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<strong>ACC</strong> <strong>561</strong><br />
<strong>Final</strong> <strong>Exam</strong><br />
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<strong>ACC</strong> <strong>561</strong> Week 1 Complete<br />
DQ 1.Why are financial statement important to internal users, such as<br />
employees, managers, <strong>and</strong> directors?<br />
DQ 2.Can you think of any reasons why companies may want to<br />
maximize profit on its income statement? What about minimizing<br />
profit? What ethical implications may these objectives have?
WileyPLUS Assignment Week 1 Practice Quiz<br />
Resource: WileyPLUS<br />
Complete the Week 1 Practice Quiz in WileyPLUS.<br />
WileyPLUS Assignment Week 1 Assignment<br />
Resource: WileyPLUS<br />
Complete the following Week 1 Assignment in WileyPLUS:<br />
• Brief Exercise: 1-7<br />
• Brief Exercise: 1-8<br />
Individual Assignment Financial Statement Review<br />
Option 1:<br />
1. Select an American corporation.<br />
2. Visit its website <strong>and</strong> download the Income Statement, Statement of<br />
Stockholders Equity, Balance Sheet, <strong>and</strong> Statement of Cash Flows.<br />
3. Complete the University of Phoenix Material: Financial Statement<br />
Review Worksheet.<br />
4. Submit the completed worksheet, copies of the downloaded financial<br />
statements, <strong>and</strong> a link to the website. Include all your calculations if<br />
applicable.<br />
5. Click the Assignment Files tab to submit your assignment.<br />
Option 2:
1. Create a table that lists each type of financial statements – income<br />
statement, balance sheet, cash flow statement <strong>and</strong> statement of equity<br />
under Column.<br />
2. Add two columns. Column 2 should be labeled "Purpose" <strong>and</strong><br />
Column 3 should be labeled "Users".<br />
3. Complete the table. Under Column 2 explain the purpose <strong>and</strong><br />
content of each statement. Under Column 3 list the users of each <strong>and</strong><br />
explain how they would use such statements.<br />
4. Click the Assignment Files tab to submit your assignment.<br />
Read More Courses Here.………… <strong>ACC</strong> <strong>561</strong> Week 1 DQ 1 | <strong>ACC</strong> <strong>561</strong><br />
Week 1 DQ 2 | <strong>ACC</strong> <strong>561</strong> Week 1 Quiz | <strong>ACC</strong> <strong>561</strong> Week 1 WileyPLUS<br />
Assignment | <strong>ACC</strong> <strong>561</strong> Week 1 Financial Statement Review | <strong>ACC</strong> <strong>561</strong><br />
Week 2 DQ 1<br />
<strong>ACC</strong> <strong>561</strong> Week 2 Complete<br />
DQ 1.Last week we discussed how different stakeholders (managers,<br />
investors, lenders, public) use financial statements. This week we will<br />
focus on financial ratios. Do you believe some ratios (solvency,<br />
profitability, liquidity) are more relevant to some stakeholders? Would<br />
you expect other groups such as vendors or clients to use the ratios as<br />
well?
DQ 2.What factors would you consider when comparing the ratios of<br />
two companies? How can we make financial ratio comparisons a more<br />
successful process?<br />
WileyPLUS Assignment Week 2 Practice Quiz<br />
Resource: WileyPLUS<br />
Complete the Week 2 Practice Quiz in WileyPLUS.<br />
Individual Assignment Ratio Analysis Assignment<br />
Please go to Yahoo Finance (finance.yahoo.com).<br />
Under the "Quote Lookup" please search for Kellogg Company.<br />
On the left bar you will be able to access the Income Statement <strong>and</strong><br />
Balance Sheet for the company.<br />
Option 1:<br />
Calculate the current ratio, profit margin <strong>and</strong> debt/equity ratio. Explain<br />
your interpretation of each.<br />
Option 2:<br />
Prepare a 500-word paper that responds to the following questions<br />
(please use a question / answer format):<br />
1. Has the profit increased or decreased from 2012 to 2013 <strong>and</strong> by how<br />
much?<br />
2. What is the percentage increase or decrease in selling general <strong>and</strong><br />
administrative expenses?
3. What is the percentage increase or decrease in net income?<br />
4. Based on your answers above, what conclusion can you draw<br />
regarding the firm's financial performance?<br />
Individual Assignment Financial Statement Review<br />
1. Select an American corporation.<br />
2. Visit its website <strong>and</strong> download the Income Statement, Statement of<br />
Stockholders Equity, Balance Sheet, <strong>and</strong> Statement of Cash Flows.<br />
3. Complete the University of Phoenix Material: Financial Statement<br />
Review Worksheet.<br />
4. Submit the completed worksheet, copies of the downloaded financial<br />
statements, <strong>and</strong> a link to the website. Include all your calculations if<br />
applicable.<br />
5. Click the Assignment Files tab to submit your assignment.<br />
Read More Courses Here.………… <strong>ACC</strong> <strong>561</strong> Week 2 DQ 1 | <strong>ACC</strong> <strong>561</strong><br />
Week 2 DQ 2 | <strong>ACC</strong> <strong>561</strong> Week 2 Quiz | <strong>ACC</strong> <strong>561</strong> Week 2 Ratio Analysis<br />
Assignment | <strong>ACC</strong> <strong>561</strong> Week 2 Financial Statement Analysis<br />
<strong>ACC</strong> <strong>561</strong> Week 3 Complete<br />
DQ 1.How can costing errors decrease your company's profitability?<br />
What can you do to prevent them?
DQ 2.While the text presents job <strong>and</strong> processing costing systems as<br />
virtual "polar extremes," there are many situations where it may be<br />
best for a company to use a hybrid system that combines attributes of<br />
both systems. Describe such a situation <strong>and</strong> discuss how the hybrid<br />
system may be better than either pure job or pure process systems.<br />
WileyPLUS Assignment Week 3 Practice Quiz<br />
Resource: WileyPLUS<br />
Complete the Week 3 Practice Quiz in WileyPLUS.<br />
Individual Assignment Costing Systems Assessment<br />
Please review the information for Parlex Corporation on Page 836,<br />
Chapter 15 of your textbook (under Activity BYP15-3).<br />
Prepare a 1000-word paper or a 5-slide power point presentation that<br />
addresses the following questions:<br />
(a) Parlex management discusses the job order cost system employed<br />
by their company. What are several advantages of using the job order<br />
approach to costing? What are the disadvantages of the system?<br />
(b) Contrast the products produced in a job order environment, like<br />
Parlex, to those produced when process cost systems are used.<br />
(c) Would Parlex benefit from a hybrid system? Why or why not?<br />
Learning Team Assignment<br />
Access BYP17-2 activity on Ideal Manufacturing (Page 935 of Chapter<br />
17).<br />
Complete the attached Excel spreadsheet.
Submit your completed excel spreadsheet using the Assignments Tab.<br />
Read More Courses Here.………… <strong>ACC</strong> <strong>561</strong> Week 3 DQ 1 | <strong>ACC</strong> <strong>561</strong><br />
Week 3 DQ 2 | <strong>ACC</strong> <strong>561</strong> Week 3 Quiz | <strong>ACC</strong> <strong>561</strong> Week 3 Costing<br />
Systems Assessment | <strong>ACC</strong> <strong>561</strong> Week 3 Learning Team Assignment<br />
<strong>ACC</strong> <strong>561</strong> Week 4 Complete<br />
DQ 1.What are some important elements of the break-even (BE)<br />
analysis? What type of decisions can you take using BE?<br />
DQ 2.Class, what are some examples of fixed <strong>and</strong> variable costs in your<br />
organizations? Do you believe a company can benefit from having a<br />
cost structure that would focus on one type of costs over another (for<br />
instance, a cost structure that would comprise 80% of variable costs<br />
<strong>and</strong> 20% of fixed costs or vice-versa)?<br />
WileyPLUS Assignment Week 4 Practice Quiz<br />
Resource: WileyPLUS<br />
Complete the Week 4 Practice Quiz in WileyPLUS.<br />
WileyPLUS Assignment Week 4 Assignment<br />
Resource: WileyPLUS<br />
Complete the following Week 4 Assignment in WileyPLUS:<br />
• Exercise 15-5<br />
• Exercise 16-3
• Exercise 17-1<br />
Learning Team Reflection<br />
Managerial accounting is all about making informed decisions. Cost<br />
volume- profit (CVP) analysis is one of the most powerful tools available<br />
for managers to crunch numbers, gain a thorough underst<strong>and</strong>ing of a<br />
situation, <strong>and</strong> perform a what-if analysis.<br />
Write a paper of no more than 750 words or a 5-slide power point<br />
presentation in which you discuss the activities <strong>and</strong> learning this week<br />
<strong>and</strong> share how CVP analysis may be helpful to an entrepreneur starting<br />
a new business.<br />
Provide at least three situations or strategic decisions that may be<br />
reached using CVP analysis.<br />
Click the Assignment Files tab to submit your assignment.<br />
Read More Courses Here.………… <strong>ACC</strong> <strong>561</strong> Week 4 DQ 1 | <strong>ACC</strong> <strong>561</strong><br />
Week 4 DQ 2 | <strong>ACC</strong> <strong>561</strong> Week 4 Quiz | <strong>ACC</strong> <strong>561</strong> Week 4 WileyPLUS<br />
Assignment | <strong>ACC</strong> <strong>561</strong> Week 4 Learning Team Reflection<br />
<strong>ACC</strong> <strong>561</strong> Week 5 Complete<br />
DQ 1.Many upper level managers consider the budget to be a living<br />
document. What do they mean by this <strong>and</strong> do you agree with their<br />
assertion? Why? Why not?
DQ 2.How would you conduct a variance analysis at work? How can it<br />
help you or your company?<br />
WileyPLUS Assignment Week 5 Practice Quiz<br />
Resource: WileyPLUS<br />
Complete the Week 5 Practice Quiz in WileyPLUS.<br />
WileyPLUS Assignment Week 5 Assignment<br />
Resource: WileyPLUS<br />
Complete the following Week 5 Assignment in WileyPLUS:<br />
• Brief Exercise 18-8<br />
• Brief Exercise 18-10<br />
• Brief Exercise 18-11<br />
• Brief Exercise 19-16<br />
• Exercise 19-17<br />
• Brief Exercise 21-1<br />
• Brief Exercise 21-4<br />
Individual Assignment Budgeting Assignment<br />
Compare <strong>and</strong> contrast each of the following budgets:<br />
1. Master<br />
2. Sales
3. Cash<br />
4. Production<br />
Explain how each budget can be used, what decisions may be derived<br />
from it <strong>and</strong> what information does each one include.<br />
You can submit your assignment in the following formats:<br />
• Essay paper<br />
• Table<br />
• Mind map<br />
• Chart<br />
Learning Team Assignment<br />
Team Budget Analysis Simulation Exercise<br />
Please discuss with your teammates the business case below from your<br />
textbook - Exercise BYP20-1, page 1072.<br />
The grade provided for this assignment will be based on your<br />
participation (frequency <strong>and</strong> quality) in the discussions. To obtain full<br />
credit, you should post a minimum of four substantive posts during the<br />
week on a minimum of two separate days. Each post should be<br />
substantive <strong>and</strong> provide insight on one of the three questions posted at<br />
the end of the exercise (a to c). The idea of the assignment is that you<br />
can work on a "team" environment to find solutions to these questions.<br />
At the end of your discussions, the team should select five top ideas to<br />
revise the existing budgeting process <strong>and</strong> write a brief, one page<br />
"memo" to your boss (instructor) outlining these selected ideas.
Your grade will be based on:<br />
Participation (four posts, two days): 4 points<br />
Results Memo: 1 point<br />
Additional instructions:<br />
• Ensure your posts reflect on any of the suggested questions (a to c).<br />
• Your deliverable should be presented in a "memo" format addressed<br />
to your boss.<br />
• Work on the team discussions assuming you are in a real-life work<br />
environment.<br />
• Remember that your grade will be mostly based on the quality of your<br />
discussions.<br />
DECISION MAKING ACROSS THE ORGANIZATION<br />
BYP20-1 Palmer Corporation operates on a calendar-year basis. It<br />
begins the annual budgeting process in late August when the president<br />
establishes targets for the total dollar sales <strong>and</strong> net income before<br />
taxes for the next year.<br />
The sales target is given first to the marketing department. The<br />
marketing manager formulates a sales budget by product line in both<br />
units <strong>and</strong> dollars. From this budget, sales quotas by product line in units<br />
<strong>and</strong> dollars are established for each of the corporation's sales districts.<br />
The marketing manager also estimates the cost of the marketing<br />
activities required to support the target sales volume <strong>and</strong> prepares a<br />
tentative marketing expense budget.
The executive vice president uses the sales <strong>and</strong> profit targets, the sales<br />
budget by product line, <strong>and</strong> the tentative marketing expense budget to<br />
determine the dollar amounts that can be devoted to manufacturing<br />
<strong>and</strong> corporate office expense. The executive vice president prepares<br />
the budget for corporate expenses. She then forwards to the<br />
production department the product-line sales budget in units <strong>and</strong> the<br />
total dollar amount that can be devoted to manufacturing.<br />
The production manager meets with the factory managers to develop a<br />
manufacturing plan that will produce the required units when needed<br />
within the cost constraints set by the executive vice president.<br />
The budgeting process usually comes to a halt at this point because the<br />
production department does not consider the financial resources<br />
allocated to be adequate.<br />
When this st<strong>and</strong>still occurs, the vice president of finance, the executive<br />
vice president, the marketing manager, <strong>and</strong> the production manager<br />
meet together to determine the final budgets for each of the areas.<br />
This normally results in a modest increase in the total amount available<br />
for manufacturing costs <strong>and</strong> cuts in the marketing expense <strong>and</strong><br />
corporate office expense budgets. The total sales <strong>and</strong> net income<br />
figures proposed by the president are seldom changed. Although the<br />
participants are seldom pleased with the compromise, these budgets<br />
are final. Each executive then develops a new detailed budget for the<br />
operations in his or her area.<br />
None of the areas has achieved its budget in recent years. Sales often<br />
run below the target.
When budgeted sales are not achieved, each area is expected to cut<br />
costs so that the president's profit target can be met. However, the<br />
profit target is seldom met because costs are not cut enough.<br />
In fact, costs often run above the original budget in all functional areas<br />
(marketing, production, <strong>and</strong> corporate office).<br />
The president is disturbed that Palmer has not been able to meet the<br />
sales <strong>and</strong> profit targets.<br />
He hired a consultant with considerable experience with companies in<br />
Palmer's industry. The consultant reviewed the budgets for the past 4<br />
years. He concluded that the product line sales budgets were<br />
reasonable <strong>and</strong> that the cost <strong>and</strong> expense budgets were adequate for<br />
the budgeted sales <strong>and</strong> production levels.<br />
Instructions<br />
(a) Discuss how the budgeting process employed by Palmer<br />
Corporation contributes to the failure to achieve the president's sales<br />
<strong>and</strong> profit targets.<br />
(b) Suggest how Palmer Corporation's budgeting process could be<br />
revised to correct the problems.<br />
(c) Should the functional areas be expected to cut their costs when<br />
sales volume falls below budget? Explain your answer.<br />
Read More Courses Here.………… <strong>ACC</strong> <strong>561</strong> Week 5 DQ 1 | <strong>ACC</strong> <strong>561</strong><br />
Week 5 DQ 2 | <strong>ACC</strong> <strong>561</strong> Week 5 Quiz | <strong>ACC</strong> <strong>561</strong> Week 5 WileyPLUS<br />
Assignment | <strong>ACC</strong> <strong>561</strong> Week 5 Budgeting Assignment | <strong>ACC</strong> <strong>561</strong> Week<br />
5 Learning Team Assignment
<strong>ACC</strong> <strong>561</strong> Week 6 Complete<br />
DQ 1.Can you provide some examples of sunk, opportunity <strong>and</strong> erosion<br />
costs?<br />
DQ 2.Can you think of one situation where you can use <strong>and</strong> apply<br />
incremental analysis at home or work? Explain briefly the situation <strong>and</strong><br />
how you would conduct the analysis.<br />
WileyPLUS Assignment Week 6 Practice Quiz<br />
Resource: WileyPLUS<br />
Complete the Week 6 Practice Quiz in WileyPLUS.<br />
WileyPLUS Assignment Week 6 Assignment<br />
Resource: WileyPLUS<br />
Complete the following Week 6 Assignment in WileyPLUS:<br />
• Exercises: 20-3<br />
• Exercises: 22-1<br />
• Brief Exercise 23-3<br />
• Brief Exercise 23-4<br />
• Brief Exercise 23-6<br />
WileyPLUS Assignment <strong>Final</strong> <strong>Exam</strong>ination<br />
Resource: WileyPLUS
Complete the <strong>Final</strong> <strong>Exam</strong>ination in WileyPLUS. Results are auto graded<br />
<strong>and</strong> sent to your instructor.<br />
Read More Courses Here.………… <strong>ACC</strong> <strong>561</strong> Week 6 DQ 1| <strong>ACC</strong> <strong>561</strong><br />
Week 6 DQ 2 | <strong>ACC</strong> <strong>561</strong> Week 6 Quiz | <strong>ACC</strong> <strong>561</strong> Week 6 WileyPLUS<br />
Assignment | <strong>ACC</strong> <strong>561</strong> Week 6 <strong>Final</strong> <strong>Exam</strong><br />
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