Accounting

I would like to search on non profit organization in canada, simple language, plirigisam  free! Word or Excell file!  I would like you to find a non-profit organization (governmental or private) and perform an assessment of the operations. This can be an organization that you currently work with, or you can just do online research. Beyond defining the organization, I would like you to dig deeper and develop a case analysis based on the following questions:What are the characteristics of this organization that you feel are important? How you would evaluate management performance given the priorities of the organization? I would like you to present your answer in the standard format for cases detailing the five different sections.The standard format for cases that we will be using for this course is as follows:Executive Summary: This is the “report in short”. Give the essential information in no more than one page. If you are delivering a report to a senior manager, this section will tell that manager the essence of your report.Introduction & Background: This is where you identify the key issues that are being addressed and some of the background information that will come from analyzing the situation internally and externally. This is where you can use tools such as SWOT and PESTE to give a really clear picture of what the problem is, why the problem exists and develop the foundations for your alternatives.Alternatives: This is where you will give options to the key issues. In this section you should develop the Key Decision Criteria (KDC) to determine how you will come to a single alternative that will become part of your recommendation. The KDC should be short, measureable and relate to your problem. By doing the KDC, you will find the further analysis becomes easier. Further analysis should have an in depth coverage of the pros and cons of each alternative that connect to the background information. This is where you can provide in depth qualitative and quantitative analysis using tables and appendices.Recommendations: This is the ultimate objective of the analysis, what you have determined the best course of action is going to be.Implementation: This will tell the senior manager how and when objectives will be implemented to achieve the recommendations.

Briefly describe an organization with which you are familiar. Describe a situation when a manager in that organization could use cost behavior information and how the manager could use the information. Compare discretionary fixed costs to committed fixed costs. Think of an organization with which you are familiar. Give two examples of discretionary fixed costs and two examples of committed fixed costs which that organization may have. Explain why the costs you have chosen as examples fit within the definitions of “discretionary fixed costs” and “committed fixed costs.”

This Competency Assessment assesses the following outcome(s):AC116M2: Answer each question by writing the calculation using complete sentence. Analyze the valuation and disclosure of liabilities in financial statements. Write each calculation in a complete sentenceLiabilities are debts of the business, and it is necessary to effectively manage them to protect the company. Companies have current assets that are due within one year and long-term assets due beyond one year. It is imperative that companies do not take on more obligations than they can handle, so understanding the impact they have on the accounts is essential. Accounting for liabilities affects the balance sheet and profitability of the company.10 Questions:(1).Sonoma Company has the following selected accounts after posting adjusting entries:Accounts Payable                                      $62,000   Notes Payable, 3-month                                40,000   Accumulated Depreciation—Equipment        14,000   Notes Payable, 5-year, 6%                        80,000   Payroll Tax Expense                                  4,000   Interest Payable                                          3,000   Mortgage Payable                                      120,000   Sales Taxes Payable                                38,000   Prepare the current liability section of Sonoma Company’s balance sheet, assuming $16,000 of the mortgage is payable next year. (For Notes Payable enter the account name only and do not provide any additional descriptive information e.g. due 2017, 5 Months.)Calculate the following: Notes Payable, Interest Payable, Accounts Payable, Sales Taxes Payable, Salaries and Wages Payable(2). Faulkner Company has the following selected accounts after posting adjusting entries:Accounts Payable                              $45,000Notes Payable, 3-month                    70,000Accumulated Depreciation-Equipment            14,000FICA Taxes Payable                        27,000Notes Payable 5-year,8%                    30,000Warranty Liability                                29,000Payroll Taxes Expense                          6,000Interest Payable                                  3,000Mortgage Payable                                      200,000   Sales Taxes Payable                            16,000   Prepare the current liability section of Faulkner Company’s balance sheet, assuming $25,000 of the mortgage is payable next year. (For Notes Payable enter the account name only and do not provide any additional descriptive information e.g. due 2017, 5 Months.)Calculate the current liabilities:  Accounts Payable, Notes Payable, Interest Payable, Sales Taxes Payable, Warranty Liability, FICA Taxes Payable(3). On December 1, Cypress Grove Company introduces a new product that includes a one-year warranty on parts. In December, 500 units are sold. Management believes that 5% of the units will be defective and that the average warranty costs will be $60 per unit.Prepare the adjusting entry at December 31 to accrue the estimated warranty cost. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)Identify December 31. Account titles and Explanation by Calculating the Warranty Expense and Warranty Liability(4). Blalock Company sells products with a 2-year warranty. Past experience indicates that 2% of the units sold will be returned during the warranty period for repairs. The average cost of repairs under warranty is estimated to be $75 per unit. During 2014, 7,000 units were sold at an average price of $400. During the year, repairs were made on 55 units at a cost of $3,600.Calculate the journal entries to record the repairs made under warranty and estimated warranty expense for the year. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)By calculating the Warranty Liability and Repair Parts by cost of honoring 55 warrantiesWarranty Expense and Warranty Liability by accrue estimated warranty costs on 140 warranty contracts(5). Maddy Peters’s regular hourly wage rate is $14, and she receives an hourly rate of $21 for work in excess of 40 hours. During a March pay period, Maddy works 47 hours. Maddy’s federal income tax withholding is $80, and she has no voluntary deductions. The FICA tax rate is 7.65%.Compute Maddy Peters’s gross earnings and net pay for the pay period. (Round answers to 2 decimal places, e.g. 15.25.)Calculate the Gross Earnings and Net Pay(6). Maddy Peters’s regular hourly wage rate is $14, and she receives an hourly rate of $21 for work in excess of 40 hours. During a March pay period, Maddy works 47 hours. Maddy’s federal income tax withholding is $80, and she has no voluntary deductions.Prepare the journal entry to record Maddy’s pay for the period. Use March 15 for the end of the pay period. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)Prepare the  March 15th Account Titles and Explanation by caculating Salaries and Wages Expense, Federal Income Taxes Payable, FICA Taxes Payable Salaries and Wages Payable.(7). In February, gross earnings in Napoli Company totaled $75,000. All earnings are subject to 7.65% FICA taxes, 5.4% state unemployment taxes, and 0.8% federal unemployment taxes.Prepare the entry to record February payroll tax expense. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)Calculate the Payroll Tax Expense, FICA Taxes Payable, Federal Unemployment Taxes Pay, State Unemployment Taxes Payable(8). Employee earnings records for Oz Company reveal the following gross earnings for four employees through the pay period of December 15.T. Tucker        $ 105,700        D. Paiva        $125,700B. Bitney        $124,400                N. Doane        $128,200For the pay period ending December 31, each employee’s gross earnings is $4,800. The FICA tax rate is 7.65% on gross earnings of $127,200.Compute the FICA withholdings that should be made for each employee for the December 31 pay period. (Round answers to 2 decimal places, e.g. 52.75.)Calculate the FICA withholding for each: T. Tucker, B. Bitney, D. Paiva, N. Doane(9). If a 7%, 10-year, $800,000 bond is issued at face value and interest is paid annually, what is the amount of the interest payment at the end of the first year period?Calculate the Interest Payment(10). If the Bonds Payable account has a balance of $900,000 and the Discount on Bonds Payable account has a balance of $120,000, what is the carrying value of the bonds?Calculate the Carrying value of the bonds

Reflecting on the Master budget, what’s the difference between the Operating and Financial budget?

Thank you for those insights on business forms. I would like to add that at times when a business is started the founders are not really sure how to structure it, so, they may just go with the default partnership or LLC, however our tax laws at the federal level do allow LLCs to make an election to be treated as a regular Corporation or an S-Corporation. Thanks for sharing.Class, Why would business owners/founders prefer to establish the S-Corporation instead of the C-Corporation form of business?

Forms of BusinessThere are many forms of businesses, such as a sole proprietorship, partnerships, corporations, and limited liability corporations. Partnerships are formed to pool together talent and individuals’ money. Partnerships have many tax benefits, including the partnership not being taxed; the net income flows directly to the partner’s individual tax return.What are the characteristics of a partnership?What types of partnerships are there?How are partnership profits allocated and taxed?Why are partnerships different than a limited liability company or an S corporation?

Discussion RequirementsReview the Statement of Cash Flows for your chosen company ( Johnson and Johnson)  and provide a brief description of what you discover for each of the items listed below. ( 10-K form attached for information)Category: Operating Activities1.    Net income versus total for operating activities: Report these values.2.    What are the items of significance between net income and total for operating activities?3.    Is the business providing cash flow from operations?Category: Investing and Financing Activities1.    Describe significant long-term assets (type and amount) purchased, sold, or retired during the current period as well as last year.2.    Describe significant financing activities used by the corporation to increase cash (or other assets): These would be related to long-term liabilities and stockholders’ equity.Category: Analysis1.    Overall Cash Flow (total of three sections): Compare this year to last year.

FASB ASC 13-1 Initial Direct Cost Incurred by the LessorSearch the FASB ASC database to address the following questions. For each question, copy and paste your research findings and then write a short summary of your response to each question. Remember to cite your research findings.A.        How does the FASB define initial direct cost associated with leasing?B.        How do lessors account for initial direct costs incurred for a sales-type lease?C.        How do lessors account for initial direct costs incurred for an operating lease?

Discuss consolidation concepts and procedures, including those used for wholly-owned subsidiaries and less-than-wholly-owned subsidiaries.Examine ownership and control from an accounting standpoint.Analyze consolidation procedures, including the cost and equity-method, direct and indirect control, combined financial statements, elimination of intercompany transactions,differentials, push-down accounting, other comprehensive income, and variable interest entities.Discuss the limitations of consolidated financial statements.

Prior to beginning work on this discussion, read the 2017 Sarbanes Oxley Compliance Survey (Links to an external site.) from Protiviti consulting firm, and the Section 302: Corporate Responsibility for Financial Reports (Links to an external site.) and Section 404: Management Assessment of Internal Controls (Links to an external site.) from the SOX website. Although it has been over a decade since the enactment of the Sarbanes-Oxley Act (SOX) of 2002, the majority of executives and other professionals agreed, in the above-mentioned survey by the Protiviti consulting firm, that internal control over reporting structure in their organizations has significantly or moderately improved since compliance with the legislation became a requirement.For your initial post of at least 200 words, visit the Journal of Accountancy (Links to an external site.), click the Financial Reporting tab, and select Internal Control. Select an article on Internal Control over Financial Reporting, and discuss why compliance with SOX Sections 302 and 404 is still a subject of ongoing interest.