Please divide the period into two subperiods: before and after the pandemic. This will set the ground to answer the next part.

Consider the following time series data: Compute MSE using the most recent value as the forecast for the next period. What is the forecast for month 8? Compute MSE using the average of all the data available as the forecast for the next period. What is the forecast for month 8? Which method appears to provide the better forecast?

In your opinion, is it important that an organization set standards and measure them monthly? Why or why not?

Solar Solutions began operations on January 1, 2015, and is now in its sixth year of operations. It is a retail sales company with a large amount of online sales. The adjusted trial balance as of December 31, 2020 appears below, along with prior year balance sheet data and some additional transaction data for 2020. SOLAR SOLUTIONS Adjusted Trial Balance 12/31/2020 2020 2019 Account Title Adjusted Trial Balance Post-Closing Trial Balance Debit Credit Debit Credit Cash $ 122,200 55,000 125,600 Accounts Receivable 35,000 Prepaid Insurance 5,000 6,000 |Inventory Office Equipment Machinery & Tools Accumulated Depreciation Accounts Payable Salaries Payable Sales Tax Payable Note Payable-Long Term Common Stock, $10 par 46,000 15,600 63,000 47,000 59,000 21,000 21,000 16,000 11,200 16,800 2,600 2,700 2,000 4,000 31,000 22,100 240,000 160,000 Retained Earnings 28,600 28,600 Dividends 10,000 Sales Revenue Cost of Goods Sold Rent Expense Salaries Expense 235,000 127,600 20,000 36,000 Insurance…

Which of the following options would most likely improve the timeliness of your company's financial statements?   Question 1 options:   decreasing the estimates of useful life of property, plant, and equipment.   changing the timing of when revenues are recognized.   changing from quarterly financial statements to monthly financial statements.   increasing the number of disclosures in the notes to the statement.     Fundamental qualitative characteristics include:   Question 2 options:   representational faithfulness and timeliness.   relevance and representational faithfulness.   materiality and verifiability.   relevance and comparability.

When converting to IFRS, a company must:(a) recast previously issued financial statements in accordance with IFRS.(b) use GAAP in the reporting period but subsequently use IFRS.(c) prepare at least three years of comparative statements.(d) use GAAP in the transition year but IFRS in the reporting year.

10) Icon International, a software company, incorporated on January 1, 2019 is planning to convert to IFRS. The company decided to present its first IFRS statements for the year ended December 31, 2021. What is the reporting date of Icon International? a) January 1, 2019 b) January 1, 2021 c) December 31, 2021 d) December 31, 2019

9) Icon International, a software company, incorporated on January 1, 2019 is planning to convert to IFRS. The company decided to present its first IFRS statements for the year ended December 31, 2021. What is the transition date of Icon International? a) January 1, 2019 b) January 1, 2021 c) December 31, 2021 d) December 31, 2019

Schultz Company prepares interim financial statements at the end of each quarter. The income statement presented at the end of the first quarter of 2019 is as follows: 1. Prepare a 10-column worksheet to develop the Schultz financial statements for the first 6 months of 2019. (Refer to Chapter 3 for a worksheet illustration, if necessary.)                                                                2. Prepare the income statement for (a)the first 6 months of 2019 and ( b) the second quarter of 2019.                                                                            3. Prepare a retained earnings statement for the first 6 months of 2019.        4. Prepare the June 30, 2019, balance sheet.

Edge Co., a toy manufacturer, is in the process of preparing its financial statements for the year ended December 31, Year 8. Edge expects to issue its Year 8 financial statements on March 1, Year 9. For each item, two responses are required. Select from the option lists provided the appropriate adjustment amount, if any, and whether additional disclosure is required, either on the face of or in the notes for each financial statement below. Each choice may be used once, more than once, or not at all. If no adjustment is necessary, select "No entry required" in the Adjusted amount column and continue to the Additional disclosure required column. Show Transcribed Text 5. On January 30, Year 9, Edge issued $10 million bonds at a premium of $500,000. 6. On February 4, Year 8, the IRS assessed Edge an additional $400,000 for the Year 4 tax year. Edge's tax attorneys and tax accountants have stated that it is likely that the IRS will agree to a $100,000 settlement. C !!!!