Would the government have a budget surplus or deficit under this new system with respect to these two taxpayers (assume all other factors remain constant)?Is this system fair?

ACC 261 Online – Discussion Problem 2

Every year during the tax filing season, people complain about how complex the tax system has become. Assume that Congress is considering passing legislation to do away with the current tax system and impose a 18% flat tax on all income. This means there is no longer tax free provisions such as the gain exclusion on the sale of your home, social security income, tax-exempt interest, life insurance proceeds, and child support. This also means that there are no special loopholes, no longer an Alternative Minimum Tax (see Ch. 13), no filing status distinctions, no tax credits, and no graduated tax rates.

1. What would be your tax liability under the current system?

2. What would be the effective tax rate under the current system?

3. What would be your tax liability under this new 18% flat tax system?

4. Would you vote in favor of this flat tax system? Explain your position.

5. Would the government have a budget surplus or deficit under this new system with respect to these two taxpayers (assume all other factors remain constant)?Is this system fair?

Students whose last name begins with A – L: You must take the point of view of an unmarried taxpayer with two dependent children, gross wages of $68,000 (plus 5,000 of child support). Be sure to consider standard deduction and tax credits under the current system.

Students whose last name begins with M – Z: You must take the point of view of an unmarried taxpayer with two dependent children, gross wages of $320,000. Be sure to consider standard deduction and tax credits under the current system.
Requirements:

1. Using your knowledge of tax law, prepare a Discussion Board (Initial Post) response and answer all 5 questions above.

2. Post a civil and thoughtful (Stay objective; no politics!) discussion response to a student (2nd Post) who took an opposing view.

 

What can be done to counteract negative trends,or continue with positive trends? What actions do you recommend management take?

Analysis of Accounts Receivable and Inventory

Calculating ratios is only the first step in the analysis process, the ratios results need interpretation.

What do the result indicate about the financial performance?

Consider how these values are changing. Interpret these changes as positive or negative for the corporation.

What can be done to counteract negative trends,or continue with positive trends? What actions do you recommend management take?

Also, relate changes in revenues and cost of goods sold values to changes in accounts receivable and inventory from year to year.  Do the changes in revenues and cost of goods sold agree with the changes in accounts receivable and inventory?

What are bonds,and how does issuing bonds above or below their par value affect the amount of interest expense recorded each accounting period?

Additionally, provide a summary of the accounting concepts learned through the readings and practice quizzes for this week.  Demonstrate your understanding of the week’s concepts.  If you need ideas regarding topics to discuss, see ideas below.  The more detailed your write-up documenting your understanding the higher it will be graded.  (See Rubric for details.)

Complete the report below as a Word document and submit in the Assignment Folder for week 1 Homework.

Additionally, here are some topics to consider:

How does the intent of management (as to length of time) impact how investments are reported?

What are bonds,and how does issuing bonds above or below their par value affect the amount of interest expense recorded each accounting period?

What are the key assumptions upon which accounting depends?

What topic(s) gave you trouble this week (if any)?/What topic(s) do you feel you were able to grasp?  Post questions in the homework discussion thread!

What are the most challenging concepts for you to understand?Have you found any supplemental resources or websites that have helped you to better comprehend the material?

These are discussion Questions need to be a 250 minimum they are all separate and each one needs a Reference can all be from same book as well.
This is the book that am using in this class

Kieso, D., Weygandt, J., & Warfield, T. (2019). Intermediate accounting (17th ed.). John Wiley & Sons, Inc. ISBN-13: 9781119571483

DQ1

Select a publicly-traded company and access its most recent financial statements from its annual report. Include the name of the company in your subject line, and do not choose a company about which one of your classmates has already posted. Examine the income statement for that company and identify the items that deviate from the typical formats of the multi-step income statement that we have examined in class. Find justification in the FASB Codification that supports or contradicts the financial statement presentation and cite the Codification section so that your classmates can find this information. If there are any items that you see on the financial statements that you do not understand, identify those for your classmates and instructor to provide guidance on. Participate in follow-up discussion by asking questions about the financial statements that your classmates posted on or responding to questions that they pose.

DQ2

Explore the textbook chapters and related resources for this topic. What are the most challenging concepts for you to understand? Have you found any supplemental resources or websites that have helped you to better comprehend the material? Participate in follow-up discussion by explaining concepts to your classmates, or by commenting on additional resources that were shared.

DQ3

Consider a scenario in which you could personally use present or future value calculations to come to a conclusion. Explain the scenario and provide calculations that show how you applied the time value of money concepts. Participate in follow-up discussions by asking questions, commenting on your classmates’ posts, or recomputing classmates’ calculations to apply to your own assumptions.

DQ4

Explore the textbook chapter and related resources for this topic. What are the most challenging concepts for you to understand? Have you found any supplemental resources or websites that have helped you to better comprehend the material? Participate in follow-up discussion by explaining concepts to your classmates, or by commenting on additional resources that were shared.

 

Explain how the ratio is calculated and discuss and interpret the ratios that you calculated.

Ratio Analysis

Using the data from the Coca-Cola 2017 Annual Report (Links to an external site.) financial statements, starting on page 60, calculate the following ratios:

Common Stockholders Equity Ratio
Profit Margin Ratio
Cash Ratio
Debt to Equity Ratio
Debt Ratio

Explain how the ratio is calculated and discuss and interpret the ratios that you calculated.

Submit a screenshot of the company financial statements as an appendix. The analysis must show all formula calculations to support your results.

Identify at least three of the five different 2013 framework elements that focus on internal control.

COSO’s Internal Control Integrated Framework

For this assignment, pick a health care organization of your choice. It could be a hospital, large clinic, or care facility.

Identify at least three of the five different 2013 framework elements that focus on internal control.

Make sure that elements connected are related to financial reporting of the organization. Provide your rationale on the reasoning that the selected elements are tied to the financial reporting process in the organization. These are located in Chapter 3 in your textbook.

Design a method in AIS where it can be integrated in the health care industry that will improve the efficiency of its operations.

Design a method in AIS where it can be integrated in the health care industry that will improve the communication of the chosen health care organization.

Draft a one-page recommendation at the end of the document directed to the CEO explaining the findings, recommendations, and benefits of installing an accounting information system.

Identify the type of issue and the people impacted by the ethical issue.

Personal Action Plan for Ethical Decision making

Creating a personal Action Plan for Ethical Decision making

1. Identify the type of issue and the people impacted by the ethical issue

2.List four possible approaches and analyze the potential outcome of each

3.Choose the best approach and describe how to implement it.

4. Monitor the outcome by providing a fictional ending to the case study. Did the chose approach work? why or why not?

What are the top two regions in the world for sales volume of consumer office supplies?Which market region is an emerging market for Superstore Sales?

Auditing

Refer to Tableau (Links to an external site.). If you do not already have a login, please register.

Your instructor will provide you with an Excel spreadsheet with the data for the ABC Company to use in this case.

Required:

Sort the file from largest to smallest Sales revenue. Determine a lower bound for the upper stratum. Defend your choice.

Assume that the ABC Company’s FYE is 12/31/12. Check for appropriate sales cutoff. Identify any potential errors in sales revenue.

Use Tableau to determine the market segment of sales by product category and consumer market region. What category of product has the highest sales volume? What category has the lowest sales volume? What are the top two regions in the world for sales volume of consumer office supplies? Which market region is an emerging market for Superstore Sales?

What month is the highest in terms of sales value? What is the year with the highest sales so far for the ABC Company?

Use the “Show Me” feature to determine which category of furniture sales yields the lowest profit, regardless of geographic location.

Learn about how to create a forecast in Tableau using the following link (and associated webinar): Forecasting with Tableau (Links to an external site.). Assume that you wish to develop an expectation to compare likely sales levels by month across the three product categories, that is, furniture, office, and technology. What is your forecast of sales for FYE 2013 for each of these categories? How would you use these forecasts as compared to actual FYE 2013 amounts as asserted by management?

Your written response paper should be 8-10 pages in length. Type your paper in a Word document and follow APA format, according to CSU Global Writing Center Requirements (Links to an external site.). Include a title page and reference page. Use four (4) outside academic sources other than the textbook, course materials, or other information provided as part of the course materials.

Explain the impact of accounting transactions in financial statements.

Accounting transactions and financial statements

Instructions:

Write a 550 – 650 word paper that addresses the following topic:

Explain the impact of accounting transactions in financial statements.

Describe the elements and purpose of each financial statement.

Discuss the components and use of financial analysis.

The paper must be formatted according to APA 6th edition guidelines, and you need to use at least two external reference. To maximize grade, be sure to use the proper organization (intro, body, conclusion) and follow APA style.

Have attached a paper have put together from sources on the internet which has all the key points needed but most was copied and pasted. Plus it is not quite long enough. Need this term paper to have a similarity index less than 15% because paper will automatically be submitted to Turnitin.