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LiquidAssets10

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tT
发表于 2011-7-11 18:22 | 只看该作者

CFAI Mock afternoon session

question, increase, afternoon, existing
No.17: what does the question mean by 'require to cap expenses at 15% above budget'?, why does that tell us he doesn't need to inform the partners of the increase in cost is not higher than the 15% budget variance contingency agreed?

Also, No.53: why using short-term debt to reduce an existing account payable won't increase CFO?

should short-term debt be classified into CFF?
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Mechanic

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发表于 2011-7-11 18:22 | 只看该作者
on # 17, cap means he cannot spend beyond 15%. Therefore, once he reached 50% mark, does he have a duty to inform anyone?? - the answer is NO -

am not sure abt 53 -

Good Luck!

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Micholien

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发表于 2011-7-11 18:22 | 只看该作者
question 17 - Basically he has to inform them if the costs go over 15 percent, since the lighting fixtures were only 5 percent of total costs, the 50 percent increase is immaterial to report to the bosses.

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