Accounting

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. 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?

This week’s required readings explain the role that analytics plays in the modern business environment. Consider the following questions and respond in a minimum of 175 words:·  How is data analytics different from statistics?·  Analytics tools fall into 3 categories: descriptive, predictive, and prescriptive. What are the main differences among these categories?·  Explain how businesses use analytics to convert raw operational data into actionable information. Provide at least 1 example.·  Consider the organization you work for (or another organization you’re familiar with). Does this organization use data analytics? If so, how is it used? If not, how could the organization use data analytics to improve its performance?

It is common industry knowledge that an audit plan provides the specific guidelines auditors must follow when conducting an external audit. External public accounting firms conduct external audits to ensure outside stakeholders that the company’s financial statements are prepared in accordance with generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS).  Use the Internet to select a public company that appeals to you. You may also use the company dossier in the Nexi Uni database to find company information. Imagine that you are a senior partner in a public accounting firm hired to complete an audit for the chosen public company. Write a 4–6 page paper in which you: Outline the critical steps inherent in planning an audit and designing an effective audit program. Based upon the type of company selected, provide specific details of the actions that the company should undertake during planning and designing the audit program. Examine at least two performance ratios that you would use in order to determine which analytical tests to perform. Identify the accounts that you would test, and select at least three analytical procedures that you would use in your audit. Analyze the balance sheet and income statement of the company that you have selected and outline your method for evidence collection which should include, but not be limited to, the type of evidence to collect and the manner in which you would determine the sufficiency of the evidence. Discuss the audit risk model and ascertain which sampling or non-sampling techniques you would use in order to establish your preliminary judgment about materiality. Justify your response. Assuming that the end result is an unqualified audit report, outline the primary responsibilities of the audit firm after it issues the report in question. Use the Strayer Library to locate at least two quality academic resources in this assignment. Note: Wikipedia and other similar websites do not qualify as academic resources. Your assignment must follow these formatting requirements: This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow SWS or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Identify the factors that influence the amount of cash/bank balances an organization will hold at any one time. You will need to consider the following questions.  Why do organizations hold some of their assets in the form of cash? What are the costs of holding too much cash? What are the costs of having too little cash? To what extent are the reasons for holding cash similar to those for holding stock? I have included 2 examples that you can use and reword please do not just copy these.

Prior to beginning work on this discussion, read Drakopoulou’s article A Review of Fundamental and Technical Stock Analysis Techniques (Links to an external site.) from the Journal of Stock and Forex Trading (2015). Review the financial statements for one publicly traded company, such as Apple Inc. (NASDAQ: AAPL), General Motors (NYSE: GM), Sony Corp (NYSE: SNE), International Business Machines (NYSE: IBM), Microsoft Corp. (NASDAQ: MSFT), American Airlines Group Inc. (NASDAQ: AAL), or Amazon.com (NASDAQ: AMZN)). The financial statements may be found at EDGAR | Company Filings (Links to an external site.). Enter the company’s stock ticker in the Fast Search box, Enter 10-K in the Filing Type box, and click on the latest 10-K. If you wish, you can save the whole 10-K report to your computer. After examining the financial statements of your selected publicly-traded company, refer back to the article A Review of Fundamental and Technical Stock Analysis Techniques (Links to an external site.). Assume you are a daily equities trader with an actively traded equity portfolio. In your initial post of at least 200 words, Discuss the differences between fundamental analysis and technical analysis techniques you will employ to select the stock of your preferred publicly traded company. Dive deeper into the details of how these two approaches differ, the criticism against technical analysis, and how technical and fundamental analysis can be used

You have learned this term that it is important to understand the cross-cultural psychology literature on national and ethnic cultures and on the management literature on culture in organizations. Of major concern to the global organization is the impact of environmental sensitivity – culture and subculture. Climate change opinion varies by country on many levels, economic, political, legal, and social to name a few. Evaluate how cross-cultural cultural issues associated with environmental sensitivity can be a source of competitive advantage. Also, consider the impact: does it only represent a cost to an organization? How will global organizations adapt as concerns about the natural environment increase? Your paper should synthesize theories and concepts and demonstrate how you can apply them in your analysis and evaluation of this topic.  You may also use these Internet sources: http://www.geog.ox.ac.uk/research/climate/projects/undp-cp/ http://www.pewglobal.org/2015/07/14/climate-change-seen-as-top-global-threat/ https://blog.richmond.edu/geog250/2016/02/08/mapping-the-impacts-of-climate-change/ https://wikitruth.co/topic/global-warming-and-anthropogenic-climate-change/56260b399034736a6829657e http://www.un.org/sustainabledevelopment/climatechange/

SEC Filings and the EDGAR Database [WLOs: 1, 2, 3, 4] [CLOs: 1, 2, 3, 4, 5] In a three- to five-page paper (not including the title and reference pages) research and discuss how the SEC’s EDGAR | Search Tools improves how investors find and use financial information. In your paper, explain how investors can use the Securities and Exchange Commission’s (SEC) database at EDGAR | Search Tools (Links to an external site.) to research a company’s operations and financial information. Assess the financial performance of Amazon.com, Inc. (AMZN) by determining the risk of investing in the company through financial statement analysis. To make the above assessment and determination, go to Amazon’s.com (Links to an external site.) official website, and locate the company’s Investor Relations link. Using the Investors Relations link, find financial information such as SEC Filings and Annual Reports. Conclude how investors can assess Amazon’s.com financial performance and risk using Annual Reports. Explain the content of each report listed below in detail and how it relates to your assessment of Amazon’s.com financial performance. Form 10-K SEC filings Annual Reports Management Discussion and Analysis Management’s Responsibility for Financial Reporting Management’s Report on Internal Control over Financial Reporting Auditors’ Report Selected Financial Data Amazon.com, Inc. (AMZN) is the world’s largest electronic commerce and cloud computing company measured by revenue and market capitalization. The following items were adapted from a recent Annual Report of Amazon.com (Links to an external site.) for the year ending December 31:   In millions 1.                   Accounts payable $16,459 2.                   Accounts receivable 5,612 3.                   Cash 14,557 4.                   Cost of sales 62,752 5.                   Income tax expense 167 6.                   Interest expense 210 7.                   Inventories 8,299 8.                   Net cash provided by operating activities 6,842 9.                   Net cash flows used for investing activities (5,065) 10.               Net sales 88,988 11.               Other expenses 118 12.               Other income 76 13.               Property, plant, and other long-term assets 16,967 14.               Selling, general, and administrative expenses 26,058 15.               Retained earnings (Dec. 31) 2,190   Indicate on which financial statement you would find each of the preceding items using the following notations (note: an item may appear on more than one statement): IS Income statement SE Statement of stockholders’ equity BS Balance sheet SCF Statement of cash flow Prepare an income statement for the year ending December 31, based on the com, Inc. financial statement data shown above. The Final Paper: SEC Filings and the EDGAR Database Must be three to five double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center’s APA Style (Links to an external site.) Must include a separate title page with the following: Title of paper Student’s name Course name and number Instructor’s name Date submitted For further assistance with the formatting and the title page, refer to APA Formatting for Word 2013 (Links to an external site.). Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance. Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper. For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Writing a Thesis Statement (Links to an external site.), refer to the Ashford Writing Center resources. Must add an APA heading (Level 1 or Level 2) for each one of the topics discussed in the research paper as shown: SEC EDGAR Database Level 1Amazon’s.com financial performance Level 1 Form 10-K SEC Filings Level 2 Annual Reports Level 2 Management Discussion and Analysis Level 2 Management’s Responsibility for Financial Reporting Level 2 Management’s Report on Internal Control over Financial Reporting Level 2 Auditors’ Report Level 2 Selected Financial Data Level 2 Financial Statement Notations (IS, SE, BS, SCF) Level 1Amazon’s.com Income Statement Level 1   Use the following APA Style blog to read about the APA Five Levels of Headings (Links to an external site.) Must use at least 14 scholarly and/or credible articles from ProQuest Business, Industry Databases: Nasdaq.com, EY.com, and Comprehensive Accounting Databases: FASB codification, AICPA, and SEC reference library sources in addition to the course text. The Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment. Must document any information used from sources in APA style as outlined in the Ashford Writing Center’s Citing Within Your Paper (Links to an external site.) Must include a separate reference page that is formatted according to APA style as outlined in the Ashford Writing Center. See the Formatting Your References List (Links to an external site.) resource in the Ashford Writing Center for specifications.

One of the primary duties of an accountant is to prepare written reports. Accountants today must be able to research, interpret, and communicate complex accounting subjects in an easy-to-understand manner. The subject of your research may be any auditing, financial reporting, or tax-related issue that you can research in the FASB Codification database. Your final paper should meet the following requirements: seven (7) page minimum length (including cover page and references page) body of the paper (content) must be a minimum of 5 pages, double spaced utilize and cite AT LEAST two outside sources (other than the course text) include citations using APA guidelines include a cover page and a bibliography page (not included in the content minimum) VeriCite score of 25% or fewer Submissions will be checked for authenticity using VeriCite. VeriCite generates a similarity score comparing your writing to online resources and the work of other students.

You are an accountant in the budgetary, projections, and special projects department of Fernetti Conductor, Inc., a large manufacturing company. The president, Richard Brown, asks you on very short notice to prepare some sales and income projections covering the next 2 years of the company’s much-heralded new product lines. He wants these projections for a series of speeches he is making while on a 2-week trip to eight East Coast brokerage firms. The president hopes to bolster Fernetti’s stock sales and price.  You work 23 hours in 2 days to compile the projections, hand-deliver them to the president, and are swiftly but graciously thanked as he departs. A week later, you find time to go over some of your computations and discover a miscalculation that makes the projections grossly overstated. You quickly inquire about the president’s itinerary and learn that he has made half of his speeches and has half yet to make. You are in a quandary as to what to do.a. What are the consequences of telling the president of your gross miscalculations?b. What are the consequences of not telling the president of your gross miscalculations? c. What are the ethical considerations to you and the president in this situation? For more information read this: https://en.wikipedia.org/wiki/Sales_(accounting)

mike, one of the marketing strategists on your team, stops at your office door wanting to talk. “We use fabrics that are made domestically; however, there are issues with using these same fabrics globally. There are laws and regulations that prevent us from shipping these fabrics to other countries. This is a huge concern. One of our primary selling points is the consistency of the quality of our product.” You confirm Mike’s concern, “That’s an excellent point,” you say. “Now you’ve just given yourself and our team more work for the presentation. I’m sure that will come up. One of the board members used to run a textile plant in China.” Mike nods his head in agreement. “I imagine textiles will not be the only resource concern,” he says. Consider the following in your response: Why should resources be a concern in a global strategy? What resources may be a concern in the country you selected? How will this impact the decision to move to the country that you selected? How will this impact your competitive strategy in your global market? Review the reference materials on global strategy as there is information that may assist with the assignment.