03 Aug Training—Accounting Tools and Practices
Order Instructions
Your Role
You are a regional manager for Urban. You have recently brought a new district manager on board and want to ensure he has the knowledge and tools needed to effectively do his job. Develop a training manual (3-4 pages) to ensure new hires have a solid understanding of income statements, balance sheets, and the elements that go into them.
Requirements
Training materials requirements:
3–4 pages for a training manual.
• in addition to the training deck or manual materials, include:
o Title (page).
o References (page).
o Appendix with supporting materials
• At least two APA-formatted references.
The organization you work for is Urban Outfitters. Use the U.S. Securities and Exchange Commission website to find the Urban Outfitter’s 2016–2017 financial statement’s summary of significant accounting policies. Look at the data for 2015, 2016, and 2017 for the following examples of essential elements you need to cover with John and ensure his understanding.
• Advertising. Examine the criteria used to expense and capitalize advertising costs and where these costs appear in the financial statement.
• Store opening costs. Examine how store opening and organization costs were handled and where these costs appear in the financial statement.
• Website development costs. Examine the approaches taken during the application and infrastructure development stage and the planning and operating stage.
• Analyze the importance of Notes to financial statements in interpreting financial statements.
• Explain how the accounting method the company uses affects the financial statements. Explain the accounting method’s effect on specific financial statements clearly and with sufficient detail to demonstrate why the company chose it.
• Explain how the financial statements would differ if another method were used to capture the costs.
• Compares how two accounting methods differ in their effects on the financial statements and provides examples and details to clarify comparisons.
• If you have a preference for capitalizing or expensing these costs, explain why it is your preference.
