ACC/561: Accounting Entire Course

ACC/561: Accounting Entire Course

Follow Below Link to Download Tutorial

For More Information Visit our Website: (https://homeworklance.com/)

Email Us At :Support@homeworklance.com or Info.homeworklance@gmail.com

                                                         Or Make Custom Order

                          A competent writer crafting your custom made paper

We write high-quality sample essays, term papers, research papers, thesis papers, dissertations, book reviews,nbook reports, speeches, assignments, business papers and custom web content

                        Place an Order

We do custom work 100% original and plagiarism free .If you need help in any assignment just send us requirements with time limit ,we will quote a price and after your confirmation ,we start working on your assignment .An original work ready for submission provided to you

ACC/561: Accounting Entire Course

ACC 561 Wk 1 Individual: Financial Statements

Purpose of Assignment 

This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company’s liquidity, solvency, and profitability. 

Assignment Steps 

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC), University Library, Library resources: Company Directories and Financials Tutorial help on Excel and Word functions can be found on the Microsoft Office website. There are also additional tutorials via the web offering support for Office products.

Select a publicly traded, U.S. corporation with which you are familiar or one where you currently work or have worked in the past.

Research the company on the Internet and download the Income Statement, Statement of Shareholders’ Equity, Balance Sheet, and Statement of Cash Flows.

Develop a minimum 700-word examination of the financial statements and include the following:

  • Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year?
  • Explain the relevance of changes in net income to investors.
  • Determine the ending balance in shareholders’ equity. Why would organizations such as labor unions be interested in this?
  • Determine the total value of assets.
  • Discuss the relevance of the total value of assets to potential creditors and why this is important.
  • Compute the return on assets. Discuss the relative profitability of the company based on your results.
  • Compute the working capital and current ratio. Evaluate the relative liquidity of the company based on your results.
  • Compute the debt to assets ratio and the free cash flow for your company. Analyze the results and comment on the relative solvency of the company.
  • Discuss how the financial statements are used in your current role or a position you would like to hold. How might these aid you in managerial decision making?

Show your work in Microsoft Word or Excel. 

Complete calculations/computations using Microsoft Word or Excel.   

Include the four financial statements along with your assignment.

Format your assignment consistent with APA guidelines. 

Submit your assignment.

Resources:

ACC 561 Wk 2 Individual Accounting Methods

Purpose of Assignment 

This week’s activity illustrates the role a company’s accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the impact on both cash and accrual accounting methods. 

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC) 

Tutorial help on Excel and Word functions can be found on the Microsoft Office website. There are also additional tutorials via the web offering support for Office products. 

Student Materials

Accounting Methods Grading Guide

Scenario: BizCon, a consulting firm, has just completed its first year of operations. The company’s sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day financing – meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year.

As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments.

Prepare the memo in a maximum 700 words including the following information to better outline the situation:

  • Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting.
  • Assess how at the end of the year, BizCon reported a favorable net income, yet the company’s management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash.

Format your assignment consistent with APA guidelines. 

Submit your assignment.

Resources:

ACC 561 Wk 2 Team Assignment: Learning Team Charter

Overview

In this course, your team will work together to complete a few assignments. This chartering assignment is designed to help you apply your project management skills to understand the scope of your project, then break the project into goals, tasks, responsibilities, resources, and milestones. The assignment also asks you to discuss and answer some questions that will lay the foundation for developing your project.

Beyond the Standard Charter

You will notice that this chartering process goes beyond your standard University of Phoenix Charter by helping your team create a project plan for team success by providing you with opportunities to define your deliverables, recognize the connections between the deliverables and other classroom activities, determine your timelines and milestones, identify each team member’s expected contribution, and answer questions that lay the foundation for building your projects.

Putting “I” in “Team”

Important to note is the section for defining learning team expectations related to participation, collaboration, communication, team contributions, assignment deadlines, and other considerations. Please take the time to discuss and document how your team will address each area and any challenges that may arise. It is important to understand that we are “Putting ‘I’ in ‘Team’”. In short, we will recognize and reward individuals according to their contributions to team output, not according to their team membership. This means that individual grades may be different from the team grade depending on each individual’s contribution to each team deliverable.

Completing this Assignment

Do the following to complete this assignment:

  • Review the Charter and Project plan.
  • Review the weekly Learning Team deliverables.
  • Complete the provided Learning Team Charter and Project Plan, including the following: team member contact information, project by week, learning team expectations, team discussion questions.

Submit your assignment.

Resources:

ACC 561 Wk 3 Individual Ratio Analysis

Purpose of Assignment 

This week’s focus is on the preparation of financial reports for internal users, such as managers. This case study applies the concepts of managerial accounting, through comparative and ratio analysis, and requires students to identify financial data needed by managers for decision making.

About Your Signature Assignment

This signature assignment is designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. The signature assignments may be graded with an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for program improvements. 

Materials

Ratio Analysis Grading Guide

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC), Scenario Worksheet Tutorial help on Excel® and Word functions can be found on the Microsoft Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: You are a loan officer for White Sands Bank of Taos. Paul Jason, president of P. Jason Corporation, has just left your office. He is interested in an 8-year loan to expand the company’s operations. The borrowed funds would be used to purchase new equipment. As evidence of the company’s debt-worthiness, Jason provided you with facts (available in the attached Scenario Worksheet). Jason is a very insistent (some would say pushy) man. When you told him you would need additional information before making your decision, he acted offended and said, “What more could you possibly want to know?” You responded you would , at minimum, need complete, audited financial statements.

Develop a minimum 700-word examination of the financial statements and include the following:

  • Explain why you would want the financial statements to be audited.
  • Discuss the implications of the ratios provided for the lending decision you are to make. That is, does the information paint a favorable picture? Are these ratios relevant to the decision? State why or why not.
  • Evaluate trends in the performance of P. Jason Corporation. Identify each performance measure as favorable or unfavorable and explain the significance of each.
  • List three other ratios you would want to calculate for P. Jason Corporation, and in your own words explain in detail why you would use each.
  • As the loan officer, what else would you do to gain a better understanding of Paul Jason’s, and the Corporation’s financial picture and why?
  • Based on your analysis of P. Jason Corporation, will you recommend approval for the requested loan? Provide specific details to support your decision.

Format the assignment consistent with APA guidelines.

Submit your assignment.

Resources:

ACC 561 Wk 3 Team Assignment: Financial Statement Analysis and Decision Making Activity

https://i2.wp.com/homeworklance.com/wp-content/uploads/2017/04/zipppppp-1.jpg?resize=125%2C125&ssl=1

ACC 561 Wk 3 Team Assignment: Financial Statement Analysis and Decision Making Activity

Purpose of Assignment 

The activity requires students to perform research and analysis on competing companies and the potential implications of international standards. This real-world analysis is key to understanding how a company’s profitability, liquidity, and solvency can be useful for all users. Students also learn to analyze financial statements and use managerial tools to make decisions from an investor’s and creditor’s standpoint.

Resources: U.S. Securities and Exchange Commission (SEC), websites such as Annual Reports (AnnualReports.com) Tutorial help on Excel and Word functions can be found on the Microsoft Office website. There are also additional tutorials via the web offering support for Office products.

Select two competing companies, one of which must be an international company, and locate annual reports for these two companies on the Internet.

Research the two companies on the Internet and download the Income Statement, Statement of Shareholders’ Equity, Balance Sheet, and Statement of Cash Flows.

Develop a minimum 525-word examination of the financial statements and include the following:

  • Make a 5-year trend analysis for each company, using 2011 as the base year, of:
  • Net sales.
  • Net income. Discuss the significance of the trend results.
  • Compute for 2015 and 2014 the:
  • Debt to assets ratio.
  • Times interest earned. How would you evaluate each company’s solvency?
  • Compute for 2015 and 2014 the:
  • Profit margin.
  • Asset turnover.
  • Return on assets.
  • Return on common stockholders’ equity. How would you evaluate each company’s profitability?
  • Evaluate the financial opportunity presented by the companies. If you were a creditor, which company would you be more likely to lend money to? Defend your decision.
  • Which company would you recommend as an investment? Discuss the items that were considered in your decision.
  • Research global implications for the international company selected. How might changing environmental factors affect organizational choices?
  • Consider the ethical climate (internal or external) of your chosen companies. Describe the ethical issues and impact on the stakeholders. What has been/is being done to resolve these issues? Do you agree with these methods for resolution? If not, what might you do differently?.

Show your work in Microsoft Word or Excel.

Complete calculations/computations using Microsoft Word or Excel.

Include the four financial statements along with your assignment.

Format your assignment consistent with APA guidelines.

Submit your assignment.

Note: Grades are awarded based upon individual contributions to the Learning Team assignment. Each Learning Team member receives a grade based upon his/her contributions to the team assignment. Not all students may receive the same grade for the team assignment.

Student Materials

Financial Statement Analysis and Decision Making Activity Grading Guide

Resources:

Center for Writing Excellence

Reference and Citation Generator

Grammar and Writing Guides

Learning Team Toolkit

ACC 561 Wk 4 Individual Production Costs

Purpose of Assignment 

The materials covered this week distinguish between the different costing methods and provides needed tools for decision making. This case study focuses on determining equivalent units in a production business setting. 

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC) 

Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products. 

Scenario: Davis Skaros has recently been promoted to production manager. He has just started to receive various managerial reports, including the production cost report you prepared. It showed his department had 2,000 equivalent units in ending inventory. His department has had a history of not keeping enough inventory on hand to meet demand. He has come to you, very angry, and wants to know why you credited him with only 2,000 units when he knows he had at least twice that many on hand.

Prepare a maximum 700-word informal memo and explain to Mr. Skaros why his production cost report showed only 2,000 equivalent units in ending inventory. Using a professional tone, explain to him clearly why your report is accurate.

Format the assignment consistent with APA guidelines. 

Submit your assignment.

Resources:

ACC 561 Wk 5 Individual Cost-Volume-Profit Analysis

Purpose of Assignment 

The Case Study focuses on CVP (Cost-Volume-Profit), break-even, and margin of safety analyses which allows students to experience working through a business scenario and applying these tools in managerial decision making. 

Materials

Cost-Volume-Profit Analysis Grading Guide

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC)

Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: Mary Willis is the advertising manager for Bargain Shoe Store. She is currently working on a major promotional campaign. Her ideas include the installation of a new lighting system and increased display space that will add $24,000 in fixed costs to the $270,000 in fixed costs currently spent. In addition, Mary is proposing a 5% price decrease ($40 to $38) will produce a 20% increase in sales volume (20,000 to 24,000). Variable costs will remain at $24 per pair of shoes. Management is impressed with Mary’s ideas but concerned about the effects these changes will have on the break-even point and the margin of safety.

Complete the following:

  • Compute the current break-even point in units, and compare it to the break-even point in units if Mary’s ideas are used.
  • Compute the margin of safety ratio for current operations and after Mary’s changes are introduced (Round to nearest full percent).
  • Prepare a CVP (Cost-Volume-Profit) income statement for current operations and after Mary’s changes are introduced.

Prepare a maximum 700-word informal memo to management addressing Mary’s suggested changes.

  • Explain whether Mary’s changes should be adopted. Why or why not? Analyze the above information (three bullet points above) and use this information to support your suggestion.

Show your work in Microsoft Word or Excel. 

Complete calculations/computations using Microsoft Word or Excel.   

Format your assignment consistent with APA guidelines.

Resources:

ACC 561 Wk 6 Individual: Managerial Analysis

Purpose of Assignment 

This comprehensive case requires students to evaluate a static budget and prepare flexible budgets to meet managerial needs. Students are required to calculate and analyze variances and discuss how variances are critical to managerial decision making. 

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC), Green Pastures Static Budget Income Statement Tutorial help on Excel® and Word functions can be found on the Microsoft Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: Green Pastures is a 400-acre farm on the outskirts of the Kentucky Bluegrass, specializing in the boarding of broodmares and their foals. A recent economic downturn in the thoroughbred industry has led to a decline in breeding activities, and it has made the boarding business extremely competitive. To meet the competition, Green Pastures planned in 2017 to entertain clients, advertise more extensively, and absorb expenses formerly paid by clients such as veterinary and blacksmith fees.

The budget report for 2017 is presented as an attachment. As shown, the static income statement budget for the year is based on an expected 21,900 boarding days at $25 per mare. The variable expenses per mare per day were budgeted: feed $5, veterinary fees $3, blacksmith fees $0.25, and supplies $0.55. All other budgeted expenses were either semifixed or fixed.

During the year, management decided not to replace a worker who quit in March, but it did issue a new advertising brochure and did more entertaining of clients.

Develop a minimum 700-word examination of the financial statements and include the following:

Based on the static budget report:

  • What was the primary cause(s) of the loss in net income?
  • Did management do a good, average, or poor job of controlling expenses?
  • Were management’s decisions to stay competitive sound?
  • Prepare a flexible budget report for the year.
  • Based on the flexible budget report:
  • What was the primary cause(s) of the loss in net income?
  • Did management do a good, average, or poor job of controlling expenses?
  • Were management’s decisions to stay competitive sound?
  • What course of action do you recommend for the management of Green Pastures?

Show your work in Microsoft Word or Excel. 

Complete calculations/computations using Microsoft®Word or Excel.   

Format the assignment consistent with APA guidelines.

Submit your assignment.

Resources:

Center for Writing Excellence

Reference and Citation Generator

Grammar and Writing Guides

Learning Team Toolkit

ACC 561 Wk 6 Individual: Final Exam

Question 1

Differences between a job order cost system and a process cost system include all of the following except the:​

Question 2

Henson Company began the year with retained earnings of $380,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $40,000. What was Henson’s retained earnings at the end of the year?​

Question 3

Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or over-application of overhead for the period:

Estimated annual overhead cost  $1,600,000

Actual annual overhead cost     $1,575,000

Estimated machine hours        400,000

Actual machine hours           390,000

Question 4

Which one of the following is an example of a period cost?​

Question 5

What is the primary difference between a static budget and a flexible budget?​

Question 6

Which of the following will not result in an unfavorable controllable margin difference?​

Question 7

At September 1, 2017, Baxter Inc. reported Retained Earnings of $423,000. During the month, Baxter generated revenues of $60,000, incurred expenses of $36,000, purchased equipment for $15,000 and paid dividends of $6,000. What is the balance in Retained Earnings at September 30, 2017?​

Question 8

Hollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $13 of variable costs to make. During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio?​

Question 9

Which is the last step in developing the master budget?​

Question 10

Based on the following data, what is the amount of working capital?

Accounts payable………………………………………………………..$64,000

Accounts receivable……………………………………………………..114,000

Cash………………………………………………………………………. 70,000

Intangible assets…………………………………………………………100,000

Inventory…………………………………………………………………. 138,000

Long-term investments…………………………………………………..160,000

Long-term liabilities……………………………… ………………………200,000

Short-term investments……………………………………………………80,000

Notes payable (short-term)………………………………………………..56,000

Property, plant, and equipment………………………………………..1,340,000

Prepaid insurance…………………………………………………………….2,000

Question 11

Are advanced receipts from customers treated as revenue at the time of receipt? Why or why not?​

Question 12

The Mac Company has four plants nationwide that cost $350 million. The current fair value of the plants is $300 million. The plants will be reported as assets at:​

Question 13

In performing a vertical analysis, the base for sales revenues on the income statement is:​

Question 14

La More Company had the following transactions during 2016:

  • Sales of $9,000 on account
  • Collected $4,000 for services to be performed in 2017
  • Paid $3,750 cash in salaries for 2016
  • Purchased airline tickets for $500 in December for a trip to take place in 2017

What is La More’s 2016 net income using accrual accounting?

Question 15

Which statement is correct?​

Question 16

Which of the following is not an underlying assumption of CVP analysis?​

Question 17

If a plant is operating at full capacity and receives a one-time opportunity to accept an order at a special price below its usual price, then:​

Question 18

Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The company produces 300,000 wheels and 600,000 seats each year. Each wheel uses 2 parts, and each seat uses 3 parts. How much of the assembly overhead should be allocated to wheels?​

Question 19

Scorpion Production Company planned to use 1 yard of plastic per unit budgeted at $81 a yard. However, the plastic actually cost $80 per yard. The company actually made 3,900 units, although it had planned to make only 3,300 units. Total yards used for production were 3,960. How much is the total materials variance?​

Question 20

The entry to record the acquisition of raw materials on account is:

Question 21

It costs Garner Company $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 3,000 scales at $15 each. Garner would incur special shipping costs of $1 per scale if the order were accepted. Garner has sufficient unused capacity to produce the 3,000 scales. If the special order is accepted, what will be the effect on net income?​

Question 22

Miller Manufacturing’s degree of operating leverage is 1.5. Warren Corporation’s degree of operating leverage is 3. Warren’s earnings would go up (or down) by ________ as much as Miller’s with an equal increase (or decrease) in sales.

Question 23

Which of the following statements concerning users of accounting information is incorrect?

Question 24

An activity-based overhead rate is computed as follows:​

Question 25

Top management notices a variation from budget and an investigation of the difference reveals that the department manager could not be expected to have controlled the variation. Which of the following statements is applicable?​

Question 26

Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base?​

Question 27

The investigation of materials price variance usually begins in the:​

Question 28

Which of the following statements is not true?​

Question 29

Financial and managerial accounting are similar in that both:​

Question 30

If there are no units in process at the beginning of the period, then:

Leave a Reply

Your email address will not be published. Required fields are marked *