All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Ask a Question
AI Study Help New

Search
Sign In
Register

study help
business
accounting and finance for non specialists

Questions and Answers of Accounting And Finance For Non Specialists

1.3 Management accounting has been described as ‘the eyes and ears of management’.What do you think this expression means?
Plumber and Company has a fleet of motor vans used for making deliveries to customers.The owners want to show these vans on the statement of financial position at their current values rather than at
What might be the effect of applying excessive prudence on the quality of decisions made by the owners of a business who are considering selling their share of the business?
What are the two aspects of each of the following transactions?1 Purchasing £1,000 of inventories on credit.2 Owner withdrawing £2,000 in cash.3 Paying a supplier for £1,000 of inventories bought
Refer to the statement of financial position of Brie Manufacturing shown earlier in Example 2.3 (page 47). What would be the effect on the statement of financial position of revaluing the property to
2.1 On Thursday, the fourth day of his business venture, Paul, the street trader in wrapping paper (see earlier in the chapter, pages 29–37), bought more inventories for £53 cash.During the day he
Explain the nature of the annual report.
Outline the multiple, conflicting objectives of the annual report.
Discuss the main contents of the annual report.
Evaluate how the annual report is used for impression management.
Explain the role that the annual report plays in the corporate governance process. LO1
Evaluate the stewardship/accountability, decision-making and public relations roles of the annual report and identify any possible conflicts. LO1
In your opinion what are the six most important sections of the annual report. Why have you chosen these sections? LO1
Why do companies prepare group accounts? LO1
What do you understand by the term ‘impression management’? Why do you think that managers might use the annual report for impression management? LO1
Be able to represent different types of cost in a graph.• Be able to use cost-volume-profit analysis to establish a break-even point and to assist in business decision making.• Be able to
Arthur Wright has owned and run a manufacturing business, A & A Wright (Ranges) Limited for many years. The business makes high quality, old-fashioned kitchen ranges. There has been a resurgence of
Understand the interaction between supply and demand and the interdependence of price and quantity.
Understand the various additional factors that play a part in pricing decisions.
Understand the interface between pricing and costing, with especial reference to cost-plus pricing.
Be able to apply knowledge of pricing issues across a range of industries and commercial activities.
Auger Ambit Limited is a manufacturing company that sets prices based on total costs plus a mark-up. For the year ending 31 December 20X5 the company is forecasting total fixed costs of £788000.
Ainsley Witt Limited manufactures old-fashioned dolls houses. The manufactur¬ ing process is labour intensive and involves a cost of £54 per house. Variable materials costs are £22 per house, and
Belvedere, Bharat & Burgess are in partnership together as accountants. They have recently enlarged their practice and have taken on extra staff. The partners meet to discuss charge-out rates, which
Joe Daley is the managing director of Daley Limited, which operates a small group of retail food stores in the West Midlands. Daley's was set up by Joe's father Edward and his uncle Eric several
1. Selling and distribution costs£63 477 54460 1 17 937
2. Proposed dividend. There are 20 000 shares in issue. A 25p dividend for each share gives a total of £5000 to be paid. Note that this will be included in current liabilities on the balance
3.Tangible fixed assets£Premises at net book value 65 700 Vehicles at net book value 44430 Fixtures and fittings at net book value 17 260 127 390
4.Other creditors£Creditor for corporation tax 19 500 Creditor for dividend 5 000 24 500
5.Reserves At 1 April 20X1 Profit for the year£161 479 40 685 202164 Uppingham Telephones Limited: Draft profit and loss account for the year ending 31 March 20X2 £Turnover 717 216 Cost of sales
12.1 Two of the following four statements are correct:1. Directors must prepare the company's accounts themselves.2. Directors take complete responsibility for the preparation of accounts.3.
12.2A Three of the following six statements are correct:1. The audit report of a company states that the accounts are correct.2. A private limited company does not have to make any information
12.3 Bayliss Chandler Limited has an authorised share capital of £30 000, split into 50p shares. Two-thirds of the shares are issued. In the year ending 31 May 20X3 a dividend of 6p per share is
12.4A Western Gadgets Limited has an authorised share capital of £24 000 denominated in 25p shares; 20 000 shares are issued. In the year ending 30 April 20X6 an interim dividend of 2p per share and
12.7 Butterthwaite pic has issued share capital on 1 January 20X1, as follows:• ordinary share capital: 68 000 £1 ordinary shares• preference share capital: £20 000 6% cumulative preference
12.9 The directors of Solar Bubble pic, a trading company, have asked the company's chief accountant to prepare a draft profit and loss account for the year ending 31 January 20X4 in time for them to
12.10A Downside Green Limited has the following balances relating to its position at 31 December 20X5;£Overdraft 7 746 Share capital 100 000 Loan repayable 31 December 20X9 100 000 Debtors 916278
12.11 Brighton Magnets Limited has the following balances in its books at 31 August 20X9:£Closing stock 186 420 Delivery vans at net book value 120 000 Secretarial costs 51 498 Electricity (admin,
12.12 Two of the following statements are correct:1. Listed companies are obliged to produce a social responsibility report as part of their annual report.2. Consolidated financial statements bring
Be able to compare actual results against flexed budgets.
Be able to analyse and understand the range of possible reasons for the variances that emerge from comparison of actual with standard costs.
The case study for this chapter brings together all the different variance calculations in a comprehensive example.Andrea Ellison is managing director of Francis & Follett Limited, an unlisted
18.4A Dillinger Thompson Limited produces a line of leather bags. Although they vary slightly in design the cost structure is the same for each bag. The company's budget for January 20X5 is as
Dillinger Thompson Limited does not absorb production overheads using an overhead absorption rate. It may be assumed that all of its overheads are fixed in nature.CHAPTER 18 STANDARD COSTING,
18.5 What is the sales profit volume variance for the month?a) £2 707 (A)b) £2 010 (A)c) £2 707 (F)d) £2 010 (F).
Understand the concept of capital budgeting and the need for control over capital investment decision making.
Understand and be able to apply two simple methods of capital investment appraisal: payback and accounting rate of return.
Understand the time value of money.
Understand and be able to apply more complex methods of capital investment appraisal: net present value and internal rate of return.
1. Write down the formula to show the present value at Time 0 of £1 at the end of year 3 at a discount rate of 2%. Then, using a calculator, work out the discounting factor.2. Write down the formula
1. Formula for £1 invested at 8% over 4 years£1 x(1.08)^Compounding factor = (1.08) x (1.08) x (1.08) x (1.08) = 1.360 2. Formula for £1 invested at 7% over 5 years£1 x(1.07)^Compounding factor =
21.16 Outhwaite Benson Limited runs a chain of hairdressing salons. The company's directors, Linda Outhwaite and David Benson, are considering a proposal to add sunbed facilities to their salons.
Explain the nature of a balance sheet.
Understand the individual components of a balance sheet.
Outline the layout of a balance sheet.
Evaluate the usefulness of a balance sheet.
The balance sheet and profit and loss account provide complementary, but contrasting information. Discuss. L01
What are the main limitations of the balance sheet and how can they be overcome? L01
Is the balance sheet of any use? : L01
Are the different elements of the balance sheet changing over time, for example, as manufacturing industry gives way to service industry? L01
State whether the following are true or false. If false, explain why.(a) A balance sheet is a collection of assets, liabilities and capital.(b) Stock, bank and creditors are all current assets.(c)
The following financial details are for Jane Bricker as at 31 December 2001.a s Capital 1 January 2001 5,000 Profit 12,000 Drawings 7,000 Required:Jane Bricker’s capital employed as at 31 December
Alpa Shah has the following financial details as at 30 June 2002.=Fixed assets 100,000 Current liabilities 30,000 Current assets 50,000 Long-term creditors 20,000 Required:Alpa Shah’s total net
Jill Jenkins has the following financial details as at 31 December 2001.£ eo Stock 18,000 Cash 4,000 Debtors 8,000 Creditors 12,000 Required:Jill Jenkins’ net current assets as at 31 December 2001.
Janet Richards has the following financial details as at 31 December 2001.£ 2 Land and buildings 100,000 Creditors 15,000 Plant and machinery 60,000 Long-term loan 15,000 Stock 40,000 Opening
Be able to identify the principal groups m society who need and use accounting information.
One of the following statements about the regulations governing limited company businesses is correct:a) All limited companies are obliged by company law to have an annual audit.b) A limited company
Explain and discuss the main divergent forces. lo1
Understand the macro and micro approaches to the classification of international accounting practices. lo1
Understand the accounting systems and environments in France, Germany, the UK and the US. lo1
Examine the convergent forces upon accounting, especially harmonisation in the European Union and standardisation through the International Accounting Standards Board. lo1
Why is the study of international accounting important? lo1
What are the main divergent forces and which are the most important? lo1
Compare and contrast the main features of the Anglo-American and continental accounting systems. lo1
Taking any one country, rank the divergent forces in order of importance. lo1
Has the UK more in common with the US than with France? lo1
Will the convergent forces outweigh the divergent forces? lo1
Explain the nature of the profit and loss account.
Understand the individual components of the profit and loss account.
Outline the layout of the profit and loss account.
Evaluate the nature and importance of profit.
Why is the profit and loss account such an important and useful financial statement to such a variety of users? L01
‘There is not just one profit there are hundreds of profits.’ Do you agree with this statement, taking into account the subjectivity inherent in calculating profit? L01
The matching principle is essential to the calculation of accounting profit. Discuss. L01
Over time, with the decline of the manufacturing company and rise of the service company, stock, cost of sales and gross profit are becoming less important. Discuss. L01
Joan Smith has the following details from her accounts year ended 31 December 2001.Sales £100,000 Purchases £60,000 General expenses £10,000 Opening stock £10,000 Closing stock £5,000 Other
Dale Reynolds has the following details from his accounts for the year ended 31 December 2001.£ Ss Opening stock 5,000 Closing stock 8,000 Purchases 25,000 Purchases returns 2,000 Sales 50,000 Sales
Mary Scott has the following details for the year to 31 December 2001.is £Sales 200,000 Income from investments 3,000 Opening stock 5,000 Wages 4,000 Purchases 100,000 Insurance 2,500 Closing stock
A Interim financial statements are:a) first drafts of the final financial statements of listed companiesb) provisional financial statements that are awaiting auditc) half-yearly financial statements
Warminster Toys pic has a total issued share capital of £3 000 000 in 50p shares. The company decides to make a rights issue of one-for-five at a price of £5.42 per share. To take up the rights the
Willoughby Wooster pic has a total issued share capital of £1 000 000 in 25p shares. The company decides to make a rights issue of one-for-two at a price of £2.70 per share. To take up the rights
A Tatiana, a friend of yours, has recently been left approximately £50 000 of listed company investments in her grandmother's will. She has been trying to read the Financial Times in order to see
Explore the importance of accounting measurement systems.
Critically evaluate historical costing.
Investigate the alternatives to historic costing.
Outline the accounting equation. L01
Understand double-entry bookkeeping. L01
Record transactions using double-entry bookkeeping. L01
Balance off the accounts and draw up a trial balance. L01
Why is double-entry bookkeeping so important? L01

Showing 400 - 500 of 1574

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved