What is the best reason for homebuyers to create a budget before taking out a mortgage?

Explain why a finance manager need to understand accounting information even if the firm has a trained accountant on its staff.

nekit [7.7K]

Answer:

Following are the solution to the given question:

Explanation:

A financial manager should understand adequate information on accountancy. This is irrespective of whether the business does have a trained counterpart.

Accountancy is a necessary input into the function of financial management. Throughout the extent, as accounts were important input in financial decision-making is closely connected with both the interaction between finance and financial.

Accrual analysis provides information mostly on the company's operations. The result of the accountancy is accounts like the income statement, the income statement, and the position financial adjustments report. The information in such statements helps money advisors assess a company's previous growth and career projections.

The purpose of accountancy in the choice process is to gather and provide financial data on the institution's past, present, and future activities.

During the economic transaction, the finance department uses these data. This is not possible for money advisors to collect data or to make choices from accounts. And an investor's primary focus is to collect data and display it, whereas budgeting, control, and judgment are the main job of a financial manager. In a sense, financial management starts at the end of accountancy.

7 0

3 years ago

A _______ can illustrate your achievements that are difficult to display in a cover letter or resume.

alexira [117]

Answer: portfolio

Explanation:

7 0

3 years ago

Horten Sporting Goods Corporation makes two types of racquets, tennis and badminton. The company uses the same facility to make

Aneli [31]

Answer:

Horten Sporting Goods Corporation

TR BR

a. Cost per unit $66.98 $62.08

b. Price of Badminton Racquets = $80.70

Explanation:

a) Data and Calculations:

Tennis Badminton

Racquets Racquets

Units produced 70,000 30,000

Direct costs:

Direct materials $17.10 per unit $14.80 per unit

Direct labor 33.50 per unit 23.10 per unit

Category Estimated Cost Driver Amount of Cost Driver

Cost TR BR Total

Unit level $736,000 Number of inspection hrs 15,900 7,100 23,000

Batch level 353,800 Number of setups 83 39 122

Product level 152,500 Number of TV commercials 4 1 5

Facility level 630,000 Number of machine hrs 30,600 39,400 70,000

Total $1,872,300

Overhead Rates:

Inspection = $32 ($736,000/23,000) per inspection hour

Equipment setup = $2,900 (353,800/122) per equipment setup

TV commercials = $30,500 ($152,500/5) per commercial

Depreciation = $9 ($630,000/70,000) per machine hour

Overhead Allocation:

TR BR Total

Inspection = $32 $508,800 $227,200 $736,000

($32*15,900) ($32*7,100)

Equipment setup = $2,900 240,700 113,100 353,800

($2,900*83) ($2,900*39)

TV commercials = $30,500 122,000 30,500 152,500

($30,500 *4) ($30,500 *1)

Depreciation = $9 275,400 354,600 630,000

($9 * 30,600) ($9 * 39,400)

Total allocated expenses $1,146,900 $725,400 $1,872,300

Units produced 70,000 30,000

Overhead cost per unit $16.384 $24.18

Cost per unit:

TR BR

Direct materials $17.10 $14.80

Direct labor 33.50 23.10

Overhead cost 16.38 24.18

Total cost per unit $66.98 $62.08

Cost of Badminton = $62.08

30% markup = 18.62

Price = $80.70

7 0

3 years ago

One possible reason as to why consumers respond to sales is that by displaying a "high" regular price and a "low" sale price, sa

Olenka [21]

Answer:

True

Explanation:

Experiments regarding consumer behavior have shown that consumers usually expect a product to have a certain price that serves as a reference price that they use to determine if a retailer's price is high (more expensive than the reference price) or low (cheaper than the reference price).

It is normal (but unethical) that some retailers increase their prices a little before starting a sales campaign, since a higher reference price will make consumers believe that the offer is even better.

8 0

3 years ago

Read the following email, which Jim sent to his team. Then choose the answer below that best explains what is wrong with the ema

mars1129 [50]

Answer and Explanation:

The subject of the email is too long and contains all the information. The subject should have been: Proposal draft due on Friday. Rest of the information should have been included in the body of the email.

8 0

2 years ago