Chat with us, powered by LiveChat This week's activity illustrates the role a company's accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the impact on both cash and accrual accounting methods. Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC) Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products. Scenario: BizCon, a consulting firm, has just completed its first year of operations. The company's sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day financing – meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year. As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments. Prepare the memo in a maximum 700 words including the following information to better outline the situation: Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting. Assess how at the end of the year, BizCon reported a favorable net income, yet the company's management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash. | Writedemy

This week’s activity illustrates the role a company’s accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the impact on both cash and accrual accounting methods. Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC) Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products. Scenario: BizCon, a consulting firm, has just completed its first year of operations. The company’s sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day financing – meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year. As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments. Prepare the memo in a maximum 700 words including the following information to better outline the situation: Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting. Assess how at the end of the year, BizCon reported a favorable net income, yet the company’s management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash.

21 Jun This week’s activity illustrates the role a company’s accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the impact on both cash and accrual accounting methods. Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC) Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products. Scenario: BizCon, a consulting firm, has just completed its first year of operations. The company’s sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day financing – meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year. As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments. Prepare the memo in a maximum 700 words including the following information to better outline the situation: Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting. Assess how at the end of the year, BizCon reported a favorable net income, yet the company’s management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash.

Posted at 21:21h in 1Academic Level by

Leaders are constantly faced with making challenging decisions. Sometimes the decisions are difficult due to how they affect others; other times, the decisions are difficult because of ethical concerns.

Tasks:

Discuss the importance of organizational ethics as it relates to organizational effectiveness. Support your response with current literature on organizational ethics.
Describe an ethical issue that your current or past organization faced. Evaluate how the organization’s leader and the organization’s members handled the situation.
When dealing with the ethical issue described above, identify the traits and skills the leader used to address the issue. Was the leader successful in the deployment of his or her approach? Why or why not?
What, if any, traits and skills did the leader and organizational members lack in dealing with the ethical issue? What should they have done differently to be more effective in dealing with the issue?
Your final product will be a Word document, approximately 4–5 pages long, utilizing at least 3 sources from academic, peer-reviewed literature. You can find peer-reviewed literature on the Readings and Assignments page of the course and through the Argosy Online Library.

Make sure you write in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources; and display accurate spelling, grammar, and punctuation.

By Wednesday, May 13, 2017, deliver your assignment to the M2: Assignment 2 Dropbox.

WA Grading Criteria:

CO: 2, 3, 5

Assignment Components
Proficient
Max Points
Discuss the importance of organizational ethics as it relates to organizational effectiveness. Support your response with current literature on organizational ethics.

Discussion accurately describes the importance of organizational ethics as it relates to organizational effectiveness. Discussion is supported by a real-life example and current literature.
12 pts.
Describe an ethical issue that your current or past organization faced. Evaluate how the organization’s leader and the organization’s members handled the situation.

Issue described is an ethical issue for the organization. A detailed evaluation is given describing the effectiveness of handling the situation from beginning to end.
12 pts.
When dealing with the ethical issue described above, identify the traits and skills the leader use to address the issue. Was the leader successful in the deployment of their approach? Why or why not?

A clear identification of all traits and skills used is provided. The success of the approach is justified using scholarly sources.
16 pts.
What, if any, traits and skills did the leader and organizational member lack in dealing with the ethical issue. What should they have done differently to be more effective in dealing with the issue?

Any applicable traits or skills that are lacking are accurate and clearly identified. All relevant actions that should have been done differently are identified and justified using scholarly sources.
12 pts.
Academic Writing

Write in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources (i.e. APA); and display accurate spelling, grammar, and punctuation.

Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; and displayed accurate spelling, grammar, and punctuation.
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