Accounting

Unethical conduct is not necessarily illegal conduct, and the difference between ethical and unethical conduct can be difficult to spot. Using the Internet, research, identify and post an example company, within the last year, engaging in legal but seemingly unethical conduct and provide why you believe the company has failed to make right decisions in the course of business.  Provide your sources for information.  Please try to provide an example company no one has written on and be mindful that some fellow students may work for that company.  Please be professional in your assessment and use credible sources.  Do not post about social issues or opinion with no factual basis and please, no politics. It distracts from the discussion.  Sources must be credible and scholarly sources.  Pursuant to the chapter reading, when it comes to following the law, where are laws found and what is the purpose of law?  In your mind, which purpose do you agree with and why?

Please don’t repeat the questions and answers in a  paragraph  1. Who are all of the people at fault for this situation and why? 2. What does the evidence tell you? What kind of mistakes did the auditor and others make? 3. What are some policies and/or procedures that could be put in place to help avoid situations like this in the future? 4. If you were asked to defend Rita Crundwell in court, how would you do it? I am looking for a devils advocate here. 5. (alternate) If you cant answer #4 above, then discuss what you think may have led her to this point. From opportunity, to rationalization to financial pressure, it looks like all elements of the fraud triangle were present. How did these issues contribute to her eventual demise? 6. How did Rita try to justify what she had done? Please click the link to watch the sources  https://youtu.be/KkBJJSWN_lw https://youtu.be/2UkXhc2pPA8  Rita Crundwell – Journal of Forensic & Investigative Accounting.pdf

Knowledge: 1. Critical appreciation of the current key issues in international financial reporting 2. Critical understanding of the conceptual framework as a paradigm for accounting 3. Critical understanding of the uses and limits of financial information 4. Critical understanding of financial reports for strategic decision making Skills 5. An ability to demonstrate cognitive skills of critical thinking and analysis

Over the last year, we have seen significant changes transform society in a number of ways including social justice,  global pandemics, civic engagement to name a few. Discuss specific ways in which NABA(National Association for Black Accountants) can ensure its programs and efforts reflect these changes and have impact on its members. Also include ways in which you could be involved in these changes.

Term Paper (Individual, 10 points) The term paper is meant to assess you understanding of and ability to apply the knowledge you have gained in the course. You must find a current financial accounting issue on which you believe research can be brought to bear. You can find such issues by reading academic and professional accounting journals or from press reports. Once you have a topic, you must find six to eight related published or unpublished research studies that can shed light on the issue. You must submit a brief proposal outlining the issue, the article(s) that motivated your interest in the topic and your reading list. I will usually approve all reasonable proposals but I reserve the right to suggest modifications. Once the proposal is approved, you will synthesize the insights from your readings list to propose a solution that you think will best address the issue. You can share topics with other students but your reading lists should not have more than two out of six or three out of eight papers in common. Your term paper should reflect your own analysis and thinking, not the results of others who are working on the same topic. Your paper should be distinctively yours even if the conclusions are the broadly the same as those of others.

Choose a U.S. public company that you are familiar with or one in which you may have an interest. You will now have the opportunity to apply some of the concepts reviewed in the prior modules to the financial statements of a company of your choice. Required Briefly explain your interest in the company and its business. Go to the company’s website and locate the most recent annual financial statement (10-K or Annual Report). Include a screenshot of the website and a link to the financial statement in your write-up. Download and save the financial statement. Submit the file as separate file as part of the assignment. Does the corporation have an operating income or loss? What is the amount of total assets on the balance sheet? What type of the information is found in Statement of shareholders equity? What type of the information is found in Statement of cash flows? How is the statement of cash flow different than the income statement? The report includes a lot of information in addition to the financial statements. Provide examples of two other kinds of content and makes a brief comment about each example.

FASB Codification The Financial Accounting Standards Board (FASB) is a domestic, not-for-profit organization based in Connecticut. For more than 40 years, the FASB has helped set reporting standards within the accounting trade. Visit the FASB website and read About the FASB to learn more about its history. One of the FASB’s major contributions to the accounting profession is the FASB Codification. Codification content is organized by subject matter in a hierarchy. Think of it as an outline structure that you can drill into to get information regarding your specific topic of interest.  The codification’s hierarchy begins with the following four highest levels: Area. Topic. Subtopic. Section.  As you research, you will drill down in the hierarchy, beginning with the Area of interest, then picking the Topic within the area, then the Subtopic, then the Section. Areas, Topics, and Subtopics are simply landing pages that contain tables of contents. Sections are the only pages that have codification content. For example, if you wanted to research costing inventory, you would drill down by clicking on the following: Assets > 330 Inventory > 10 Overall > 30 Initial Measurement > General > 30-1 Cost Basis. You would then see the detailed codification specific to costing inventory.  Although there are literally thousands of sections within the hundreds of subtopics, once you practice and get used to moving around in the codification, it is easy to research your accounting topics. You may find yourself utilizing it not only for class research, but also for topics you are working on in your professional life and topics that you may simply find interesting.  Note: Once you have drilled down to your subtopic, you may find it useful to click Combine Subsections. This will show the different subsections and their content on one page, allowing you to quickly scan and review areas of interest to you.  The codification is organized within the following nine areas: General Principles. Presentation. Assets. Liabilities. Equity. Revenue. Expenses. Broad Transactions. Industry.  The Industry area identifies 32 industries that have specific items unique to them. These industries range from five different areas of Entertainment to Mining, Financial Services, Airlines, Agriculture, Franchisors, Software, Health Care Entities, and many more.  To complete this assignment, you will need to access the FASB Codification. (Note: A login and password are required to access this site and are available from your professor.)  For this assignment, write a 2–4 page paper in which you:  Select one of the industries that interests you, and briefly explain why. Identify how many subtopics are in the industry you selected. Pick two subtopics within your selected industry that are applicable to a balance sheet (something to do with assets, liabilities, or equity). Identify your chosen subsections by number and title. Explain what they mean in your own words. Identify what accountants in your selected industry might be focused on as an area or areas of concern. This course requires the use of Strayer Writing Standards (SWS). For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions. The specific course learning outcome associated with this assignment is: Examine industry research as it relates to a balance sheet.

The financial statements tell a story about the financial health of a business at a given point in time. The purpose of this is to apply ratio analysis to assess financial health of a publicly held corporation. Use the financial statements identified in the module four case to compute three ratios, one for each of the three following categories Liquidity (solvency), debt service, and profitability. Comment on the ratios by answering the following questions. Go to IBIS, locate a U.S. specialty industry report, which you feel is appropriate for the company you are analyzing. Use the statistics tab to view the ratios. Name the company and show the computation of the three ratios. (2 to 3 sentences) Comment on the purpose and information conveyed by each ratio. (2 to 3 sentences) What did you learn about the company by reviewing the three ratios? (2 to 3 sentences) What is your conclusion about liquidity, debt, and profitability for this company? (2 to 3 sentences) How successful is the company relative to the industry average and leaders in its industry? Indicate the industry and specialty industry report used for comparison. Write two paragraphs or more. Include ratios found in the IBIS database to support your conclusion.

Question:Autonomy was acquired by Hewlett-Packard (HP) in October 2011. The deal valued Autonomy at$11.7 billion (£7.4 billion). Within a year, HP had written off $8.8 billion of Autonomy’s value.With reference to the relevant and appropriate accounting theory, you are required to identifyand critically discuss the main accounting issues relating to this scandal.Word limit (excluding tables, charts, references and appendices): 1,400 – 1700 words.Style and FormatStyle : ReportFont size : 12 (preferably Arial)Line spacing : 1.5 linesReferences : Harvard style

Cost-volume-profit (CVP) can be used to calculate the break-even point. The break-even point is the sales level at which the company does not earn a profit or loss. CVP can also be used to add in an amount of profit (target profit) in the calculation. Costs can either be fixed, variable, or mixed.Include the following in your post:Explain variable costs, fixed costs, and mixed costs.What is meant by the term relevant range?What is contribution margin and how is it calculated?Explain the three methods: the equation approach, the contribution approach, and the contribution margin approach to calculate the break-even point.Present a chart that depicts the four steps that are necessary to develop the CVP chart.What is margin of safety and operating leverage?