Discuss the importance and process of financial forecasting. Provide examples of both revenue and expense forecasting methods.

Every business competes for additional revenue and increased market share.  With few exceptions, most of the products and services they offer are undifferentiated and are easily replaced with other substitutes from rival competitors.  This commoditization puts businesses at a disadvantage and many resort to competing on price rather than quality or other distinguishing features/benefits. 

Identify, research & define the stats - discuss at least one specific market segment that a well-known brand targets (cite at least one supporting reference)Identify and discuss - an example of consumer (B2C) or industrial (B2B) products/services that have become commoditized (cite at least one supporting reference)Other than becoming the lowest cost provider, how can a business offering a commoditized product differentiate their offering? (cite at least one supporting reference)

This week, you must cite the sources of your research so you need to

include a minimum of 2 cited references (in total) in your entries.

classifications correct? In either case- yes or no, please giving reasons for the same.
Revenue Expenditure:
a. Rent for new factory site
b. Customs Duty for importing new machinery for the factory
c. Repairing charges for old machinery
d. Transport facility charges for office staff
e. Installation charge of new machinery in old factory
Capital Expenditure:
f. Penalty charges for breaking traffic signal to deliver company products to customer
g. Replacing condenser of the cooling equipment for the office
h. Upgrading the office computer
i. AMC contract of new machinery
j. Licence cost of new ERP Software

Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below.

Average hourly billing rates are auditing $83, tax $94, and consulting $102.

Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.

You have a revenue data set of a Metro Area, where a node represents an office, the value associated with every node is the annual revenue of this office. The data set includes 2000 offices in that Metro Area. Now, I would like to partition the Philadelphia Metro Area to 10 business sub-areas. Each of these 10 business sub-areas has one or more offices. The total anual revenue from each sub-area should equal or almost equals to others. How to partition these 10 business sub-areas?

-its like a Routing algorithm problem (for example- 8 queens problem). We have to distribute these nodes, such way,on average all sub-area get same revenue, and nearby nodes are in same sub area, but one sub-area can have, 100 nodes, other one can have 300 nodes, that does not matter.

Suppose Stuart Company has the following revenue and expenses for 2017: Revenues of $8,800,000 Cost of Goods Sold of $2,640,000 Depreciation Expenses of $900,000 Income Taxes of $1,508,000 Interest Expenses of $110,000 Other Expenses of $500,000 Sales, General, & Administrative Expenses of $880,000 Create an income statement with amounts in thousands What is the value of Earnings Before Interest & Taxes? Please specify your answer in the same units as the income statement.

Taxes: The Internal Revenue Service reports that the mean federal income tax paid in the year 2010 was $8040.
Assume that the standard deviation is $490. The IRS plans to draw a sample of 1000 tax returns to study the
effect of a new tax law.

Part 1 of 5
(a) What is the probability that the sample mean tax is less than $8200? Round the answer to at least four decimal places.
The probability that the sample mean tax is less than $8200 is?

Part 2 of 5
(b) What is the probability that the sample mean tax is between $7500 and $8100? Round the answer to at least four decimal places.

The probability that the sample mean tax is between $7500 and $8100 is?

Part 3 of 5
(c) Find the 60th percentile of the sample mean. Round the answer to at least two decimal places.
The 60th percentile of the sample mean is?

Part 4 of 5
(d) Would it be unusual if the sample mean were less than $7800? Round answer to at least four decimal places.
It (is/isnt) unusual because the probability of the sample mean being less than $7800 is?

Part 5 of 5
(e) Do you think it would be unusual for an individual to pay a tax of less than $7800? Explain. Assume the variable
is normally distributed. Round the answer to at least four decimal places.
(yes/no), because the probability that an individual to pays a tax less than $7800 is?

Economics, Inc. has started its operation in late 2016. At the beginning it was generating revenue from sales commission and after it expanded its operation by providing management services. By the end of 2017 the company has hired you as independent consultant to help with comprising final balance sheet and income statement.

Required:

1. Provide ALL adjustments by the end of 2017.
2. Fill in the worksheet.
3. Prepare closing entries, income statement, statement of retained earnings, and balance sheet for 2017.

The following information has been presented to you by the end of the year:

1. On November 01, 2017 the company paid USD 600 insurance fee for 1 year. At that time the company debited Prepaid rent account.
2. The beginning balance of office tools on December 01, 2017 were equaled to USD 720. All purchases of office tools were debited on account Expenses on office tools. The ending balance of office tools by the end of year was USD 319.
3. In January 01, 2017 the company purchased a building. The company has accrued depreciation only for first months of USD 150. The non-accrued balance of depreciation for 2017 is USD 1,650.
4. On January 01, 2017 the company also purchased an equipment for USD 5,400. The depreciation also was not recognized for 11 months of USD 495.
5. On September 2017 the company has signed contract with client for 6 month period. The client has paid this amount on September 30, 2017.
6. On November 21 the company obtained a loan from local bank of USD 3,000. The term is 3 years and interest rate 36.5%. Interest is paid every three months and accrued on 365 –daily basis.
7. On December 20 the company hired a new accountant. She worked for 20 days at rate of USD 30 per day. The salary for December will be paid in January 5, 2018.
8. In December the company also hired a new employee. His salary is comprised form sales commissions. By the end of the year he did not sell anything.
9. On December 31 the company declared dividends of USD 900.

Distinguish the accounts receivable from the revenue cycle. What are the steps in managing accounts receivable? Explain each step.