All of these contribute to the biggest financial weakness of the Utah Symphony, which is its profitability. The symphony’s bottom line profit for 2000-2001 was only $116,308, which is less that 1% of its total revenues and the forecast for 2001-2002 paints an even bleaker picture with bottom line profit projected to be only $2,042. A leadership strength of Keith Lockhart is his in-depth
At this time, the external discount rate, used by Credit Swiss First Boston was 12%. What does this mean? If Ameritrade analysts use a discount rate that is too high, good projects may be rejected. If they use a discount rate that is too low, bad projects may be accepted. Lastly, they need to make sure that the future cash inflows due to this project outweigh its future cash outflows.
| | | | If a regular partnership goes bankrupt, each partner is exposed to liabilities only up to the amount of his or her investment in the business. | | Instructor Explanation: | Chapter 1 Explanation: Ch 1: d is correct, all others are incorrecta. False- Corporate formation is more complex and expensive, in general, than are partnershipsb. False- Corporations are regulated at state level and thus are more regulated than sole proprietorshipsc: False- sole proprietors are taxed once at owner leveld: true- the corporate form provides owners limited liabilitye: False- Under partnership law, each partner is liable for the business debts. | | | | Points Received: | 10 of 10 | | Comments: | | | | 2.
Consequently, mail should be opened by which of the following four company employees? (4) Receptionist b. A key internal control in the sales and collection cycle is the separation of duties between cash handling and record keeping. The objective most directly associated with this control is to verify that (4) existing cash receipts are recorded. c. Company personnel account for the sequence of shipping documents and verify that an entry for each shipment is included in the sales journal.
Also, with even higher liabilities, it may be difficult to meet the debt service agreements if the company doesn’t have enough cash flow from operations. 1(c) What potential income tax ramifications exist for Mr. Johnson personally if he purchases the stock of Smithon and converts it to an S corporation? If the Mr.Jones decides to convert Smithon to a subchapter S Corporation, it will enable the corporation itself to avoid paying taxes, but the profit and losses will be passed to shareholders as personal income and losses. Now we should consider the expected losses from the huge investment in equipment purchase. Net operating losses cannot be used to shelter personal income but can be carried forward by a C corporation to provide tax benefit in future when the business expects profit.
Personal Budget, Balance Sheet and Cash Flow Statement Brian T. Frauenknecht ACC/547 March 24, 2012 Marina Layvand Personal Budget, Balance Sheet and Cash Flow Statement There are many different factors that have an impact of the success financially for individuals and also a working company. Everything from an individual’s age, education, income, dependents and goals all have an impact on an individual’s personal finances. All of these are considered when we strive to develop an understanding of an individual’s financial status and to develop a personal budget for them. Careful planning and recording of personal or company finances is vitally important for developing good spending habits and enjoying financial success (Kapoor, Dlabay, & Hughes, 2009). We are preparing this memo for the couple Jason Blackburn and Veronica Fedoseeva.
Personal Budget, Balance Sheet, and Cash Flow Statement Memo Matthew Moshi ACC/547 July 22, 2013 Joseph Pizzillo MEMORANDUM TO: Fiala Logan, Client FROM: Matthew Moshi, CPA (KPMG Consultant and Tax Practitioner). DATE: July 22, 2013 SUBJECT: Review of the client’s personal balance sheet, cash flow statement, and budget CC: Susan Logan, Client’s Spouse Dear Fiala Logan, “The average person in the United States saves less than three cents of every dollar earned.”[1] Hence, it should come as no surprise that many households have inadequate funds for long-term financial security. This is a far from ideal scenario for single individuals, married couples, families, etc. The effective planning of household saving and spending decisions is essential insofar as providing a strong foundation that not only facilitates wise money management today but also future financial prosperity. [2] Saving is the primary path to achieving financial success.
Financial Statements ACC/280 Financial Statements Paper Accounting is an important part to any organization. It communicates the financial state of any organization. Accounting has three basic activities: identify, record, and communicate. There are four basic financial statements which are useful to managers, investors, creditors, and employees. These four basic financial statements are interrelated and consist of: income statement, retained earnings statement, balance sheet, and statement of cash flows.
Common stock usually entitles the owner aka, shareholders the right to vote and collect dividends. Preferred stockholders do not vote, however, they claim a higher yield on assets and earnings than the common shares. Bond: A financial instrument issued by corporations, federal and local governments issued for the purpose of raising capital; a debt security that promises repayment with interest. Capital; the simplistic definition is money. Capital is used to generate income, capital, or money is used to make investments that will generate more income.
Program ratio, also indicate that a larger proportion of total expenses are directed toward the related activities. Therefore higher program ratios indicate effective and efficient. The second most crucial metric in measuring the effectiveness of a non-profit organization is fundraising ratio, so a higher fund raising ration will explain that most costs are used by cost of fund raising activities. To alleviate concerns over the reporting standards of non-profit organizations, Congress appooitned the Government Accountability Office (GAO) to conduct a study of nonprofit reporting (United States GAO 2002). Some weaknesses found were that many organizations will fail to report any fund raising