Managerial accounting is more than recording, maintaining, and reporting financial results, writing homework help

Jul 25th, 2016
FratBro23
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Price: $35 USD

Question description

Managerial accounting is more than recording, maintaining, and reporting financial results. Managerial accountants must provide managers with both financial and nonfinancial information including estimates, projections, and forecasts. An important estimate for Polaris is its reserve for warranty claims, and the company must provide shareholders information on these estimates.

1. Access and read Polaris' " Product warranties” section of the " Organization and Significant Account-ing Policies” footnote to its financial statements, from Appendix A. What is the warranty period for Polaris' products? How does management establish and adjust the warranty reserve? What are some of the effects if the company's actual results differ from its estimates?

2. What is the management accountant's role in determining those estimates?

3. What are some factors that could impact the warranty accrual in a given year?

4. Access Polaris' annual report for a fiscal year ending after December 31, 2011, from either its Website [ Polaris. com] or the SEC's EDGAR database [ www. sec. gov ]. Answer the questions in parts ( 1), ( 2), and ( 3) after reading the current " Organization and Significant Accounting Policies”. Identify any major changes.

*Please refer to the Grading Criteria for Comprehensive Learning Assessments (CLAs) on page 20-21 of the syllabus for specific guidelines and expectations.


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(Top Tutor) Daniel C.
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Running Head: Polaris

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Introduction

A warrant is the assurance that a company gives its clients that it will take care of any
malfunctions on the project that are unprecedented. These could be costs resulting from the
unexpected failure of the inconsistency of the product. With the warranty agreement, the
customers are assured that they will get value for their money regardless of what happens on the
products they buy. Warranties will, however not cater for misbehavior that results from possible
interference by the buyer (Pruthy & Hara, 2014). A customer who deliberately tampers with the
product in such a manner that there is the breach of the terms and conditions at the time of
purchase. (Pruthy & Hara, 201...

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