ACC 561

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ACC 561 Week 1 Complete

DQ 1.Why are financial statement important to internal

users, such as employees, managers, and directors?

DQ 2.Can you think of any reasons why companies may

want to maximize profit on its income statement? What
about minimizing profit? What ethical implications may
these objectives have?

WileyPLUS Assignment Week 1 Practice Quiz

Resource: WileyPLUS
Complete the Week 1 Practice Quiz in WileyPLUS.
WileyPLUS Assignment Week 1 Assignment
Resource: WileyPLUS
Complete the following Week 1 Assignment in WileyPLUS:
Brief Exercise: 1-7
Brief Exercise: 1-8
Individual Assignment Financial Statement Review
Option 1:
1. Select an American corporation.
2. Visit its website and download the Income Statement,
Statement of

Stockholders Equity, Balance Sheet, and Statement of

Cash Flows.
3. Complete the University of Phoenix Material: Financial
Statement Review Worksheet.
4. Submit the completed worksheet, copies of the
downloaded financial statements, and a link to the
website. Include all your calculations if applicable.
5. Click the Assignment Files tab to submit your
assignment.
Option 2:
1. Create a table that lists each type of financial
statements income statement, balance sheet, cash flow
statement and statement of equity under Column.
2. Add two columns. Column 2 should be labeled
"Purpose" and
Column 3 should be labeled "Users".
3. Complete the table. Under Column 2 explain the
purpose and content of each statement. Under Column 3
list the users of each and explain how they would use
such statements.
4. Click the Assignment Files tab to submit your
assignment.
Read More Courses Here. ACC 561 Week 1
DQ 1 | ACC 561 Week 1 DQ 2 | ACC 561 Week 1 Quiz
| ACC 561 Week 1 WileyPLUS Assignment | ACC 561

Week 1 Financial Statement Review | ACC 561

Week 2 DQ 1

ACC 561 Week 2 Complete

DQ 1.Last week we discussed how different stakeholders
(managers, investors, lenders, public) use financial
statements. This week we will focus on financial ratios.
Do you believe some ratios (solvency, profitability,
liquidity) are more relevant to some stakeholders? Would
you expect other groups such as vendors or clients to use
the ratios as well?

DQ 2.What factors would you consider when comparing

the ratios of two companies? How can we make financial
ratio comparisons a more successful process?

WileyPLUS Assignment Week 2 Practice Quiz

Resource: WileyPLUS
Complete the Week 2 Practice Quiz in WileyPLUS.
Individual Assignment Ratio Analysis Assignment
Please go to Yahoo Finance (finance.yahoo.com).
Under the "Quote Lookup" please search for Kellogg
Company.

On the left bar you will be able to access the Income

Statement and
Balance Sheet for the company.
Option 1:
Calculate the current ratio, profit margin and debt/equity
ratio. Explain your interpretation of each.
Option 2:
Prepare a 500-word paper that responds to the following
questions (please use a question / answer format):
1. Has the profit increased or decreased from 2012 to
2013 and by how much?
2. What is the percentage increase or decrease in selling
general and administrative expenses?
3. What is the percentage increase or decrease in net
income?
4. Based on your answers above, what conclusion can
you draw regarding the firm's financial performance?
Individual Assignment Financial Statement Review
1. Select an American corporation.
2. Visit its website and download the Income Statement,
Statement of Stockholders Equity, Balance Sheet, and
Statement of Cash Flows.

3. Complete the University of Phoenix Material: Financial

Statement Review Worksheet.
4. Submit the completed worksheet, copies of the
downloaded financial statements, and a link to the
website. Include all your calculations if applicable.
5. Click the Assignment Files tab to submit your
assignment.
Read More Courses Here. ACC 561 Week 2
DQ 1 | ACC 561 Week 2 DQ 2 | ACC 561 Week 2 Quiz
| ACC 561 Week 2 Ratio Analysis Assignment | ACC
561 Week 2 Financial Statement Analysis

ACC 561 Week 3 Complete

DQ 1.How can costing errors decrease your company's
profitability? What can you do to prevent them?

DQ 2.While the text presents job and processing costing

systems as virtual "polar extremes," there are many
situations where it may be best for a company to use a
hybrid system that combines attributes of both systems.
Describe such a situation and discuss how the hybrid
system may be better than either pure job or pure
process systems.
WileyPLUS Assignment Week 3 Practice Quiz
Resource: WileyPLUS

Complete the Week 3 Practice Quiz in WileyPLUS.

Individual
Assessment

Assignment

Costing

Systems

Please review the information for Parlex Corporation on

Page 836,
Chapter 15 of your textbook (under Activity BYP15-3).
Prepare a 1000-word paper or a 5-slide power point
presentation that addresses the following questions:
(a) Parlex management discusses the job order cost
system employed by their company. What are several
advantages of using the job order approach to costing?
What are the disadvantages of the system?
(b) Contrast the products produced in a job order
environment, like Parlex, to those produced when process
cost systems are used.
(c) Would Parlex benefit from a hybrid system? Why or
why not?
Learning Team Assignment
Access BYP17-2 activity on Ideal Manufacturing (Page 935
of Chapter 17).
Complete the attached Excel spreadsheet.
Submit your completed excel spreadsheet using the
Assignments Tab.

Read More Courses Here. ACC 561 Week 3

DQ 1 | ACC 561 Week 3 DQ 2 | ACC 561 Week 3 Quiz
| ACC 561 Week 3 Costing Systems Assessment |
ACC 561 Week 3 Learning Team Assignment

ACC 561 Week 4 Complete

DQ 1.What are some important elements of the breakeven (BE) analysis? What type of decisions can you take
using BE?

DQ 2.Class, what are some examples of fixed and

variable costs in your organizations? Do you believe a
company can benefit from having a cost structure that
would focus on one type of costs over another (for
instance, a cost structure that would comprise 80% of
variable costs and 20% of fixed costs or vice-versa)?

WileyPLUS Assignment Week 4 Practice Quiz

Resource: WileyPLUS
Complete the Week 4 Practice Quiz in WileyPLUS.
WileyPLUS Assignment Week 4 Assignment
Resource: WileyPLUS
Complete the following Week 4 Assignment in WileyPLUS:
Exercise 15-5

 Exercise 16-3
Exercise 17-1

Learning Team Reflection

Managerial accounting is all about making informed
decisions. Cost volume- profit (CVP) analysis is one of the
most powerful tools available for managers to crunch
numbers, gain a thorough understanding of a situation,
and perform a what-if analysis.
Write a paper of no more than 750 words or a 5-slide
power point presentation in which you discuss the
activities and learning this week and share how CVP
analysis may be helpful to an entrepreneur starting a new
business.
Provide at least three situations or strategic decisions
that may be reached using CVP analysis.
Click the Assignment Files tab to submit your assignment.
Read More Courses Here. ACC 561 Week 4
DQ 1 | ACC 561 Week 4 DQ 2 | ACC 561 Week 4 Quiz
| ACC 561 Week 4 WileyPLUS Assignment | ACC 561
Week 4 Learning Team Reflection

ACC 561 Week 5 Complete

DQ 1.Many upper level managers consider the budget to

be a living document. What do they mean by this and do
you agree with their assertion? Why? Why not?

DQ 2.How would you conduct a variance analysis at

work? How can it help you or your company?
WileyPLUS Assignment Week 5 Practice Quiz
Resource: WileyPLUS
Complete the Week 5 Practice Quiz in WileyPLUS.
WileyPLUS Assignment Week 5 Assignment
Resource: WileyPLUS
Complete the following Week 5 Assignment in WileyPLUS:
Brief Exercise 18-8
Brief Exercise 18-10
Brief Exercise 18-11
Brief Exercise 19-16
Exercise 19-17
Brief Exercise 21-1
Brief Exercise 21-4
Individual Assignment Budgeting Assignment
Compare and contrast each of the following budgets:

1. Master
2. Sales
3. Cash
4. Production
Explain how each budget can be used, what decisions
may be derived from it and what information does each
one include.
You can submit your assignment in the following formats:
Essay paper
Table
Mind map
Chart
Learning Team Assignment
Team Budget Analysis Simulation Exercise
Please discuss with your teammates the business case
below from your textbook - Exercise BYP20-1, page 1072.
The grade provided for this assignment will be based on
your participation (frequency and quality) in the
discussions. To obtain full credit, you should post a
minimum of four substantive posts during the week on a
minimum of two separate days. Each post should be
substantive and provide insight on one of the three
questions posted at the end of the exercise (a to c). The

idea of the assignment is that you can work on a "team"

environment to find solutions to these questions.
At the end of your discussions, the team should select
five top ideas to revise the existing budgeting process
and write a brief, one page "memo" to your boss
(instructor) outlining these selected ideas.
Your grade will be based on:
Participation (four posts, two days): 4 points
Results Memo: 1 point
Additional instructions:
Ensure your posts reflect on any of the suggested
questions (a to c).
Your deliverable should be presented in a "memo"
format addressed to your boss.
Work on the team discussions assuming you are in a
real-life work environment.
Remember that your grade will be mostly based on the
quality of your discussions.
DECISION MAKING ACROSS THE ORGANIZATION
BYP20-1 Palmer Corporation operates on a calendar-year
basis. It begins the annual budgeting process in late
August when the president establishes targets for the
total dollar sales and net income before taxes for the next
year.

The sales target is given first to the marketing

department. The marketing manager formulates a sales
budget by product line in both units and dollars. From this
budget, sales quotas by product line in units and dollars
are established for each of the corporation's sales
districts. The marketing manager also estimates the cost
of the marketing activities required to support the target
sales volume and prepares a tentative marketing expense
budget.
The executive vice president uses the sales and profit
targets, the sales budget by product line, and the
tentative marketing expense budget to determine the
dollar amounts that can be devoted to manufacturing and
corporate office expense. The executive vice president
prepares the budget for corporate expenses. She then
forwards to the production department the product-line
sales budget in units and the total dollar amount that can
be devoted to manufacturing.
The production manager meets with the factory
managers to develop a manufacturing plan that will
produce the required units when needed within the cost
constraints set by the executive vice president.
The budgeting process usually comes to a halt at this
point because the production department does not
consider the financial resources allocated to be adequate.
When this standstill occurs, the vice president of finance,
the executive vice president, the marketing manager, and

the production manager meet together to determine the

final budgets for each of the areas. This normally results
in a modest increase in the total amount available for
manufacturing costs and cuts in the marketing expense
and corporate office expense budgets. The total sales and
net income figures proposed by the president are seldom
changed. Although the participants are seldom pleased
with the compromise, these budgets are final. Each
executive then develops a new detailed budget for the
operations in his or her area.
None of the areas has achieved its budget in recent
years. Sales often run below the target.
When budgeted sales are not achieved, each area is
expected to cut costs so that the president's profit target
can be met. However, the profit target is seldom met
because costs are not cut enough.
In fact, costs often run above the original budget in all
functional areas (marketing, production, and corporate
office).
The president is disturbed that Palmer has not been able
to meet the sales and profit targets.
He hired a consultant with considerable experience with
companies in
Palmer's industry. The consultant reviewed the budgets
for the past 4 years. He concluded that the product line
sales budgets were reasonable and that the cost and

expense budgets were adequate for the budgeted sales

and production levels.
Instructions
(a) Discuss how the budgeting process employed by
Palmer
Corporation contributes to the failure to achieve the
president's sales and profit targets.
(b) Suggest how Palmer Corporation's budgeting process
could be revised to correct the problems.
(c) Should the functional areas be expected to cut their
costs when sales volume falls below budget? Explain your
answer.
Read More Courses Here. ACC 561 Week 5
DQ 1 | ACC 561 Week 5 DQ 2 | ACC 561 Week 5 Quiz
| ACC 561 Week 5 WileyPLUS Assignment | ACC 561
Week 5 Budgeting Assignment | ACC 561 Week 5
Learning Team Assignment

ACC 561 Week 6 Complete

DQ 1.Can you provide some
opportunity and erosion costs?

examples

of

sunk,

DQ 2.Can you think of one situation where you can use

and apply incremental analysis at home or work? Explain
briefly the situation and how you would conduct the
analysis.

WileyPLUS Assignment Week 6 Practice Quiz

Resource: WileyPLUS
Complete the Week 6 Practice Quiz in WileyPLUS.
WileyPLUS Assignment Week 6 Assignment
Resource: WileyPLUS
Complete the following Week 6 Assignment in WileyPLUS:
Exercises: 20-3
Exercises: 22-1
Brief Exercise 23-3
Brief Exercise 23-4
Brief Exercise 23-6
WileyPLUS Assignment Final Examination
Resource: WileyPLUS
Complete the Final Examination in WileyPLUS. Results are
auto graded and sent to your instructor.
Read More Courses Here. ACC 561 Week 6
DQ 1| ACC 561 Week 6 DQ 2 | ACC 561 Week 6 Quiz
| ACC 561 Week 6 WileyPLUS Assignment | ACC 561
Week 6 Final Exam

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