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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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Why is it helpful to include milestones when setting personal performance goals. a) Including milestones allow one to explore ma

tino4ka555 [31]

Answer:

c) Including milestones allows one to use several short-term achieveable tasks to achieve one long-term goal.

Explanation:

In this regard, we can relate the inclusion of milestones when defining personal performance goals to SMART goals, which is a method used to better target which actions will lead to the achievement of your goals and objectives.

SMART goals include milestones that allow you to use a variety of short-term, achievable tasks to achieve a long-term goal.

The acronym SMART stands for: Specific, Measurable, Achievable, Relevant and Time-based.

Which implies that the goals must be specific, they must be planned as clearly as possible. Measurable because they must be measured and monitored to analyze the performance of the tasks required to reach the goal. It must also be attainable, which means that the goal must be planned only if there are real possibilities to be achieved. Relevant to achieving motivation and ultimately time-based, as every goal must have a deadline for reaching it.

3 0

3 years ago

Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are budgeted at $280,

mario62 [17]

Answer and Explanation:

a. The preparation of Schedule of Expected Cash Collections for November and December is shown below:-

Schedule of Expected Cash Collections

for the month of November and December

Particulars November December

Accounts receivable $63,000

Sales $280,000 $290,000

Expected cash collection

in the month of sale 60%

collection $168,000 $112,000

($280,000 × 60%) ($280,000 × 40%)

Next month 40%

cash collection $174,000

($290,000 × 60%)

Total cash collection $231,000 $286,000

b. The Preparation of Merchandise Purchases Budget for November and December is shown below:-

Particulars November December January

Cost of goods sold a

(80% of sale) $224,000 $232,000 $216,000

($280,000 × 80%) ($290,000 × 80%) ($270,000 × 80%)

Add: Ending

inventory b $92,800 $86,400

($232,000 × 40%) ($216,000 × 40%)

Total inventory $316,800 $318,400

(c = a + b)

Less: Opening inventory d $89,600 $92,800

($224,000 × 40%)

Material to be

purchased $227,200 $225,600

(e = c - d)

5 0

3 years ago

After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger

Delicious77 [7]

Answer:

April 30

Dr Fees earned 356,500

Cr Income summary356,500

April 30

Dr Income summary 363,600

Cr Wages expense 283,100

Cr Rent expense 56,000

Cr Supplies expense 11,500

Cr Miscellaneous expense 13,000

April 30

Dr Felix Goodwin, capital 7,100

Cr Income summary 7,100

April 3.0

Dr Felix Goodwin, capital 10,500

Cr Felix Goodwin, drawing 10,500

Explanation:

Preparation of the journal entry for the two entries required to close the accounts.

April 30

Dr Fees earned 356,500

Cr Income summary356,500

April 30

Dr Income summary 363,600

(283,100+56,000+11,500+13,000)

Cr Wages expense 283,100

Cr Rent expense 56,000

Cr Supplies expense 11,500

Cr Miscellaneous expense 13,000

April 30

Dr Felix Goodwin, capital 7,100

Cr Income summary 7,100

(363,600-356,500)

April 3.0

Dr Felix Goodwin, capital 10,500

Cr Felix Goodwin, drawing 10,500

5 0

3 years ago

Krisp Systems decides to move production to a developing country where they are free to pump pollutants into the atmosphere with

Delvig [45]

Answer:

Environmental hazards and underdevelopment

Explanation:

Aware of existing policies to curb the careless release of pollutant to the atmosphere, relocating to developing country's amounts to refusal to pay taxes, cutting corners in order to make more profits and reduction in additional cost to operations. But most importantly, the company is not a promoter of the eradication of environmental hazards.

4 0

3 years ago

Does unemployment affect demand?<br>

Ivahew [28]

Yes it does. Unemployment is when a person isn't currently hired at a work pleace. If people are unemployed they are making no income so less people are in need of products so it lowers the demand.

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3 years ago