The company I chose to analyze is WorldCom. This company based in Mississippi had recognized that for several years it has been bloating or increasing their earnings through booking about $3.8 billion expenses as long-term investments rather than operating costs. They did that by posting operating expenses such as salaries and wages as long-term investments on the balance sheet while those costs should have been expensed and posted to the income statement. When they did that, they overstated assets while extremely understating expenses. This led to an overstatement of net income; the company then devalued such costs which led cash flows, profit margins and net income to be affectedly inflated. Given the fact that those are the key measures used to value the company’s stock, the company’s stock was highly overpriced.…
The total fixed cost is subtracting the variable from low time period: $20,500 - $13,755.00 = $6,745…
a) Joan’s first mistake is not using control of cash receipts. She is having only one person go through the whole accounting controls process. There should be other people involved in this process including Joan herself. Joan must also realize the limitations of human controls. One person going through the entire process is bound to make a human error.…
As you can see in the Linden percentage columns they are significantly less profitable than the Industry. With the EBIT we can see that Linden is less profitable than the industry standard. Linden has a very good interest rate, because its borrowing less, in the end that could hurt them in terms of leveraging the return on equity. Look for excessive executive salaries and bonuses, lavish travel and entertainment expenses, money spent on acquiring other companies, and any other expenditures that aren’t strictly necessary to run the business.…
Display "This program will break down the weight of an item from pounds to ounces, and will then give you the price per ounce for the product listed."…
Explain some of the graphical user interfaces (GUIs) and communications messages that occur during the operation of a microwave…
I obtained a bachelors degree in Criminal Justice from Norwich University in 2011. Through the U.S Army I received training to certify as a member of a Company Intelligence Support Team (CoIST). With this certification I led my Company's CoIST team as an additional duty while serving as a Company Fire Support Officer in the 82nd Airborne Division. During my deployment to Iraq, I served as a Plans Advisor in the Combined Joint Operations Center in Baghdad, in which I had daily interactions with Iraqi General Officers in order to advise and assist in operational planning to support Operation Inherent Resolve. Due to the fact I was able to communicate with clearly and confidently I was awarded the Joint Service Commendation…
Networking in an operating system also known as NOS (network operating system) operates in many ways. NOS is an operating system which runs on a server and can be accessed through client machines connected on the network. It controls and permits sharing of files by multiple users, printer admittance among the linked computers, enhance support, make a working network, and provides for certain administrative functions, including security.…
For the user support employee, a customer service model begins and ends with communication. Communications not only involves speech or writing, but listening or reading well also. Communications is a two-way exercise, which involves both parties and their need to reach a satisfactory resolution. The various forms of communications between a user support employee and a customer determines the experience of a customer with user support as well as, adding or detracting to the opinion the customer has of the company. The first of these communications is the tone and style of the support employee. Each support employee should strive to create his or her own personal style of communication. This style should include everything from a greeting to a strategy for resolving customer complaints (Beisse, 2010). The technician should use clear, succinct speech or writing to convey the necessary information to resolve the customer’s issue (Beisse, 2010). A technician’s style should include the ability to categorize a customer to meet that customer’s needs and expectations. Support technicians should be able to restate a customer’s problem in the technician’s own words to show empathy and understanding of the customer problem. This is how the relationship of an ‘extremely satisfied’ customer is started and created. This should be the goal of all employees in a company with any type of communications (Beisse, 2010).…
I want to write about an event happened to me during the middle of last semester.…
References: Bagranoff, N., Simkin, M., & Strand, C. (2008). Core Concepts of Accounting. (10th ed). New York: Wiley & Sons…
The term "accounting principles" in the auditor's report includes not only accounting principles but also practices and the methods of applying them. Though the term quite naturally emphasizes the primary or fundamental character of some principles, it includes general rules adopted or professed as guides to action in practice. The term does not connote, however, rules from which there can be no deviation. In some cases, the question is which of several partially relevant principles has determining applicability. Neither is the term "accounting principles" necessarily synonymous with accounting theory. Accounting theory is the broad area of inquiry devoted to the definition of objectives to be served by accounting, the development and elaboration of relevant concepts, the promotion of…
An accountant needs to understand what revenue, revenue recognition principle, an expense, and matching principles are (Godwin, Alderman, 2010). Revenue is increasing recourses from the sale of goods or provision of services (Godwin, Alderman, 2010). The revenue recognition principle means revenue should be recorded when it is earned (Godwin, Alderman, 2010). An Expense is when…
Accounting research is needed to attain a more general theory of accounting, and in this regard the various theories of accounting that have been posited must be subjected to verification.…
A conceptual framework establishes the concepts that underlie financial reporting. A conceptual framework is a coherent system of concepts that flow from an objective. The objective identifies the purpose of financial reporting. The other concepts provide guidance on (1) identifying the boundaries of financial reporting; (2) selecting the trans-actions, other events, and circumstances to be represented; (3) how they should be recognized and measured; and (4) how they should be summarized and reported.…