting measures of inventory stocks and flows affect both the income statement and balance sheet. Second, the level of inventory held affects the amount of capital needed as well as the income of the period” (Bierman &

Financial statements play a vital role in revealing the financial position of an organization so it is made sure that they are presented in an appropriate and understandable manner. They provide business stakeholders both inside and outside a clear picture of the current financial standing of the business enterprise. Preparing these financial statements in not an easy task and requires professional judgement so prudence is a key accounting principle which makes sure that assets and income are not overstated and liabilities and expenses are not understated. Most businesses produce three major financial