Accounting Essays

MetalWorks is a company that produces and distributes steel file cabinets and lockable steel storage boxes, known in the Industry as safety boxes. Currently the company runs two manufacturing facilities, one located in Des Moines, Iowa which manufactures both products and the other located in Dover, Delaware that produces just …

Beer Company 1 is a “national brewer of mass-market consumer beers sold under a variety of brand names” (pg. 120). As one might expect, this national company has “an extensive network of breweries and distribution systems and owns some beer-related businesses” (pg. 120). It also owns several major theme parks. …

Instructions: This case describes the evolution of an innovative, entrepreneurial firm in the medical technology industry. The successes—and difficulties—of the business are due in large part to management’s attempts to design and use formal control systems to achieve profit and performance goals The case is structured in five chronological sections …

Ann leases an office in Ted’s building for a one-year term. At the end of the period specified in the lease, the lease ends without notice, and possession of the office returns to Ted. If Ann dies during the period of the lease, what happens to the leased property? When …

Bill Simon says, “We should get rid of the FASB and SEC since free market forces will make sure that companies report reliable information.” Do you agree? Why or why not? I disagree for several reasons. One, investors view profits a measure of managers’ performance, therefore giving managers an incentive …

Why a business needs finance: Finance: the management of large amounts of money, especially by governments or large companies. can be a real benefit when it comes to business success as well. your own personal finance helps you to understand how to manage not only business finances, but set goals …

Based on my analysis of the transcript, I believe that RedPack Beer Company should increase its reserve, specifically the reserve related to Golden Holdings. Per the discussion with Katie Henson, RedPack Beer does not currently maintain a reserve for the outstanding balance of $2,706.54. Clint Maddox mentioned that RedPack would …

Ancient Egyptian bookkeepers kept meticulous records of the inventory of goods kept in royal storehouses. The accuracy of these records was assured by the swift and severe penalty that came if mistakes were ever discovered. ANCIENT ACCOUNTING (CONTINUED)  In Mesopotamia scribes kept records of commerce on clay tablets. In …

The Accrual basis of accounting is far superior to the Cash basis of accounting. Discuss. The difference between accrual and cash basis of accounting is cash basis accounting recognizes revenues and expenses depends upon on timing. Cash basis accounting is simple, recognizes revenues when cash is received and recognizes expenses …

Taxation It is the inherent power by which the sovereign state imposes financial burden upon persons and property as a means of raising revenues in order to defray the necessary expenses of the government It is the imposition of financial charges or other levies , upon a taxpayer (an individual …