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2 years ago

G To what extent do managers need to have experience in accounting and with financial statements?

Business

1 answer:

mojhsa [17]2 years ago

6 0

Answer:

The question seems to have missing parts which I could not find on the internet, however I have tried to answer the part available as below :

To a greater extent, managers need to have experience in accounting and with financial statements to understand their Decision Implications on Profit and to communicate with the Public and Stakeholders well.

Explanation:

Experience with Accounting and with Financial Statements are very important in that understanding these, Managers would be well aware of their Decision Implications on the bottom line - Profit. The performance of every manager can be traced back to items that where within their control and these are shown in financial statements. The financial statement is also a vital document when the Company is communicating to the Public or to other Stakeholders and as such Managers need to be aware of. Some Managers are Sole Traders who need to have experience with accounting and with financial statements among other skills.

However, Mangers are not expected to be good at everything and they may be hired for one specialty such as strategy or marketing. In that case more time must be devoted to leave up to their role and leave the details of Accounting and Financial Statements to those hired for that specialty.

In conclusion it is to a greater extent, managers need to have experience in accounting and with financial statements to understand their Decision Implications on Profit and to communicate with the Public and Stakeholders well.

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The percentages in the table represent the performance change from the previous month. Consider the impact of each metric on cus

Stolb23 [73]

Based on the metrics given, we can say that shipping errors were <u>not very impactful </u>on customer questions.

<h3>Relationships between metrics</h3>

Customer questions kept rising by 2% from the first month till the third month.
Shipping errors (shipped incorrectly) rose by 2% from the first to the second month and then stayed constant.

What we then realize is that even though questions kept rising, shipping errors only rose once which means that shipping errors did not account for much of customer questions. If it did, the customer questions would have stayed constant as well.

In conclusion, shipping errors were not very impactful.

Find out more on performance metrics at brainly.com/question/4295533.

5 0

2 years ago

Cushenberry Corporation had the following transactions.1. Sold land (cost $11,360) for $14,200.2. Issued common stock at par for

miss Akunina [59]

Explanation:

The journal entries are shown below:

1. Cash A/c Dr $14,200

To Gain on land A/c $2,840

To Land $11,360

(Being the land is sold)

2. Cash A/c Dr $18,900

To Common stock A/c $18,900

(Being the common stock is issued for cash)

3. Depreciation Expense A/c Dr $15,730

To Accumulated Depreciation - Buildings A/c $15,730

(Being depreciation expense is recorded)

4. Salaries expense A/c Dr $8,080

To Cash A/c $8,080

(Being the salaries expense is paid for cash)

5. Equipment A/c Dr $8,420

To Common stock A/c $1,170

To Additional paid-in capital in excess of par value A/c $7,250

(Being the equipment is purchased)

6. Cash A/c Dr $1,236

Accumulated depreciation - Equipment A/c Dr $7,210

Loss on sale of equipment A/c Dr $1,854

To Equipment A/c $10,300

(Being the equipment is sold)

7 0

3 years ago

Bluestone Company had three intangible assets at the end of the current year:

adoni [48]

Answer and Explanation:

The computation is shown below:

1) Calculation of the acquisition cost is

Patent = $4,000

Trademark = $210,000 + $8,500 = $218,500

Licensing Rights = $80,000

2) Computation the amortization expense is

Patent = $4,000 ÷ 10 = $400

Trademark = $218,500 ÷ 10 = $21,850

Here we assume the indefinite life of 10 years

Licensing Rights = $80,000 ÷ 5 = $16,000

Income statement:

Amortization expense $38,250 ($400 + $21,850 + $16,000)

Balance sheet at year end december:

Fixed assets

Intangibles

Patent $3600 ($4,000 - $400)

Trademark $196,650 ($218,500 - $21,850)

Licensing Rights $64,000 ($80,000 - $64,000)

8 0

2 years ago

You have recently graduated from college with an MBA. Upon graduation, you start working for Roosevelt Power Plant. The boss, Mr

kvv77 [185]

Explanation:

Honesty in the workplace:

Honesty can give good reputation
Will stay focused on the work and the environment
Will keep commitments and thus increase productivity
It will increase the sense of responsibility to achieve success at higher rates
Increases mutual respect and thus gives good collaboration

Positive work environment:

Employee feel safe
Ability to achieve one's best
Gains greater energy to contribute
Provides an happy environment
Yields positive result from both individual and team work

These these factors will help Mr. Jones to understand that fraud will be prevented and detected.

3 0

3 years ago

At January 1, 2018, Transit Developments owed First City Bank Group $600,000, under an 11% note with three years remaining to ma

VashaNatasha [74]

Answer:

interest payable 66,000

note payable 384,000

Land 325,000

Gain on disposal 125,000

Explanation:

600,000 x 11% = 66,000 interest payable

the land is being used to settle the note along with the accrued interest at the time:

the accounting of Transit developments record the land at cost: 325,000

as the market valuye is 450,000 so a gain for 125,000 will be recognize.

450,000 market value - 66,000 interest payable: 384,000 payment on the note principal

the entry will write-off the interest payable, decrease the note by that amount and recognize the land gain on disposal

4 0

3 years ago