Competency

Evaluate accounting-related legal and ethical business implications.

Scenario

During your weekly meeting, the Director of Accounting has shared with you the topics discussed at a recent Association of Certified Fraud Examiners (ACFE) meeting. Of particular interest was the agenda item about how some companies have gotten in regulatory trouble with the SEC over their revenue and expense recognition practices. While you both are confident that there are no issues relating to this at your company, you both decided that you wanted to learn more about these cases.

The Director of Accounting wants you to research two such cases and write a summary report to present at the next Accounting Department meeting. The director believes that understanding what has happened to other companies in this area of accounting can help prevent issues in your company.

The Director provides you with the SEC website that they have used in the past to do article searches: www.sec.gov

Instructions

You are asked to select two recent SEC actions against companies (not individuals) that relate to revenue and expense recognition and Prepare a Word document that:

1. summarizes reasons for the SEC actions.
2. identifies the SEC issues related to accounting data and/or operations and the remedial actions assigned and/or penalties given to the company.
3. critiques the remedial actions/penalties.
4. Gives an opinion as to whether you believe they will be effective in preventing future violations by the company.

Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code “Newclient” for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.

The post ethical and legal implications appeared first on Essay Writers.

Problem 5-46
Overhead Application and Job-Order Costing

Heurion Company is a job-order costing firm that uses a plantwide overhead rate based on direct labor hours. Estimated information for the year is as follows:

Heurion worked on five jobs in July. Data are as follows:

By July 31, Jobs 741 and 743 were completed and sold. The remaining jobs were in process.

1.  Calculate the plantwide overhead rate for Heurion Company. Round your answer to the nearest cent.
$  [removed] per DLH

Hide     2.  Prepare job-order cost sheets for each job showing all costs through July 31. Round your answers to the nearest dollar, if rounding is required. If an amount box does not require an entry, leave it blank or enter zero (“0”).  Heurion Company   Job-Order Cost Sheets       Job 741     Job 742     Job 743     Job 744     Job 745    Balance, July 1    $ [removed]    $ [removed]    $ [removed]    $ [removed]    $ [removed]    Direct materials     [removed]     [removed]     [removed]     [removed]     [removed]    Direct labor     [removed]     [removed]     [removed]     [removed]     [removed]    Applied overhead     [removed]     [removed]     [removed]     [removed]     [removed]    Total cost    $ [removed]    $ [removed]    $ [removed]    $ [removed]    $ [removed]

3.  Calculate the balance in Work in Process on July 31.
$  [removed]

4.  Calculate Cost of Goods Sold for July.
$  [removed]

“Looking for a Similar Assignment? Order now and Get 10% Discount! Use Code “Newclient”

The post ACCOUNTING HW 5-46 appeared first on Psychology Homework.