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ACC 561
Final Exam
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ACC 561 Week 1 Complete
DQ 1.Why are financial statement important to internal users, such as
employees, managers, and directors?
DQ 2.Can you think of any reasons why companies may want to
maximize profit on its income statement? What about minimizing
profit? What ethical implications may these objectives have?

WileyPLUS Assignment Week 1 Practice Quiz
Resource: WileyPLUS
Complete the Week 1 Practice Quiz in WileyPLUS.
WileyPLUS Assignment Week 1 Assignment
Resource: WileyPLUS
Complete the following Week 1 Assignment in WileyPLUS:
• Brief Exercise: 1-7
• Brief Exercise: 1-8
Individual Assignment Financial Statement Review
Option 1:
1. Select an American corporation.
2. Visit its website and download the Income Statement, Statement of
Stockholders Equity, Balance Sheet, and Statement of Cash Flows.
3. Complete the University of Phoenix Material: Financial Statement
Review Worksheet.
4. Submit the completed worksheet, copies of the downloaded financial
statements, and a link to the website. Include all your calculations if
applicable.
5. Click the Assignment Files tab to submit your assignment.
Option 2:

1. Create a table that lists each type of financial statements – income
statement, balance sheet, cash flow statement and statement of equity
under Column.
2. Add two columns. Column 2 should be labeled "Purpose" and
Column 3 should be labeled "Users".
3. Complete the table. Under Column 2 explain the purpose and
content of each statement. Under Column 3 list the users of each and
explain how they would use such statements.
4. Click the Assignment Files tab to submit your assignment.
Read More Courses Here.………… ACC 561 Week 1 DQ 1 | ACC 561
Week 1 DQ 2 | ACC 561 Week 1 Quiz | ACC 561 Week 1 WileyPLUS
Assignment | ACC 561 Week 1 Financial Statement Review | ACC 561
Week 2 DQ 1
ACC 561 Week 2 Complete
DQ 1.Last week we discussed how different stakeholders (managers,
investors, lenders, public) use financial statements. This week we will
focus on financial ratios. Do you believe some ratios (solvency,
profitability, liquidity) are more relevant to some stakeholders? Would
you expect other groups such as vendors or clients to use the ratios as
well?

DQ 2.What factors would you consider when comparing the ratios of
two companies? How can we make financial ratio comparisons a more
successful process?
WileyPLUS Assignment Week 2 Practice Quiz
Resource: WileyPLUS
Complete the Week 2 Practice Quiz in WileyPLUS.
Individual Assignment Ratio Analysis Assignment
Please go to Yahoo Finance (finance.yahoo.com).
Under the "Quote Lookup" please search for Kellogg Company.
On the left bar you will be able to access the Income Statement and
Balance Sheet for the company.
Option 1:
Calculate the current ratio, profit margin and debt/equity ratio. Explain
your interpretation of each.
Option 2:
Prepare a 500-word paper that responds to the following questions
(please use a question / answer format):
1. Has the profit increased or decreased from 2012 to 2013 and by how
much?
2. What is the percentage increase or decrease in selling general and
administrative expenses?

3. What is the percentage increase or decrease in net income?
4. Based on your answers above, what conclusion can you draw
regarding the firm's financial performance?
Individual Assignment Financial Statement Review
1. Select an American corporation.
2. Visit its website and download the Income Statement, Statement of
Stockholders Equity, Balance Sheet, and Statement of Cash Flows.
3. Complete the University of Phoenix Material: Financial Statement
Review Worksheet.
4. Submit the completed worksheet, copies of the downloaded financial
statements, and a link to the website. Include all your calculations if
applicable.
5. Click the Assignment Files tab to submit your assignment.
Read More Courses Here.………… ACC 561 Week 2 DQ 1 | ACC 561
Week 2 DQ 2 | ACC 561 Week 2 Quiz | ACC 561 Week 2 Ratio Analysis
Assignment | ACC 561 Week 2 Financial Statement Analysis
ACC 561 Week 3 Complete
DQ 1.How can costing errors decrease your company's profitability?
What can you do to prevent them?

DQ 2.While the text presents job and processing costing systems as
virtual "polar extremes," there are many situations where it may be
best for a company to use a hybrid system that combines attributes of
both systems. Describe such a situation and discuss how the hybrid
system may be better than either pure job or pure process systems.
WileyPLUS Assignment Week 3 Practice Quiz
Resource: WileyPLUS
Complete the Week 3 Practice Quiz in WileyPLUS.
Individual Assignment Costing Systems Assessment
Please review the information for Parlex Corporation on Page 836,
Chapter 15 of your textbook (under Activity BYP15-3).
Prepare a 1000-word paper or a 5-slide power point presentation that
addresses the following questions:
(a) Parlex management discusses the job order cost system employed
by their company. What are several advantages of using the job order
approach to costing? What are the disadvantages of the system?
(b) Contrast the products produced in a job order environment, like
Parlex, to those produced when process cost systems are used.
(c) Would Parlex benefit from a hybrid system? Why or why not?
Learning Team Assignment
Access BYP17-2 activity on Ideal Manufacturing (Page 935 of Chapter
17).
Complete the attached Excel spreadsheet.

Submit your completed excel spreadsheet using the Assignments Tab.
Read More Courses Here.………… ACC 561 Week 3 DQ 1 | ACC 561
Week 3 DQ 2 | ACC 561 Week 3 Quiz | ACC 561 Week 3 Costing
Systems Assessment | ACC 561 Week 3 Learning Team Assignment
ACC 561 Week 4 Complete
DQ 1.What are some important elements of the break-even (BE)
analysis? What type of decisions can you take using BE?
DQ 2.Class, what are some examples of fixed and variable costs in your
organizations? Do you believe a company can benefit from having a
cost structure that would focus on one type of costs over another (for
instance, a cost structure that would comprise 80% of variable costs
and 20% of fixed costs or vice-versa)?
WileyPLUS Assignment Week 4 Practice Quiz
Resource: WileyPLUS
Complete the Week 4 Practice Quiz in WileyPLUS.
WileyPLUS Assignment Week 4 Assignment
Resource: WileyPLUS
Complete the following Week 4 Assignment in WileyPLUS:
• Exercise 15-5
• Exercise 16-3

• Exercise 17-1
Learning Team Reflection
Managerial accounting is all about making informed decisions. Cost
volume- profit (CVP) analysis is one of the most powerful tools available
for managers to crunch numbers, gain a thorough understanding of a
situation, and perform a what-if analysis.
Write a paper of no more than 750 words or a 5-slide power point
presentation in which you discuss the activities and learning this week
and share how CVP analysis may be helpful to an entrepreneur starting
a new business.
Provide at least three situations or strategic decisions that may be
reached using CVP analysis.
Click the Assignment Files tab to submit your assignment.
Read More Courses Here.………… ACC 561 Week 4 DQ 1 | ACC 561
Week 4 DQ 2 | ACC 561 Week 4 Quiz | ACC 561 Week 4 WileyPLUS
Assignment | ACC 561 Week 4 Learning Team Reflection
ACC 561 Week 5 Complete
DQ 1.Many upper level managers consider the budget to be a living
document. What do they mean by this and do you agree with their
assertion? Why? Why not?

DQ 2.How would you conduct a variance analysis at work? How can it
help you or your company?
WileyPLUS Assignment Week 5 Practice Quiz
Resource: WileyPLUS
Complete the Week 5 Practice Quiz in WileyPLUS.
WileyPLUS Assignment Week 5 Assignment
Resource: WileyPLUS
Complete the following Week 5 Assignment in WileyPLUS:
• Brief Exercise 18-8
• Brief Exercise 18-10
• Brief Exercise 18-11
• Brief Exercise 19-16
• Exercise 19-17
• Brief Exercise 21-1
• Brief Exercise 21-4
Individual Assignment Budgeting Assignment
Compare and contrast each of the following budgets:
1. Master
2. Sales

3. Cash
4. Production
Explain how each budget can be used, what decisions may be derived
from it and what information does each one include.
You can submit your assignment in the following formats:
• Essay paper
• Table
• Mind map
• Chart
Learning Team Assignment
Team Budget Analysis Simulation Exercise
Please discuss with your teammates the business case below from your
textbook - Exercise BYP20-1, page 1072.
The grade provided for this assignment will be based on your
participation (frequency and quality) in the discussions. To obtain full
credit, you should post a minimum of four substantive posts during the
week on a minimum of two separate days. Each post should be
substantive and provide insight on one of the three questions posted at
the end of the exercise (a to c). The idea of the assignment is that you
can work on a "team" environment to find solutions to these questions.
At the end of your discussions, the team should select five top ideas to
revise the existing budgeting process and write a brief, one page
"memo" to your boss (instructor) outlining these selected ideas.

Your grade will be based on:
Participation (four posts, two days): 4 points
Results Memo: 1 point
Additional instructions:
• Ensure your posts reflect on any of the suggested questions (a to c).
• Your deliverable should be presented in a "memo" format addressed
to your boss.
• Work on the team discussions assuming you are in a real-life work
environment.
• Remember that your grade will be mostly based on the quality of your
discussions.
DECISION MAKING ACROSS THE ORGANIZATION
BYP20-1 Palmer Corporation operates on a calendar-year basis. It
begins the annual budgeting process in late August when the president
establishes targets for the total dollar sales and net income before
taxes for the next year.
The sales target is given first to the marketing department. The
marketing manager formulates a sales budget by product line in both
units and dollars. From this budget, sales quotas by product line in units
and dollars are established for each of the corporation's sales districts.
The marketing manager also estimates the cost of the marketing
activities required to support the target sales volume and prepares a
tentative marketing expense budget.

The executive vice president uses the sales and profit targets, the sales
budget by product line, and the tentative marketing expense budget to
determine the dollar amounts that can be devoted to manufacturing
and corporate office expense. The executive vice president prepares
the budget for corporate expenses. She then forwards to the
production department the product-line sales budget in units and the
total dollar amount that can be devoted to manufacturing.
The production manager meets with the factory managers to develop a
manufacturing plan that will produce the required units when needed
within the cost constraints set by the executive vice president.
The budgeting process usually comes to a halt at this point because the
production department does not consider the financial resources
allocated to be adequate.
When this standstill occurs, the vice president of finance, the executive
vice president, the marketing manager, and the production manager
meet together to determine the final budgets for each of the areas.
This normally results in a modest increase in the total amount available
for manufacturing costs and cuts in the marketing expense and
corporate office expense budgets. The total sales and net income
figures proposed by the president are seldom changed. Although the
participants are seldom pleased with the compromise, these budgets
are final. Each executive then develops a new detailed budget for the
operations in his or her area.
None of the areas has achieved its budget in recent years. Sales often
run below the target.

When budgeted sales are not achieved, each area is expected to cut
costs so that the president's profit target can be met. However, the
profit target is seldom met because costs are not cut enough.
In fact, costs often run above the original budget in all functional areas
(marketing, production, and corporate office).
The president is disturbed that Palmer has not been able to meet the
sales and profit targets.
He hired a consultant with considerable experience with companies in
Palmer's industry. The consultant reviewed the budgets for the past 4
years. He concluded that the product line sales budgets were
reasonable and that the cost and expense budgets were adequate for
the budgeted sales and production levels.
Instructions
(a) Discuss how the budgeting process employed by Palmer
Corporation contributes to the failure to achieve the president's sales
and profit targets.
(b) Suggest how Palmer Corporation's budgeting process could be
revised to correct the problems.
(c) Should the functional areas be expected to cut their costs when
sales volume falls below budget? Explain your answer.
Read More Courses Here.………… ACC 561 Week 5 DQ 1 | ACC 561
Week 5 DQ 2 | ACC 561 Week 5 Quiz | ACC 561 Week 5 WileyPLUS
Assignment | ACC 561 Week 5 Budgeting Assignment | ACC 561 Week
5 Learning Team Assignment

ACC 561 Week 6 Complete
DQ 1.Can you provide some examples of sunk, opportunity and erosion
costs?
DQ 2.Can you think of one situation where you can use and apply
incremental analysis at home or work? Explain briefly the situation and
how you would conduct the analysis.
WileyPLUS Assignment Week 6 Practice Quiz
Resource: WileyPLUS
Complete the Week 6 Practice Quiz in WileyPLUS.
WileyPLUS Assignment Week 6 Assignment
Resource: WileyPLUS
Complete the following Week 6 Assignment in WileyPLUS:
• Exercises: 20-3
• Exercises: 22-1
• Brief Exercise 23-3
• Brief Exercise 23-4
• Brief Exercise 23-6
WileyPLUS Assignment Final Examination
Resource: WileyPLUS

Complete the Final Examination in WileyPLUS. Results are auto graded
and sent to your instructor.
Read More Courses Here.………… ACC 561 Week 6 DQ 1| ACC 561
Week 6 DQ 2 | ACC 561 Week 6 Quiz | ACC 561 Week 6 WileyPLUS
Assignment | ACC 561 Week 6 Final Exam
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