Accounting

Instructions Tasks: 1. Using Amazon.com as an example, prepare a collaboration sales activity model. 2. What is the difference between an online process and a traditional brick-and-mortar store process? Grading Rubric: 4 points – prepared a well-reasoned collaboration sales activity model using BPMN. 2 points – prepared a well-reasoned analysis that articulates the difference between an online process and a traditional brick-and-mortar store process.

REMINDER:  At the end of the semester you are required to write a five to six page report summarizing all the concepts of IFRS and international accounting issues as they relate to your selected MNC. IT IS NOT A 10K SEC PROJECT REPORT. This report is to be written in your own words and double spaced.  What you are being asked to do is to capture the experience of the research that you did on your selected MNC.  DO NOT quote from sources; just write what you learned about your MNC.  I do not expect APA style re format or references.  It’s just an essay; look at your report as if you were telling the reader a story.   Also, make sure that you include in your summary if you enjoyed the research and anything extra you may have learned about your MNC because of the research.

Peter and Maria Williams live in Miami, Florida, and have hired your Group to prepare their income tax for the taxable year 2019. Read carefully the following personal and financial information supplied by the William’s family and prepare an Excel spread sheet to answer the questions and requirements shown at the end on page four. (See Attachment)    Personal information is as follows:   Peter Taxpayer               Married               Filing Jointly             DOB 6/30/1961                            Maria  Wife               Does not work             Full time Student             DOB 12/31/1966                          John Son               Full time Student             DOB 6/15/2002             Lived with the taxpayer from 06/05/2019 to 12/31/2019 Peter pays more than 50% of his support expenses                         Paula     Friend               No full time Student             DOB 1/20/1995             Lived with the taxpayer from 01/01/2019 to 12/31/2019                    Carlos Peter’s Father             DOB 6/1/1933             Retired               Carlos lives in Denver, CO.           Peter contributes with 55% of his Father’s support                        Peter is currently working with “ABC” corporation         Peter lost his former job and got unemployment payments      Peter paid alimony to his ex-wife                           All in Peter’s family are USA citizens            Peter has a small business he personally runs in his free time Financial information is as follows:           W-2 From his employer     Wages, tips, other compensation   105,000 Federal income tax withheld   17,850 Social security tax withheld (complete this information)   ? Medicare tax withheld (complete this information)   ?       1099-M received from his customers     Accounting Consultant fees received   45,000     Self-Employee Business Activity Reported     Sales   675,000 COGS   268,000 Expense – W-2 Wages paid to their employees   81,800 Expense – Office supplies for business   32,400 Expense – Office Rent paid for business   60,300 Business Property and Equipment   650,000     Other Income and/or Expenses     Unemployment Received   1,600 Alimony Paid   1,250                 Medical Expenses   47,000 Health insurance premiums shown on Peter’s W-2       for Peter, Maria, John, Paula & Tim ($5000 each person) 20,000   Peter’s father’s Dental Treatment 12,500   Prescribed glasses for Maria’s father who lives in NY 650   Medical co-pays for Peter’s wife 350   Peter’s Lab Exams that were not covered by his health insurance 500   Peter’s esthetic plastic surgery to repair a nose problem due to an accident 6,000   Insurance reimbursed 60% of the nose Plastic surgery ?   Maria’s plastic surgery to remove fat excess from her belly 7,000               Mortgage payments and Tax for a Home bought on 06/01/2018 for $745,000   25,600    Principal Paid 10,000      Interest Paid 12,000      Home property State tax Paid 3,600           Mortgage payments and Tax for a Home bought on 06/01/2018 for $745,000   25,600    Principal Paid 10,000      Interest Paid 12,000      Home property State tax Paid 3,600     Other Personal Expenses   23,090 Utilities paid (Home) 4,000   Groceries 5,000   Cable, cell, and internet 1,440   Condominium Association’s Due 2,000   Gas and personal vehicle maintenance 1,600   Home improvements 2,600   A/C and Home Repairs 5,000   Credit card interest (personal) 750   Sales Tax paid 700     Loan Payments for Maria’s Education   8,300    Principal 6,500      Interest 1,800     Donations   28,000    Land donated to” XYZ” Church  25,000      Cash Donated to a needed family who attends your church 3,000         Hurricane Casualty loss – Florida is Federally declared a Disaster Area        Appraisers determined that 60% o the home was destroyed        Appraisers used the Home appraised tax value to determine the loss 575,000      Insurance reimbursed 87.5% of the loss ?         Taxpayer pays for his vehicle   2,600    Principal 1,500      Interest 1,100         Rental of vacation Home – information          It was used 30 days for family’s vacations.          The Williams’ live in the city the rest of the year          Vacation home rented for 150 days 15,000        They paid real estate taxes on the vacation home 2,400         Utilities were paid at $150/month 900         Mortgage interest paid to Citibank 4,800         Six months Depreciation 1,200         You Are Required to: The Williams require you to determine the following as of December 31, 2019:   Determine Social Security and Medicare that should appear in the W-2 form Self-Employment tax. If any, apply the Social Security Tax only to the maximum amount required Adjusted Gross Income Taxable Income after Total number of dependents Amount and detailed calculations of the Standard or Itemized deduction as the case may be Determine any carryover and/or carryforward that applies for any concept Determine the Qualified Business Income Deduction if applicable Determine their Payable or Refundable Tax, disregarding all possible credits the Williams might be entitled to.

VENDOR ANALYSIS PROJECT: 1. Pick a product and tell me about it. Any product other than a book is acceptable. 2. List two direct materials contained in your product. In this requirement you need only list two direct materials in your chosen product. If you have difficulty identifying two direct materials, you will likely want to pick a different product. 3. Tell me why you think the 2 items noted in requirement 2 are direct materials. 4. Identify thee items of factory overhead in your product. For this requirement you need only list the three items. 5. Tell me why you think the 3 items are part of factory overhead in your product. 6. Search the web and locate 3 vendors that supply the direct materials listed in requirement 2. Requirement 6 should only list the vendors. For example, if one of your direct materials is aluminum, your three vendors might be Kaiser, Alcoa, and Reynolds. 7. Look at the vendor cost for your direct materials and identify the low cost provider for each direct material. For this requirement I want to see a detailed cost analysis and comparison of the 3 vendors of the three direct materials. 8. Based on your low cost provider, how much will one of your finished units cost for the three elements of direct materials.VENDOR ANALYSIS PROJECT: 1. Pick a product and tell me about it. Any product other than a book is acceptable. 2. List two direct materials contained in your product. In this requirement you need only list two direct materials in your chosen product. If you have difficulty identifying two direct materials, you will likely want to pick a different product. 3. Tell me why you think the 2 items noted in requirement 2 are direct materials. 4. Identify thee items of factory overhead in your product. For this requirement you need only list the three items. 5. Tell me why you think the 3 items are part of factory overhead in your product. 6. Search the web and locate 3 vendors that supply the direct materials listed in requirement 2. Requirement 6 should only list the vendors. For example, if one of your direct materials is aluminum, your three vendors might be Kaiser, Alcoa, and Reynolds. 7. Look at the vendor cost for your direct materials and identify the low cost provider for each direct material. For this requirement I want to see a detailed cost analysis and comparison of the 3 vendors of the three direct materials. 8. Based on your low cost provider, how much will one of your finished units cost for the three elements of direct materials.

With more businesses operating internationally, there is potential for these businesses to seeking capital in foreign markets, as they set up shop overseas. Do you think it is in company’s best interests to follow a single, worldwide set of auditing standards? Is it worth the migration? Do you think the public would care about this?

Select another accounting scandal (Enron, Tyco, Adelphia, AOL, Global Crossing, etc.). 1. Describe two or three ways in which the WorldCom scandal was similar to other accounting scandals. 2. In what significant ways were the scandals different?

Note: The discussion activity is based on Exercise 15.2, External Financial Reports and Globalization, on pages 709–710 of the textbook. 1. Choose a publicly traded global company that you think you might want to invest in some time in the future. 2. Search the Internet—including the company’s own website—for information about the company, and access its annual report. 3. In Discussion Forum 2, post your response to the following questions. Please title your posting “Exercise 15.2/[Your Name].” Read and comment on your classmates’ postings. a. In which geographical regions does the company operate? b. What is the proportion of total sales represented by foreign sales? How has this changed over the past 5 to 10 years? c. What efforts has the company recently undertaken to increase or decrease globalization (e.g., joint ventures, licensing agreements)? d. What are the company’s hedging practices and policies? e. Have any overseas activities been unsuccessful, discontinued, or resulted in asset losses? If so, what happened? f. Overall, how aggressively do you feel this company is pursuing globalization?

Find and photograph 2 examples of communication practice. What is the communication event? Describe what is happening. How would you describe the type of communication occurring in these events? What media are involved? Hot? Cold? Write 100 words on each example. Upload the 2 pictures of your examples

For Book access: The book is Horngren’s accounting 12th edition. If you have it great if not here are steps to access my copy. go to student.ashford.edu Login info: JUVEDD6486 Cheyanne10 once in go to modules and under week 2 you will see resources click on it. once there you will see a place to click for the book. Keep These separate when typing them up. Put the proper reference under the proper discussion not at the end. Discussion 1: Prior to beginning work on this discussion, read Chapter 3 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional). Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate. What are adjusting entries and why are they made? Explain your statements. Give an example of an adjusting entry for each of the four major groups of adjusting entries. Your journal entries for each of the four types should include two entries. The first entry will establish the account and the second entry will adjust the account. Discussion 2: Prior to beginning work on this discussion, read Chapter 4 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional). Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate. Describe the year-end closing process. What are the four steps in the closing process? Provide an example journal entry for each. What is the difference between temporary and permanent accounts?

Pick a large company that does business in your community and view their financial results. For the most recent year, list the amounts reported for sales, cost of goods sold, and total net income. Does the amount reported for revenue represent cash received from customers during the year? If not, what does it represent? Is your company a profitable company? How can you tell? FYI: Please see below my company choice The Large company in my area I choose to pick is Philadelphia Gas Works (PGW). I would like my topic to be used for this company. If that is a problem you can use Peco energy that is an electric company in Philadelphia on 2301 Market street. Either one of these to company’s will be great