Accounting Memo

Fenimore Manufacturing Company uses the average cost method. It has followed a policy of expensing all its manufacturing cost variances. It is considering a change in its policy that will involve allocating them between cost of goods sold and inventory. Fenimore’s president has asked you which of these alternative policies is consistent with GAAP.

Research the related generally accepted accounting principles and prepare a short memo to the president. Cite your references and applicable paragraph numbers.

MUST use FASB Accounting Standard of Codification and cite what code you used to explain in memo.

First paragraph would explain just the facts that we have and know about the situation. DO NOT include any findings or research in this paragraph.

Second paragraph explains your findings. This is where you would reference what code you’re using and explain it in your own words. It can be as many codes as you need to explain your findings. For example, one or two codes, as long as it makes sense in explaining to the president in the memo.

Paragraph 3 needs to include your recommendation or advice to president. It needs to be clear and straightforward.

Calculate your order
Pages (275 words)
Standard price: $0.00
Client Reviews
Our Guarantees
100% Confidentiality
Information about customers is confidential and never disclosed to third parties.
Original Writing
We complete all papers from scratch. You can get a plagiarism report.
Timely Delivery
No missed deadlines – 97% of assignments are completed in time.
Money Back
If you're confident that a writer didn't follow your order details, ask for a refund.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.
Power up Your Study Success with Experts We’ve Got Your Back.