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Bernie Madoff case

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Q: What is a real world example of a managerial accounting suspected wrongdoing?
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In accounting terms both M and K mean thousand?

K is the shorthand form for thousands, for example £27k = £27,000 M is the shorthand form for millions, for example $84.2M = $84,200,000

What is a synonym for novice?

rookie, inexperienced or not having knowledge of something. for example: a lawyer studying accounting will surely be a novice at first but he later learns

What is the difference between bachelor of science and a bachelor of business degree in accounting?

The "science" tag in the various degree programs denotes that the degree holder took a specified "block" of basic science courses such as, for example, Chemistry, Botany, Zoology, Physics, Geology, Mathmatics, etc. One could obtain an Accounting degree with either the "Science" or "Business" tag. If the basic courses prescribed for a Science degree are taken in addition to the Accounting courses, then it would be tagged as a Science degree. On the other hand, if that prescribed block of basic Science courses is not taken, then the degree would be in Business.j3h.

Is difference between whole price and discount be considered as a loss in accounting?

No. You incur a loss when you sell something for less than its book value. So, for example, if land is on your books for $1,000 and you sell it for $600, you would incur a net loss.A net loss is the difference between revenues and expenses, when the result comes out negative. If a company has $3,000 in revenues and $3,500 in expenses, it would incur a $500 net loss.In accounting, sales discounts are deducted from sales price to compute the net sales

When does an accrued expense have to be paid?

An accrued expense is an accounting expense that is recognized in the books but has not yet been paid. It is usually a current expense. An accrued expense is paid when the due date for payment has reached, for example, wages are accounted for in the books before they are paid, but are usually paid either on a monthly or weekly basis depending on the policies of the company.

Related questions

What is an example of a sentence using the word aspersion?

An aspersion is an attack on the reputation. Don't cast aspersions when you might be suspected of wrongdoing yourself.

What managerial assessments can you make about a company that has a profit and a negative cash flow in the same accounting period?

There are many managerial assessments you could make about a company that has a profit and a negative cash flow in the same accounting period. You could say that there is an error or that temperature changed dramatically for example.

Example of accounting equation?

The accounting equation is as follows: Assets = Liabilities + Stockholder's Equity

What are accounting entities?

accounting entities are for example a business do not get these mixed up with legal enities

Managerial economics is an art or science.explain?

Both! The ideas and concepts behind managerial economics all have a scientific basis. Some managerial decisions made using managerial economics can employ scientific explanations. On the other hand, many managerial decisions made using the concepts of managerial economics are very subjective. One must, for example estimate the intentions of competitor firms. While some of this is scientific, some of it is luck and some of it is an art.

What is principal of accounting?

The most important of the accounting is to comply with generally accepted accounting principles and standards and norms that conducted by accounting organizations. Accounting must have qualities characteristics. With these characteristics, it will be useful to users. Example for characteristics: relevance, reliability and comparability

What is an example of an inventory accounting policy that should be disclosed in a summary of significant accounting policies is what?

Method used for inventory pricing.

Some example of internal users of accounting information?


Example of unadjusted trial balance in accounting?

accounts payable

What are some providers of online accounting classes?

There are many providers of online accounting classes. For example, the website provides online accounting classes and so does the website

Do they offer online classes in accounting?

There are plenty of university, community college, and vocational schools that offer accounting class online. I look at the University of Phoenix for accounting classes as an example.

Differentiate between operative and managerial functions of personnel management?

Managerial functions refer to taking care of employees and the day to day dealing with customers. Operational management refers to the behind-the-scenes operations of the business, such as ordering stock and filing paperwork.