The introduction of a national minimum wage custom essay

Project in Economics of Public Policy. The introduction of a national minimum wage is increasingly debated in many countries in Europe: Germany has approved the introduction of a national minimum wage in July. Italy has been debating this for some years now. Other countries have already introduced it sometime ago, including the UK in 1999.
A newly appointed Minister for Work and Pensions, with no knowledge on this subject, will be meeting her counterparts at a EU summit, where she has been asked to brief them on the UK experience so far. The Minister has asked you to:
Clarify what is the economic rationale behind the introduction of the minimum wage? What are the economic theories in favour and against the introduction of the minimum wage?
What evaluation can be made of the UK experience?
What conclusions would you draw on the introduction of the minimum wage and lessons for other countries?.

 

Allocation of Costs custom essay

Analyze the following scenario: Jump Hospital currently allocates all maintenance department costs based on departmental square feet.  However, the manager of the pharmacy department has suggested that an ABC approach be used for the portion of the maintenance department costs that relate to repairing equipment.  Her contention is that the pharmacy has relatively little equipment that breaks.  However, it must subsidize many high-tech departments that require expensive equipment repairs.  Using the tables below, calculate the maintenance cost assigned to the pharmacy using the existing method and using an ABC approach.  Clearly label your calculations in your analysis.  Respond to at least two of your classmates’ postings.

Maintenance Costs

Routine Maintenance

Repairs

Total

Volume (Square Feet)

100,000

800

Labor Hours

10,000

4000

14,000

Labor Cost/Hour

$12.00

$18.00

$13.71

Supplies

$20,000

$80,000

$100,000

Administration

$15,000

Department Information

Pharmacy

All Other Departments

Total

Square Feet

2,000

98,000

100,000

Volume of Repairs

3

797

800

Hours of Repairs

6

3,994

4,000

Supplies Used for Repairs

$200

PPS Sampling custom essay

 

You are the auditor for a company and need to review the company’s accounts receivable using probability proportional to size (PPS) sampling. In addition, the board of directors has requested that you and your team present an explanation of your PPS process at its next monthly meeting.

Individual Portion:

Use the following company data and the PPS Sampling Tables 1 & 2:

  • The recorded book value of these accounts is $3,460,000.
  • The company has a tolerable error of $63,460.
  • The anticipated error is $13,000.
  • The risk of incorrect acceptance is 5%.
  • The acceptable number of overstatements of misstatements is 2.

Use probability proportional to size (PPS) sampling to do the following:

  1. Determine the reliability factor.
  2. Determine the correct expansion factor.
  3. Determine the sample size you should use.
  4. Determine the sampling interval you should use.

This is a separate portion of the project. It needs to be on a separate sheet then the top portion.

  1. The objective of using probability proportional to size sampling (PPS) to test account balances
  2. Specifically, how you used PPS to test this company’s account balances
  3. The purpose of the sample size and the sampling interval

Auditors and Regulatory Oversight custom essay

The Securities and Exchange Commission (SEC) regulates public companies. The SEC has found that some of these companies have violated GAAP by using creative accounting practices to mislead investors and creditors regarding the health of their company.

Research a recent accounting scandal within the last five (5) years where the SEC accused public companies of accounting irregularities.

Write a three to four (3-4) page paper in which you:

  1. Analyze the audit report that the CPA firm issued. Ascertain the legal liability to third parties who relied on financial statements under both common and federal securities laws. Justify your response.
  2. Speculate on which statement of generally acceptable auditing standards (GAAS) that the company violated in performing the audit.
  3. Compare the responsibility of both management and the auditor for financial reporting, and give your opinion as to which party should have the greater burden. Defend your position.
  4. Analyze the sanctions available under SOX, and recommend the key action(s) that the PCAOB should take in order to hold management or the audit firm accountable for the accounting irregularities. Provide a rationale for your response.
  5. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Emerging Accounting Issues custom essay

For this assignment, go to the “Description and Status of Current Issues” page of the Financial Accounting Standards Board’s (FASB) Emerging Issues Task Force (EITF) Website, located at http://www.fasb.org/jsp/FASB/Page/SectionPage&cid=1218220137528. Select a current issue that interests you, and identify it for the assignment.

Write a six to eight (6-8) page paper in which you:

Research the most important impact that the mission of the Emerging Issues Task Force (EITF) exerts upon the Financial Accounting Standards Board (FASB). Analyze the EITF’s effectiveness with finding resolutions to emerging accounting issues, and make at least two (2) recommendations as to how they could improve their effectiveness. Justify your recommendations.

Research the issue you selected from the EITF’s “Description and Status of Current Issues” page, and analyze at least two (2) key areas being addressed by the EITF.

Analyze the primary manner in which a company’s accounting and financial reporting is likely to be impacted by the work being done by the EITF on the chosen issue, and make at least two (2) recommendations as to the manner in which the EITF could improve a company’s accounting and financial reporting.

Create an argument either in favor or against the EITF recommendation(s) on the issue that you have selected. Provide support for your argument.

Analyze the different accounting treatments between GAAP and IFRS for the issue that you have selected, and make at least two (2) recommendations that would have a positive impact on the differences between treatments.

Predict the roles that the EITF and FASB would play, should the accounting profession adopt one (1) global set of accounting standards.

Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Variance Analysis custom essay

 

Several tools are available to managers when evaluating organizational performance. Variance analysis is one such tool used to evaluate performance. Variance analysis compares actual costs with standard costs. The results from a variance analysis are important for helping managers control costs as well as identify areas were organizational performance and efficiency can be improved.

To prepare for this Discussion: Shared Practice, review the Learning Resources for this week and reflect on how actual costs, standard costs, and variance analysis will contribute to your current or future role as a manager or in decision making. Consider the role of variances when engaged in decision making and how variance analysis might help contribute to improved organizational efficiency.

Zimmerman, J. L. (2014). Accounting for decision making and control (8th ed.). New York, NY: McGraw-Hill.

 

  • Describe a scenario in which there are both highly favorable and highly unfavorable variances. Be sure to include the actual and standard costs in your scenario.
  • Analyze how and why you, as a manager, would prioritize the variances for analysis and how knowing these variances might help you improve efficiency.

managerial and financial accounting custom essay

Assignment: Managerial accounting emphasizes short-term profit analysis, so the income statement is very important. Consequently, we’ll examine and discuss income statements in this first case. The assignment for this module is divided into two parts:
Part I
Use the background material and Internet to answer the questions below.
Discuss and analyze the difference between managerial and financial accounting. Pay particular attention to:
• How is managerial accounting different from financial accounting?
• Comment on the different needs and use of financial information for internal purposes.
• The managerial accounting profession and its role in today’s business environment. How has it changed over time?
• Comment on the Certified Management Accountant (CMA) designation. How is it different from the CPA certification?
Part II
• Explain the main differences between the absorption and contribution (behavioral, variable) income statements. Will net income always be the same under the two approaches? If not, explain the difference.
• Comment specifically on why companies feel the need to create yet another income statement in a different format. What information can the company gleam from this approach which is helpful as a tool in the decision making process.
• Explain situations in which break-even analysis can be a useful tool. Explain the break-even formula and provide a specific example using numbers for a product with which you are familiar. Reasonable estimates are adequate. Don’t forget to include the source of the information.

It is important to answer the questions as posed. The discussion should be three to five pages and written in a clear and concise manner. Support your discussion with references in APA format. You are encouraged to use Excel or other compatible spreadsheet when computations are involved.
References to use:
Agrawal, N. K. (2010). Principles of Management Accounting, Global Media (read chapters 1, 5, and 6), from library.
Martin, J.R. (n.d.) Management Accounting: Concepts, Techniques, and Controversial Issues – Chapter 1: Introduction. Management And Accounting Web Home Page. Retrieved fromhttps://maaw.info/Chapter1.htm
Madegowda, J. (2007). Management Accounting, Global Media (read chapters 1 and 8), from library.
Introduction to Managerial Accounting (2007, July 25) [Video File]. Retrieved fromhttps://www.youtube.com/watch?v=pBCRmjnwWgo
Read one of the following:
Walther, L.M. (2011). Principles of Accounting: A Complete Online Text, chapter 23 (the section titled Variable costing versus absorption costing) and chapter 18. Retrieved fromhttps://www.principlesofaccounting.com/
or
Hermanson, R.H., Edwards, J.D., & Invacevich, S.D. (2011). Accounting Principles: A Business Perspective. First Global Text Edition, Volume 2 Managerial Accounting, 73-87.https://textbookequity.com/oct/Textbooks/TBQ_PA_Accounting_managerial.pdf
Accounting for Management (n.d.). Managerial or Management or Cost Accounting Terms and Definitions. Retrieved fromhttps://www.accountingformanagement.com/managerial_accounting_defintions.html

Cash Flow Statement custom essay

1. Click here to access the Cash Flow Statement for XYZ Company. After studying the information in the Cash Flow Statement, please answer the following questions: Did XYZ Company manage its cash flows better in 2012 than it did in the previous year? Explain and justify your answer using knowledge and materials gained from the reading materials presented in this phase.
2. Suggest at tleast two areas where the company might be able to improve its cash flow activities in the upcoming year. Be specific in your recommendations and explain their potential impact (positive and/or negative) on the company.
3. Is the Cash Flow Statement by itself a sufficient source when trying to forecast cash requirements for the following period (month, quarter, year, etc.)? If not, identify other financial statements that may be needed and explain why.
4. The CEO of XYZ Company tells you that the Chief Financial Officer has forecast operating income to increase by 1% in 2013. The Board of Directors would like to increase the total 2013 dividend payments by 10% over the total Dividends Paid in 2012. Except for the 2013 Cash and Cash Equivalents, Beginning of Year amount of $2k (and any changes in dividend payments the Board of Directors might make), all other figures in the Cash Flow Statement are expected to remain the same. After the negative cash flow outcome (-$10k) for the period ending Decemeber 31, 2011, the CEO and the Board want to maintain a positive year-end annual cash position of at least $10,000 going forward.
Prepare a new Cash Flow Statement for XYZ Company, ending on December 31, 2013. Can the Board authorize a 10% increase in dividends paid in 2013 and still meet the targeted year-end cash position for the company? If not, what is the largest percentage increase (in whole numbers) that will meet this target? Please justify your answer with calculations taken from your completed worksheet.

Interest Rate Determination custom essay

You are a financial analyst for the CMC Corporation. This corporation predicts changes in the economy, such as interest rates, retail trends, and unemployment. Your job is to educate incoming analyst on the terminology, definitions, and uses of interest rate theories, yield curves, and predictions. In your next training session, you will cover major theories that have been developed to explain resulting yield curves and the term structure of interest rates. Prepare a training guide with the following:

 

  1. Define and compare the following theories: expectations theory, liquidity theory, market segmentation theory, and preferred habitat hypothesis theory.
  2. In 2–3 pages, explain how each of the above theories explain changes in the economy.
  3. Provide examples for each, and be sure to use and properly cite scholarly sources.

Calculating Variances and Analyzing the Results custom essay

While many organizational costs can be planned for, the actual results may vary from the initial projections. Assessing how these variances impact the bottom line is an essential task of many managers.

For this Assignment, review the Learning Resources for this week and consider how they might apply to the scenario presented. Consider how variance analysis and the results obtained from conducting such an analysis might impact decision making.