Accounting

You have been assigned to analyze the accounting information for a Fortune 500 corporation. From the e-Activity, evaluate which tools you would use to analyze its business processes, indicating your rationale.On the other hand, resources, such as accountants, business analysts, and I/T specialists who rely on documentation tools, will need proper training on these tools. You have been given the responsibility of familiarizing your team with these tools. Evaluate which techniques, in terms of their appropriateness, you would use to get your team ready for its first assignment—the evaluation of a firm’s internal control structure.

As a trainee management accountant, you are supplied with the following information. Sales for October, November, and December are expected to be £200,000, £180,000, and £220,000, respectively. All sales are “on-credit” and a 2% cash discount is given if paid within 30 days. Sales are collected 50% in the month-of-sale and 50% in the following month. Accordingly, one-half of all sales discounts accounted for (on average). Materials are purchased one month before being required, and all purchases and expenses are paid for as they happen. Activities for the quarter are expected to be: October November December Materials used £40,000 £36,000 £44,000 Salaries £70,000 £68,000 £72,000 Maintenance and repairs £18,000 £18,000 £18,000 Depreciation £36,000 £36,000 £36,000 Utilities and other £14,000 £14,000 £14,000 Dividends paid £10,000 Payment on bonds £8,000 £8,000 £8,000 Required: Using the given information, calculate the budgeted net cash flow for November. (30% of the marks) Part B: Browning Ltd. has the following budgeted sales for the selected six-month period: Month Unit Sales June 15,000 July 20,000 August 35,000 September 25,000 October 30,000 November 20,000 There were 7,500 units of finished goods in inventory at the beginning of June. Plans are to keep an inventory of finished product equal to 20 percent of the unit sales for the next month. Three kgs of materials are required for each unit produced. Each kg of material costs £20. Inventory levels for materials equal 30 percent of the needs for the next month. Required: (a) Prepare production budgets in units for July, August, and September. (15% of the marks) (b) Prepare a materials purchases budget in kgs and £s for July, August, and September. (30% of the marks) (c) Briefly explain any criticisms of the traditional budgeting system, and how budgeting relates to “management performance evaluation” 

On January 1, the Matthews Band pays $65,600 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using the straight-line method. Straight-Line Depreciation Choose Numerator: / Choose Denominator: = Annual Depreciation Expense Cost minus salvage ? / Estimated useful life (years) ? = Depreciation expense $ 63,600 ? / 5 ? = $ 12,720 ?

 In particular research the Certified Public Accountant (CPA) and Certified Management Accountant (CMA) certification. What is the difference between the two?Which one is more applicable to Managerial Accounting? Which one is more applicable to Financial Accounting? In your post discuss each of these certifications.

Compare and contrast financial and managerial accounting. Provide one specific, real-life example of how either financial accounting helps external stakeholders make informed decisions or how managerial accounting helps managers to improve operational and financial performance.

develop the following: – Comprehensive business models for Start ups and existing companies – Valuation & funding model for Investors presentation & fund raising – Pro-forma financial statement with multiple case scenarios – Financial statements break even analysis – Charts- Gantt, waterfall, football field, line / bar, scattered etc – Financial modelling & analysis: DCF, LBO, relative val. comparable, waterfall, others – Financial statements: Income statement, balance sheet, cash flow, BRS – Inventory Management: LIFO, FIFO, $Value LIFO, Weighted Avg. – Major KPIs: NPV, IRR, NOI, Margins, multiples and ratio analysis – Custom financial calculators, models, dashboard and summary – Financial plan and feasibility study for start up ventures

The syndicate started experiencing growth at all business units. It culminated in an increase in profit margin. As a market leader, the company started investing cripplingly in other ventures therefore widening its portfolio. Such is a story of a certain thrilling Ghanaian own business. Management thought it wise to employ more labour to beef up the shortfall of their employees. Kofi Antobam was lucky to be employed after several years in search of a white colour job. The opportunity had finally come. As part of his job description, he was expected to canvas for customers and possibly deploy all marketing strategies at his disposal to retain the hard-won customers. Coming from a very strong ethical background, and an orphan as well, he gave out all his best to secure the job for good. Growing up as a Christian, with a strong religious background he tried to respectfully lure customers to patronize the company through all ethical means. Antobam was voted for as the senior staff worker for three consecutive years in a row. The reason being that he was the only customer service person who has been meeting its target. Other workers kept wandering and wanted to know from him the strategies to attain that height. The cold breeze started to blow against the company’s fortunes and the business started growing from bad to worse. Crunch meeting was held and the final decision from management was that some of the workers should be laid off and other departments should be closed down. Customer service was first to be hit. Over 35 customer service personnel were affected and Kofi Antobam has not left out very sad news but a blessing in disguise. Toughness mentality is the only ingredient needed to start this kind of business that Antobam had in excess. He pulled resources together to start his micro finance scheme. He already had a pool of customers and they were ready to transact business with him. He started with no funds but a year later he was having a profit of 5000 Ghana Cedis and plough back into the business and started issuing out loans and that was his breakthrough from grass to grace.Your answer should be based on the case study.Question 1In your opinion do you think Antobam is an entrepreneur or not. Justify your submission with an underlined concept.      (100 words) 15 marks.Question 2What could be the possible options available to Antobam if he decides to own a business?

IFRS allows a remeasurement of certain assets to fair value through a revaluation method. This increase is recorded as part of a revaluation surplus account, which bypasses the income statement and, therefore, does not affect net income. Do you think this is an appropriate method? Why should investment property increases affect net income as opposed to PP&E? Explain your position whether you agree or disagree with the accounting treatment for revaluation surplus.

Please analyze “The Goal” by Eliyahu Goldratt. The paper should discuss about what have been learned about management accounting from the book. Also, discuss opinions and concepts presented in the book. Thought process and writing efforts are crucial.

in this assignment, you will demonstrate your mastery of the following course outcomes: ? Record financial data and adjusting entries in the preparation of a business’s financial statements Prompt In a professional relevance essay, draw connections between the accounting principles that you demonstrated in Final Project I and their specific, practical applications within your own professional practice. Specifically, you must address the critical elements listed below. Most of the critical elements align with a particular course outcome (shown in brackets). I. Introduction: Briefly describe your current or aspiring professional identity, including the field in which you work or hope to work. To what extent does (or will) financial accounting play a role in your day-to-day professional life? [ACC-201-01] II. Draw Connections A. In the first part of your final project, you recorded various transactions in the life of a business. Now, consider your current or future professional life: What sort of transactions would you encounter in your field? Describe at least three using specific details. [ACC-201-01] B. Analyze the relationship between those transactions and the success of your current or future business. For example, how would each transaction impact the income statement and balance sheet of your company? Illustrate your claims using specific examples. [ACC-201-01] 1 III. Apply to a Scenario: Imagine that you are the new department manager of a corporation within your chosen field: You discover that your predecessor had been using the cash basis of accounting, which has resulted in many errors and misinformation. What measures would you take to remediate the issue? Propose a high-level plan to implement a proper accounting system for your department using specific principles discussed in the course. For example, which financial statements would you investigate first? What sort of internal controls would you implement? [ACC-201-01]