Acc 291 Week 4

In accounting there is much to be learned, about the financial aspects of a business. In the past five weeks I have learned the importance of financial reports and how they relate to the success of an establishment. These reports may include balance sheets and income statements, which help accountants and the public grasp the overall financial condition of a company. The information in these reports is really significant to, managers, owners, employees, and investors. Managers of a business can take and deduce financial

The week four individual paper addresses the implementation of Activity Based Costing (ABC) by Super Bakery, Inc., a virtual corporation founded by Franco Harris. Specifically, management strategies, the reasoning behind an ABC system, and the alternatives of a job order cost system or a process order cost system are assessed for this enterprise.

Review of ABC Company and the directions it is targeting. The strategy of the company is to lift the expected sales in an aggressive fashion, with the expected end target being to triple the current levels. The plan is to push sales into the targeted range of $3 million within 3 years versus the current amount which sits at $1.2 million. We will identify the perceived risk factors that may impact this aggressive strategy and its successful execution. The following will be those risk factors:

any other indebtedness or liability of the debtor to the secured party direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, including all future advances or loans which may be made at the option of the secured party.

4. Total conversion cost = $128,000 + $16,000 + $9,000 + $64,000 + $41,000 + $35,000 + $46,000 = $339,000

A corporation had 40,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 10% stock dividend when the market value of each share was $24. The entry to record this dividend is:

The holding period of the partnership interest includes the partner’s holding period for the 1232 assets contributed. The

The entries used to record the disposition when the receivables are sold to a factor often detail the cash received plus the service charge. The company can then balance their receivables account. When a credit card company records a credit card

Through using the IDEA software, I was able to dive deeper into the recorders of Troy Township. I was able to import Troy’s fiscal year transaction data and run multiple analysis on the data. IDEA is an easy-to-use software that took the difficulty out of the sorting and configuring reports that could show exactly what I was looking for. I was able to create many useful reports that helped me get to the bottom of the fraud that I believe was happening at Troy Township. The records I will be evaluating are; a record count report, a material amount report, a highest expenditure report, a day specific report, a Benford’s report, a duplicate report, and a name specific report. All these reports have their own bit of useful information that had led me to the conclusion that fraud is occurring at Troy.

The boards proposed a standard by which revenue would be recognized entirely based on the firm’s contract with the customer. Any remaining rights or obligations in the contract would give rise to net contract assets or net contract liabilities. Under the proposal, revenue would be recognized based on the changes in rights and obligations under a contract entered into with a customer. Rights (assets) arise from a customer’s promise of cash or other compensation while obligations (liabilities) arise from the firm’s promise to transfer assets to the customer. Revenue is recognized whenever there is an increase in contractual assets or a decrease in contractual liabilities or a combination of both. Remaining rights under the contract are measured, the balance of which will create a net contract asset or a net contract liability.

Assuming that Plyler did not buy back or redeem any of its shares, how much new common stock did it issue in 2015?

A vertical and horizontal analysis of each company's balance sheet and income statement in this particular case will be enlightening. A vertical analysis will for instance shed some light on how revenue is being used. In this case, each component of the companies' financial statements will be converted into a percentage of a key component of either the balance sheet or the income statement. A special common size balance sheet and income statement will be utilized to ease comparison. The

· Discuss, in 200 300 words, each of the four financial statements. Explain the different

Hi Jason. Penny's shares is treated as dividend (which can be paid out of earnings and profit or EP) if his proportionate share has not changed after the redemption. But if the stock redemption significantly decreases the stockholder's equity stake of the Price corporation, then the stock redemption is treated as capital a sale, in which in this situation Penny will either have a capital gain or loss.

There are three basic financial statement analysis, which consist of Horizontal, Vertical and Ratio (Edmonds, Tsay, & Olds, 2011). Each analysis play a very important part by allowing the company to see how the company is functioning daily. The Horizontal analysis is a trending way to compare multiple accounts over a monthly or year period. Being able to compare overall performance of different accounts will be very beneficial for the organization.