Accounting

The Annual Report Project will be completed in sections over the duration of this course. You will submit each section individually, as assigned, and then submit the completed comprehensive assignment in Topic 8. Obtain the most recent Form 10-K of a U.S. corporation traded on the New York Stock Exchange (NYSE) or National Association of Securities Dealers Automated Quotations (NASDAQ). The corporation must sell a product and carry inventory on its balance sheet. You can access public company Form 10-K reports on your specific company’s website under Investor Relations. For Section 1 of the Annual Report Project, prepare a professionally written summary of 250-500 words. Include the following in your submission: Provide an overview of the company you have chosen. What business is it in? What does it sell? Who are its competitors? In what geographical areas does it conduct business? Discuss any cyclicality associated with its product sales. Include any other items relevant to this particular business or its industry. Locate a press release or article on the company you chose. What was the press release regarding and why is it significant for the company? Focus on any current or future financial implications. What did the article state about the company and how might the information in the article influence the company’s financial performance in the future? You are required to integrate at least two academic sources in the summary. Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required. Refer to “Annual Report Project – Section 1 Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance. 

Effective financial reporting depends on sound ethical behavior. Financial scandals in accounting and the business world have resulted in legislation to ensure adequate disclosures and honesty and integrity in financial reporting. A sound economy is contingent on truthful and reliable financial reporting. Instructions: Read the following scenario. Answer the questions that follow. This will be a 2-3 page submission in a question and answer format (also in paragraph form). An introduction and conclusion are not required. Refer back to your textbook for guidance on how to think through the scenario. You have been recently hired as an assistant controller for XYZ Industries, a large, publically held manufacturing company. Your immediate supervisor is the controller who also reports directly to the VP of Finance. The controller has assigned you the task of preparing the year-end adjusting entries.  In the receivables area, you have prepared an aging accounts receivable and have applied historical percentages to the balances of each of the age categories.  The analysis indicates that an appropriate estimated balance for the allowance for uncollectible accounts is $180,000.  The existing balance in the allowance account prior to any adjusting entry is a $20,000 credit balance. After showing your analysis to the controller, he tells you to change the aging category of a large account from over 120 days to the current status and to prepare a new invoice to the customer with a revised date that agrees with the new category.  This will change the required allowance for uncollectible accounts from $180,000 to $135,000. Tactfully, you ask the controller for an explanation for the change and he tells you “We need the extra income, the bottom line is too low.”Required: In a 2-3 page paper, discuss the following: Consider what you have learned relative to ethics and financial reporting. What is the rationale for the calculations/process used to estimate the $180,000 uncollectible allowance? How do you think the misstatement of funds will impact the income statement and balance sheet? What is the ethical dilemma you face? What are the ethical considerations? Consider your options and responsibilities as an assistant controller. Identify the key internal and external stakeholders. What are the negative impacts that can happen if you do not follow the instructions of your supervisor? What are the potential consequences if you do comply with your supervisor’s instructions? Who will be negatively impacted? All questions must be answered in the paper. Paper 2-3 pages with references. 

You have been assigned to train new consultants on the impact of the Sarbanes-Oxley Act of 2002 on financial reporting. Prepare a 12-15 slide PowerPoint presentation for use in a training session with the new consultants. Include an explanation of what the Sarbanes-Oxley Act is. Include an explanation of the impact it has on the financial reporting of publicly-traded companies. Include at least 2 properly formatted references. Prepare a Word document that includes the notes from the slides that you can use as a handout during the presentation. Use proper APA format for the Word document. Please submit your assignment.

Variance Analysis: Write an analytical summary of your learning outcomes from chapters 9 and 10. In addition to your analytical summary, address the following: As a manager, discuss how you would use or have used the concepts presented in chapters 9 and 10. Why might managers find a flexible-budget analysis more informative than static-budget analysis? How might a manager gain insight into the causes of flexible-budget variances for direct materials, labour, and overhead? Provide at least one numerical example to support your thoughts.

” I don’t understand this Accounting question and need help to study. In this Assignment, you will learn more about the career of interest to you, by presenting your findings to your instructor and prospective students. This Assignment will help you to develop skills necessary for career development and job performance. Given the outcome of […]

Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $4.80 per Ib.)$144.00Direct labor (6 hrs. @ $14 per hr.) 84.00Factory overhead—variable (6 hrs. @ $7 per hr.) 42.00Factory overhead—fixed (6 hrs. @ $9 per hr.) 54.00Total standard cost$324.00 The predetermined overhead rate is based on a planned operating volume of […]

Historical demand for a product is: a. Using a weighted moving average with weights of 0.40 (June), 0.20 (May), and 0.40 (April), find the July forecast. (Round your answer to 1 decimal place.) July forecast b. Using a simple three-month moving average, find the July forecast. (Round your answer to 1 decimal place.) July forecast […]

Question 1 Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 210,000 Purchases of raw materials $ 266,000 Direct labor ? Administrative expenses $ 159,000 Manufacturing overhead applied to work in process $ 372,000 Actual manufacturing overhead cost $ […]

part A part b Elegatn Décor Company Forecasted annual income statement Under plan to eliminate Department 200 Particulars Amount Sales $4,36,000.00 Cost of goods sold $2,62,000.00 Gross Profit $1,74,000.00 Operating Expenses: Advertising $17,000.00 Store supplies used $4,000.00 Depreciation – Store Equipment $8,300.00 Sales Salaries $67,600.00 Rent Expense $14,160.00 Bad debts expense $9,900.00 Office salary $15,600.00 […]

Cherokee Inc. is a merchandiser that provided the following information Required: Prepare a traditional income statement. Prepare a contribution format income statement. Expert Answer 1. Traditional Income Sttement Sales (20,000X30) 600000 Cost of goods sold (24,000+180,000-44,000) (160,000) Gross margin 440,000 Selling and administration expenses: Selling expenses ( 20,000X4)+ 40,000 120,000 administrative expenses (20,000X2)+30,000 70,000 (190,000)   Net operating […]