Accounting

Multicultural Team This course has major project assignments due in Week 3 and Week 5. It will take more than a week’s effort to adequately complete them. Plan time to start the research and work on those assignments earlier than the week in which they are due. Recently, you have been assigned the task of assembling a multicultural, team in your organization. The purpose of the team is to design and implement a leadership development and succession process for the organization.  Based on research using the course text and other scholarly materials: Analyze the stages of group development the teams should expect to experience. At each stage, make recommendations that will help move the team into the next stage. Multicultural project teams often face problems with communication, expectations, and values. How do you think some of these challenges can be overcome? Explain some of the group decision-making challenges the team may experience and recommend ways to overcome them. Discuss at least three recommendations to help make these teams effective.

Question 1. Identify which basic principle of accounting is best described in each of the following items: (20 points)a. ABBA Company, in addition the Financial Statements, publishes also notes to its financial statements and supplementary information. (5 points)b. Gamma Co. reports trading investments on its statement of financial position at their estimated fair value. (5 points)c. EdilCentro recognizes supplies cost as an expense when using them, instead of when purchasing them. (5 points)d. KCC Co. records revenues when it performs a service for its customers even though cash is collected later. (5 points)Question 2. Presented below is information related to Brown Co (amounts in thousands) (80 points)Interest revenue € 30,000 Sales revenue 2,800,000 Sales returns and allowances 120,000 Sales discounts 36,000 Cost of goods sold 1,000,000 Advertising Expense 200,000 Sales Commissions 160,000 Salaries of Sales personnel 240,000 Depreciation of Office Buildings 120,000 Office Supplies Expenses 68,000 Other general expenses 80,000 Interest expense 160,000 Gain from sale of equipment 320,000 Loss from sale of a division 80,000 Dividends paid on preferred shares 18,000 Assume the total effective tax rate on all items is 20%. 100,000 ordinary shares were outstanding during the year Required Prepare an Income Statement. (80 points)

This class is taught on the basis of real world examples in the accounting profession where auditors, tax preparers, advisory groups, etc. all work as teams and in groups to do projects for clients. In the group project, each student has been assigned a team and two sets of publically traded companies which they will analyze and compete against the other team to influence an investor who has hired them to invest in the stock of their assigned company. The group project is subjective and there is no one correct answer. It depends on how you and your group determine the best way to format, analyze and present to the investor in both a written analysis and an oral presentation. Written analysis needs to be approximately 15-25 pages. VIDEO presentations for each group should be 12-15 minutes. Detail individual: 1. For this project, the company you are assigned is Keysight Technologies. 2. Please read the Project Requirement carefully. 3. The topic you need to discuss is 8 & 10. – 8. Identify areas where you feel management may manipulate earnings? 5% – 10. Determine a CAPM and Beta based on information in the book. Be reasonable here, often there is no one correct answer 5%. 4. Write 2 page of the topic and you can insert chart if needed which is not count as a page.  5. Please watch the example project I provide ( Costco, Target) before do the project. 6. Due is September 1 (Tuesday). 7. The resource for the project you can find from the following website: – Google Finance, Yahoo Finance, & SEC.gov

You have recently hired several new members to your team who will be assisting with financial statement analysis for your clients. As part of their training, you want to make sure that they fully understand the requirements of the SEC regarding financial reporting and the tools available to analyze the financial performance of a firm. Explain all of the following: outline the governing authorities over financial reporting outline the financial reporting requirements of the SEC describe 2 tools one could use to analyze the financial performance of a firm describe the tools explain how each might be useful in the analysis

Prior to beginning work on this discussion, please read the articles “Who Needs Budgets?     (Links to an external site.)  in the Financial Planning page of the CFO Edge website, and Traditional Budgeting Versus Beyond Budgeting: A Literature Review  (Links to an external site.) . In the words of GE’s legendary ex-CEO Jack Welch, Jack Welch, “The budgeting process at most companies has to be the most ineffective practice in management. It sucks the energy, time, fun, and big dreams out of an organization (…) [and] brings out the most unproductive behaviors (…)” (Welch & Welch, 2005, p. 189). Some argue that the purposes of budgeting can be achieved without the conventional budgeting process. These companies espouse an idea called beyond budgeting that proposes to replace annual budgets with rolling forecasts of key performance indicators (Hope & Fraser, 2003). Others disagree, pointing out that the work of continuous planning is costlier than budgeting and that doing something continuously tends to make the process superficial. So, the jury is still out. But so far, GE still prepares budgets! Discuss in 200 words whether the controversial concept of beyond budgeting is a better approach for financial planning and analysis (FP&A) than traditional budgeting.

Fortune magazine is headquartered in the United States. This magazine is well-known for regularly reporting ranked lists such as the Fortune 500 list. The Fortune 500 list details the top ranked U.S. based companies according to company revenue. This list can be useful to investors and also to competitors. For management accounting, it is important to be aware of other company trends, strengths, and challenges. For discussion, visit the Fortune 500 ranking list (Links to an external site.) and scroll through to select a company.  (Links to an external site.)This discussion board focuses on the following student learning objective(s) as it relates to the course objectives (CO) described under the Getting Started – About This Course page: apply critical thinking skills to consider and evaluate written cases to effectively formulate meaningful, relevant written communications to accounting issues. (CO1, CO4) General Instructions: For this discussion, you will be responsible for reviewing the list of 500 companies and selecting 1 company to discuss. Complete and submit the assignment by 23:59 EST Wednesday. The second post instructions are listed below. Your final response will be due by 23:59 EST Sunday. Detailed Instructions: Review the list of 500 companies for a company that makes or sells a product. Do not select Walmart for your company. I will be using Walmart for some examples later in the course.  When you click on the company name, you are directed to specific information about that company. You can also see a link for the company website. Click on the company website link. Search for the “2019 annual report,” which will contain the financial statements and information from the company to the public (shareholders/investors/or customers) and the management discussion and analysis. Save the 2019 annual report as you will be using it later in the course. Note: There are different types of financial reports. You are looking for the “annual report” because it contains the final audited complete financial information. On the discussion board, tell us the following: • What is the name of the company? • Why did you choose this company? • At least 2 interesting things (in detail) that you learned from reviewing the annual report. I would expect at least 1 paragraph for each thing. • Be sure to copy and paste the company link into your discussion. You will be graded based on following instructions, critical thinking, well-developed response, clear and concise, and mechanics such as grammar, punctuation, and sentence structure. Please see the enclosed rubric for more details. To avoid plagiarism, please be sure to follow APA format and cite the reference where needed. If your comments are in your own words, it is not necessary to quote or cite the reference. To assist you with grammatical concerns, you may find the following link helpful https://www.englishgrammar.org/

As explained in UMGC’s Philosophy of Academic Integrity, the foundation of our vision is for students to build knowledge, skills, and abilities to achieve their professional aspirations is integrity. Our institutional Academic Integrity Policy outlines guiding principles that support integrity and lists prohibited misconduct.To support your learning about Academic Integrity, we ask that all students in this course complete all Modules of the Academic Integrity Tutorial as a required assignment. Use the tutorial link and complete each of these modules. The certificates you will be earning must be dated no earlier than May 2020. You may be able to use these certificates in future courses.Additionally, to complete the required report, you must:1. Search for two videos on YouTube. 2. Use the search terms: “YouTube plagiarism” and “YouTube paraphrasing.” 3. Locate and watch a video for each term.4. You should have two separate videos: one for plagiarism and one for paraphrasing.5. Include a link to the appropriate video at the end of the two initial paragraphs in your write-up.6. Your report must be specific to this class, and not a copy of a report you created previously. Use examples of activities in this accounting course in your report and use the name and section number of this course: ACCT #### ####.7. If you have recently completed this assignment in a different Accounting course you can build on the report you created at that time, but your submission must specifically reference this class ACCT ### and our assignments.Report RequirementsTo verify your understanding of Academic Integrity, you will need to complete the following:A. Submit a certificate for the last module once you have completed all the modules.B. Submit a four-paragraph report where you:1. Describe what Academic Integrity means to you and the writing resources and tools you can use to prevent academic integrity issues.2. Refer to the videos you located and the content of the Academic Integrity tutorial to explain how you will comply with the policies based upon the assignments (e.g., discussion postings, reports, quizzes, exams, and all other submissions) this semester in this class.3. Write a one-paragraph summary for each of the two videos you viewed, focusing on the key themes covered and how they relate to assignments (e.g., discussion postings, reports) this semester in our class.4. At the end of your report include a reference list with a link and video name for each of the two videos you viewed, a link to the UMGC Academic Integrity Policy, and a link to the UMGC Academic Integrity Modules in APA format.

As with the accounting field in general, auditing continues to see significant changes in principles and procedures. Additionally, as information technology continues to advance, the way we conduct audits can change. It is important to keep up with trends in our industry to prepare for the future of auditing. We also need to be familiar with the pitfalls of auditing. We should focus on audit quality and learn from prior audit failures. Search the internet or the Shapiro Library to find a scholarly article related to current trends in auditing or audit failures. Summarize the article and provide the link. If you chose an article related to trends, what trend do you find most concerning and why? If you chose an article related to an audit failure, explain why the audit failure occurred and provide at least one suggestion on how the audit failure could have been avoided. Explain how the article you presented confirms or changes your opinion on the current climate in auditing.

In a professionally written document, discuss what the financial statement notes tell the user about the topics you choose from the list below. Pick three of the following topics: Equity (common stock, treasury stock, and dividends) Investments (held-to-maturity, available-for-sale, etc.) Revenue Recognition (percentage of competition, installment sales, etc.) Full Disclosure (segment reporting and subsequent events) Pensions and Retirement Plans Leases (capital and operating) For each topic, address the following items in 250-500 words for a total word count of 750-1,500 for all three topics: A discussion of the topic. Include a description and the significance to GAAP. A summary of the financial impact of the topic for your company. Describe how it is reported on the balance sheet and income statement. A summary on the importance for your company to disclose this item to users.

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. Inlcude 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.