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2 months ago

Where does the management accounting function fit into an organization's structure?

1 answer:

6 0

Management accounting involves the assessment and analysis of both financial and non-financial data pertinent to a business. This function is crucial for the Controller’s role within an organization, as the Controller reports directly to the CFO. The resulting report provides essential information that aids in formulating strategic decisions to meet the organization’s objectives.

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On July 1, 1990, John invested $300 in an account that earned 8% simple interest. On July 1, 1993 he closed this account and dep

marusya05 [3725]

Response:

The interest rate is 5.7% $21.204

Clarification:

The formula for calculating simple interest is

I =

$\frac{P*R*T}{100}$

Given that

I = Interest, T = time;;R is rate; P = principal

John earned this interest by July 1, 1993 as follows:

I = $\frac{300*1* 8}{100}$ = 72

Consequently, the total amount in John's account by July 1, 1993 would then be

= $300 + $72= $372

This indicates he utilized these funds at an interest rate of q.

On July 1, 1998, John’s total was $520, meaning the interest accumulated in these five years equals $520 - $372 = $148.

Using the simple interest formula: Interest = PRT/100

148 =

$\frac{520*5*q }{100}$ = 14,800 =2600q

q = $\frac{14,800}{2,600}$

Thus, the rate is found to be 5.7%

The interest amount between July 1, 1993, and July 1, 1994 calculates as

I = $\frac{PRT}{100} = \frac{372*5.7*1}{100}$

= $21.204

7 0

1 month ago

Metro Company trades its used machine for a new model at Denver Solutions Inc.

Free_Kalibri [3773]

Answer:

Cost of the new machine:

= Price of new machine - Trade allowance + Market value of old machine

= $16,000 - $9,000 + $6,000

= $13,000

Consequently, the journal entry would be recorded as follows:

New Machine Cost A/c Dr. $13,000

Accumulated Depreciation (Book Value) A/c Dr. $4,000

Loss from machine exchange A/c Dr. $2,000

To Old Machine (Book Value) $12,000

To Cash (16,000 - 9,000) $7,000

(To document the equipment exchange)

4 0

1 month ago

A manager can faithfully execute the decision making process but still end up with nothing of value if _________________________

stepan [3596]

A) he is unable to identify the proper problem

B) he neglects to assign numerical values to various criteria

C) he resolves the issue ineffectively

D) he does not correctly identify the procedure steps

Response:

A. He fails to identify the proper problem.

Clarification:

In option B, assigning numerical values to decision criteria could assist in the decision-making process, yet it's not essential for achieving a successful outcome.

Regarding option C, solving a problem ineffectively is not optimal, but it does hold some value.

As for option D, recognizing the procedure's steps doesn't significantly impact the success of the process.

This directs us to option A as the correct response; addressing a problem is futile if it's the incorrect one. Resolving an erroneous problem yields no benefit for the organization.

8 0

1 month ago

What other aspects of Ecuadorian culture, other than its predominant religion and language, might affect that country’s culture?

Nady [3600]

Answer:

Contemporary Afro-Ecuadorians are well-known for their marimba music along with various music and dance festivals. Before the Spanish conquest of Ecuador and even prior to the emergence of the Incan empire, the area's indigenous cultures displayed vibrant musical traditions. Music was vital to the lives of ancient Andean societies, and archaeologists have uncovered several ancient instruments such as drums, flutes, trumpets, and other musical relics in old burial sites.

Additionally, the Dress Code

And the cuisine!!

Explanation:

3 0

2 months ago