Accounting homework help

The balance sheet and income statement do not necessarily show a complete picture of the financial condition of an organization. In most organizations cash is king, and without a sizable amount of cash, an organization can become insolvent (that is, not having enough ready cash to meet its current obligations or purchase merchandise or materials). When this happens, creditors, bankers, and other external stakeholders (people and organizations that have a vested interest in the survival of a business) might become impatient and force the business into bankruptcy. Accounting homework help
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

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  • Competency 1: Define accounting and its application to accounting principles.
    • Analyze accounting data to classify cash inflow and outflows.
  • Competency 2: Apply accounting cycle strategies to manage business financial events.
    • Apply the appropriate activity for each business transaction.
  • Competency 3: Prepare financial statements from accounting system data.
    • Prepare a cash flow statement using appropriate financial data.

Questions to Consider
To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community. Accounting homework help

  • What are six terms that you consider to be associated with the income statement (revenues and expenses)?
  • Consider why these items should be included as a revenue or expense in a business organization.

Assessment Instructions
This assessment includes two parts. Complete both parts using the templates provided. Both templates are linked in the Resources under the Required Resources heading. Submit both completed templates for the assessment.
Part 1: Types of Cash Inflows and Outflows
You know that the cash flow statement classifies cash receipts and cash payments as operating, investing, and financing activities. Before preparing the cash flow statement, accounting data must be analyzed to locate transactions in both the cash account and other locations. After the transactions have been located, it should be determined whether each one affects operating, investing, or financing cash flow. Last, whether the transaction results in a cash inflow or outflow must be ascertained. Accountants consider this statement to be foundational for a business to continuously operate. Accounting homework help
For this part of the assessment, use the Assessment 3, Part 1 Template to classify each of the following cash inflows and outflows as operating, investing, or financing activities:

  1. Sale of a piece of company equipment.
  2. Sale of common stock.
  3. Payment to suppliers for merchandise purchased.
  4. Payment to lenders for interest on note payable.
  5. Sale of investments in other companies.
  6. Purchase of land to expand plant size.
  7. Payment to stockholders as cash dividends.
  8. Sale of goods or services.
  9. Payment to employees for wages and salaries.
  10. Lending of money to other business entities.
  11. Payment to government for property and income taxes.
  12. Collection of principal on loans to other entities.
  13. Interest and dividends received.
  14. Issue of bonds to support company growth.
  15. Purchase of investments in debt or equity of other entities.
  16. Payment to other entities to cover expenses incurred.
  17. Buyback of company stock from investors.

Part 2: Cash Flow Statement Preparation
The cash flow statement is an important, and often overlooked, financial statement. However, it can provide important data for use by internal organization management. By analyzing the balance sheet and income statement, the accountant can then prepare the statement and share the results with both internal and external users.
Use the Assessment 3, Part 2 Template to determine the appropriate activity (operating, investing, or financing) for each transaction listed for Skylar Enterprises, Inc., and prepare the cash flow statement using the indirect method in good form for reporting. Data is provided in the Information worksheet in the template; complete the statement of cash flow in the Cash Flow Statement worksheet. Use the suggested materials in the Resources if you need more information on preparing cash flow statements  Accounting homework help

 
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Accounting homework help

You will create this assignment following the Assignment Detail instructions below.
Review the tutorial How to Submit an Individual Project.
For this project, you are going to describe in detail an experience that you had while working with teams in your workplace. Then, explain in detail and provide examples of the advantages and challenges of working in teams discussed in the reading. You will also discuss how the team learned as a group and moved forward in the team-building process.
This week, you will conduct a 5-page analysis of teams in your workplace. You will need to include 3 scholarly sources in your work.
Incorporate the following details in your writing:

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Planning and Execution

  • Describe a time when you have worked with teams.
  • Explain the disadvantages and advantages that you experienced while working in the teams.
  • Did your team overcome the problems and proceed in the process of team building?
  • How did the organization’s culture factor into the experience?
  • Analyze the processes necessary to maintain a functioning cooperative team. Accounting homework help
  • Identify the mutual goals shared by the team members.

Submitting your assignment in APA format means, at a minimum, you will need the following:

  • Title page: Remember the running head. The title should be in all capitals.
  • Length: 5 pages
  • Abstract: This is a summary of your paper, not an introduction. Begin writing in third person.
  • Body: This begins on the page following the title page and abstract page and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics, except as required for APA-level headings and references. The deliverable length of the body of your paper for this assignment is 5 pages. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
  • Reference page: References that align with your in-body academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. Remember, the Reference page is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation. Accounting homework help
 
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Accounting homework help

2. Explore the concepts of the course material relating to CAFRs. You must also find and review / read outside literature on this subject and the below requirements as well and use and reference same in the paper.
3. Prepare an executive summary paper on the CAFR to include the following:
a. A brief introduction / review of your chosen CAFR entity.
b. For the CAFR report, discuss its focus, what it is trying to impart on its users, a review of the main sections of the CAFR (what is NOT expected is a fund-by-fund accounting of figures, performance, balances, etc.), and who is the actual intended audience / users being addressed outside those the CAFR report itself is addressed to.Accounting homework help

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c. Discuss your thoughts on how a CAFR is presented to its users.
4. Your deliverable is to be three – five pages in length (~1,000 to 1,800 words), single-spaced, double spacing between paragraphs, one inch margins and a font size of 10 – 12 points. Use headings related to topics in our class, and include a cover page and works cited section. In-text citations of all facts must be included and done per APA standards. The paper is to be uploaded through the assignment folder only in a single Word document with only “YourName.doc(x)” as the file name. There are to be no active hyperlinks anywhere in the submission.
5. Points will be deducted for failing to adhere to these requirements, especially the 3 requirements in part 3. 6. Please refer to the grading matrix for how your performance will be evaluated.

 
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Accounting homework help

Ethics plays a vital role in business and the accounting profession. Here is an opportunity to connect your current learning about inventory with the profession’s commitment to ethics. Accounting homework help
EC5: Tiffany Lyons was just hired as the assistant treasurer of Key West Stores. The company is a specialty chain store with nine retail stores concentrated in one metropolitan area. Among other things, the payment of all invoices is centralized in one of the departments Tiffany will manage. Her primary responsibility is to maintain the company’s high credit rating by paying all bills when due and to take advantage of all cash discounts.

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Jay Barnes, the former assistant treasurer who has been promoted to treasurer, is training Tiffany in her new duties. He instructs Tiffany that she is to continue the practice of preparing all checks “net of discount” and dating the checks on the last day of the discount period. “But,” Jay continues, “we always hold the checks at least 4 days beyond the discount period before mailing them. That way, we get another 4 days of interest on your money. Most of our creditors need our business and don’t complain. And, if they scream about our missing the discount period, we blame it on the mailroom or the post office. We’ve only lost one discount out of every hundred we take that way. I think everybody does it. By the way, welcome to our team!” Accounting homework help
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2018). Accounting principles (13th ed.). Hoboken, NJ: Wiley.
You are to write a 2-3 pages paper. Use the ethics resources for accounting. Make sure to cite at least one source from those provided and reference them (in your separate reference page) following APA guidelines.
Respond thoroughly to the following questions in your reflective essay:
1.         What are the ethical considerations in this case?
2.         Who are the stakeholders that are harmed or benefited in this situation?
3.         Should Tiffany continue the practice started by Jay? Does she have any choice?
4.         Which Code of Conduct principle would you act on from the professional codes of conduct guiding ethical behavior in this field (Provide the name of the organization and the code of conduct that pertains to why you act, and then provide the URL for your source)?
5.         Based on your chosen code of conduct principle(s), what would you do (step-by-step) to act in accordance with your chosen principle to address this situation?
Here is the resource to be used- https://www.aicpa.org/research/standards/codeofconduct.html Accounting homework help

 
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