Acc 561 week 5 discussion question 2

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The file ACC 561 Week 5 Discussion Question 2 has answers
on these questions: "Review different budgets used in your
organization or in an organization with which you are
familiar. What are the uses of the types of budgets you
reviewed?"
Deadline: ( ), Business - Accounting
Week1 D1:
As you have learned in this week’s readings the Accounting
Equation is + Owners’ Equity. Is the accounting equation true
in all instances? Provide sample transactions from your own
experiences to demonstrate the validity of the Accounting
Equation.
D2: What does the term account mean? What are the
different classifications of accounts? How do the rules for
debits and credits impact accounts? Please provide an
example of how debits and credits impact accounts.
Assignment: (see attached file)
Week2 D1: Financial statements are a product of the
accounting cycle. Think about two different companies: a
manufacturing company, and a retail company. Why would
different companies have different accounting cycles?
Would you expect the steps of the accounting cycle to be the
same for each company? Why or why not?
D2:
What is the purpose of a bank reconciliation? What are the
reasons for differences between the cash reported in the
accounting records and the cash balance in the bank

2. statements?
Assignment: See attached file
Week3 D1:
The controller of Sagehen Enterprises believes that the
company should switch from the LIFO method to the FIFO
method. The controller’s bonus is based on the next
income. It is the controller’s belief that the switch in
inventory methods would increase the net income of the
company. What are the differences between the LIFO and
FIFO methods?
D2: A variety of depreciation methods are used to allocate
the cost of an asset to all of the accounting periods benefited
by the use of the asset. Your client has just purchased a
piece of equipment for $100,000. Explain the concept of
depreciation. Which of the following depreciation methods
would you recommend: straight-line depreciation, double
declining balance method, or an alternative method?
Assignment: see attached files
Week4 D1:
What is a current liability? From the perspective of a user of
financial statements, why do you believe current liabilities
are separated from long-term liabilities? Based on your
current experience as well as any additional research you
may have done provide two examples of situations where
businesses collect monies from customers and employees
and reports these amounts as a current liability.
D2: A client comes to you thinking about starting a consulting
business. Your client is specifically interested in what type of
entity should be created for this new business. Based on
your readings or any additional research you may have done,
discuss the advantages and disadvantages of the following:

3. sole proprietorship, partnership, and corporation. Based on
these advantages and disadvantages provide a clear
recommendation to your client.
Assignment: see attached file
Week5 D1: Ratios provide the users of financial statements
with a great deal of information about the entity. Do ratios
tell the whole story? How could liquidity ratios be used by
investors to determine whether or not to invest in a
company?
D2:
Year Ending December 2012
Year Ending December 2011
Year Ending December 2010
Revenues
40,000
35,000
33,000
Operating Expenses
Salaries
15,000
10,000
9,000
Maintenance and Repairs
6,000
9,000
10,000
Rental Expense
2,500
2,500
2,500

4. Depreciation
2,000
2,000
2,000
Fuel
4,000
3,500
2,500
Total Operating Expenses
29,500
27,000
26,000
Operating Income
10,500
8,000
7,000
Sales and Administrative Expenses
6,000
4,000
3,000
Interest Expense
2,500
2,000
1,000
Net Income
2,000
2,000
3,000
Above is a comparative income statement for Cecil, Inc. for
the years 2010, 2011, and 2012. Calculate the profit margin
for each of these years. Comment on the profit margin

5. trend.
Assignment: see attached file
Final Paper:
Focus of the Final Paper
Write a five-to seven-page financial statement analysis of a
public company, formatted according to APA style as outlined
in the Ashford Writing Center. In this analysis you will discuss
the financial health of this company with the ultimate goal of
making a recommendation to other investors. Your paper
should consist of the following sections: introduction,
company overview, horizontal analysis, ratio analysis, final
recommendation, and conclusions.
Here is a breakdown of the sections within the body of the
assignment:
Company Overview
Provide a brief overview of your company (one to two
paragraphs at most). What industry is it in? What are its
main products or services? Who are its competitors?
Horizontal Analysis of Income Statement and Balance Sheet
Prepare a three-year horizontal analysis of the income
statement and balance sheet of your selected company.
Discuss the importance and meaning of horizontal analysis.
Discuss both the positive and negative trends presented in
your company.
Ratio Analysis
Calculate the current ratio, quick ratio, cash to current
liabilities ratio, over a two-year period. Discuss and interpret
the ratios that you calculated. Discuss potential liquidity
issues based on your calculations of the current and quick
ratios. Are there any factors that could be erroneously
influencing the results of the ratios? Discuss liquidity issues

6. of competitive companies within the same industry.
Recommendation
Based on your analysis would you recommend an individual
invest in this company? What strengths do you see? What
risks do you see? It is perfectly acceptable to state that you
would recommend avoiding this company as long as you
provide support for your position.
Writing the Final Paper
1. Must be five to seven double-spaced pages in length, and
formatted according to APA style as outlined in the Ashford
Writing Center.
2. Must include a title page with the following:
a. Title of paper
b. Student’s name
c. Course name and number
d. Instructor’s name
e. Date submitted
3. Must begin with an introductory paragraph that has a
succinct thesis statement.
4. Must address the topic of the paper with critical thought.
5. Must end with a conclusion that reaffirms your thesis.
6. Must document all sources in APA style, as outlined in the
Ashford Writing Center.
7. Must include a separate reference page, formatted
according to APA style as outlined in the Ashford Writing
Center.
Choose a college that has an environment you'd enjoy
exploring. In addition to a beautiful campus, your school
should be in a city or town that you would enjoy exploring.
You are going to be here for four years and might move into

7. the surrounding community when you finish college, so make
sure you enjoy where you will be living and studying....
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