4 Accounting Discussion Questions – coursefighter.com
Business Finance – coursefighter.com
I need 1 to 2 paragraphs containing detailed answers to each of the following discussion questions. Please do not forget to include references on each discussion with your answers.
Your employer gave you an option between a defined contribution pension plan and a defined benefit pension plan. Recall what each plan offers and choose the plan that works best for you. Support your response with facts about each plan. Also, consider the accounting method your employer uses to report these expenditures. How does this method compare to an Endowment fund? Identify any similarities and differences between pension plan reporting and endowment fund reporting.
Either pension plan you choose is only beneficial for you if your employer is transparent. Contributions made by the employer need to be relayed to the employee. Ongoing revisions and projections are a necessity to ensure planning is adequate for future needs. European countries are constantly focusing on transparency to provide high quality financial information. Organizations like the World Bank and the International Federation of Accountants (IFAC) require reporting very similar to the United States to require organizational transparency. However, Arab countries appear to be behind the wave with transparency or does it only appear this way? Evaluate the transparency in Arab countries to see what the similarities and differences are with the United States.
Different activities can indicate signs of strength, weakness, or a neutral effect on the financial condition of a company. Analyze activities that indicate strong and weak financial conditions. Conclude how five of the following activities affect the financial condition of a company and provide support for your conclusions:
- Revenues over expenditures
- Intergovernmental revenues
- Level of business activity
- Education level of citizens
- Unemployment rate
- Restrictions on revenues
- Personal income per capita
- Debt service
- Percentage of households below the poverty level
- Short-term borrowing
- Property values
- Population growth
- Political party of the mayor
- Unfunded pension liability
- Operating deficit.
Pyramid Printing Company’s Controller, Sally Sound, has been approached by the company’s President, Mike Maryland, to optimize green sustainability initiatives and work with the production staff to maximize recycling income. After conferring with the production and warehouse staff, Sally noted that the company’s paper roll cores are never fully used due to the timing of the web gluing process. Sally Sound then assessed an opportunity for Pyramid’s paper roll cores to be sold as a byproduct; the rolls would be stripped and converted into packaging inserts for a major online retailer.
- What are the characteristics of a byproduct?
- Which methods are used to account for byproducts?
- Rationalize which of these possible methods might be best to employ for this scenario.
Pyramid Printing Company is a printer of magazines and retail inserts. Sally Sound, the company’s Controller, initiated an inquiry regarding what has surfaced as a large material variance for the month of April 2017. After inquiring of the production department, it was discovered that many copies of an insert for a major retailer’s holiday promotion were out of register and discarded. Sally then noted that these were not properly recorded as spoilage to deflect attention from quality issues.
What are the ramifications of reporting the quality-impaired product as a material variance rather than spoilage? Discuss the accuracy of the expenses recorded for the period, as well as any relevant ethical issues.