Posted: November 10th, 2015

Class Questions

Class Questions

Q1

How would you explain CVP analysis to a second grader? Why is this analysis so

important?

Q2

Hello everyone, let’s work on an example so that we can discuss further!…..Let’s

say a company produces a single product with a sale price of $50 per unit. The

variable costs per unit is $30 and the company incurs fixed costs of $75,000 per

month. What is the breakeven point in dollars and in units for this company? AND,

for each unit sold over breakeven in this example, by how many $$’s does the

company’s NOI increases? Anyone? 🙂

Q3

Hello everyone! Let’s also discuss the main differences between the variable

costing income statement and the absorption costing income statement! Are “all”

product costs inventoriable regardless of the income statement format used? Anyone?

Q4

Hello everyone! Let’s describe, in detail, one of the steps in job order

costing…. Why is this step important? Let’s try and cover all the steps! Who

wants to get us started?

Q5

Hello everyone! What are the differences between actual costing and normal costing?

🙂 An example, anyone?

Q6

Hello everyone, for practice, let’s prepare the journal entries related to a job-

order costing system…using the example in the lecture, what would be the journal

entries for the given transactions? (This is for the Heath Corp. example)…anyone?

AIS

Q1

With respect to fraud against companies, which do you think is more prevalent:

inside or outside jobs? Explain your position. Describe what you think is the

number one target of an inside job versus that of an outside job- I work in the A/R

dept.

Q2

Class: Many factors affect customers’ electronic transactions experience, including

an AIS. How does an AIS affect customer experience? Can customers perpetrate fraud

against a company?

Q3

Class: Doing business on the Internet may be unsafe. However, customers and

companies have their part to play as far as ensuring the security of eCommerce is

concerned.

What is the role of the AIS in ensuring the security of ecommerce?

Q4

Segregation of duties (SoD) and other classic internal controls, such as management

oversight, have been adapted to consider technology. Compare/contrast the classic

controls with their adaptations for technology. Have one or more of the classic

controls become obsolete when applied in technology? On the flip side of that,

describe any new controls that have become necessary because of technology.

Q5

Class: When security is compromised a company faces potential financial and non-

financial losses. What are some of these losses? Please give examples.

Q6

Class: Microsoft Access is a database management system. You may learn about MS

Access basics on your own: creating tables and running queries. How useful is a

database management system to an accountant? Are there securities issues that are

of concern to accountants?

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