Devry acct 504 complete course latest 2016 feb

Devry ACCT 504 Complete
Course-Latest 2016 Feb
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Devry ACCT 504 Complete Course-Latest 2016 Feb
(All Discussion, Case Study ,Full Course Project And Final)
Question
Devry Acct504 Week 1 Discussion DQ1 & DQ 2 Latest 2016 Jan.
DQ 1
The discussion in this area will revolve around what accounting is, who the key
parties in the financial reporting process are, the role of generally accepted
accounting principles in the preparation of financial statements, and the regulatory
environment of financial reporting in the United States. The information being
discussed here will be found partly in Chapters 1 and 2.
DQ 2
Details of Financial Statements and Ratios (graded)
For this discussion, we will talk about the primary financial statements published
by a corporation, the various classifications used in a balance sheet, the
relationships among different financial statements, and how the numbers from the
different financial statements are analyzed together to evaluate the financial
position and performance of a company. The information being discussed here will be
found partly in Chapter 1 and mostly in Chapter 2.
In order to keep our discussion organized, we will go according to the following
plan.
Balance sheet (We will begin with this statement.)
Income statement (We will begin this discussion on Wednesday morning.)
Statement of retained earnings (We will begin this discussion on Thursday night.)
Statement of cash flows (We will begin this discussion on Friday night.)
Earnings per share, current ratio, and debt to total assets (We will begin this
discussion on Saturday night.)
Let's begin by asking the question: What is the purpose of a balance sheet? What
information does it provide?
DQ 1
Accounting Equation and Accounting Cycle (graded)
In this area, we will discuss the significance of the accounting equation, the rules
of debit and credit, and the steps in the accounting cycle. We will talk about
recording of transactions, normal balances, and the creation of the trial balance.

Let's begin by asking this question: What is the role of the accounting equation in
the analysis of business transactions?
DQ 2
Accrual Accounting and Adjusting Entries (graded)
In this area, we will talk about the difference between cash-basis and accrual-basis
accounting, the importance of revenue recognition and matching principles, and the
role of adjusting and closing entries in the preparation of the income statement,
statement of retained earnings, and balance sheet.
How is cash-basis accounting different from accrual-basis accounting?
DQ 1
Merchandising Operations and Income Statements (graded)
In this area, we will discuss the accounting for inventory transactions of
merchandising companies, the two formats of preparing the income statement, and how
to evaluate the profitability of a merchandising company.
How is the income statement of a merchandising company different from that of a
service company?
DQ 2
Inventory Cost-Flow Assumptions (graded)
In this area, we will talk about how companies determine the year-end inventory value
and cost of goods sold using one of the cost-flow assumptions. We will also discuss
the impact of choosing a certain cost-flow assumption on the tax liability and other
financial statement numbers of a company. Finally, we will discuss how to analyze
inventory numbers.
Why is inventory important for a business? How is inventory different from other
assets of the business?
DQ 1

Understanding Internal Control and Reporting Cash (graded)
In this thread, we will talk about the importance of internal control in a business
organization and the definition and reporting of cash on the balance sheet.
What is internal control, and what are the objectives of a good internal control
structure in an organization?
DQ 2
Accounting For and Reporting Receivables (graded)
Receivables constitute an important line item on a company's balance sheet. In this
thread, we will discuss the accounting for receivables, the ways to estimate
uncollectible accounts, and how companies manage their receivables.
How do companies account for the possibility that some of their customers might not
pay down the road?
DQ 1
Plant Assets and Intangibles (graded)
Companies have a significant amount of investment in long-lived assets, which include
property, plant and equipment (commonly referred to as plant assets), and intangible
assets.
Let's begin by talking about plant assets. Can you tell us what kind of plant assets
are used in your company or place of business? Do you have an estimate of the amount
invested in those plant assets?
DQ 2
Accounting for Liabilities (graded)

In this area, we will discuss different types of liabilities and understand how to
account for and report those liabilities.
Why are liabilities classified on a balance sheet as current and noncurrent? Who
wants to know? What is the benefit of knowing this information?
DQ 1
Accounting for and Reporting Equity (graded)
Stockholders' equity is an important heading in a corporate balance sheet. Let's
begin the discussion of stockholders' equity by asking: How is the stockholders'
equity section of a corporate balance sheet different from that in a single-owner
business?
DQ 2
Statement of Cash Flows (graded)
The statement of cash flows is an important financial statement that is required to
be released along with the income statement and balance sheet by every publicly
traded company. We did not have this requirement prior to the year 1988.
Let's begin our discussion by asking this question: When we already have the income
statement and balance sheet to tell us about the financial performance and financial
health of a company, why was there a need to require companies to prepare a statement
of cash flows?
DQ 1
Issues in Income Reporting (graded)
By now, we all know that an income statement portrays the year-to-date performance
of a business. However, the bottom-line figure in the income statement (that is, net
income) is influenced by what is reported in the statement under the categories of
revenues and expenses. Therefore, readers of the income statement have to carefully
examine the income statement in evaluating the future profitability of a business.

What is the concept of sustainable income? Please describe it in your own words. Can
you give an example of what this number may look like by using the income statement
of a real-life company?
DQ 2
Different Tools of Financial Analysis (graded)
There are different tools for analyzing the financial statements of a company, such
as horizontal analysis, vertical analysis, ratios for measuring financial health and
profitability, and so forth. Before we begin using these tools, however, it is
important to know the purpose of each tool.
Why do we need different tools for analyzing the financial statements? Don't the
numbers in the financial statements speak for themselves?
Devry Acct504 week 3 Case Study Latest 2016 Jan.
Case Study 1 (Part A)
(Learning Objectives 4, 5, 6: Analyze the impact of business transactions on
accounts; record (journalize and post) transactions in the books; construct and use a
trial balance) During the first month of operation of Gordon Construction, Inc.,
completed the following transactions:
June
2
Gordon received $55,000 cash and issued common stock to the stockholders.
3
Purchased supplies, $3,000, and equipment, $5,200, on account.
4

Performed services for a client and received cash, $6,300.
7
Paid cash to acquire land, $37,000.
11
Performed services for a customer and billed the customer, $1,200. Johnson expects to
collect within one month.
16
Paid partial for the equipment purchased June 3 on account $2,800.
17
Paid the telephone bill, $230.
18
Received partial payment from customer on account, $700.
22
Paid the water and electricity bills, $400.
29
Received $5,000 cash for repairing the pipes of a customer.
30
Paid employee salary, $4,300.
30

Declared and paid dividends of $3,000.
?Requirements
1. Record each transaction in the journal. Key each transaction by date. Explanations
are not required.
2. Post the transactions to the T-accounts, using transaction dates as posting
references.
3. Prepare the trial balance of Gordon Construction, Inc., at June30, 20xx.
4. The manager asks you how much in total resources the business has to work with
and, how much it owes.
Case Study 1 (Part B)
Requirement 1
(Learning Objectives 3, 4: Adjust the accounts; construct the financial statements)
Record the following month end adjusting entries for Gordon Construction, Inc. at
June 30, 20xx
Month end accruals at June 30, 20xx:
a. Accrued advertising revenue at June 30, $3,100.
b. Supplies used during June, $2,300.
c. Accrued salary expense at June 30 for Monday, Tuesday, and Wednesday. The five-day
weekly payroll is $6,100 and will be paid on Friday.
Requirement 2
Prepare adjusted trial balance for Gordon Construction at June 30, 20xx.
Case Study 2
Due by Sunday of Week 5, 11:59 p.m., Mountain time
(Learning Objectives 2, 4: Explain the components of internal control; evaluate
internal controls) Each of the following situations reveals an internal control
weakness:
Situation a. In evaluating the internal control over inventory for the Williams Oil

Services Company, an auditor learns that the warehouse receiving clerk is responsible
for ordering parts for supply inventory use in drilling services, counts the
inventory when received at the dock, records the receipts into the inventory ledger,
and takes the annual inventory, No supervisor reviews the receiving clerk’s work.
Situation b.Nicole Lopez handles employee travel and expense reports for Scott Sales
Services. With the growth in the economy, the sales team began traveling extensively
gaining new business. Because of the heavy volume, she no longer required the sales
team to provide original airline, hotel, or car rental receipts. She told them to
just keep their meals under the $100 per day per diem and no receipts were required.
She allowed them to use their own credit cards so they could get the frequent flyer
points. She required them to turn in a summary of the travel expenses quarterly.
Situation c. Michael Jordon is a new employee hired from Craig’s List recommended by
a co-worker. Mike was hired as a Human Resource Assistant. Mike’s first day on the
job he is told that he should follow his own judgments when deciding how employee
issues such as hiring and firing of employees, sexual harassment, and ethical
infractions should be handled.
Top of Form
?Requirements
1. Identify the missing internal control characteristic in each situation.
2. Identify each firm’s possible problem.
3. Propose a solution to the problem.
Bottom of Form
Category
Points
Description
Understanding
10
Demonstrate a strong grasp of the problem at hand. Demonstrate understanding of how
the course concepts apply to the problem.

Analysis
30
Apply original thought to solving the business problem. Apply concepts from the
course material correctly toward solving the business problem.
Execution
10
Write your answer clearly and succinctly using strong organization and proper
grammar. Use citations correctly.
Total
50
A quality paper will meet or exceed all of the above requirements.
ACCT504 Case Study 3
(Learning Objective 5: Construct and use a cash budget) Nathan Farmer, chief
financial officer of Wang Appliance Store, is responsible for the company’s budgeting
process. Farmer’s staff is preparing the Wang cash budget for 2014. A key input to
the budgeting process is last year’s statement of cash flows, which follows (amounts
in thousands):
Wang Appliance Store
Statement of Cash Flows
2013

(in thousands)
Cash Flows from Operating Activities
Collections from customers $51,000
Interest Received 500
Purchase of inventory (36,000)
Operating expenses (10,200)
Net cash provided by operating activities 5,300
Cash Flows from Investing Activities
Purchase of equipment (3,500)
Purchase of investments (500)
Sale of investments 1,000
Net cash used for investing activities (3,000)
Cash Flows from Financing Activities
Payment of long term debt (400)
Issuance of Stock 2,000
Payment of cash dividends (500)

Net cash provided by financing activities 1,100
Cash
Increase (decrease) in Cash 3,400
Cash, beginning of year 2,900
Cash, end of year6,300
?Requirements
1. Prepare the Wang cash budget for 2014. Date the budget simply “2014” and denote
the beginning and ending cash balances as “beginning” and “ending.” Assume the
company expects 2014 to be the same as 2013, but with the following changes:
a. In 2014, the company expects a 20% increase in collections from customers and a
30% increase in purchases of inventory.
b. There will be no sales of investments in 2014.
c. Wang does not plan to issue stock in 2014.
d. Wang plans to end the year with a cash balance of $5,550.
Devry Acct504 week 5 & 7 Course Project Assignments Latest 2016 Jan.
Your Course Project
Financial Statement Analysis Project—A Comparative Analysis of Oracle Corporation and
Microsoft Corporation
Here is the link for the financial statements for Oracle Corporation for the fiscal
year ending 2011. First, select 2011 using the drop-down arrow labeled Year on the
right-hand side of the page, and then select Annual Reports using the drop-down arrow
labeled Filing Type on the left-hand side of the page.
You should select the 10k dated 6/28/2011 and choose to download in PDF, Word, or
Excel format.
http://www.oracle.com/us/corporate/investor-relations/sec/index.html

Here is the link for the financial statements for Microsoft Corporation for the
fiscal year ending 2011. You need to press the word Go on the left-hand side of the
page. Then you should select the 10k dated 7/28/2011 and choose to download in Word
or Excel format.
http://www.microsoft.com/investor/SEC/default.aspx?year=2011&filing=annual
A sample project template is available for download in Doc Sharing. The sample
project compares the ratio performance of Tootsie Roll and Hershey using the 2012
financial statements of Tootsie Roll and Hershey provided at their websites.
Description
This course contains a Course Project. You will be required to submit one draft of
the project at the end of Week 5 and the final, completed project at the end of Week
7. Using the financial statements for Oracle Corporation and Microsoft Corporation,
respectively, you will calculate and compare the financial ratios listed further down
this documentfor the fiscal year ending 2011 and prepare your comments about the two
companies’performance based on your ratio calculations.The entire project will be
graded by the instructor at the end of the final submission in Week 7, and one grade
will be assigned for the entire project.
Overall Requirements
For the Final Submission
Your final Excel workbook submission should contain the following items. You cannot
use any software but Excel to complete this project.
1. A completed worksheet title page tab, which is really a coversheet with your name,
the course, the date, your instructor’s name, and the title for the project.
2. A completed worksheet profiles tab that contains a one-paragraph description
regarding each company with information about their histories, what products they
sell, where they are located,and so on.
3. All 16 ratios for each company, with the supporting calculations and commentary on
your worksheet ratio tab. Supporting calculations must be shown either as a formula
or as text typed into a different cell. The ratios are listed further down this
document. Your comments for each ratio should include more than just a definition of
the ratio. You should focus on interpreting each ratio number for each company and
support your comments with the numbers found in the ratios.

4. The Summary and Conclusions worksheet tab is an overall comparison of how each
company compares in terms of the major category of ratios described in Chapter 13 of
your textbook. A nice way to conclude is to state which company you think is the
better investment and why.
5. The Bibliography worksheet tab must contain at least your textbook as a reference.
Any other information you use to profile the companies should also be cited as a
reference.
Required Ratios for Final Project Submission
1. Earnings per Share of Common Stock
Current Ratio
Gross Profit Margin
Rate of Return on Sales (Net Profit Margin)
Inventory Turnover
Days’ Inventory Outstanding (DIO)
7. Accounts Receivable Turnover
8. Days’ Sales Outstanding (DSO)
AssetTurnover
Rate of Return on Total Assets (ROA)
Debt Ratio
Times Interest Earned Ratio
Dividend Yield (For the purposes of this ratio, use Yahoo Finance to look up current
dividend yield and stock price; just note the date that you looked up this
information.)
Rate of Return on Common Stockholders’ Equity (ROE)
Free Cash Flow
Price/Earnings Ratio (Multiple)(For the purpose of this ratio, for Oracle, use the
market price per share on May 30, 2011 and for Microsoft, use the market price per
share on June 30, 2011.)
The Excel files uploaded in the Dropboxes should not include any unnecessary numbers
or information (such as previous years' ratios, ratios that were not specifically
asked for in the project, etc.).
Please upload your final submission to the Week 7 Dropbox by the Sunday ending Week

7.
For the Draft
Create an Excel spreadsheet or use the project template to show your computations for
the first 10 ratios listed above. The more you can complete regarding the other
requirements, the closer you will be to completion when Week 7 arrives. Supporting
calculations must be shown either as a formula or as text typed into a different
cell. If you plan on creating your own spreadsheet, please follow the format provided
in the Tootsie Roll and Hershey template file.
Please upload your draft submission to the Week 5 Dropbox by the Sunday at the end of
Week 5.
Other Helpful information
If you feel uncomfortable with Excel, you can find many helpful references on Excel
by performing a Google search.
Chapter 13 contains ratio calculations and comparison comments related to Apple and
Dell; you will likely find this information helpful.
BigCharts.com provides historical stock quotes.
Either APA or MLA style can be used to complete the references on your Bibliography
tab. There is a tutorial for APA and MLA style within the Syllabus.
Grade Information
The entire project will be graded by the instructor at the end of the final
submission in Week 7, and one grade will be assigned for the entire project. The
project will count for 18% of your overall course grade.
Category
Points

%
Description
Documentation
and Formatting
9
5%
The report will be submitted in the form of an Excel Workbook, with each page
(worksheet) of the workbook named appropriately.Please do not use any other software
(such as MS Works or Lotus) to complete the project. A quality report will include a
title worksheet tab, a worksheet tab for theprofile of the two companies, a worksheet
tab for the ratio calculations and comments, a worksheet tab for the summary and
conclusion, proper citations if applicable, and a bibliography worksheet tab for the
references.
Organization
and Cohesiveness
9
5%
A quality report will include the contentdescribed above in the documentation and
formatting section. The ratios should be listed in the same order in which they
appear in the project information above.
Editing
18
10%

A quality report will be free of any spelling, punctuation, or grammatical errors.
Sentences and paragraphs will be clear, concise, and factually correct.Ratios will be
expressed as numbers or percentages, depending on what is appropriate, as is shown in
the textbook.Note that not all ratios are shown as percentages. Two decimal places
are sufficient for each of the ratios.
Content
144
80%
A quality report will have correct ratio calculations and accurate supporting
commentary. Any assumptions, if made, should be spelled out clearly. Supporting
calculations must be shown either as a formula or as text typed into a different
cell.
Total
180
100%
A quality report will meet or exceed all of the above requirements.

Devry acct 504 complete course latest 2016 feb

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Devry acct 504 complete course latest 2016 feb