Operating budgets

Describe the basic flow of the various operating budgets within the master budget for a manufacturing firm. This should include a discussion of which budget is prepared first, and how that budget is used to prepare the next budget(s). You do not need to go into detail...

ABC vs. Traditional Costing

ABC vs. Traditional Costing Explain when it might be more beneficial for a company to use an activity-based costing system vs. a traditional overhead allocation system. What are the pros and cons of using an ABC system? Describe a scenario in which a company that...

Cost-volume-profit analysis

Explain why cost-volume-profit analysis is important for a company. What does the company need to understand about its costs to be able to perform CVP analysis (i.e., which cost classification?)? How might a company that has converted from a highly manual process to...

Internal Controls over Cash

Internal Controls over Cash The following are deficiencies in internal controls over cash. 1. When the cashier isn’t available, Amy prepares both the deposit and opens the mail. 2. The mail clerk may not prepare a remittance advice for the A/R department if a...