Flexible Budgets, Standard Costs, and Capital Budgeting

A consultant commented that “too often the numbers look good but feel bad”. This comment often stems from an estimation error common to capital budgeting proposals that relate to future cash flows. Three reasons for this error often exist. First, reliability in predicting cash flows several years into the future is very difficult. Second, the present value of cash flows many years into the future (say, beyond 10 years) is often very small. Third, it is difficult for personal biases and expectations not to unduly influence present value computations. Discuss why these three areas are important to identify for estimation errors when you are considering an investment project.

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The Role of Project Management in Achieving Project Success

Write a 2 page summary on the following article: https://notendur.hi.is/vio1/The_role_of_project_management_in_achieving_project_success.pdf

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King Arthur

Compare/contrast essay -Double spaced – No special format/ just regular essay -1/2 page summary -1/2 page intro -How does it relate to the legend? (written by lawmen, malory, wace, and Geoffrey) -What is the focus? Themes (events) – Moral? -society it represents ? – Characters attitude’s -How does it differ or is the same as original religious symbols? – conclusion: does it belong in the legend or does it disrespect the legend?

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Business

The role of accounting in the US economy.

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marketing

write a marketing strategy for a new hookah lounge

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Flexible Budgets, Standard Costs, and Capital Budgeting

A consultant commented that “too often the numbers look good but feel bad”. This comment often stems from an estimation error common to capital budgeting proposals that relate to future cash flows. Three reasons for this error often exist. First, reliability in predicting cash flows several years into the future is very difficult. Second, the present value of cash flows many years into the future (say, beyond 10 years) is often very small. Third, it is difficult for personal biases and expectations not to unduly influence present value computations. Discuss why these three areas are important to identify for estimation errors when you are considering an investment project.

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Cost-Volume-Profit Analysis and the Master Budget

Labor costs of an auto mechanic are seldom based on actual hours worked. (Many of us realize this when we have serviced our automobiles). Instead, the amount paid a mechanic is based on an industry average of time estimated to complete a repair job. The repair shop bills the customer for the industry average amount of time at the repair center’s billable cost per hour. This means a customer can pay, for example, $120 for two hours if work on the car when the actual time was only one hour. Many experienced mechanics can complete repair job faster than the industry average. The average data are compiled by engineering studies and surveys conducted in the auto repair business. Assume that you, as the auto shop’s accountant, are asked to complete such a survey for a repair center. The survey calls for objective input, and many questions require detailed cost data and analysis. The mechanics and owners know you have the survey and encourage you to complete it in a way that increases the average billable hours for repair work. For this discussion, describe the direct labor analysis you would undertake to complete this survey and why you would take that particular approach to gathering data.

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Process Costing and Cost Allocation

Many accounting and accounting-related professionals are skilled in financial analysis, but most are not skilled in manufacturing. This is especially the case for process manufacturing environments (for example, a bottling plant or a chemical factory). To provide professional accounting and financial services, one must understand the industry, its product, and its processes. As accountants, we have an ethical responsibility to develop this understanding before offering services to clients in these areas. Discuss how you would obtain an understanding of key business processes of a company that hires you to provide financial services. How is this different from completing an audit?

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