Reference no: EM131207740

Assignment -1:

Analysis Assignment

Interpretation and comparison between the two companies' ratios (reading Chapter 15 will help you prepare the commentary).
The comparison of the ratios is an important part of the project. A good approach is to:

1) briefly explain the definition / meaning of the ratio.

2) Indicate why the higher or lower ratio is better.

3) Then compare the two companies on this basis. Remember-each ratio below requires a comparison.You all get the chance to play the role of financial analyst. The summary should be a comparison of each company's performance for each major category of ratios (liquidity, solvency, and profitability). Focus on major financial differences as you compare each company's performance as to why a company would be the better carreer choice

Measuring Liquidity:

Measuring Solvency-

Assignment-2:

REQUIREMENT #1:
During its first month of operation, the View Corporation, a construction company which specializes in home remodeling ,
completed the following transactions:

1-Jan Began business by making a deposit in a company bank account of $24,000, in exchange
for 2,400 shares of $5 par value common stock.

1 Paid the premium on a one-year insurance policy, $2,400.

1 Paid the current month's rent, $2,080.

3 Purchased construction equipment from Brookwood Company, $8,800. Paid $1,200 down and the balance was placed on account. Payments will be $400.00 per month for nineteen months. The first payment is due 2/1.

8 Purchased construction supplies from Lakeside Company on credit, $780.

12 Paid utility bill for January, $308.

16 Received cash for construction revenue for the first half of January, $2,724.

19 Made payment to Lakeside Company, $400.

31 Received cash for construction revenue for the last half of January, $2,620.

31 Declared and paid cash dividend of $1,600.

Prepare journal entries to record the Feb transactions in the General Journal below.

REQUIREMENT #2:

Post the January journal entries to the following T-Accounts and compute ending balances.

REQUIREMENT #3:

Prepare a trial balance for February in the space below.

Requirement #4:

Prepare adjusting entries using the following information in the General Journal
below. Show your calculations!

a) One month's insurance has expired.

b) The remaining inventory of landscaping supplies is $388.

c) The estimated depreciation on landscaping equipment is $140.

d) The estimated income taxes are $80.

Requirement #5:

Post the adjusting entries to the General Ledger T-accounts and compute adjusted balances.
Just add to the balances that are already listed.

Requirement #6:

Prepare an Adjusted Trial Balance in the space below.

Requirement #7:

Prepare the financial statements for View Construction Corporation as of January 31 in the space below.

You will only be preparing the Income Statement, Statement of Retained Earning and the Balance Sheet.  The Statement of Cash Flows is a required Financial Statement, but is not required for this Project.

Requirement #8:

Prepare the closing entries at Janaury 31 in the General Journal below.

Hint: use the balances for each account which appear on the Adjusted Trial Balance for your closing entries.

Requirement #9:

Post the closing entries to the General Ledger T-accounts and compute ending balances. Just add to the adjusted balances already listed.

Requirement #10:

Prepare a post-closing trial balance as of January 31 in the space below.

Assignment-3:

Company Analysis Assignment

Confucius said, "Find a job you love, and you will never have to work a day in your life." One method to identify a job you love is to identify your natural talents, interest, passions and then relate those to a job title(s). It is also important to identify an industry of interest which includes those job titles Based on research of Company websites and search engines such as Yahoo Finance use business profiles, mission, and location to identify companies within those industries you might like to work for. (Company websites often provide HR contact information and open positions). Another important step is to obtain those companies financial results to determine the viability of the company and the prospects for career growth.

Assignment Requirements Part 1 Write a 1 page paper which describes the chosen job title, industry of interest and complete company research .

A) Identify interests and Job Titles:

You can also use the link below to identify jobs which align with your personality. For example, a very social person might love a job as a salesperson, while a shy person might find that job difficult and even disagreeable. The link below provides an article list of nine different personality types and jobs best suited for people with each personality. Read the description of each personality to find out which type you are, and what types of jobs might best be suited.
https://jobsearch.about.com/od/careereducation/fl/which-jobs-match-your-personality.htm
OR

Fill in the blanks to the sentences below:

1. If I could choose one friend to trade jobs with, I'd choose ____________, because ___________________________________________________________________.
2. I've always wondered what it would be like to do ____________. It's interesting to me because __________________________________________________________________________.
3. If I had the right education or skill set, I'd definitely try ____________, because __________________________________________________________________________.
4. If I were to start school again tomorrow, I'd major in ____________, because ____________________________________________________________________________.
5. My co-workers / friends always say I'm great at ____________, because _____________________________________________________________________________.
6. The thing I love most about my current job is ____________, because ____________________________________________________________________________.
7. If my boss would let me, I'd do more of ____________, because ____________________________________________________________________________.
8. If I had a free Saturday that had to be spent "working" on something, I'd choose ____________, because ______________________________________________________________________.
9. When I retire, I want to be known for ____________, because _______________________________________________________________________________.
Co-authored by Adrian Granzella Larssen, editor-in-chief at The Daily Muse

B) Industries: Use the link below to browse through careers in different industries:
https://www.mynextmove.org/find/browse

C) Companies: Use the link below to browse through companies in different industries:

Also research a companies within the industry you might like to work for and include: business profile, mission and location. You can use the link below to explore companies in different industries (example: retail related -The Gap or sports related - Reebok) for differences in jobs and corporate cultures.

https://www.themuse.com/companies
OR
"Google" the industry of interest and the companies who are market leaders.
Search the companies webpage and at the bottom look for a link related top job openings or careers.
Assignment Requirements Part 2
For purposes of this case a Spreadsheet is provided which provides key ratio results
For the financial analysis portion of the assignment an Excel worksheet is provided which contains ratios weve studied during our course for 2 companies. (You cannot use any other software but Excel to complete this Project).

Be sure to include

1) A completed worksheet title page tab which is really a cover sheet with your name, my name, the class name, and the date.

2) Comment on each of the 14 ratios of the company. Your comments for each ratio must include more than just a definition of the ratio. You should focus on interpreting each ratio number for each company..

3) Complete the Summary worksheet tab which is an overall comparison of how each company compares in terms of the major category of ratios (Liquidity, Profitability, and Solvency) as well as an overall Conclusion as to which company you would prefer to work for based on the financial analysis.

4) The Bibliography worksheet tab must contain at least your textbook as a reference.

Assignment - 4:

Case 2
Note: Refer to Ch 1 and Ch 7 for foundational information related to ethics and internal control respectively. Be sure to carefully check grammar, word choice and sentence structure. Also do not merely copy the research rather you can rephrase in your own words, elaborate, provide examples, etc. Be sure to include references to enable my check of your resources:

Contributors' names. Title of resource. URL web address retrieved from

Part 1
As a result of unethical business practices and fraud within some of the largest publicly traded companies there was widespread mistrust by investors and American public concern. In 2002, the Securities and Exchange Commission responded by voting to adopt wide spread changes concerning internal controls and financial reporting namely the SOX Act Inform the president of any new internal control requirements if the company decides to go public.

Part 2

The OBJECTIVES of Internal Control are:
- Safeguard assets
- Process information accurately
- Ensure compliance with laws and regulations

The ELEMENTS of Internal Control are
- Control Environment
- Risk Assessment
- Control Procedures
- Monitoring
- Information and Communication

The Control Procedures include the following:
- Competent personnel, rotating duties, mandatory vacations
- Separating responsibilities
- Separating operations, custody of assets, and accounting
- Proofs and security measures

Review the following situations for South Oil Services:
Situation a. In evaluating the internal control over inventory for the South 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. Donald Jones handles employee travel and expense reports for South Oil Services. With the growth in the economy, the sales team began traveling extensively gaining new business. Because of the heavy volume, Donald no longer required the sales team to provide original airline, hotel, or car rental receipts. He told them to just keep their meals under the $100 per day per diem and no receipts were required. He allowed them to use their own credit cards so they could get the frequent flyer points. He required them to turn in a summary of the travel expenses quarterly.

Situation c. Linda Smith is a Human Resource Manager for South Oil. Linda follows her own judgments when deciding which: employees are hired and fired, sexual harassment claims pursued, and how ethical infractions should be handled. In fact she hired a number of her relatives and clocks in for her relatives when they miss work. Linda is also responsible for verifying payroll timecards . Linda does not take vacations for fear her actions will be discovered.

Requirements: Use the Control Procedures to answer the following
1. Identify the missing internal control PROCEDURE(S) in each situation.
2. Identify each firm's possible problem created by not having the control procedure(s).
3. Propose a solution.

Part 3:
Ethics in Accounting: Consider the following case as an example of ethical dilemmas accounting professionals can face.

Dilemmna: Patricia Green CPA is a Blythe Corporation's Controller and she is concerned that the company's net income may be lower this year than was expected. As a result, she is afraid that the Corporate executives may recommend cost reductions by laying off accounting staff. Patricia knows that depreciation is a major expense for Blythe Corporation. The company currently uses the double-declining balance method, and she is thinking of changing to the straight-line method.

Alternative 1) However, this change would be highlighted in the statement of retained earnings as a cumulative effect adjustment and management must prove that the new principle will give a reliable and more relevant financial presentation in the statements.

Alternative 2) Instead, she is contemplating increasing estimated useful lives and residual values. That would decrease depreciation expense (and increase income). Best of all, this change in estimate will be handled prospectively and would not be highlighted in the current or future years' financial statements. Patricia thinks this approach could save her job and those of her staff.

What would you recommend to Patricia Green? On the one hand, it would seem that opting for changes in residual values and useful lives could result in investors and creditors getting less useful information about Blythe's income. On the other hand, Patricia may feel she has an obligation to protect her staff.

Requirements: Apply the Guidelines for Ethical Conduct

The following questions should help you identify and sort out the questions to be considered

1. Identify the consequences and its effects on others. Seek answers to the following questions in this sequence:
a. What parties (stakeholders) may be harmed or benefited?
b. Whose rights or claims may be violated?
c. Which specific interests are in conflict?.

2. Consider your obligations and responsibilities to the various stakeholders. What is the effect of each alternative on the various stakeholders? Which stakeholders are harmed or benefited most?

3. Make a decision that is fair and ethical to those affected.

It may help to research the internet for articles regarding various thoughts on ethics. Be sure to provide material references for material included in your report.

Attachment:- homework_updated.zip