29 Jun Question Saint Leo University Graduate Business Studies
Question
Saint Leo University
Graduate Business Studies
MBA 560
Financial and Managerial Accounting
MODULE 1 DISCUSSION
Review the provisions of the Sarbanes-Oxley Act which was created in 2002 to address the accounting scandals in the late 90s early 00s (Enron, WorldCom, etc.). Identify the provisions that you feel made the biggest impact. What other provisions could have been included in the Act to strengthen the Responsible Stewardship and Integrity of the accounting profession? And conversely, what existing provisions in the Act do you believe (if any) are unnecessary or over-regulate the profession?
MODULE 2 DISCUSSION
Summarize the events of a recent accounting scandal. Identify how the illegal/unethical act was detected and the punishments that resulted (fines, prison terms, etc.). Consider what could have been done to detect this act earlier and what could have been done to prevent this from happening in the first place. Select a different example than those listed on previous posts.
Module 3 Discussion
US GAAP follows the Historical Cost Concept in valuing the cost of Long-Term Assets. Explain this principle and how it compares to the standards used in the reporting of Long-Term Assets under International Financial Reporting Standards (IFRS). If there is a convergence of standards, which method do you believe should be used and why?
MODULE 4 DISCUSSION
Discuss the advantages and disadvantages of different types of financing:
Issuing bonds
Borrowing from Bank
Equity financing
MODULE 5 DISCUSSION
Discuss the efficient Market Hypothesis. Do you believe financial statement analysis can be performed in a way that provides significant advantage to an investor?
MODULE 6 DISCUSSION
Why is the accuracy of cost allocation so important? Cite real-life examples of either successes or failures in cost allocation.
.1112060546875px; border: 0px;” cellpadding=”2″ cellspacing=”0″>
MODULE 7 DISCUSSION
Identify a real-life outsourcing decision that has been made. Identify the specific reasons for the outsourcing. If information is available, discuss the results of the outsourcing decision (jobs lost, cost savings, etc.). Cite sources as deemed necessary.
MODULE 8 DISCUSSION
Identify the costs and benefits to a company of gathering, reporting, and disclosing non-financial information (ex.: Balanced Scorecard, Corporate Social Responsibility Reporting, Sustainability Reporting, etc.).
Module 1 test
Problem 1. At the beginning of 2010, Gonzales Company’s accounting records had the general ledger accounts and balances shown in the table below. During 2010, the following transactions occurred:
1. received $80,000 cash for providing services to customers
2. paid rent expense, $10,000
3. purchased land for $9,000 cash
4. paid $5,000 on note payable
5. paid operating expenses, $52,000
6. paid cash dividend, $6,000
Required:
1) Record the transactions in the appropriate general ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column, providing appropriate titles for these accounts in the last column of the table.
2) What is the amount of total assets as of December 31, 2010?
3) What is the amount of total stockholders’ equity as of December 31, 2010?
Problem 2. Given are the amounts of assets, liabilities, owner’s equity, revenues, and expenses of AQUA Inc. at 12/31/10. The beginning amount of Retained Earnings at 1/1/10 was $20,000, and during the year Dividends of $60,000 were taken out by the owners of Aqua Inc. Prepare the yearend Balance Sheet and Income Statement for AQUA LLP at the end of the year.
(Include Correct Headings)
Accounts Payable $59,000 Land $78,000
Accounts Receivable 15,000 Unearned Revenue 45,000
Advertising Expense 13,000 Utilities Expense 5,000
Building 160,000 Rent Expense 13,000
Cash 140,000 Operating Expenses 23,000
Supplies 10,000 Common Stock 240,000
Salary payable 2,000 Accumulated Depreciation 10,000
Prepaid Insurance Expense 20,000 Service Revenue 170,000
Interest Expense 9,000 Retained Earnings ?
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.