After reading the article “Ernst & Young's Liability for Lehman Larger Than Claimed,” discuss Ernst & Young’s “going-on” liability after their 2007 arbitrary cutoff of responsibility from Lehman Brothers financial statements (10-Ks). Present evidence that the consolidated financial position of Lehman Brothers was not in conformity with US generally accepted accounting principles by discussing the material misstatements due to fraudulent financial reporting or misappropriation of assets. Explain how consolidation reporting issues affected the construction of Lehman Brothers consolidated financial statements.
How do finance and accounting play a role in ethics and sustainable positive social change?
How might you use accounting or finance to support this role that you described above?
1 1/2 page
Include Reference
Write a 700- to 1,050-word summary of your team's discussion regarding IFRS versus. GAAP. The summary should be structured in a subject-by-subject format. Include an introduction and a conclusion. Your discussion should include the answers to the following:
- IFRS 2-1: In what ways does the format of a statement of financial or position under IFRS often differ from a balance sheet presented under GAAP?
- IFRS 2-2: Do the IFRS and GAAP conceptual frameworks differ in terms of the objective of financial reporting? Explain.
- IFRS 2-3: What terms commonly used under IFRS are synonymous with common stock and balance sheet?
- IFRS 3-1: Describe some of the issues the SEC must consider in deciding whether the United States should adopt IFRS.
- IFRS 4-1: Compare and contrast the rules regarding revenue recognition under IFRS versus GAAP.
- IFRS 4-2: Under IFRS, do the definitions of revenues and expenses i
Turnitin will be used in this assignment, so needs to be 100% original.
Assignment 2: Tax Issues Associated with Financial Planning
Understanding the tax consequences of your financial planning decisions is very important. These decisions may sometimes have life-long consequences in addition to a one-time result.
For example, when a person decides to save for retirement, there are tax consequences for each year when money is added to the account as well as when it grows. There are additional consequences later when that person decides to retire and use the money to live on.
This assignment looks at another example of tax issues associated with financial planning. You will look at the use of tax-exempt investment instruments such as municipal bonds, as an alternative to traditional investments, and corporate bonds or stocks.
Consider the
Project 4
You will be graded on the accuracy of your answer and usage of cell referencing in the DATA area.
Covers material in chapter 9.
This project covers material in chapter 9 and I have extensive budget demonstrations in the chapter 9 course documents folder.
I have a template set up on the solution worksheet that you should use to complete the required budgets that are stated on the solution worksheet tab along with a what if question and article questions.
You need to use cell references in the development of your budgets. You must use this worksheet to reference the data that is being inputted onto the budgets on the solution worksheet.
The budget director for Bird House Unlimited, Inc., has gathered the following data for use in developing the budgeted income statement for November 20XX.
Estimated sales for November
Bird House 28.600 units at $33 per unit
Bird Feeder 24.000 units at
Sandy Alomar Corp., Prepare two schedules for inventory costs under LIFO and FIFO
You are vice-president of finance of Sandy Alomar Corp., a retail company that prepared 2 different schedules of gross margin for the first quarter ended March 31, 2007. These schedules appear below:
Sales ($5 per unit) cost of goods sold gross margin
Schedule 1 $150,000 124,900 25,100
Schedule 2 150,000 129,400 20,600
The computation of cost of goods sold in each schedule is based on the following data.
Units Cost per unit Total cost
Beg. Inventory, Jan 1 10,000 $4.00 $40,000
Purchase, Jan 10 8,000 4.20 �
Essex Biochemical Co has a $1000 par value bond outstanding that pays 10% annual interest. The current yield to maturity on such bonds in the market is 7%. Compute the price of bonds for these maturity dates: A. 30 yrs B. 15 yrs. C. 1 year.
Imagine you are the Head of State for a country and must prepare a presentation regarding the cultural significance of the country. The country is about the size and geography of Texas and it has a border with the ocean and another with a country of the same size and geography. Your presentation must include the following information:
- What cultural tools might you use to maintain the historical traditions of your country? Please give two specific examples.
- Provide two positive examples of cross-cultural influences to the people of your country. Why would they be considered positive?
- Provide two negative examples of cross-cultural influences to the people of your country. Why would they be considered negative?
- What have real countries done to deliberately influence interaction with outside cultures that your country might incorporate? Provide two examples
Use the Speaker Notes area of PowerPoint for your narrative textual inf
