ACC 561 Entire Course


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ACC 561 Entire Course


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ACC 561 Entire Course

ACC 561 Week 1 Individual Financial Statements (1)
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Company:˙Exxon Mobil˙Stock Symbol:˙XOM Enter the name or stock symbol of the company in the search box at the top of the following internet site.˙Nasdaq.comAfter the company information is visible select income statement underneath fundamentals on the left side of the page.˙˙Review the data included with the income statement, balance sheet, and cash flow tabs.

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Explain the information provided by each financial statement and include specific examples.
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Review the accounting data and explain positive or negative trends.˙How does this impact the business?
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If you were an investor which financial statement AND accounts would you review? Why?
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If you were a member of the management team which financial statement AND accounts would you review?˙Why?
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Write a paper between 1,000 and 1,700 words.˙Format your paper consistent with APA guidelines.

Deliverables:˙Paper (MS Word) and Turnitin report (Adobe PDF).

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ACC 561 Week 1 Individual Financial Statements (2)
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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.

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Two-Rivers Inc. (TRI) manufactures a variety of consumer products. The company?s founders have run the company for thirty years and are now interested in retiring. Consequently, they are seeking a purchaser, and a group of investors is looking into the acquisition of TRI. To evaluate its financial stability, TRI was requested to provide its latest financial statements and selected financial ratios. Summary information provided by TRI Document presented below.

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TRI Documents

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Required:

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Calculate the select financial ratios for the fiscal year Year 2. (use MS word or excel but excel is more recommended)
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Interpret what each of these financial ratios means in terms of TRI?s financial stability and operating efficiency.
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Submit˙your assignment.

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ACC 561 Week 2 Individual: Small Business Analysis
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You are interested in establishing a small business.˙Write a paper between 1,000 and 1,500 words discussing your small-business idea. Include the following:

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Discuss your business idea and the product or service your small business provides.
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Identify which accounting method (i.e. cash versus accrual) you plan to use for your business.˙Why did you select this choice?
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List six business transactions you expect to incur with your company. State which accounts (from your chart of accounts) are impacted.
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Discuss how each business transaction (see point 3) impacts your income statement, balance sheet and statement of cash flow.
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Select one organization type (sole proprietorship, partnership, C-corporation, and S-corporation) for your company and explain why you selected this option.
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Format your paper consistent with APA guidelines. Deliverables:˙Paper (MS Word) and Turnitin report (Adobe PDF).

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ACC 561 Week 2 Accounting Methods
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Purpose of Assignment˙
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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.˙

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Resources˙
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Accounting Methods Grading Guide
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Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC)
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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.
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Assignment Steps
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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.

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

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Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting.
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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.
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Submit˙your assignment.

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ACC 561 Week 3 Ratio Analysis
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Purpose of Assignment˙
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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.

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Resources
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Ratio Analysis Grading Guide
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Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC)
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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.
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Assignment Steps
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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.

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

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Explain why you would want the financial statements to be audited.
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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.
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Evaluate trends in the performance of P. Jason Corporation. Identify each performance measure as favorable or unfavorable and explain the significance of each.
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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.
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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?
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Based on your analysis of P. Jason Corporation, will you recommend approval for the requested loan? Provide specific details to support your decision.
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Format˙the assignment according to APA guidelines.

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Submit˙your assignment.

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ACC 561 Week 3 Team Business Plan
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Prepare a financial and business analysis of Tootsie Roll Industries, Inc. (1,500 to 2,750 words) in order to secure a loan for the company.˙The loan will increase the company?s total liabilities by 10%. The contents of the plan should include the following:

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Prepare a financial analysis (spreadsheet) in Excel using the company?s financial statements.˙The spreadsheet should include historical financial statements (balance sheet and income statement), projected financial statements (balance sheet and income statement), a three year ratio analysis of the company?s historical financial statements, and a three year ratio analysis of the company?s projected financial statements.˙The accounting periods for the historical and projected analysis are provided at the beginning of week three. The ratio analysis should include several types of liquidity, solvency, and profitability ratios. Incorporate industry comparisons with your ratio analysis and list your assumptions. Submit the final spreadsheet with your team?s paper.
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Prepare a business plan that includes a synopsis, market and sales analysis, product line narrative, funding request/purpose of loan and a financial summary using the results from your spreadsheet.˙It is important to collaborate with everyone on the team and discuss how the request/purpose of the loan will impact each section of the business plan. Incorporate your discussions and conclusions in each section of the plan.
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Detailed instructions and guidance are provided during week three.

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Format your paper consistent with APA guidelines. Deliverables:˙Paper (MS Word), Excel Spreadsheet, and Turnitin report (Adobe PDF).

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Each team member is required to separately submit a learning team evaluation to the instructor after the project is complete. Submit this using Blackboard private message.

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ACC 561 Week 4 Individual: Business Analysis
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Read the case study provided and write a paper between 1,000 and 1,700 words addressing the following questions.

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You are a recent MBA graduate and were hired by the company as a business consultant.˙Your objective is to identify areas for improvement. Present three business recommendations to management and state how this will impact the company?s financial statements.
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Why did the company?s management think it was necessary to install an ABC system? Do you agree with their reasoning? Explain your answer.
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Evaluate and recommend changes to the organization?s cost drivers.˙State how this influences cost accounting results and business decision capabilities.
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Is job order or process costing a viable option for the company. Why or why not?
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Format your paper consistent with APA guidelines.˙Deliverables:˙Paper (MS Word) and Turnitin report (Adobe PDF).

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ACC 561 Week 4 Production Costs
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Purpose of Assignment˙
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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.˙

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Resources

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Production Costs Grading Guide
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Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC)
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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.
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Assignment Steps
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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.

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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.

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Submit˙your assignment.

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ACC 561 Week 5 Team CVP and Break Even Analysis
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Review the case study posted to your group?s week five class conversation.˙The link to class conversations is in the upper right corner. Write a paper between 1,000 and 2,000 words addressing the following:

Part 1, Sections 1-4:˙Respond to the questions incorporated with the case study.

Part 2:˙Assume your team decides to invest in the business. Prepare a variable costing income statement in Excel using monthly projections for revenue and expenses.˙Include a list of assumptions used to support the numbers incorporated with the income statement. Calculate the break-even point in dollars and number of members.˙Calculate the margin of safety. Incorporate the results of your analysis with the paper.

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Format the paper consistent with APA guidelines.˙Deliverables:˙Paper (MS Word), Excel Spreadsheet, and Turnitin report (Adobe PDF).

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Instructions and guidance are provided during week five.

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Each team member is required to separately submit a learning team evaluation to the instructor after the project is complete. Submit this using Blackboard private message.

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ACC 561 Week 5 Cost-Volume-Profit Analysis
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Purpose of Assignment˙
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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.˙

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Resources
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Cost-Volume-Profit Analysis Grading Guide
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Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC)
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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.
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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.

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Assignment Steps
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Complete˙the following:

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Compute the current break-even point in units, and compare it to the break-even point in units if Mary?s ideas are used.
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Compute the margin of safety ratio for current operations and after Mary?s changes are introduced (Round to nearest full percent).
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Prepare a CVP (Cost-Volume-Profit) income statement for current operations and after Mary?s changes are introduced.
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Prepare˙a maximum 700-word informal memo to management addressing Mary?s suggested changes.

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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.
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Show˙your work in Microsoft Word or Excel.˙

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Complete˙calculations/computations using Microsoft Word or Excel.˙˙˙

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Submit˙your assignment.

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ACC 561 Week 6 Individual Budgets and Decision Making
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The purpose of this assignment is to evaluate and prepare a flexible budget.

Resources: Excel File.˙Tutorials and links to Excel help files were provided during week one of our class.

Instructions:

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Download the Excel file posted to the week 6 project instructions and resources thread. The thread and file are available at the end of week five.
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Read the instructions tab.
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Complete the flexible budget tab.
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Submit the completed Excel file.
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ACC 561 Week 6 Managerial Analysis
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Purpose of Assignment˙
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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.˙

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Resources
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Managerial Analysis Grading Guide
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Green Pastures Static Budget Income Statement
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Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC)
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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.
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Assignment Steps
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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.

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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.

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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.

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Develop˙a 700-to 1050-word examination of the financial statements and include the following based on the static budget report:

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

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Complete˙calculations/computations using Microsoft Word or Excel.˙˙˙

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Submit˙your assignment.

ACC 561 Entire Course

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