How are manufacturing inventories different from those of a retailer?

/in /by

BAM 110 Unit 2

How are manufacturing inventories different from those of a retailer?

Describe how one area of Business Law has developed over time and how it is relevant to accountants today. Your description should be supported by relevant cases and statutes.

/in /by

Business law for accountants


Specific, individual feedback will be sent by e mail with the marked work and generic feedback will be posted on Blackboard within 21 days of the submission date.

In not more than 1500 words (excluding references) answer the task below:
Task
Describe how one area of Business Law has developed over time and how it is relevant to accountants today. Your description should be supported by relevant cases and statutes. Possible areas include (there are others):
• Consumer rights
• Duty of Care
• Impact of business ethics

What would be your tax liability under the current system? What would be the effective tax rate under the current system? What would be your tax liability under this new 18% flat tax system? Would you vote in favor of this flat tax system? Explain your position.

/in /by

ACC 261 Online – Discussion Problem 2

Every year during the tax filing season, people complain about how complex the tax system has become. Assume that Congress is considering passing legislation to do away with the current tax system and impose a 18% flat tax on all income. This means there is no longer tax free provisions such as the gain exclusion on the sale of your home, social security income, tax-exempt interest, life insurance proceeds, and child support. This also means that there are no special loopholes, no longer an Alternative Minimum Tax (see Ch. 13), no filing status distinctions, no tax credits, and no graduated tax rates.
1. What would be your tax liability under the current system?
2. What would be the effective tax rate under the current system?
3. What would be your tax liability under this new 18% flat tax system?
4. Would you vote in favor of this flat tax system? Explain your position.
5. Would the government have a budget surplus or deficit under this new system with respect to these two taxpayers (assume all other factors remain constant)? Is this system fair?

What are the most challenging concepts for you to understand? Have you found any supplemental resources or websites that have helped you to better comprehend the material?

/in /by

DQ 3-4

DQ1
Select a publicly-traded company and access its most recent financial statements from its annual report. Include the name of the company in your subject line, and do not choose a company about which one of your classmates has already posted. Examine the income statement for that company and identify the items that deviate from the typical formats of the multi-step income statement that we have examined in class. Find justification in the FASB Codification that supports or contradicts the financial statement presentation and cite the Codification section so that your classmates can find this information. If there are any items that you see on the financial statements that you do not understand, identify those for your classmates and instructor to provide guidance on. Participate in follow-up discussion by asking questions about the financial statements that your classmates posted on or responding to questions that they pose.

DQ2
Explore the textbook chapters and related resources for this topic. What are the most challenging concepts for you to understand? Have you found any supplemental resources or websites that have helped you to better comprehend the material? Participate in follow-up discussion by explaining concepts to your classmates, or by commenting on additional resources that were shared.

DQ3
Consider a scenario in which you could personally use present or future value calculations to come to a conclusion. Explain the scenario and provide calculations that show how you applied the time value of money concepts. Participate in follow-up discussions by asking questions, commenting on your classmates’ posts, or recomputing classmates’ calculations to apply to your own assumptions.

DQ4
Explore the textbook chapter and related resources for this topic. What are the most challenging concepts for you to understand? Have you found any supplemental resources or websites that have helped you to better comprehend the material? Participate in follow-up discussion by explaining concepts to your classmates, or by commenting on additional resources that were shared.

 

Explain how the ratio is calculated and discuss and interpret the ratios that you calculated.

/in /by

Ratio Analysis

Using the data from the Coca-Cola 2017 Annual Report (Links to an external site.) financial statements, starting on page 60, calculate the following ratios:

Common Stockholders Equity Ratio
Profit Margin Ratio
Cash Ratio
Debt to Equity Ratio
Debt Ratio
Explain how the ratio is calculated and discuss and interpret the ratios that you calculated. Submit a screenshot of the company financial statements as an appendix. The analysis must show all formula calculations to support your results.

Identify at least three of the five different 2013 framework elements that focus on internal control. Make sure that elements connected are related to financial reporting of the organization.

/in /by

COSO’s Internal Control Integrated Framework

For this assignment, pick a health care organization of your choice. It could be a hospital, large clinic, or care facility.
Identify at least three of the five different 2013 framework elements that focus on internal control. Make sure that elements connected are related to financial reporting of the organization. Provide your rationale on the reasoning that the selected elements are tied to the financial reporting process in the organization. These are located in Chapter 3 in your textbook.
Design a method in AIS where it can be integrated in the health care industry that will improve the efficiency of its operations.
Design a method in AIS where it can be integrated in the health care industry that will improve the communication of the chosen health care organization.
Draft a one-page recommendation at the end of the document directed to the CEO explaining the findings, recommendations, and benefits of installing an accounting information system.

Identify the type of issue and the people impacted by the ethical issue. Monitor the outcome by providing a fictional ending to the case study. Did the chose approach work? why or why not?

/in /by

Personal Action Plan for Ethical Decision making

Creating a personal Action Plan for Ethical Decision making.
1. Identify the type of issue and the people impacted by the ethical issue.
2.List four possible approaches and analyze the potential outcome of each.
3.Choose the best approach and describe how to implement it.
4. Monitor the outcome by providing a fictional ending to the case study. Did the chose approach work? why or why not?

Explain the impact of accounting transactions in financial statements. Describe the elements and purpose of each financial statement. Discuss the components and use of financial analysis.

/in /by

Accounting transactions and financial statements

Instructions:

Write a 550 – 650 word paper that addresses the following topic:

-Explain the impact of accounting transactions in financial statements.

-Describe the elements and purpose of each financial statement.

-Discuss the components and use of financial analysis.

The paper must be formatted according to APA 6th edition guidelines, and you need to use at least two external reference. To maximize grade, be sure to use the proper organization (intro, body, conclusion) and follow APA style.

Consider the importance of environmental, social and governance (ESG) criteria and the relationship with corporate financial performance. Undertake effective research to identify ESG obligations that apply to Boohoo Group plc. Discuss how Boohoo could monitor their success in meeting those obligations.

/in /by

Decision management

Question 1
500-700 words
Outline a performance management model and discuss how use of this model would help Boohoo plc to manage performance.
Suggest the major KPIs for Boohoo group plc and justify your choices.

Question 2
500-700 words
Consider the importance of environmental, social and governance (ESG) criteria and the relationship with corporate financial performance.
Undertake effective research to identify ESG obligations that apply to Boohoo Group plc. Discuss how Boohoo could monitor their success in meeting those obligations.
Evaluate how meeting those obligations impacts on the traditional profit maximisation model and competitive advantage, give examples to support your answer.

Question 3
300-500 words
Pick one tool from AICPA/ CGMA Cost Transformation Toolkit and explain how Boohoo plc could use it to help meet their sustainability tagets.
https://www.cgma.org/content/dam/cgma/resources/tools/cost-transformational-tool/cost-transformation-model-toolkit.pdf

Explain how you determined the filing status, dependents, and use of standard/itemized deduction. Complete a tax analysis that is informed by tax law and strategies to determine the most beneficial way for a client/family to file their federal income tax return.

/in /by

Assisting a family with their tax returns

Imagine that you are preparing taxes for a local tax service provider.
Overview
A married couple named Judy and Walter Townson have come to you to seeking assistance with their federal income taxes. During your meeting with the Townson’s, you gather the following information:
⦁ They are both 55 years of age.
⦁ They have two daughters and one son.
⦁ One daughter (age 25) is married with children.
⦁ One daughter (age 20) is living at home and attending college.
⦁ Their son (age 16) is a junior in high school.
⦁ They are currently paying for their college-student daughter to attend school full time.
⦁ Judy is employed as a teacher and makes $60,000 a year. She used $500 of her personal funds to purchase books and other supplies for her classroom.
⦁ Walter is employed as a CPA and makes $100,000 a year.
⦁ They provided you a 1099-INT which reported $4,500 in interest, of which $500 was savings bond interest.
⦁ They provided you a 1099-DIV which reported $300 in dividends.
⦁ They received a state tax refund last year of $385.
⦁ They provided you a list of expenses including:
⦁ Doctor’s bills, $800.
⦁ Prescriptions, $400.
⦁ New glasses, $2,000.
⦁ Dental bills, $560.
⦁ Braces, $5,000.
⦁ Property taxes for their two cars of $800, which included $50 in decal fees (tabs).
⦁ Real estate taxes of $4,500.
⦁ Mortgage interest of $12,000.
⦁ Gifts to charities, $1,000.
⦁ GoFundMe contribution to a local family in need, $100.
⦁ Tax preparation fees for last year’s taxes, $400.
Instructions
Consider the most beneficial way for Judy and Walter to file their federal income tax return.
Prepare a brief written summary, no more than 500 words that address the following:
⦁ Estimated taxable income for Judy and Walter (show computations).
⦁ Summary of tax return, including any suggestions or tax planning considerations.
⦁ Explain how you determined the filing status, dependents, and use of standard/itemized deduction.
This course requires the use of The Schools Writing Standards. For assistance and information, please refer to the Schools 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:
⦁ Complete a tax analysis that is informed by tax law and strategies to determine the most beneficial way for a client/family to file their federal income tax return.