Scenario: On a monthly basis prior to closing the books, the Accounting Manager performs a flux analysis
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Question:
Scenario: | |||||||||||||||||||||||||||||||||
On a monthly basis prior to closing the books, the Accounting Manager performs a flux analysis on the balance sheet and profit & loss statement (P&L). For any variance greater than $2.5k AND 10% from prior month the Accounting Manager analyzes to ensure the change is appropriate. In addition for accounts that do not change, the Accounting Manager is assessing if no change is appropriate. | |||||||||||||||||||||||||||||||||
Company Specifics: | |||||||||||||||||||||||||||||||||
In December 2020, the Company began offering overtime pay at twice their regular hourly rate to referral employees to clear out backlogs. | |||||||||||||||||||||||||||||||||
Documents provided: | |||||||||||||||||||||||||||||||||
November 2011 flux analysis snip - no flux comments provided purposely (yellow tab) | |||||||||||||||||||||||||||||||||
Trial balance of some accounts for the month ending 12/31/20 | |||||||||||||||||||||||||||||||||
Formatting Notes: | |||||||||||||||||||||||||||||||||
Dates are in mm-yyyy format in this workbook | |||||||||||||||||||||||||||||||||
Deliverables: | |||||||||||||||||||||||||||||||||
Create flux comments, applying the thresholds utilized by the Accounting Manager, for December 2020
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Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
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