The document provides instructions for completing a budget and variance analysis for an animal grooming business. Key points include: - Preparing a flexible budget using estimated annual unit sales of 3,500 animals. - Accounting for changes such as a prior period adjustment, equipment purchase, fee increases, unearned revenue, and cost increases. - Calculating variances based on the flexible budget and actual results.

1. ACC 561 Apply Week 1 Financial Statement L3 Harris
Technologies, Inc (May 2020 Syllabus)
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Company: L3 Harris Technologies, Inc. Stock Symbol: LHX Open the
link to the company's financial statements. The link is listed under the
Resources heading (see below). Review the data included with the
income statement, balance sheet, and cash flow tabs.
1. Explain the information provided by each financial statement and
include specific examples.
2. Review the accounting data and explain positive or negative trends.
How does this impact the business?
3. If you were an investor which financial statement AND accounts
would you review? Why?
4. If you were a member of the management team which financial
statement AND accounts would you review? Why?

2. Write a paper between 1,000 to 1,700 words. Format your paper
consistent with APA guidelines. Deliverable: Paper (MS Word) Review
your Originality Report generated from SafeAssign. A new originality
report is created with each attempt. Your last attempt is used for grading.
This is the website for the assignment
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ACC 561 Assignment Week 1 Financial Statements (May
2020) (Two Rivers Inc)
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Purpose of Assignment
This activity helps students recognize the significant role accounting
plays in providing financial information to management for decision
making through the evaluation of financial statements. This experiential
assignment requires students to use ratios to evaluate and analyze a
company’s liquidity, solvency, and profitability.
Two-Rivers Inc. (TRI) manufactures a variety of consumer products.
The company's founders have run the company for thirty years and are
now interested in retiring. Consequently, they are seeking a purchaser,
and a group of investors is looking into the acquisition of TRI. To
evaluate its financial stability, TRI was requested to provide its latest
financial statements and selected financial ratios. Summary information

3. provided by TRI is presented below.
Required:
a. Calculate the select financial ratios for the fiscal year Year 2. (use MS
word or excel but excel is more recommended)
b. Interpret what each of these financial ratios means in terms of TRI's
financial stability and operating efficiency.
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ACC 561 Week 2 Small business analysis (May 2020,
New Syllabus)
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You are interested in establishing a small business. Write a paper
between 1,000 and 1,500 words discussing your small-business idea.
Include the following:
1. Discuss your business and the product or service your small business
provides.
2. Identify which accounting method (i.e. cash versus accrual) you plan
to use for your business. Why did you select this choice?

4. 3. List six business transactions you expect to incur with your company.
State which accounts (from your chart of accounts) are impacted.
4. Discuss how each business transaction (see point 3) impacts your
income statement, balance sheet and statement of cash flow.
5. Select one organization type (sole proprietorship, partnership, C-
corporation, and S-corporation) for your company and explain why you
selected this option.
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ACC 561 Week 3 Ratio Analysis (BRIDGFORD) (May
2020 Syllabus)
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ACC/561: Accounting

5. Top of Form
Financial Analysis:
1. Open the Excel spreadsheet provided. Prepare a vertical analysis of
Bridgford’s income statement. Enter the percentages in columns C, E, G,
I and K. For additional information regarding vertical analysis, please
review the following.
Vertical Analysis
2. Prepare a projected income statement assuming sales increase by 3%
in 2020 and 6% in 2021.
Average your vertical analysis percentages for each income statement
account and enter the results in column L, rows 5 - 11. Example: Add
columns C, E, G, I and K and divide by 5.
(64.07+60.58+63.17+67.57+67.34)/5=64.55%. Column L, row 5 =
64.55%.

6. Enter your projected sales number in columns M & N, row 4.
Columns M and N: Multiply projected sales by the average percentage
for each income statement account.
3. Ratio Computations. Use Excel formulas to calculate financial ratios
listed with the income statement and balance sheet tabs. Calculate ratios
for seven years (i.e. 2015-2021). Do not prepare ratios that require data
from the 2020 and 2021 balance sheet. In this case, “N/A” is entered in
the appropriate cell. For additional information regarding ratios, please
review the following.
Financial Ratios
Note: If there is a discrepancy between the formula used in our text
versus the formula included with the above link, use the formula
incorporated with the above link.

7. 4. Loan: The written section of the project includes a loan discussion and
CFO questions and explanations. Use the following resources to
complete your analysis.
Form 10-K
Corporate Annual and Earnings Report
5. Chief Financial Officer Questions: Using the results of your
spreadsheet, what questions would you ask the CFO of Bridgford
Foods? Explain.
Bottom of Form

8. Reply
Week 3 Ratio Analysis and 10-K Review
Top of Form
Bottom of Form
Assignment Content
Top of Form
Prepare an analysis of the assigned company (600 - 2,000 words) in
order to secure a loan for the company. The loan will increase the
company's total liabilities by 3%. The assigned company is posted to the

9. conversation section in the upper right corner. The contents of the plan
should include the following:
1. Discuss the loan amount and how you plan to use the loan proceeds.
2. Use the Excel spreadsheet provided and complete the following.
a. Prepare a five year vertical analysis of the company’s income
statement.
b. Prepare a projected income statement for 2020 and 2021 assuming
sales increase by 3% and 6%.
c. Compute the ratios listed with the income statement.
d. Compute the ratios listed with the balance sheet.
3. Using the results of your spreadsheet, what questions would you ask
the CFO of the company? Explain.
The assigned company, spreadsheet, detailed instructions, and guidance
are provided during week three. To review this information select the
conversation icon in the upper right corner.

10. Format your paper consistent with APA guidelines. Deliverables: Paper
(MS Word) and Excel Spreadsheet. Review your Originality Report
generated from SafeAssign. A new originality report is created with each
attempt. Your last attempt is used for grading.
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ACC 561 Week 4 Business Analysis Super bakery (May
2020 Syllabus)
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Read the case study provided and write a paper between 1,000 and 1,700
words addressing the following questions.
1. You are a recent MBA graduate and were hired by the company as a
business consultant. Your objective is to identify areas for improvement.
Present three business recommendations to management and state how
this will impact the company's financial statements.

11. 2. Why did company management think it was necessary to install an
ABC system? Do you agree with their reasoning? Explain your answer.
3. Evaluate and recommend changes to the organization’s cost drivers.
State how this influences cost accounting results and business decision
capabilities.
4. Is job order or process costing a viable option for the company. Why
or why not?
Format your paper consistent with APA guidelines. Deliverable: Paper
(MS Word).

12. .............................................................................................
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ACC 561 Week 5 Cost analysis and Business Planning
(Kosama) (May 2020 Syllabus)
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Write a paper between 700 and 1,000 words addressing the following:
Part 1, Sections 1-2: Provide calculations and a solution for total
variable costs, break even in sales volume (number of members), break
even in sales (in dollars), and margin of safety.
Part 1, Section 3: Respond to the questions included with the case study.
Part 1, Section 4: Assume you decide to invest in the franchise. Provide
a description and estimates in dollars for monthly sales, variable and
fixed expenses. Explain how you determined each number and provide a
written list of assumptions.
A case study and instructions are provided during week five.

13. Case Study: In addition to regular gyms, nontraditional workout
concepts and centers such as Kosama are increasing in popularity.
Kosama is a franchise opportunity that offers members the opportunity
to improve their health and fitness level. To learn more about the
company visit kosama.com.
Part 1, Section 1: Assume the following revenue and cost break-down.
Revenue: Monthly membership fee = $28.
Costs:
-General fixed operating expenses = $3,975 per month.
-Equipment Lease = $410 per month.
-Towel service = $.50 per member based on volume.
-Mixed costs are equal to $275 per/month (fixed) plus $1.10 per
membership sale (variable).

14. -Total variable costs are not known.
-Estimated number of members required to break even is between 255
and 275 members per month.
Using the information provided estimate the amount of variable costs.
When performing your analysis, assume that the only fixed costs are the
estimated monthly operating expenses, equipment lease and the fixed
part of mixed costs. Show your work and all calculations.
Part 1, Section 2: Using the information from section 1. What would
monthly sales in members and dollars have to be to achieve a target net
income of $14,500 for the month? What is the margin of safety in
dollars? Show your work and all calculations.
Part 1, Section 3: Discuss how cost structure, relevant range, margin of
safety, cost behaviors, and CVP apply to an investment in the franchise.
How do you plan to use this in order to manage the business and plan for
profitability? What type of internal accounting reports would you
prepare? Why?
Part 1, Section 4: Assume you decide to invest in the franchise. Provide
a description and estimates in dollars for sales, variable and fixed
expenses. Explain how you determined each number and provide a
written list of assumptions.

15. The following is additional explanations and resources.
Part 1, Section 1: Use the following formula in order to determine total
variable costs.
Sales - Variable Costs - Fixed Costs = Net Income.
Add the problem data to the formula and solve for the missing piece of
the equation (i.e. variable costs).
1. Membership sales is equal to sales volume times the price per
member.
2. Total variable costs is not known. Enter X in the above formula.
3. Total fixed costs are provided with the problem. Enter fixed costs in
the above formula.
4. Net income at the break even is equal to zero. Enter 0 in the above
formula for net income.

16. 5. Solve the equation. X = total variable costs.
The above formula determines total variable costs at the break-even.
Part 1, Section 2: Use the solution from part 1, section 1 (i.e. variable
costs) in order to calculate the contribution margin (i.e. sales - variable
costs) on a per unit (member) basis. In addition to fixed costs, add
targeted net income equal to $14,500.
Contribution Margin:
Sales: membership sales times the price per member
Minus Variable Costs: See solution in part 1, section 1.
Equals: Contribution Margin in dollars
Contribution Margin in dollars / number of memberships = contribution
margin per member.
The next step is to determine what would monthly sales in members and
dollars have to be to achieve a target net income equal to $14,500 for the

17. month? Utilize the CVP formula (fixed costs / contribution margin per
member) to finalize the problem. Compute the margin of safety.
Resource - Enhance learning & understanding: For additional guidance
regarding cost volume profit analysis and related cost concepts please
review the following.
Cost Volume Profit
Franchise Agreement: As you review and analyze the franchise
opportunity it is important to develop a thorough understanding of the
franchise agreement prior to investing. The following is an article that
explains the basic fundamentals of an agreement.
Franchise Agreement
Part 1 Section 4: You need to estimate/project sales, variable, and fixed
expenses for your business. The first step is to determine a physical
location for your franchise (i.e. city & state). Once this is identified,
begin researching what the average monthly fee is for comparable
fitness clubs in your area. The monthly fee per customer will help you
determine sales revenue. The next step is to estimate your expenses. Do
you plan to buy a building or sign a lease? Real estate is typically leased
based on square footage. How many square feet does your business
require and what is the cost per square foot based on the location of your
business? In addition to the lease expense, do you expect to incur
additional fixed expenses such as the purchase of fitness equipment?

18. Finally, you need to determine all of your variable expenses. This could
include hourly wages, sales commissions, utilities, etc.
Assumptions: Explain how you developed estimates for sales revenue
and business expenses and list any assumptions.
Example:
1. Explain how you developed your monthly fee and volume estimates.
2. Discuss why you decided to rent or buy a building and the related
costs such as rent per square foot based on, in part, the location of your
business.
The key is to present the data in a professional manner so the end user
(business owner, etc.) can review the numbers, understand it, and
modify it in the future with little effort. If you use Excel add formulas so
you can modify the data to account for changes in activity. This will
help you manage your investment in the franchise. Example: What if
sales volume is more or less than your original estimate? In this case you
could change sale volume (number of members) and sales revenue and
variable expenses automatically change based on formulas in the
spreadsheet.
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19. ACC 561 Week 6 Budget Preparation And Variance
Analysis (June 2020 Syllabus)
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The purpose of this assignment is to evaluate and prepare a budget.
Resources: Excel File. Tutorials and links to Excel help files were
provided during week one of our class.
Instructions:
1. Download the Excel file provided. The file is available at the end of
week five.
2. Read the instructions tab.
3. Complete the Budget and Variance Analysis tab.
4. Submit the completed Excel file.

20. 1 Prepare a flexible budget using estimated annual unit sales =
3,500. Enter volume in the Budget and Variance Analysis tab, column
H, row 4. Enter all other data and calculations in the appropriate cells
(column H).
2 The company adopted the accrual method of accounting in 2019.
The cumulative affect of change in accounting principle, net of tax,
equal to $35K was recorded with their GAAP based financial
statements.
3 The company purchased equipment equal to $20,000. Terms: 5
year loan with an interest rate equal to 4.8% and $5,000 cash down
payment.
Depreciation: Straight-line method, 5 year useful life, no
residual value.
4 Increase the average animal fee by 1.75% for the first five
months and 2.85% for the remaining seven months of the year.
5 The owner’s sister is stationed in Europe with the military and
wants to open another location or help with animal training for the

21. military after she transitions to civilian life. Estimated start-up costs are
$25K.
She doesn’t know if this will occur nor is the owner definitively
planning for this option.
6 The owner is evaluating regional competitors for a potential
business acquisition. Approximately $5,000 will be invested with a
third party search firm in 2020.
7 Excess cash was invested in an S&P 500 Index fund with
estimated annual capital gain and dividend income equal to $11,000.
8 The company sold grooming equipment for a $500 dollar gain.
However, the equipment is not expected to be delivered to the buyer nor
will the owner receive payment.
9 The company is diversifying into animal training and recorded
unearned income in 2019 equal to $175,000 for cash advances from the
U.S. government. The company expects to train several animals for
special operation forces in 2020.
Earned income is estimated to be $125,000.

22. 10 Increase the variable cost per unit (animal) by 2.75%. This
applies to all variable cost categories (excluding advertising, bedding,
and specialty food).
11 The driver for bedding and specialty food is the number of non-
traditional animals. The company expect 320 animals per year at an
average cost of $1.75 per animal for bedding and $1.35 per animal for
specialty food.
12 The company plans to relocate the business. This may increase
rent by $750.
13 The company uses a dated advertising program including the
yellow pages and billboard signs. The company plans to reduce costs
and increase effectiveness by investing in an online campaign.
The cost structure changes to a mixed cost and includes $1200
fixed plus variable costs. The variable cost is equal to .05 per online
view plus $4.00 for appointments scheduled online.
The company expects 1,550 views and 225 scheduled
appointments.
14 Use the skills you learned from the week five project. Compute
the break even point in units and dollars. Compute the margin of safety.

23. Enter the information in the Budget and Variance Analysis tab, rows 50-
56.
15 Use formulas to compute variances and explain why the
variances are positive or negative. Enter formulas in the Budget and
Variance Analysis tab column J. Write your explanations in column L.
Download the Excel file provided. Your responsibility is to calculate
prior year actual results and prepare a flexible budget. Use prior year
data to complete the 2018 variable costing income statement. The
flexible budget includes several changes to the data. The changes are
listed in the Excel file / Instructions Tab.
Excel: In order to minimize errors, improve accuracy, and increase
efficiency use formulas in all cells. If you need assistance with Excel
review the week one questions thread. Included therein are three options
to help you advance your Excel skills. Two links at the bottom are titled
“Formula Overview” and “Excel - Basic Math”. The third option is
Excel Essential Training (week one learning activities). The tutorials
will help you with, in part, formulas and spreadsheet format.

24. Video: In order to gain experience and insight please review the
following video. It is a simple presentation and will help everyone
develop a basic understanding of flexible budgets. The video was
created by a third party. There are additional videos included with the
Bing search as well.
Flexible Budget Example
Flexible Budget Guidance: For additional information regarding flexible
budgets please review the following.
What is a flexible budget?
Based on the example, fixed expenses do not change with volume.
Contrary, variable expenses change with volume. With respect to the
case study the same principles apply. The only difference is that our
variable expenses will change based on sales volume instead of machine
hours.
Example:
Sales Volume 2,640

25. Feed cost per animal 3.13
Total feed cost = 3,000*3.23=8,263
Advertisement, Bedding and Specialty Food Expense: Advertisement is
a fixed expense at the 2,640 volume level (column F). As a result,
column F, row 17 is equal to -0-. However, the expense is considered a
mixed cost (fixed and variable) with the flexible budget (column H).
Bedding and specialty food does not apply to the prior year income
statement (column F). As a result, column F, rows 18 and 19 is equal to -
0-. For further clarification my suggestion is to read the instructions tab.
Variance and Variance Explanation: A variance is the difference
between two numbers. From a budget perspective we typically compare
actual business results to our budget. Material deviations are analyzed to
help us plan, in part, cash flow, revenue projections, expense levels, and
to make informed business decisions.
Calculate the variance for all items listed on the spreadsheet (i.e. sales,
all variable and fixed expenses, contribution margin, net income, and the
break even computation).
Column J: Enter the difference between actual results and the budget.
Column L: Explain the difference

26. .............................................................................................
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ACC 561 Week 6 Budget Preparation And Variance
Analysis (May 2020 Syllabus)
For more course tutorials visit
www.tutorialrank.com
The purpose of this assignment is to evaluate and prepare a budget.
Resources: Excel File. Tutorials and links to Excel help files were
provided during week one of our class.
Instructions:
1. Download the Excel file provided. The file is available at the end of
week five.
2. Read the instructions tab.
3. Complete the Budget and Variance Analysis tab.

27. 4. Submit the completed Excel file.
Download the Excel file provided. Your responsibility is to calculate
prior year actual results and prepare a flexible budget. Use prior year
data to complete the 2018 variable costing income statement. The
flexible budget includes several changes to the data. The changes are
listed in the Excel file / Instructions Tab.
Excel: In order to minimize errors, improve accuracy, and increase
efficiency use formulas in all cells. If you need assistance with Excel
review the week one questions thread. Included therein are three options
to help you advance your Excel skills. Two links at the bottom are titled
“Formula Overview” and “Excel - Basic Math”. The third option is
Excel Essential Training (week one learning activities). The tutorials
will help you with, in part, formulas and spreadsheet format.
Video: In order to gain experience and insight please review the
following video. It is a simple presentation and will help everyone
develop a basic understanding of flexible budgets. The video was
created by a third party. There are additional videos included with the
Bing search as well.

28. Flexible Budget Example
Flexible Budget Guidance: For additional information regarding flexible
budgets please review the following.
What is a flexible budget?
Based on the example, fixed expenses do not change with volume.
Contrary, variable expenses change with volume. With respect to the
case study the same principles apply. The only difference is that our
variable expenses will change based on sales volume instead of machine
hours.
Example:
Sales Volume 2,640
Feed cost per animal 3.13
Total feed cost = 3,000*3.23=8,263
Advertisement, Bedding and Specialty Food Expense: Advertisement is
a fixed expense at the 2,640 volume level (column F). As a result,

29. column F, row 17 is equal to -0-. However, the expense is considered a
mixed cost (fixed and variable) with the flexible budget (column H).
Bedding and specialty food does not apply to the prior year income
statement (column F). As a result, column F, rows 18 and 19 is equal to -
0-. For further clarification my suggestion is to read the instructions tab.
Variance and Variance Explanation: A variance is the difference
between two numbers. From a budget perspective we typically compare
actual business results to our budget. Material deviations are analyzed to
help us plan, in part, cash flow, revenue projections, expense levels, and
to make informed business decisions.
Calculate the variance for all items listed on the spreadsheet (i.e. sales,
all variable and fixed expenses, contribution margin, net income, and the
break even computation).
Column J: Enter the difference between actual results and the budget.
Column L: Explain the difference