Discuss similarities and differences between job order and process costing.

Watch the video below and write a three to four paragraphs summarizing the contents of the chapter and video. In your posts you want to discuss production process and how we account and record Direct Labor, Direct Materials and Overhead in Raw Materials, Work In Process, and Overhead Costs, make sure to discuss Debits and Credits in detail. Also discuss similarities and differences between job order and process costing. Don’t forget to discuss accounting for equivalent units.

Using accounting hypothesis, formulae and descriptive statistics to Identify the consequence of firs adoption on information comparability as well as real growth from 2002/2005 when IFRS is made mandatory.

Description

Using accounting hypothesis, formulae and descriptive statistics to Identify the consequence of firs adoption on information comparability as well as real growth from 2002/2005 when IFRS is made mandatory. comparative to when the rest of the world adopted IFRS, till current date when IFRS is in 176 countries in the world, why is it not in the rest and do these countries have good reporting stanadards compared to eu IFRS and American GAAP.

Identify the conflict or dilemma.

Congratulations, your company recently launched a new advertising campaign worth nearly a million dollars in a new foreign market. Orders are pouring in for your product which is extremely popular and in high demand. However, you have a problem. You just received notice that the Customs Office, while performing a routine inspection, discovered there is no evidence that your product has demonstrated compliance with the country’s recently enacted safety standards and your products will be held until evidence of compliance is provided.

Your engineering department reviewed the issue and believes the compliance data can be provided to Customs in a relatively short time, dependent on obtaining subcontractor data. To complicate matters, your biggest competitor, Abubaba, just released a copy-cat product into the market through Customs that resembles your product but is less expensive and made from inferior quality materials.
Prepare an analysis to discuss the following:
1) Identify the conflict or dilemma;
2) Identify the short and long term options you can reasonably take to resolve the problem in order of priority;
3) Identify the potential consequences of your actions to resolve the problem;
4) Identify domestic and foreign resources that may be helpful; and
5) What about Abubaba?

The role of transparency in markets and society;Discuss

The Journal of Accounting identified key areas of research in accounting:
• The role of transparency in markets and society;
Choose this area and give a summary of some of the current research themes (last 5 years). Finally, identify questions the researchers have identified as needing further exploration in these areas.

Explain the deficiencies in Patel’s report as drafted. There are at least 15 deficiencies.

Patel, CPA, has completed the audit of the financial statements of Bellamy Corporation as of and for the year ended December 31, 2019. Patel also audited and reported on the Bellamy financial statements for the prior year. Patel drafted the following report for 2019.

We have audited the balance sheet and statements of income and retained earnings of Bellamy Corporation as of December 31, 2019. We conducted our audit in accordance with generally accepted accounting standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of misstatement.

We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly the financial position of Bellamy Corporation as of December 31, 2019, and the results of its operations for the year then ended in conformity with generally accepted auditing standards, applied on a basis consistent with those of the preceding year.

Patel, CPA

(Signed)

Here are some other pertinent facts about the audit:

Bellamy is a private corporation and is presenting comparative financial statements.
Bellamy does not wish to present a statement of cash flows for either year.
During 2019, Bellamy changed its method of accounting for long-term construction contracts and properly reflected the effect of the change in the current year’s financial statements and restated the prior year’s statements. Patel is satisfied with Bellamy’s justification for making the change. The change is discussed in the footnotes to the financial statements.
Patel was unable to perform normal accounts receivable confirmation procedures, but alternative procedures were used to satisfy Patel as to the existence of the receivables.
Bellamy Corporation is the defendant in a litigation, the outcome of which is highly uncertain. If the case is settled in favor of the plaintiff, Bellamy will be required to pay a substantial amount of cash, which might require the sale of certain fixed assets. The litigation and the possible effects have been properly disclosed in the footnotes to the financial statements.
Bellamy issued bonds on January 31, 2018, in the amount of $10 million. The funds obtained from the issuance were used to finance the expansion of plant facilities. The bond agreement restricts the payment of future cash dividends to earnings after December 31, 2023. Bellamy declined to disclose this essential data in the footnotes to the financial statements.
Required:

Explain the deficiencies in Patel’s report as drafted. There are at least 15 deficiencies. Each student should identify only one deficiency in their original post and then respond to at least two other students posts sometime during the week. You can agree or disagree with other students but make sure you explain why you agree or disagree.

Based on the article by NSTP, entitled ‘Extensive study to revamp employee benefits amid Covid-19 effects’,

Relate what have been discussed in the articles with the issues of compensation and
benefits in Malaysia.

b. Based on the article by NSTP, entitled ‘Extensive study to revamp employee benefits amid
Covid-19 effects’, criticize;
i. How much should companies pay to motivate their employees after the pandemic
crisis?
ii. Assume that the company was financially affected by the pandemic crisis; to what
extent should the company provides benefits to their employees?

Were the study participants representative of the U.S. population in current salary, when the Current Population Survey shows a median weekly wage/salary for adult full-time workers of $671?

Mini project

Participants and Results

I. Background information and Directions:

Participants in a research study on jobs and wages were surveyed about their past and present salaries and their job experience. Your task is to analyze the data and report your findings using text, tables, and figures.

The SPSS data file miniproj_employee_data_f21.sav can be downloaded from the Blackboard.

Your response to this assignment should be in the form of a typewritten report in APA style. The text should be in a 12-point font such as Times New Roman or Calibri, double-spaced, with 1- inch margins. Figures and tables should be in APA format and placed at the end of your report, appropriately labeled, and printed clearly in black and white—no color. Figure and Table numbers should coincide with the references in your written narrative. Do not provide more tables and figures than required by the assignment; do NOT provide printouts of SPSS output. Please consult your textbook and the Publication Manual of the American Psychological Association, 7th edition, on reserve at the Hunter College Library, for format/style guidance.

For APA written style, see examples in textbook. Online resources: Purdue OWL site (https://owl.english.purdue.edu/owl/section/2/10/)
APA style (http://www.apastyle.org/learn/index.aspx)

II. Report to be submitted with the following two sections:

Paragraph 1: Participants

Use appropriate variables from the file “miniproj_employee_data_f21.sav” to describe the participants in the sample. Report the following sample characteristics: sample size, number and percent minority, gender breakdown, job categories, age, and years of schooling. Be sure that you choose appropriate statistics (frequency tables, means, medians, modes, range, quartiles, variances, and/or standard deviations) based on the type of data you are describing.

Write one paragraph describing the participant group. Explain your choice of statistics where appropriate; e.g., if you choose to report the median instead of, or in addition to, the mean, explain why. Construct and refer to a figure that represents the values of one selected categorical variable. Construct and refer to a table that shows the frequencies and percent frequencies of a second selected categorical variable.

Paragraph 2: Results

Descriptive: Use appropriate statistics to describe participants’ survey results on four variables: initial salaries, current salaries, months since hire, and months of previous experience. Choose appropriate statistics to describe the central tendency and the variability of the sample on these variables, explaining your choice of statistics as needed. Write one paragraph that reports your findings on all four variables. Construct and refer to a table that presents descriptive statistics for at least two variables. Construct and refer to a figure that represents an aspect of a variable’s distribution that is important and can be expressed well through the selected graphic.

Inferential:

Research question: Were the study participants representative of the U.S. population in current salary, when the Current Population Survey shows a median weekly wage/salary for adult full-time workers of $671? To answer this question, you should run inferential statistics. You should run a comparison using SPSS. Then, you can write up your answer to this research question as a separate paragraph or as part of Paragraph 2.

NOTE: For running SPSS, you can work in groups of 2-3 people. However, the write-up of the report and construction of figures and/or tables should be done individually do not cut and paste tables from SPSS printout in your report. You need to select pertinent information from the printout and construct appropriate tables, graphs, and/or charts, according to APA formatting guidelines.

Submit your report to: ppchen@hunter.cuny.edu