Consider yourself the financial controller of Alpha. The managing director, who is not an accountant, has recently attended a seminar and has raised the following questions for you concerning issues discussed at the seminar: The notes to the financial statements say that plant and equipment is held under the ‘cost model’. However, property which is owner occupied is revalued annually to fair value. Changes in fair value are sometimes reported in profit or loss but usually in ‘other comprehensive income’. Please explain how all these treatments comply with relevant reporting standards. The manager director also added “I wonder how the revaluation model can affect the information relevancy and reliability”.

Assume that you are an independent consultant working for Billy plc, a medium-sized construction company primarily engaged in building new residential premises on derelict land in and around towns and cities across England and Wales. Billy plc has always tried to act in a way which minimises the environmental impact of its activities and is conscious of its obligations to local residents who may be adversely affected by its activities. For example, all site work is carried out during weekdays and the company maximises the use of recycled and eco-friendly materials in its construction work.   The directors have become increasingly aware of the importance of their social and environmental responsibilities and they are also aware that Billy plc compares favourably with other companies in the industry. They are interested in how the good reputation of the company can be turned to commercial advantage but they are unsure how to best communicate their activities. They have requested that you…

Ibrahim is member of ICAP working as a unit accountant. He is a member of a bonus scheme under which, staff receive a bonus of 10% of their and liability figures. Ali has explained this to Bashir. Bashir responded that Ali should ignore this information as the company need to maintain a certain ratio between the assets and liabilities in the statement of financial position. Required: What are the ethical implications for Ali in this case?

Assume you are the management accountant for the Foleo Group. James and Leon have called you and the CFO into a meeting to discuss concerns they have with the number of SliFones that are being returned by customers under warranty. They have pulled some numbers from the accounting system and elsewhere regarding not only the warranty costs, but also other expenses associated with the quality of the phones for the current year. The directors have handed you the below costs and asked you to look into why faulty SliFones are being returned by customers. \table[[Quality Activity,\table[[Cost of Quality],[Activity]]],[Testing phones during production processes,$25,000

You have just finished presenting a summary of this year's financial results to the board of directors.  Included in your presentation was an income statement including both basic and diluted EPS figures.  One of the board members comments that they understand basic EPS but has no clue what diluted EPS is.  The board member actually wondered aloud whether this diluted EPS computation was part of some "full-employment for accountants" project.  How would you further explain the concept of dilution and what diluted EPS is trying to measure to the uncertain board member?

The Ministry of Magic, the regulator of businesses, is concerned about the public financial reporting that was produced by Eeylops Owl Emporium Ltd. The Ministry was aware that the emporium had not indicated that it was discontinuing a division of its business and that for the last financial year it had not included an acquisition of a new building in its balance sheet, which it had purchased some three months before the end of the financial year. Explain why the regulator is concerned with such oversights and what the emporium is required to do in each case.

Review the scripture below.  Does God's word here have relevance to the concepts being studied in Managerial Accounting, or do spiritual and business concepts just not mix?  Please share your ideas and give examples.  Feel free to cite other sources. Luke 14:28-30 in the Bible reads:  “But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it? Otherwise, you might complete only the foundation before running out of money, and then everyone would laugh at you. They would say, ‘There’s the person who started that building and couldn’t afford to finish it!’" Explain the meaning of (a) differential revenue, (b) differential cost, and (c) differential income. A company is offered incremental business at a special price that exceeds the variable cost. What other issues must the company consider in deciding whether to accept the business? Although the cost-plus approach to product…

Jimmy Bunting, the practitioner at Yanzhou Coal Mining and Minerals, performed the following tasks: he used analytical procedures and he had discussions with management. These activities were a basis for a conclusion on the financial information. What did Jimmy Bunting perform? a qualified report an unmodified opinion a review engagement O a compilation engagement

Not Graded(Please explain in A.B.C etc Format)Please give realistic, answers so I can understand.Thank You!Porter Corporation has just hired Bill Harlow as its new controller. Although Harlow has had little formal accounting training, he professes to be highly experienced having learned accounting "the hard way" in the field. At the end of his first months work, Harlow prepared the following performance report: Porter CorporationPeformance reportFor the moth June, 2018   Total Actual Cost Total Budgeted Costs Variances         Direct Materials 216,630 237,600 20,970 (F) Direct Labor 119,340 132,000 12,660 (F) Variable Overhead 63,000 66,000 3,000(F) Fixed Overhead 184,00 184,00     582,970 619,000 36,630 (F) In the presentation at Porters month end management meeting, Harlow indicated that things were going "fantastically." the figure indicate, he said, "that the firm is beating its budget in all cost categories. " This good news made everyone at the meeting happy and…

The annual reports of public corporations normally include a section on Management Discussion and Analysis (MD&A). Please examine the MD&A section of your selected company and let us know about any comments included regarding management's assessment of the company's liquidity and the availability of capital to the company. Also, please select one of the profitability ratios and calculate or find it for your company. Please let us know what this profitability ratio indicates about the financial health of your company.