Category: Accounting

The P-O-L-C framework

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Read SAS: A New No. 1 Best Employer. As you read through this article, consider the introduction to the P-O-L-C framework that you received in this module. In your initial post, respond to the following question: How would you describe SAS’s employee management using the P-O-L-C framework? In addition, provide an example from SAS of each facet of the P-O-L-C framework: planning, organizing, leading, and controlling, and briefly explain how the example aligns with that facet.
In responding to your peers, evaluate how their examples can impact employee management. Support your response with sound arguments and properly cited sources, when applicable.
To complete this assignment, review the Discussion Rubric.
Article Link Below
https://www.sas.com/en_us/news/press-releases/2021/april/sas-named-a-best-workplace-in-technology-by-fortune.html

 

 

Financial Statement Accounts

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The three primary financial statements tell us important and different things about a business. The balance sheet tells us about a company’s resources and claims on those resources, the income statement measures a company’s financial performance for a period of time, and the statement of cash flows reports the cash inflows and outflows of a company by category.
You and your business partner have been running your company for one year now—long enough for your accountant to prepare a complete set of financial statements for your review. Your business partner maintains that everything she needs to know about the business is contained in the balance sheet, the statement of cash flows, and the income statement.
As a business owner, discuss at least one item (account) reported on the income statement that would help you make decisions about future business operations. In addition, choose 1 of the questions below to answer based on your response:
What are two items (accounts) from the balance sheet that you would track on a regular basis? Why?
What are two elements on the statement of cash flows that you and your business partner would find informative and useful as decisions about the future are made?

 

 

Factors that contribute to fraudulent activity

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As an office manager of a physician clinic, you may experience fraud from a variety of sources. Internal controls help reduce the risk of these fraudulent events.
Accounting scandals and fraud, both in the United States and internationally, have ignited the debate over current laws, regulations, and accounting principles. The relative merits of generally accepted accounting principles (GAAP), a rules-based approach to accounting, and International Financial Reporting Standards (IFRS), a principles-based approach, have been under scrutiny. Recently, the Financial Accounting Standards Board (FASB) announced that it intends to introduce more principles-based standards to improve general accounting principles and practices.
Respond to the following:
• What are the primary factors that contribute to fraudulent activity?
• Consider the difference between fraud and abuse.
• Identify a real-world example of a fraudulent event in health care.
• What happened in your chosen example and what could be the legal ramifications?
• Which internal controls failed to address your chosen example? Explain.

 

Income taxes trend

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primary revenues and other revenue types?
What do the accounting policies say in the annual report (footnotes) regarding the cost of revenue? What are the drivers to the cost of revenue and the trends?
Are there any trends in sales and marketing expenses or research and development? Are these amounts reasonable for the type of business?
Compare general and administrative expenses to similar companies. Are they reasonable?
What is the ratio of net interest income (expense) to income from operations? Is this a safe ratio for the company? Why or why not?
What is the income taxes trend? Is the effective tax rate reasonable over time?
Formulate your analysis on the preceding requirements to discuss the financial health, performance, strengths, and weaknesses of the company, as well as any identified positive or negative trends.

COST SYSTEMS AND COST BEHAVIOR

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Module 1 – Case
ACCOUNTING COST SYSTEMS AND COST BEHAVIOR
Assignment Overview
Preparation of an Income Statement for The Serious Reader Company
The first case of this course provides an opportunity to prepare a segmented variable costing (contribution margin, behavioral) income statement and analyze the information. This is a very small company and the information may seem simplistic at first glance. Don’t forget that numbers and hands-on practice best illustrate many basic accounting concepts.
The Serious Reader Company is a small online retailer operating out of a garage apartment. The owner buys books at garage sales, thrift shops, library sales, and whenever an opportunity arises. The company classifies all books into five categories based on cost of acquisition and estimated sales price. See below for details about books purchased and sold during the last year (20XX).
Variable Operating Expenses
Shipping per book $1.75
Common fixed expenses
Internet-related costs $18,000
Travel $5,800
Advertising $17,800
Other overhead $9,400
In addition to purchasing inventory (used books), the company incurs some operating expenses.
Price Categories
ABCDE
Units Sold 4,000 1,800 500 150 600
Units Purchased 6,000 6,000 1,000 1,000 1,200
Resale Price $5 $12 $15 $50 $70
Cost $2 $5 $10 $15 $25
Case Assignment
Required:
Computations (use Excel)
• Prepare a segmented variable costing (behavioral) income statement for the company in good format.
• Prepare a second variable costing statement assuming 90% of all the books in each category purchased were actually sold.
• Prepare a third variable costing statement assuming that the price is increased by 50% for all five categories (use original sales information).
• The owner enjoys the used-book business. Any suggestions as how to turn this into a full-time business venture so the owner can quit his other job? Prepare another income statement to support your idea.
Memo (use Word)
Interpret the results from the computations and explain how the information is useful. Write a 4- or 5-paragraph memo to the owner of the business. Start with an introduction and end with a recommendation. Each of the four or five paragraphs should have a heading.
Short essay to comment on the questions below (use Word). Start with an introduction and end with a summary or conclusion. Use headings. Maximum length of two pages.
• Why do many organizations make the effort to prepare a different type of income statement for internal purposes?
• Variable costing is not just about preparing income statements. Provide at least three scenarios in which understanding how costs behave is useful.

One way an organization can raise capital.

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An initial public offering (IPO) is one way an organization can raise capital. This is the first time shares of stock are available to the public for purchase. Research 3 companies who had an IPO within the past 10 years. What was the stock price the day of the IPO? What is the stock price today? Was the IPO considered a success? Why or why not?

 

Using Financial Accounting.

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Using the same company and annual reports that you chose for your Reading and Using the Annual Report Case Study discussion forum in Week 1,

Prepare a comparative balance sheet, income statement, and statement of cash flows, and perform a horizontal analysis of the company’s balance sheet, income statement, and statement of cash flows for the most recent 2 years. Identify at least one significant change (increase or decrease) from one year to the next in a balance sheet account, income statement account, and statement of cash flows account.
Identify the causes of the change in each of these accounts.
Discuss the implications of each of these account changes, and your assessment of the company based on these changes. Do these changes reflect positively or negatively on the company, and what is your assessment of the outlook for the company?

 

Using Financial Accounting.

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Using the same company and annual reports that you chose for your Reading and Using the Annual Report Case Study in Week 1,

Prepare common-size balance sheets, income statements, and statements of cash flows for your chosen company for the latest 2 years. Identify one company that competes with your chosen company, obtain their financial statements for the most recent two years, and prepare common-size balance sheets, income statements, and statements of cash flows for your chosen company for the latest 2 years.
Explain why common-sized financial statements are a convenient way to compare financial statement items within the same period, between periods, and between competing companies.
Perform a vertical analysis of at least one item on the common-size balance sheet, income statement, and statement of cash flows you prepared for the most recent year. Compare each item to the same item on the common-size financial statements for the previous period and to the same item on the common-size financial statements you prepared for the competing company.
Discuss what this comparison tells you about your chosen company’s current financial condition, how it compares to the previous year, and how it compares with the financial condition of your chosen company’s competitor.

Mobility of ingredients and the locality of their purchase

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Several of the learning objectives in Part 2: Ingredients address the mobility of ingredients through a rather complex (or at times very simple) web of production, exchange, and consumption. For this discussion board, I want you to grasp this concept of mobility by examining the origin of a single ingredient. To do this, you will go to a place where you can purchase an ingredient (an apple for example), buy it, take a picture of it, and then start doing some research into where THAT SPECIFIC thing came from. So, if I go to a farmer’s market and buy an apple, I take a picture of it and ask the vendor where the apple came from, who did he/she buy it from/where was it sourced, which farm grew it, where this farm is, how it got here. If I go to a grocery store, these questions might be answered by contacting the produce manager of the store, visiting the website of the brand, or calling customer service for that brand. This can be challenging detective work.

If you hit a dead end and can’t find out. That’s ok. Start over with a different ingredient. But, I won’t accept “I couldn’t find out” as a post to this board.

Once you have your image and information, please prepare a post for the discussion board.

: “Identify the mobility of ingredients and the locality of their purchase.” In other words, discuss how the ingredient you selected has traveled from its origin to you (as the consumer) at the locality of its purchase (the store you bought it at)”