Give your opinion as to whether you believe the current progressive federal income tax structure is fair for most Americans.

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Federal Taxes
Overview
Congress has asked you to evaluate the individual tax brackets in the federal tax code and make several recommendations to improve the fairness of the tax brackets. Using the Internet and Strayer Library, research the current federal tax brackets for individual taxpayers.
Instructions
Write a 4–5-page paper in which you:
Give your opinion as to whether you believe the current progressive federal income tax structure is fair for most Americans. Provide support for your response.
Create an argument for what you believe should be the maximum federal income tax rate an individual should have to pay. Provide support for your argument.
Analyze the potential benefits that a flat tax structure might have on both taxpayers and the U.S. Treasury. Defend or critique a flat tax structure.
Use at least three quality academic resources in this assignment. Note: Wikipedia and similar websites do not qualify as academic resources. You have access to Strayer University’s Online Library or iCampus University Library Research page.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer 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 is:
Evaluate how federal tax structures impact individual taxpayers and the government, including a recommendation for maximum tax rates.

How are periodic and perpetual inventory systems different?

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Write: Make sure your response addressing the following questions is more than 265 words and that you include an in-text citation or a brief quote from the reading material where appropriate.

How are periodic and perpetual inventory systems different?
Why does a merchandising company prepare a cost of goods section for the income statement?
Provide an example of a perpetual cost of goods section.
Explain the four merchandise inventory methods and provide an example for each.
How are financial statements affected by using the four different methods?

what are potential frauds that may happen?

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The ABC Company has two divisions, the sales and manufacturing divisions. The president (Randy Savage) manages the sales division. Savage delegated responsibility for management of the manufacturing division to Jane Thomas. The company has a competent accounting staff and an internal audit department. Unlike Savage’s procedures, however, Thomas and her assistant:
Supervise construction,
Maintain the physical inventory,
Receive manufacturing job bids,
Approve all bid updates,
Purchase materials,
Contract shipping needs,
Bill the customer, and
Collect payments.
With Savage’s approval, Thomas has asked the internal auditor not to interfere with her busy schedule.
In the current way of doing things, what are potential frauds that may happen? Suggest several improvements to reduce the risk of fraud and improve internal controls? How would you implement these improvements?

Discuss the difference between seeing accounting as technical practice and seeing it as a social practice.

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Question 3

‘Accounting is a practice that underlies and enables organizational action and much of human activity. In this way, accounting is fundamentally a social practice, which guides and influences the behaviour of people in organizations and society, thereby impacting our lives.’ – Eva Tsahuridu & Garry Carnegie, IFAC, 2018.

Required:

Use your lecture and seminar materials, explain the phrase “accounting as a social practice”. Note the following:

  1. Discuss the difference between seeing accounting as technical practice and seeing it as a social practice.
  2. Illustrate your answers with supporting examples e.g. academic literature.
  3. Present your arguments in form of essay. Reference should be included.
  4. Do not copy from your lecture slides and seminar materials.
  5. The word limit is 1000 words.

Write your plan as if you were writing a letter to the CEOinforming him of your decision.

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Experiment Module 1: Role Play: Super Table SawsPage 2of 3This document is the property ofDr. Curtis R. Price and cannot be distributed or recreated without written consent from Dr. Price.100 200 For example, if you were to choose to have a level of oversight of 70% (i.e. you would test 70% of the units before sending to retail) it would cost your firm $135 million dollars.Benefits of OversightIf you do not do oversight,defective units are known to be sent to retail stores and these will result in litigation as people making a kerf cut amputate a finger in the process.2The table below shows the losses to the company fromlitigation of defective units. Notice that as the level of oversight goes up the costs of litigation go down. This means that oversight works!Assumelitigation is the only cost associated with having defective units in the retail marketplace. Level of oversightCosts of litigation(in millionsof $) 0% 200 10 180 20 160 30 140 40 120 50 100 60 80 70 60 80 40 90 20 100 0 Assignment:I want you to choose a level of oversight. Your plan should NOT include any details about the logistics of the program, your job is merely to come up with the percentage of oversight to have. Write your plan as if you were writing a letter to the CEOinforming him of your decision. Obviously,as a part of this letter you must justify your choice of proportion. You do not have time to gather any more information other than what you are given here. Place your letter in the discussion board for the Module 1 CostBenefit experiment.You will see everyone else’s decision and justification afteryou have posted your decision. Notice there are no right or wrong answers to this experiment. The main purpose is to get us thinking clearly 2If you are an aspiring woodworker,you can learn about kerf cuts here……https://www.youtube.com/watch?v=t4JGlWyVDLs

Experiment Module 1: Role Play: Super Table SawsPage 3of 3This document is the property ofDr. Curtis R. Price and cannot be distributed or recreated without written consent from Dr. Price.about how we make decisions. We will follow up with discussion to highlight how business and managers “should” make decisions.Grading:If you post your decision before the due date and time, it is clear, well written and includes a cogent justification of how you made your decision, you will receive the full 10 points for this experiment. Keep in mind there

What would be three essential items that you would want to discover about that company before engaging to conduct an audit for a new client?

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The acceptance of a new client is essential to a CPAs pre-engagement planning process. The auditor will review the company’s financial performance from the previous year, interview previous team to uncover any issues working with the client, review the company’s public information throughout the year, and contemplate other factors to calculate the relative risk to perform services this year. The client acceptance process should consist of more thorough evaluations for a new client as they bring a new level of risk to the firm and less is known about them in comparison with existing clients.
What would be three essential items that you would want to discover about that company before engaging to conduct an audit for a new client? Why are these the most important? How would you explain the need of this information to your potential client? Address this situation as if you are the audit partner in charge of evaluating new clients.

Analyze the potential benefits that a flat tax structure might have on both taxpayers and the U.S. Treasury. Defend or critique a flat tax structure.

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Federal Taxes
Overview
Congress has asked you to evaluate the individual tax brackets in the federal tax code and make several recommendations to improve the fairness of the tax brackets. Using the Internet, research the current federal tax brackets for individual taxpayers.
Instructions
Write a 5-page paper in which you:
1. Give your opinion as to whether you believe the current progressive federal income tax structure is fair for most Americans. Provide support for your response.
2. Create an argument for what you believe should be the maximum federal income tax rate an individual should have to pay. Provide support for your argument.
3. Analyze the potential benefits that a flat tax structure might have on both taxpayers and the U.S. Treasury. Defend or critique a flat tax structure.
4. Use at least three quality academic resources in this assignment. Note: Wikipedia and similar websites do not qualify as academic resources.

Write a research paper on an advanced study of a topic related to advanced cost accounting.

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Write a research paper on an advanced study of a topic related to advanced cost accounting. The paper must be 7–10 pages, not including any tables, graphs, etc. A minimum of 6 accounting journal sources must be utilized, all of which must have been published within the last 3 years. Current APA (7th edition) formatting is required.

Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base.

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Current Attempt in Progress

Exercise 13-05

Hypothetical balance sheets of Nike, Inc. are presented here.

NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions)
2022 2021
Assets
Current Assets $9,520 $8,800
Property, plant, and equipment (net) 1,990 1,810
Other assets 1,590 1,610
Total assets $13,100 $12,220
Liabilities and Stockholders’ Equity
Current Liabilities $3,220 $3,380
Long-term liabilities 1,260 1,340
Stockholders’ equity 8,620 7,500
Total liabilities and stockholders’ equity $13,100 $12,220

(a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.5%.)

NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions)
2022 2021 Increase
(Decrease)		 Percentage
Change
from 2021
Assets
   Current Assets $9,520 $8,800 $enter a dollar amount enter percentages rounded to 1 decimal place rounded to 1 decimal place %
   Property, plant, and equipment (net) 1,990 1,810 enter a dollar amount enter percentages rounded to 1 decimal place rounded to 1 decimal place %
   Other assets 1,590 1,610 enter a dollar amount enter percentages rounded to 1 decimal place rounded to 1 decimal place %
   Total assets $13,100 $12,220 $enter a dollar amount enter percentages rounded to 1 decimal place rounded to 1 decimal place %
Liabilities and Stockholders’ Equity
   Current Liabilities $3,220 $3,380 $enter a dollar amount enter percentages rounded to 1 decimal place rounded to 1 decimal place %
   Long-term liabilities 1,260 1,340 enter a dollar amount enter percentages rounded to 1 decimal place rounded to 1 decimal place %
   Stockholders’ equity 8,620 7,500 enter a dollar amount enter percentages rounded to 1 decimal place rounded to 1 decimal place %
   Total liabilities and stockholders’ equity $13,100 $12,220 $enter a dollar amount enter percentages rounded to 1 decimal place rounded to 1 decimal place %

(b) Prepare a vertical analysis of the balance sheet data for Nike for 2022.

NIKE, INC.
Condensed Balance Sheet
choose the accounting period May 31, 2022 For the Year Ended May 31, 2022 For the Month Ended May 31, 2022 May 31, 2022For the Year Ended May 31, 2022For the Month Ended May 31, 2022
$ (in millions) Percent
Assets
   Current Assets $9,520 enter percentages rounded to 1 decimal place %
   Property, plant, and equipment (net) 1,990 enter percentages rounded to 1 decimal place %
   Other assets 1,590 enter percentages rounded to 1 decimal place %
Total assets $13,100 enter percentages rounded to 1 decimal place %
Liabilities and Stockholders’ Equity
   Current Liabilities $3,220 enter percentages rounded to 1 decimal place %
   Long-term Liabilities 1,260 enter percentages rounded to 1 decimal place %
   Stockholders’ equity 8,620 enter percentages rounded to 1 decimal place %
Total liabilities and stockholders’ equity $13,100 enter percentages rounded to 1 decimal place %

 

Compare these c.

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(Continued on next page)Financial Statement Analysis and EPS ForecastingReport AssignmentFirst, choose a publicly traded company to analyze this semester. Choosing a US company which has been trading for more than 3 years will alleviatemany issues (i.e. translating currencies).Next, gather historic data on key financial statements of the firm from either SEC filings (http://www.sec.gov/edgar/searchedgar/webusers.htm), Yahoo Finance (http://finance.yahoo.com/) or the firm’s own investor relations website. These include:Balance Sheet Income Statement Cash Flow StatementAlso collect necessary information like stock price, shares outstanding,dividends paid,etc.Then prepare aprofessionalreport to answer the following questions:

1.Compute the following ratios for the firm that you are analyzing, for the most recent period:

2.Comment on the financial condition of the firm in each of the above 5categories in 2or 3sentences each.Use the ratios of your firm as evidence of your assertions by comparing it to some benchmark(historical ratios, competitors, market or industryaverage, etc.). If certain ratios are not applicable to your firm (if your firm doesn’t have debt or inventory, for example), still write on these ratios and how the absence of these items affects the firm –both the costs and benefits.

3.Decompose the ROE of your firm using the extended Du

4.Compare these components of ROE for the firm’s current period its past periods to understand the time trends.

5.Compare these components of ROE for the firm’s with its major competitor(s).

6.Now use thetrends from questions 4 and 5 along with yourown forecast of future macro-economic conditions to forecast the firm’s Earnings per share and cash flow per share. See the Sample Financial statement analysis in the course content for an example. To do this:a.First, make a common sized income statement for the last 3 to5 years(every number as a percentage of revenue/sales).b.Next, measure the revenue growth for each year in the historical window.c.Forecast futurerevenue growth both quantitatively (for example, using a linear fit trend line/regression) and qualitatively.d.Produce forecasted income statements for futureyears using your revenue growth projections and common-sizedbalance sheets. Adjust items in income statement based on trends you see in past data, competitors, and the economy as a whole.