FIN-320 2-2 Milestone One

Analyse the issue(s)/problem(s) faced by SSB by referring to the MFRS 137 Provisions, Contingent Liabilities and Contingent Assets (CTPS Question –Problem analysis)

Required information [The following information applies to the questions displayed below.] Cranshaw Business Services (CBS) operates an information technology (IT) consulting firm out of two offices: Detroit and Los Angeles. Corporate services, such as legal, finance, and personnel, are centralized at the main office and the costs of these services are allocated to the two offices for the purposes of profitability assessment. The Detroit office is the original unit of the company and is well established, having long-time clients from the automotive and other manufacturing industries. The Los Angeles office is new with a smaller, much more varied, clientele. The costs of personnel services at CBS are currently allocated on the basis of the number of employees in each office. The annual costs of the personnel department total $510,000. Data for the fiscal year just ended show the following: Number of employees Number of new hires. Number of employees departing Allocation based on…

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Question: The articles below is my classmate discussion post can you please give explanation why you agree with the articles below? According to the SEC 10-K, Procter & Gamble organizes its business into five strategic business units (SBUs) and five reportable segments as per U.S. GAAP. These segments cover Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The SBUS oversee global brand strategies, product innovations, and supply chain management, with direct profit responsibility for key markets termed "Focus Markets." They also drive growth in other markets, referred to as "Enterprise Markets." The MD&A discusses business performance by region, including North America, Europe, Greater China, Latin America, Asia Pacific, and India, Middle East, and Africa (IMEA), offering insights into geographical revenue contributions and market dynamics. Their largest customer is Walmart Inc. and its affiliates, which accounted for consolidated net sales of…

CASE STUDY: INTRODUCING KBC DECORATING CO. Henri Martin and Wes Corbett have decided to go into business together and have chosen the name KBC Decorating Co. Their business will have two main divisions: a retail department to sell paint, wallpaper, and related interior decorating supplies; and a service department to do painting and decorating of office buildings, apartment blocks, and private homes. Martin and Corbett were previously in this same type of work but operated separate businesses. KBC Decorating Co. is located in Paris, Ontario, about an hour from Toronto. Martin and Corbett found a suitable location from which to operate their business, renting half of a warehouse building owned by Frank Bailes. Their space includes an office, retail space, and warehouse space. Your job is to keep the books for KBC Decorating Co. for the first calendar year (January to December). As you progress through these chapters, you will learn and do. Each chapter will introduce new concepts that…

CASE STUDY: INTRODUCING KBC DECORATING CO. Henri Martin and Wes Corbett have decided to go into business together and have chosen the name KBC Decorating Co. Their business will have two main divisions: a retail department to sell paint, wallpaper, and related interior decorating supplies; and a service department to do painting and decorating of office buildings, apartment blocks, and private homes. Martin and Corbett were previously in this same type of work but operated separate businesses.   KBC Decorating Co. is located in Paris, Ontario, about an hour from Toronto. Martin and Corbett found a suitable location from which to operate their business, renting half of a warehouse building owned by Frank Bailes. Their space includes an office, retail space, and warehouse space.   Your job is to keep the books for KBC Decorating Co. for the first calendar year (January to December). As you progress through these chapters, you will learn and do. Each chapter will introduce new concepts…

Sonos, Incorporated designs, develops, manufactures, and sells multi-room audio products. The Sonos sound system provides customers with an immersive listening experience created by the design of its speakers and components, a proprietary software platform, and the ability to stream content from a variety of sources over the customer's wireless network or over Bluetooth. In an earlier year, it reported the following on its income statement (dollars in millions). Net sales Costs and expenses Cost of sales Research and development Selling, general, and administrative Operating income (loss) Interest and other incone (expenses), net Loss before provision for income taxes Provision for income taxes Net loss The company's beginning and ending assets were $762 and $816, respectively. Transaction a b. $ 1,326 Required: Listed here are hypothetical additional transactions. Assuming that they also occurred during the fiscal year, complete the following tabulation, indicating the sign of the…

I need answer Accounting question

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Required information [The following information applies to the questions displayed below] Nation's Capital Fitness, Inc., operates a chain of fitness centers in the Washington, D.C., area. The firm's controller is accumulating data to be used in preparing its annual profit plan for the coming year. The cost behavior pattern of the firm's equipment maintenance costs must be determined. The accounting staff has suggested the use of the high-low method to develop an equation, in the form of Y=a+bX, for maintenance costs. Data regarding the maintenance hours and costs for last year are as follows: Month January February March April May June July August September October November December Total Average "Rounded Hours of Maintenance Service 530 470 260 470 360 450 330 450 470 380 360 360 4,890 408- Maintenance Costs $ 5,068 4,220 2,800 4,330 2,970 4,140 3,100 3,510 4,010 3,200 3,250 3,040 $43,638 $ 3,637 Required: 1. Using the high-low method of cost estimation, estimate the behavior of the…

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Outsourcing Call Centers; Strategy; Ethics; Present-Value Analysis (Chapter 12) Merchants’Bank (MB) is a large regional bank operating in 634 locations in the southeastern United States.Until 2014, the bank operated a call center for customer inquiries out of a single location in Atlanta,Georgia. MB understood the importance of the call center for overall customer satisfaction andmade sure that the center was managed effectively. However, in early 2013, it became clear that thecost of running the center was increasing very rapidly, along with the firm’s growth, and that someissues were arising about the quality of the service. To improve the quality and dramatically reducethe cost of the service, MB moved its call center to Bangalore, India, to be run by an experiencedoutsourcing firm, Naftel, which offers similar services to other banks like MB.The Naftel contract was for 5 years, and in late 2017 it was time to consider whether to renewthe contract, change to another call center…

E22-11 UrLink Company is a newly formed company specializing in high-speed Internet Prepare and discuss a service for home and business. The owner, Lenny Kirkland, had divided the company into responsibility report. two segments: Home Internet Service and Business Internet Service. Each segment is run by its own supervisor, while basic selling and administrative services are shared by both segments. Lenny has asked you to help him create a performance reporting system that will allow him to measure each segment's performance in terms of its profitability. To that end, the following information has been collected on the Home Internet Service segment for the first quarter of 2017. (LO 2, 3), AP 04 22 Budgetary Control and Responsibility Accounting Budget $25,000 Actual Service revenue Allocated portion of: Building depreciation Advertising Billing Property taxes Material and supplies Supervisory salaries Insurance Wages Gas and oil $26,200 11,000 5,000 3,500 1,200 1,600 9,000 4,000 3,000…

Provide this question solution general accounting

Q4. Uniroyal Technology Corporation (UTC), with corporate offices in Sarasota, Florida, is organized into three operating segments. The high-performance plastics segment is responsible for research, development, and manufacture of a wide variety of products, including orthopedic braces, graffiti-resistant seats for buses and airplanes, and a static-resistant plastic used in the central processing units of microcomputers. The coated fabrics segment manufactures products such as automobile seating, door and instrument panels, and specialty items such as waterproof seats for personal watercraft and stain-resistant, easy-cleaning upholstery fabrics. The foams and adhesives segment develops and manufactures products used in commercial roofing applications.The following items relate to operations in a recent year. Serious pressure was placed on profitability by sharply increasing raw material prices. Some raw materials increased in price 50% during the past year. Cost containment programs…

! Required information [The following information applies to the questions displayed below.] Cranshaw Business Services (CBS) operates an information technology (IT) consulting firm out of two offices: Detroit and Los Angeles. Corporate services, such as legal, finance, and personnel, are centralized at the main office and the costs of these services are allocated to the two offices for the purposes of profitability assessment. The Detroit office is the original unit of the company and is well established, having long-time clients from the automotive and other manufacturing industries. The Los Angeles office is new with a smaller, much more varied, clientele. The costs of personnel services at CBS are currently allocated on the basis of the number of employees in each office. The annual costs of the personnel department total $440,000. Data for the fiscal year just ended show the following: Number of employees Number of new hires Number of employees departing a. Using current…

! Required Information [The following Information applies to the questions displayed below.] Cranshaw Business Services (CBS) operates an Information technology (IT) consulting firm out of two offices: Detroit and Los Angeles. Corporate services, such as legal, finance, and personnel, are centralized at the main office and the costs of these services are allocated to the two offices for the purposes of profitability assessment. The Detroit office is the original unit of the company and is well established, having long-time clients from the automotive and other manufacturing Industries. The Los Angeles office is new with a smaller, much more varied, clientele. The costs of personnel services at CBS are currently allocated on the basis of the number of employees in each office. The annual costs of the personnel department total $350,000. Data for the fiscal year just ended show the following: Number of employees Number of new hires Number of employees departing Detroit 380 Los Angeles…

Allocate the corporate costs to each region and calculate the income of each region after assigning corporate costs.