Explain the impact of accounting transactions in financial statements.

Write a 500 – 750 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.

Your paper must be formatted according to APA 6th edition guidelines, and you need to use at least one external reference.

Be sure to use the proper organization (intro, body, conclusion) and follow APA style. Your paper should have a title page and reference page, but you do not need an abstract for this assignment.

The book were using for this class is Accounting Principles:

A Business Perspective,
Financial Accounting (Chapters 1 – 8)
A Textbook Equity Open College Textbook
originally by
Hermanson, Edwards, and Maher

What is the web address that leads to your financial reports?

Report

Find an annual report for a company of interest (perhaps your employer). Publicly held company annual reports (10K) can be located via Edgar Archives on the Security and Exchange website.

To perform the search in the Edgar Archives you can use either the company name or “ticker symbol” for the company. View instructions on how to access the annual reports

Click on the link to “Interactive Data” and then the link to the “Financial Statements”. Locate and review the Income Statement and Balance Sheet. Title your post with the name of your company and share the following in your post:

What is the name of your company?

What is the web address that leads to your financial reports?

Why are you interested in this company?

Calculate the debt ratio.

What have you learned from this analysis?

Discuss significant industry trends  and competitive/operational challenges (e.g., slow growth, new competitors, new regulations,etc.)

ccounting Information System_Commercial contractor business plan

Describe the products/services sold by the firm.

Describe the firm’s industry, primary competitors, etc. Include an organisation chart showing the intended major reporting relationships that you will design into your group’s system.

Discuss significant industry trends  and competitive/operational challenges (e.g., slow growth, new competitors, new regulations,etc.) Cite all sources used (including trade journals, general business publications, Web
pages, and primary sources).

The project should be properly referenced using an accepted reference technique accompanied by appropriate bibliography and literature review at the end of section

Describe how each of the proposed AIS sub-systems contributes to organisational goals.

Identify at least four different areas where there could be potential accounting fraud in a company.

Designing the AIS to Detect Fraud

For this assignment, you will represent a company that does not currently have an accounting information system (AIS) established. Make sure you clearly identify the business line, product type, and market position.

Read this article before you begin:

Identifying the Absence of Effective Internal Controls: An Alternative Approach for Internal Control Audits.

Instructions

Write a 3–4-page paper in which you:

Identify at least four different areas where there could be potential accounting fraud in a company.

Make sure you elaborate on your reasoning for why accounting fraud could occur as well as the financial implications on the organization.

Design a method of detection and a method of limiting the possible financial fraud. Provide support for your arguments and rationale using support from your text and supplemental readings.

Provide support for arguments and rationale using AIS knowledge and recent AIS literature.

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. Make sure you are specific in your recommendations

Evaluate the application of each of the four financial ratios to a selected medium-sized private company based on comparable or benchmark industry ratios.

Investment Strategies

For this assignment you will select a medium-sized private company and one that allows access to its financial statements. You will create investment strategies for this company based on a financial analysis of investment strategies applied in other companies and determine whether the company should stay private or go public. The decision will be based on how the company compares to other companies in the same industry. You will research industry best practices and selected ratios relevant to the organization. This research will inform the decision to remain private or go public and allow you to develop an argument based on your recommendation. Your argument will be based on information from the company’s financial statements compared to both industry averages and to at least one benchmark company. Before developing your recommendation and an argument for a determination,review the guidelines and regulations associated with going public by reading Information for Small Businesses.

Instructions

Write a 4–5 page paper in which you:

Describe a selected medium-sized private company, its operations, and its associated industry and evaluate these areas to determine whether the company should be publicly traded or not.

You need access to the financial statements of the selected company to complete this assessment.

Analyze four leading financial ratios and how each would affect investment strategies and a decision for a medium-sized private company to go public or stay private.

Evaluate the application of each of the four financial ratios to a selected medium-sized private company based on comparable or benchmark industry ratios.

Recommend the application of one of the four financial ratios to a selected medium-sized private company to inform a decision to go public or stay private supported with a justification for the recommendation.

Provide at least four reliable, relevant, peer-reviewed references, published within the last five years that support the paper’s claims.

Explain and apply management accounting techniques for business planning,control and capital investment decisions.

Accounting for Managers PORTFOLIO

ACCESS TO THE ETEXT WILL BE SUPPLIED

Your portfolio is where you will be able to demonstrate your learning throughout the semester. You need to show that you have achieved each of the BFA526 three learning outcomes:

LO1 Explain and apply management accounting techniques for business planning,control and capital investment decisions.

LO2 Analyse and critically evaluate information from organisations to make decisions and communicate these through written reports.

LO3 Explain and apply financial accounting in the preparation of simple financial reports.

A template has been provided on the following page to show how you need to demonstrate your learning. Transfer this information to your own document and include your own headings and presentation style, but only submit the evidence as stated (and in the order provided). It is critical that you present your own work, it is not correct solutions that we are looking for, it is evidence of your learning. Hence there is no word limit to this portfolio, but to keep you on track, you are limited on what you can submit as evidence for each assessment criterion (called Criterion Description in the Unit Outline – see the list under

Assessment Task 3: Portfolio on pp 6-7).

For your convenience, the assessment criteria have been included in the template below. You will see the Learning Outcomes numbered in the first column. The criteria next to each learning outcome tells you what you need to do to demonstrate that you have achieved that learning outcome. Be very clear when presenting your evidence and list the learning outcome and criterion BEFORE/with the evidence.

IMPORTANT NOTE:

The assessment criteria listed represent the minimum benchmark for what every student must show to PASS BFA526.

Refer to the PORTFOLIO RUBRICfor the standard expected to achieve a Credit, Distinction or Higher Distinction GRADE.

Your portfolio will be your own collection of your best work undertaken during this semester (through Workshops and the Weekly Topics Discussion Board). By attempting the workshop questions and attending workshops, you will be able to improve your understanding of the fundamentals.

Similarly, by engaging with each topic’s Discussion Board, you will be able to work with your peers to gain a deeper understanding. Note that each topic’s discussion board will only be open for a fortnight, so if you wish to include a discussion board posting in your portfolio you need to make sure that you post within the timeframe. To include a topic’s discussion board posting in your portfolio you will also need to choose one that is 150 words or less (not including references) and specify the date that it was posted.

Determine and discuss the most effective costing method for your organization.

Final Paper

Course Project

Each student should choose an organization with which she/he is familiar, such as the place of employment, business patronized, or other situation and describe how that organization either does or does not apply the course concepts on a day-to-day basis. The following course concepts should be discussed:

Critical success factors.

Identify and discuss the fixed and variable cost.

Calculate the Contribution Margin Income Statement

Determine and discuss the most effective costing method for your organization.

Using the IRR or NPV method calculate and determine if the capital budget project is viable project cost $2 million, project life 10 years and cost of capital 15%.

Provide a recommendation for the organization

Information needed to complete the capital budgeting portion of the final project:

Your company expects to save $450,000 per year for the next 10 years by purchasing the supplier.

The cost of capital is 15%.

The company believes it’s initial investment to be $2 million.

Grading for the paper is based on the following:

Introduction and background describing organization 10%

Discussion of course concepts in context of chosen organization 65%

Conclusion, including degree to which organization incorporates concepts 10%

Quality of writing, including citing sources; and organization of project 15%

The written paper is to be: typed double–spaced, 1-inch margins, Times New Roman and 12-point font, a 10-page minimum, with correct spelling and grammar, proper citation, references, with a cover page and organized with headings.

Some tips for this assignment:

The recommendation is whether the company you are researching should invest in this capital budgeting investment, why or why not.

Be mindful of the company you select. Remember this is a managerial accounting course, it is more beneficial to study a company that manufactures some type of product. I.e. Sony, IBM, Apple, Coke, Pepsi, John Deere etc.

When determining costs,would suggest you look at the income statement/profit loss for the company and determine what expenses fit the criteria of fixed versus variable.

Remember: Fixed costs would remain the same no matter how much volume in units are being produced or sold. Variable costs change in proportion to volume. Rent is usually a fixed cost where utilities are variable as they change based on usage.

Identify differences and similarities in accounting rules (IFRS) and principles (U.S. GAAP),and to conclude which financial reports (based on GAAP or IFRS) closely approximate real value in assets (MBA-ACCT).

Bao,Lee and Romeo Summary

Comparison of U.S. GAAP vs. IFRS Study: Using resources for comparisons of U. S. GAAP with IFRS the student will write a research paper to compare the U.S. GAAP with IFRS in terms of impact on balance sheet items and income statement items. For the purpose of assurance of learning, the student will receive two scores based on:

(1)A2S1: the quality for the analysis of IFRS accounting principles compared and contrasted to U.S. GAAP (MBA-INTERNATIONAL); and

(2)A2S2: the ability to identify differences and similarities in accounting rules (IFRS) and principles (U.S. GAAP),and to conclude which financial reports (based on GAAP or IFRS) closely approximate real value in assets (MBA-ACCT).

(3)A2S3: the ability to correctly understand and use the term “earnings management” in U.S. GAAP and IAS using statistical models (MBA-QANT).

What amount of the gain or loss is subject to ordinary tax rates?

Antoine sold the following stock in 2020. ABC, Incorporated, is a § 1202 qualified small business (QSB).

Asset Cost Acquired Sale Price Sale Date
ABC, Incorporated, 150 shares $ 108,750 01/10/2009 $ 139,500 04/30/2020
DEF, Incorporated, 124 shares 21,700 11/15/2016 16,120 02/28/2020
GHI, Incorporated, 62 shares 21,700 03/31/2019 19,592 08/30/2020

Required:

Complete the chart.

After netting, what is the total gain or loss?

If Antoine is in the 37% tax rate bracket, at what rate is the net gain or loss taxed?

In 2020, Rosalva sold stock considered short-term for a gain of $1,200 and stock considered long-term for a loss of $3,530. She also had a $3,160 short-term loss carryover from 2019 and a $1,445 long-term loss carryover from 2019.

Required:

What amount will be shown as a short-term gain (loss) for 2020?

What amount will be shown as a long-term gain (loss) for 2020?

How much of the loss is deductible in 2020?

What is the amount of long-term carryover to 2021?

Jake purchased a $195,000 crane for his construction business. He sold the crane for $165,000 after taking $109,200 of depreciation. Assume Jake is in the 35% tax rate bracket.

Required:

On what form would the gain or loss originally be reported?

What is the amount of gain or loss on the sale?

What amount of the gain or loss is subject to ordinary tax rates?

Summarize the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results.

For this assignment, refer to the scenario located in “Problems – Series A,” section 8-19A of Ch. 8, “Performance Evaluation,“ of Fundamentals of Managerial Accounting Concepts. This scenario puts you in charge of preparing a budget for the Redmond Management Association annual public relations luncheon.

Read the scenario in the textbook and complete the activity below.

Use Excel—showing all work and formulas—to complete the following:

Prepare a flexible budget.

Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.
Compute flexible budget variances by comparing the flexible budget with the actual results.

Create a 6- to 8-slide presentation for the budget committee meeting. Complete the following in your presentation:

Summarize the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the flexible budget.

Summarize the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results.

Justify the favorable or unfavorable budget variances.

Since this is a not-for-profit organization, address why anyone should be concerned with meeting the budget.

Make recommendations for what can be done differently to stay on budget for future luncheons. Provide specific examples to support your recommendations.