Accounting

Q1 General Electric (GE) is the biggest company by assets and capitalisation worldwide.  It has interests in the finance, construction and media and is at the forefront of innovation. .  It continually shapes the world with ground breaking innovations.  GE is a giant with operations in over 100 countries and a work force in excess of 320,000 people (GE 2010). In an effort to maintain its market leadership while at the same time ensuring growth in all its different aspects, GE employs...

Use of benchmarks to demonstrate accountability for the use of taxpayers dollars The government sources for funds from the citizens through taxation. As a result, most of the revenue and capital expenditure by the government originates from taxes. As a result, it is imperative for the government to channel the funds to the most viable products through setting goals for achievement of development goals from use of taxes. Through laying down policies that foster accountability and conflict resolution,...

A report that outlines the key differences in the point of views of the boards and determines whose view is sounder Introduction Revenue recognition is the most critical of the accounting issues since the policy related to revenue recognition can turn the financial results upside down and it is the greatest tool used by companies engaging in earnings management. Due to the risky nature of revenues, its accounting needs to be tougher. However, it is not the case there is a great deal of inconsistences...

The tax system in United Kingdom is considered to be very complex. The sources income in UK is mainly composed of the amount of taxes that is been collected from the public. Both the residents and domicile are equally liable to pay tax based on their world wide income and gains they have. For the individual resident the foreign income and gains will be taxed historically on the basis of the gain and income remittance. Total UK government receipts are forecast to be 545.5 billion in 200809, or 37.3...

Maltbee Lawn Service Income StatementFor the Month Ended May 31, 2009 Sales                  4,250.00 ExpensesSalaries Expense 2,100.00 Supplies Expense    350.00 Rent Expense    100.00 Amortization - Leasehold Improvements      50.00 Depreciation Exp. - Eqpt. Trailer    100.00                   2,700.00 NET INCOME              ...

Activity based costing approach to designing a cost system tries to accumulate the total overhead costs for every singly activity being carried on in an organization, and then attempts in assigning the costs of these identified activities to the services or products caused by those activities. It is a system of managerial accounting that attempts to determine the costs of the activities in an organization, without distortion. It provides a method of looking at the costs by providing methods for...

Under these conditions, how much should you offer OHenry Give your reason. This paper needs to compute the possible price to offer to OHenry which should not exceed 20 times the monthly net income of OHenry while the lowest possible price that OHenry will take is the computed ending capital  of  the latter.    As computed, the monthly net income after making the necessary adjustment for the unadjusted monthly balance is  16,050.00 .  Multiplying the amount with 20...

1. Envisaged Monthly Income Statement Service Revenue (14,300  2,100) 16,400 Less Operating expenses Salary Expense 3,400 Utilities Expense 900 Adjusting Expenses 2,750 Manager Remuneration 3,000 10,050 Expected Net Income 6,350 Maximum Purchase Price (6,350 x 20) 127,000 2. Income Statement for November 2009 Service Revenue 16,400 Less Operating expenses Salary Expense 3,400 Utilities Expense 900 Adjusting Expenses 2,750 7,050 Net Income 9,350 Statement...

This article takes into view denominational agencies which are tax-exempt that publish religious books which lead to substantial profit. The question that the article carefully articulates is whether the denomination should use these earnings to further its religious purposes or it should be held liable to pay the federal unrelated business income tax for these earnings. In my opinion, whether the earned income is above or below 1000 dollars, related or unrelated to the religious purpose, it should...

Balfour Beatty and Vinci are both globally leading construction companies with their net worth in billions of dollars. This paper is a detailed analysis of both the companies. Balfour Beatty Company profile It is a top UK construction company which was founded in 1909 by George Balfour and Andrew Beatty. The company is listed on the London Stock Exchange and has an impressive global workforce of an estimated 30,000 employees. Although, the company initially started out as a construction concern...

1. How could Guillermo use budgets and performance reports in his decision make process In my point of view, Guillermo uses the technique of flexible budget (Horngren et al., 2008, chapter 01, p. 05). This technique helps Guillermo in order to provide different scenarios like changes in unit sales, changes in variable cost (due to the Direct Material, Direct Labor and FOH) (Horngren et al., 2008, chapter 5, p. 7). Moreover, Guillermo also keeps a watchful eye on the macro factors like competitors...

Management accounting This is an internal management tool that is used to identify, measure, accumulate, analyze, prepare, interpret and communicate information required by the managers for planning, evaluating and controlling the resources within an organization. Management accounting ensures appropriate use of resources and accountability of the management in their duties. According to Chartered Institute of Management (CIMA), management accounting enables non-managerial groups within the organization...