Evaluate the importance of the accounting cycle by illustrating the products of that cycle and identifying the potential for problems if it is not properly followed.

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In this short paper, you will evaluate the importance of the accounting cycle by illustrating the products of that cycle and identifying the potential for
problems if it is not properly followed. There is only one short paper assignment in this course, and it has a unique purpose: You can think of this exercise as
establishing the conceptual framework for your remaining work in the problem sets and Final Project I. Essentially, in those activities, you will be engaging in the
specific tasks of the accounting cycle and applying detailed processes on a practical level. Therefore, it is important to grasp the larger picture in this short paper
so that you will be able to connect these smaller tasks and details and recognize their larger significance.

Identify a company that you believe would use job order costing and another company that you believe would use process costing.

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Identify a company that you believe would use job order costing and another company that you believe would use process costing. Identify a third company that uses activity-based costing allocations. Discuss why each might use the method you identified with them. Compare and discuss the similarities and differences you see in the companies.

Choose a peer-reviewed article on the topic of Cost Volume Profit or Variable Costing.

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Choose a peer-reviewed article on the topic of Cost Volume Profit or Variable Costing.
Create a summary of this article and critically analyze the author’s position.
The article summary must be between 300 to 500 words.
Provide a link to the article in your post.

To what extent does (or will)financial accounting play a role in your day-to-day professional life?

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1ACC 201 Final Project II Guidelines and RubricOverviewOne of the measures of success for any business is profitability. Managers and business owners must be able to assess the profitability of a company using information about its financial transactions: This is done through accounting. By working through the accounting cycle, you will understand how to organize transactions in a way that communicates the financial position of a company. This information is critical for external stakeholders who may be interested in working for or investing in the business. This process also helps you understand the level of attention to detail that is required in a successful business venture.The final project for this course consists of two major parts: anaccounting workbook(Final Project I) and a professional relevance essay(Final Project II). In the second part of the final project, you will create a well-crafted essay in which you draw connections between your accounting exercises and their practical applications for furthering your own professional practice.The final product will be submitted inModule Eight.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 statementsPromptIn a professional relevance essay, draw connections between the accounting principles that you demonstrated in Final Project I andtheir specific, practical applications within your own professional practice. Specifically, you must address the critical elementslisted 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 ConnectionsA.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 transactionswould you encounter in your field? Describe at least three using specific details. [ACC-201-01]B.Analyze therelationship between those transactions and the success of yourcurrent or future business. For example, how would eachtransactionimpact the income statement and balance sheet of your company? Illustrate your claims using specific examples. [ACC-201-0

Briefly discuss the features of your chosen costing system.

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Assignment Task: You are required to conduct a literature search and critically review a costing system in this assignment.
Part A:
Choose ONE of the costing systems studied in this unit from the list below, and answer the questions that follow:
• Job Costing
• Process Costing
• Operation Costing (Hybrid Costing)
• Activity-based Costing (ABC)
Questions:
1. Briefly discuss the features of your chosen costing system. (3 marks)
2. Identify 2 specific Australian companies that your chosen costing system is suitable for, and explain why. (3 marks)
3. Discuss two potential uses of the cost information for decision-making, to the managers in each of the 2 organisations selected in Q2 above. (3 marks)
Part B :
Choose one peer reviewed journal article (from any country) on the: Use of your chosen costing system in a real-life organisation (i.e. a case-based empirical study). The article should be published between 2005 – 2020. Choose your article only after you have accessed and reviewed several relevant articles, and then choose the best article that will answer the questions below.
Questions:
1. Based on your chosen costing article, briefly summarise how the costing system was designed and implemented in your real-life organisation. (3 marks)
2. Based on your chosen costing article, did the costing system in the study satisfy the features discussed in Part A (Q1)? Why or why not? Include examples in your answer from your costing article. (5 marks)
3. Based on your chosen costing article, how useful was the cost information to the internal users in the organisation? Discuss with examples from your costing article. (5 marks)
4. Based on your literature findings, state two key lessons that would inform contemporary organisations about the practical use of your chosen costing system. (5 marks)
Additional Information:
a) You are encouraged to choose the journal article from the following Accounting and Management Accounting Journals:
Accounting, Auditing and Accountability Journal;
Journal of Management Accounting Research
Journal of Applied Management Accounting Research
b) You can also use Google Scholar and ProQuest for searching articles . Don’t use Google.
Assignment Structure: The report should include the following components:
a. Assignment cover page clearly stating your name and student number
b. Abstract (one paragraph)
c. Table of contents
d. A brief introduction or overview of what the report is about
e. Body of the assignment with appropriate section headings
f. Conclusion
g. List of References.
Your chosen journal article must be uploaded (as a separate PDF file) together with your assignment (as a MS WORD file format).
Submit the journal article with your assignment.
IF you do not have ProQuest access, please ask me. thanks.

What are the three methods of depreciation?

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Prior to beginning work on this discussion, read Chapter 10 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).

Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.

  • What are the three methods of depreciation?
  • Develop a chart using an example of your choice and calculate the depreciation for 4 years.
  • How do the three methods affect the income statement and the balance sheet?

What is internal control and how can it protect a company’s assets?

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Internal Controls

‘’Prior to beginning work on this discussion, read Chapters 8 and 9 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).

Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.

  • What is internal control and how can it protect a company’s assets?
  • What are the various internal control procedures with respect to cash receipts and cash receipts?
  • When preparing a bank reconciliation, what are the different adjustments that affect the book and bank side?
  • Why do journal entries need to be prepared after completing the bank reconciliation?
  • Provide three example journal entries with a description of the adjustment.

Explain the four merchandise inventory methods and provide an example for each.

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Merchandise Inventory Methods

Prior to beginning work on this discussion, read Chapters 5 and 6 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).

Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.

  • Explain the four merchandise inventory methods and provide an example for each.
  • How are financial statements affected by using the four different methods?

What is internal control and how can it protect a company’s assets?

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What is internal control and how can it protect a company’s assets?
What are the various internal control procedures with respect to cash receipts and payments?
When preparing a bank reconciliation, what are the different adjustments that affect the book and bank side?
Why do journal entries need to be prepared after completing the bank reconciliation?
Provide three example journal entries with a description of the adjustment.

What is the difference between the direct write-off method and the allowance method for receivables?
Give example journal entries for both.

Explain the different types of bank confirmations and what assertions each type addresses.

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Bank confirmations are critical to the cash audit. What information does the auditor obtain by sending bank confirmations? Explain the different types of bank confirmations and what assertions each type addresses. How do you determine which is the best bank confirmation type to use?
Only need a couple paragraphs for discussion