Trident ACC201 Module 2-4 (Case and SLP)

Trident ACC201 Module 2-4 (Case and SLP) in $150 onlyTrident ACC201 Module 2-4 (Case and SLP)

Case 1

There are two main parts to this Case that requires you to prepare and submit a 3- to 5-page paper. Please make sure this paper is well organized and covers all of the items below.

Part I

  • Why is revenue recognition a significant issue? How do we determine when revenues are recorded for accounting purposes?
  • Explain the difference between a product and period expense.
  • Discuss the matching concept as it relates to accounting for revenues and inventory.

Part II

· Clearly identify the companies, the time period, and include the link to the financial statements you are analyzing in your report.

    • What accounting conventions do the two companies follow, US GAAP or IFRS?
    • Locate the income statement for the past two years for both companies. Prepare a table comparing five items or more from each statement.
    • Comment on the changes from one year to another. Is the company doing better or worse? Did revenues and expenses increase or decrease?

Is it easy to discern trends or compare the information from year to year and between the two companies? Please, comments on both aspects and show some examples.

· The submission should be 3 to 5 pages and need to include answers to all the questions listed above. Show computations, discuss the results and include references in APA format.

When your paper is done, send it in.

SLP

We are using the same company as in the first module. However, you need to consider some additional information.

  • One client had indicated that they were interested in purchasing $42,500 worth of products, so the bookkeeper recorded the transaction. However, the client has not actually committed to the purchase.
  • The bookkeeper already corrected the sales account. However, the bookkeeper may have made a mistake when computing cost of goods sold. She included total production costs for 2014 and did not adjust ending inventory for the $42,500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical count.
Nybrostrand Company
31-Dec-14
Trial Balance (accounts in alphabetical order)
DebitCredit
Accounts payable$ 78,000
Accounts receivable$ 36,500
Cash30,000
Common stock10,000
Depreciation expense24,350
Cost of goods sold307,000
Equipment (net of depreciation)415,000
Insurance1,400
Inventory34,000
Long-term debt127,000
Marketing4,500
Paid-in capital50,000
Property taxes16,900
Rent28,000
Retained earnings?
Revenues586,000
Salaries78,500
Utilities6,700
Total982,850982,850

SLP Assignment Expectations

Prepare an income statement for the company in good format. Always include the name of the company and the period covered in the title. Don’t forget dollar signs where appropriate. You do not need to include the balance sheet. Consequently, you will not need all the accounts listed above. How does the income or loss compare to the original income statement? Explain the importance of the matching concept.

The submission should be 2 to 4 pages and need to include answers to all the questions listed above. Show computations, discuss the results and include references

Module 3

Case 1

The main purpose of this module is to review the balance sheet in more detail.

Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three specific differences. In addition, clearly

  • Distinguish between an expense (expired cost) and an asset.
  • Distinguish between current and long-term assets.
  • Distinguish between current and long-term liabilities.
  • Review Apple’s balance sheet and provide two examples of each of the above categories.
  • Discuss retained earnings and how income or loss and dividends affect this account. Review Apple’s retained earnings account and explain how it changes between the two past years.
  • Comment on at least three differences between Apple’s and Samsung’s balance sheets.
  • Does Apple or Samsung have more debt?
  • Which of the two companies is the bigger one? Explain your reasoning.

Assignment Expectations

The submission should be 3 to 5 pages and need to include answers to all the questions listed above. Show computations, discuss the results and include references in APA format.

When your paper is done, send it in.

SLP

We’re continuing to analyze the same company as in modules 1 and 2.

Additional information added in module 2

  • One client had indicated that they were interested in purchasing $42,500 worth of products. However, the client has not actually committed to the purchase.
  • The bookkeeper already corrected the sales account. However, the bookkeeper may have made a mistake when computing cost of goods sold. She included total production costs for 2014 and did not adjust ending inventory for the $42,500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical count.

Additional information for module 3

  • The company made a secondary offering of stock and raised an additional $180,000 which includes $150,000 of Paid-in Capital.
  • The company had already paid $15,000 in dividends before deciding on the offering.
  • The company now has cash to invest in a piece of raw land on which to build in the future. The investment takes place before year end. The cost of the land is $400,000, the down payment is $40,000 and a note to the bank covers the rest.
Nybrostrand Company
31-Dec-14
Trial Balance (accounts in alphabetical order)
DebitCredit
Accounts payable$ 78,000
Accounts receivable$ 36,500
Cash30,000
Common stock10,000
Depreciation expense24,350
Cost of goods sold307,000
Equipment (net of depreciation)415,000
Insurance1,400
Inventory34,000
Long-term debt127,000
Marketing4,500
Paid-in capital50,000
Property taxes16,900
Rent28,000
Retained earnings?
Revenues586,000
Salaries78,500
Utilities6,700
Total982,850982,850

SLP Assignment Expectations

Prepare a balance sheet for the company in good format. Update the balance sheet for the changes to income in module 2 and also consider the effect of paying the dividend. You do not need to include the income statement.

The submission should be 2 to 4 pages and need to include answers to all the questions listed above. Show computations, discuss the results and include references in APA format.

When your paper is done, send it in.

Module 4

The main purpose of this module is to review the statement of cash flows in more detail.

Is there a difference between direct and indirect methods to make a statement of cash flows? Discuss and note two or three specific differences. In addition, clearly

  • Distinguish between cash flows from operating activities and cash flows from investing activities.
  • Compare the statement of cash flows with income statement using terms of net income and cash at end of the year.
  • Which of the two financial statements (income statement and statesment of cash flows) is the better one? Explain your reasoning.
  • Comment on differences between Apple’s and Samsung’s statement of cash flows.

The submission should be 3 to 5 pages and need to include answers to all the questions listed above. Show formula for computations, compare two financial statements, discuss the results, and include references in APA format.

When your paper is done, send it in.

SLP

We’re continuing to analyze the same company as in modules 1, 2, and 3.

Based on additional information added in modules 2 and 3, please use the information below to make a statement of cash flows.

  • The beginning cash balance is $30,000.
  • Use the Net Income from Module 2.
  • Use depreciation expense of Module 1.
  • During the year 14, Inventory increases by $42,500.
  • During the year 14, Land increases by $400,000.
  • During the year 14, Long-Term Debts increase by $360,000.
  • During the year 14, the company made a secondary offering of stock and raised an additional $180,000 which includes $150,000 of Paid-in Capital.
  • During the year 14, the company had paid $15,000 in dividends.

We’re continuing to analyze the same company as in modules 1, 2, and 3.

Based on additional information added in modules 2 and 3, please use the information below to make a statement of cash flows.

  • The beginning cash balance is $30,000.
  • Use the Net Income from Module 2.
  • Use depreciation expense of Module 1.
  • During the year 14, Inventory increases by $42,500.
  • During the year 14, Land increases by $400,000.
  • During the year 14, Long-Term Debts increase by $360,000.
  • During the year 14, the company made a secondary offering of stock and raised an additional $180,000 which includes $150,000 of Paid-in Capital.
  • During the year 14, the company had paid $15,000 in dividends.

We’re continuing to analyze the same company as in modules 1, 2, and 3.

Based on additional information added in modules 2 and 3, please use the information below to make a statement of cash flows.

  • The beginning cash balance is $30,000.
  • Use the Net Income from Module 2.
  • Use depreciation expense of Module 1.
  • During the year 14, Inventory increases by $42,500.
  • During the year 14, Land increases by $400,000.
  • During the year 14, Long-Term Debts increase by $360,000.
  • During the year 14, the company made a secondary offering of stock and raised an additional $180,000 which includes $150,000 of Paid-in Capital.
  • During the year 14, the company had paid $15,000 in dividends.

Using the Indirect Method, prepare a statement of cash flows for the company in good format and compare two financial statements between the income statement and statement of cash flows. You do not need to include the income statement or balance sheet.

This is a Signature Assignment Expectation for ACC201 Module 4 SLP

There are 2 specific learning outcomes: 1) apply business theories, models, and concepts to guide analysis of problems and situations and 2) utilize data driven analysis in making business decisions.

In this SLP assignment for Module 4 our emphasis will be on understanding the statement of cash flows. You will be summarizing all of what you learned the in the Cases, SLPs and Discussions.

The grading rubric below has been developed to measure student success in meeting the ACC201 Module 4 SLP expectations related to applying your knowledge of the statement of cash flows and income statement on making business decisions.

Assignment ExpectationWeakMarginalAdequateStrong
OrganizationDemonstrates the ability to create content logically, concisely, and in an appropriate manner to understanding of the statement of cash flows.There is no logical sequence of information. Wording is rambling and unfocused.Paper does not follow a logical sequence.Paper follows a logical sequence. There are some minor problems with sub-classification and/or results are not clear.Paper follows a logical sequence with a correct computation and results. Each activity relates to others in a carefully organized framework.
Demonstrates the ability to support a central point or viewpoint throughout the paper.Insufficient elaboration and/or support (e.g., computation, each activity) in the paper.Limited elaboration and/or support in the paper.Support with some specific details and elaboration in the paper.Support through both specific details and elaboration apparent in the paper.
ContentDemonstrates the ability to calculate cash flows from each activity and compare cash flows with net income.The purpose is not identified, is unclear, or inappropriate in the paper.Purpose is occasionally unclear in the paper.Clear purpose, but not consistently sustained throughout the paper.Clear purpose sustained throughout the paper.
Demonstrates the ability to gather and sort accounting information and data on a particular activity.Does not have a grasp of information and appropriate data. Topic is poorly created. Supporting explanations are absent or vague. Trite ideas and/or unclear wording reflect a lack of understanding of topic.Seems uncomfortable with information and data. Topic is evident but with little or no elaboration.Seems comfortable with the accounting information and data. Topic is evident with some supporting details.Demonstrates full knowledge of the topic with explanation and elaboration. The topic is well developed, effectively supported, and appropriate for the assignment. Critical thinking is clearly and creatively expressed. Data choices are well thought out.
DeliveryDemonstrates the ability to use appropriate word choice and grammar in the paper.There are many sentences with grammatical errors. Some sentences are incomplete/halting, and/or vocabulary is somewhat limited or inappropriate.There are a few sentences that are complete and grammatical. Word choice is not always appropriate for presentation.Sentences are generally complete and grammatical, and they flow together easily. With a few exceptions, words are chosen for their precise meaning.All sentences are complete and grammatical, and they flow together easily. Words are chosen for their precise meaning. Word choice illustrates grasp of content and enhances explanation.
Demonstrates the ability to make an effective explanation outline that is free from bias.Words chosen for an explanation are inappropriate and exhibits bias. Some readers may be confused.Words chosen for the paper are free from bias with one or two minor exceptions.Words have no apparent bias. There is some inappropriate explanation.Words and explanation are completely free from bias.

SLP Assignment Expectations

  • Create a statement of cash flows and compare cash flows with net income.
  • Write 2-4 pages, showing computations and discussing the results.
  • List supporting references and cite sources.
  • Use appropriate writing style (organization, grammar, & spelling – see Writing Guidelines).

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