Week 10 - Assignment: Financial Reporting Review of a Not-for-Profit Organization Overview Not-for-Profit (NFP) organizations are different from governmental entities in that they lack the authority of law to generate revenues and have greater flexibility in administering their budgets. Select one NFP organization in an area of interest...
Week 8 Assignment 2 - Audit Planning and Control Overview It is common industry knowledge that an audit plan provides the specific guidelines auditors must follow when conducting an external audit. External public accounting firms conduct external audits to ensure outside stakeholders that the company’s financial statements...
Week 8 Assignment - Creating a Partnership Tax Return Overview You are a senior tax accountant in the firm, Ernest & Rainhouse. Joe, a new junior accountant, has just completed an interview with a new client Harry, who is a general partner of Widget Unlimited. Harry is...
Order Instructions 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. ...
Order Instructions Select two of the differential factors identified by FASB that are of interest to you, and briefly explain why. Explain the factor and why it is different from a publicly traded company. Identify the accounting risks associated with each of the chosen factors. What would...
Order Instructions 1.) Evaluate incremental analysis giving specific details related to analyzing the relevant costs in a make and buy scenario. 2.) Imagine that you are the managerial accounting manager at General Motors. Management of Tesla has approached you about buying GM. Describe the elements needed to...
Order Instructions 1.) What is the major difference between a master budget and an operating budget? Compare the benefits and risks of creating and using these two budgets. 2.) Describe how standard costs are determined by a manufacturing company. Describe two types of standard cost variances that...
Order Instructions Ava has always wanted to own her own business. Last year, she took the leap and leased a pet store in a nearby city. She incurred start-up and large inventory costs for buying food in bulk. She also had to purchase four large tables...
Order Instructions For each of the following activities, describe the risks and associated counterbalancing controls and technology that could be used to mitigate the risks in the context of the payroll/HR function. Activity: Maintain and secure master payroll file/data Provide employee paychecks Provide filing of tax returns and other reports...
Week 4 Assignment 2 - Auditors and Regulatory Oversight Overview The Securities and Exchange Commission (SEC) regulates public companies. The SEC has found that some of these companies have violated GAAP by using creative accounting practices to mislead investors and creditors regarding the health of their company. Use...