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ACCT2112 Management Accounting

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Task:

Required:  

1.The company’s original budget approach that contributed to the failure to achieve the CEO’s sales and profit targets. 

2.Whether the departments should be expected to cut their costs when sales volume falls below budget.

3.The new budget approach recommended by the consultant.  

Ms Thompson and Mr Treble behaviour under the new budget approach, and the potential impact of their behaviour.  

You are required to provide all the supporting schedules that are needed to compile the budgeted balance sheet for the three month period ending June 30 as follows: 

1.A sales budget, by month and in total  

2.A schedule of expected cash collections from sales, by month and in total 

3.A merchandise purchases budget in units and in dollars. Show the budget by month and in total.  

4.A schedule of expected cash disbursements for merchandise purchases, by month and in total 

5.A cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cash balance of $60 000.   

6.A budgeted income statement for the three-month period ending 30 June. Use the contribution approach.

7. A budgeted balance sheet as at June 30. 

ACCT2112 Management Accounting

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Financial Reporting

Background: Mr. Dewey , the Senior Partner of the CPA firm Dewey, Cheatem & Howe, is very concerned about an article that read – “Accounting Theory: Missing in Action? ” by Luskey, et al., 2007. Mr. Dewey is worried that if there is little or no theory behind accounting, ...

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MAA103 Accounting for Decision Making

Question: Question 1 (6 marks)Ink Spill, a printing company, provides printing services to its customers. Customers normally pay for printing services in advance. In October 2020, Ink Spill received $20,000 from customers for services to be provided in November 2020. A senior accountant at Ink Sp ...

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MPA509 – Contemporary Accounting Theory: Research & Practice: NOTES WK 01 BY DR. Chris Wright page 1 of 13 1.0 A SUMMARY OF THE HISTORY OF ACCOUNTING -- History teaches us: That which is, ...

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Task: This task requires you to prepare a report to evaluate information provided in the annual report of a chosen company listed on the Australian Stock Exchange (ASX). The annual report will have to cover from year 2019 to 2021, therefore you will need the annual report for 2019 and 2021 as 202 ...

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