Accounting

You must answer all the questions in the proposed business case.Formalities:Submission file format: Excel document with all the answers, clearly identifying all steps, results, journals and including comments besides each answer. Submission date: The assignment must be submitted on Turnittin no later than 20th January at 23:59 CEST.It assesses the following learning outcomes:• Critically understand the different unusual events that affect the retained earnings. • Knowing how to elaborate an income statement • Knowing how to properly elaborate a statement of cash flow.Part 1: changes in retained earningsChester is a company dedicated to the transports.On 1st of March 2019, Chester sells its unprofitable segment, a restaurant activity.This segment generated in 2019 a net loss of $92,000 and its assets sold at a loss of $80,000.On 1st of May 2019, an earthquake destroyed one of Chester’s offices. The company suffered a loss of $230,000.On 31st of December 2019, the board of managers decides to change the depreciation method from straight line to 200% declining balance method for the fleet of trucks acquired the 1st of January 2016.The effect of the change is an additional expense of $96.000For the while year 2019 Chester reported an income from continuing operations of $1,950,000.Applicable tax rate is 30%.Chester had 200,000 shares of capital stock outstanding throughout the yearQuestion 1: Prepare a condensed income statement including proper presentation of the discontinued restaurant operations and the extraordinary loss. Include all appropriate earnings per share figures. (50 points)Part 2: Statement of cash flowsShown below is information from the financial statements for 2019 of Robbe’s Inc:Accounts Beginning of the year End of the year Accounts receivable $139.000 $100.000 Inventory $160.000 $150.000 Prepaid expenses $12.000 $21.000 Accounts payable $101.000 $97.000 Accrued liabilities $32.000 $30.000 Net sales $1.272.000 Cost of the goods sold $637.000 Expenses (inlcuding depreciation of € 68,000) $302.000

Question 3: Explain why net income is different from the net cash provided by operations. (10 points)RubricsDescriptor 9-10 The student demonstrates an excellent understanding of theconcepts. 8-8.9 The student demonstrates a good understanding of the concepts. 7-7.9 The student demonstrates a fair understanding of the concepts. 6-6.9 The student demonstrates some, but insufficient understanding of theconcepts. 3-5.9 The student demonstrates insufficient understanding of the concepts.They may mention some relevant ideas or concepts, although it is clear that the relationship between them is not understood by the student.1-2.9 The student demonstrates insufficient understanding of the concepts and does not mention any relevant ideas or concepts.0 The student leaves the question blank or cheats.95% of the grade based on the approach, calculations and comments, and 5% based on the presentation and look & field of the spreadsheet. Points are at the end of each question.

FASB CodificationThe 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.

Research the generic substitution laws in the state where you live or intend to seek employment, and then address the following:In your initial post, indicate which state you researched, and then answer the questions below. Kansas should be the state.Do you think your state’s laws make it easier or harder for patients to obtain less expensive generic alternatives? Provide the rationale for your opinion, referencing your state’s law if applicable.Aside from generic medications, what are some other ways pharmacies can help patients save on costs?

For this assignment you will submit a draft of the revenue recognition and accounting methods, summarizing the following critical elements: I. Memorandum, sections B, C, and D, and II. Conclusion, section C.You will determine revenue recognition and the economic impact of the client’s financial situation. Based on your decision, determine the potential tax liability, keeping in mind appropriate Internal Revenue Code and Treasury regulations. Submit this assignment as a Word document.As you are working through the cash/accrual and inventory issues this week for Milestone 2 please consider how the Tax Cuts and Jobs Act of 2017, generally effective for tax years beginning in 2018, has changed the rules.Here are links to articles from the Journal of Accountancy and Tax Advisor that summarizes changes to tax accounting for cash/accrual and inventory.

Describe the organization’s environment, and evaluate its preparedness for virtualization.• Explain Microsoft (or another product) licensing for virtualized environments.• Recommend a configuration for shared storage; make sure to discuss the need for high availability and redundancy for virtualization for the organization.• Explain Windows Azure capabilities for virtual machines and managing a hybrid cloud, including Windows Azure’s Internet as a Service (IaaS) and storage capabilitiesMake a recommendation for cloud computer use in the organization, including a justification for your recommendations.Submit your research paper as a single document. Your paper should meet the following requirements:• Be approximately 2-4 pages in length, not including the required cover page and reference page.• Follow APA6 guidelines. Your paper should include an introduction, a body with fully developed content, and a conclusion.

Answer the problems in the file below:  Cost Accounting Case StudyPart One: Submit all answers in a single Excel filePart Two: Create a narrated PowerPoint presentation to your client, summarizing your analysis and recommendations. The narration should thoroughly reflect the logic of your analysis and will be evaluated based on the quality of this “oral” presentation. (See the week 4   instructions on how to prepare a narrated Powerpoint presentation).

With the recent worldwide pandemic leading to people working remotely, this presents an opportunity to change how work is performed. Something to consider is potential taxation issues. Whether people move around domestically, or internationally, what do you think are some tax considerations people should take if they are able to work remotely?

https://www.ted.com/talks/chris_mcknett_the_investment_logic_for_sustainability?source=email#.VGS_pxLLkKF.email Watch the Investment Logic for Sustainability video. Then perform a few internet searches on terms such as the following: Sustainable funds Socially responsible investing ESG Environmental, social, and corporate governance Using resources found in your internet searches, as well as your module resources, respond to the following questions: What is sustainable investing? Do you think investors should be concerned with ESG? Do you think ESG investments can perform better than non-ESG investments? Why or why not? What type of socially responsible fund would you invest in? Why? When replying to your classmates, you may disagree with them, but it must be done in a respectful and polite manner. Use APA-style citations.

Managerial Accounting Course: The paper itself has to deal with: Restoring Trust after Fraud or Management Failures. Thus you have to embark on the research task by investigating some of the prominent issues relating to Corporate Governance and Accounting Scandals or Evidence of deliberate Deceptions or Corruptions. Examples of how to frame your Research Topic: Restoring Trust after Fraud: The Case of——————–