Category: Accounting

Explain how stated strategic departmental objectives or goals support corporate goals.Explain why identified support activities are critical for achieving departmental goals.

Planning and Organization

Full instructions are attached below.

Create your department’s response plan (4–5 pages) to the new corporate initiative of doubling sales and the information presented in the CEO’s Sales Goal Announcement [PDF]. Make sure to address all requirements. The scenario presented here will be applicable to the next assessment as well.

Choose one of the following functional areas with which to base your assessment work. (will be accounting and finance)

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment scoring guide criteria:

Competency 1: Analyze characteristics and behaviors of effective managers.

Analyze a decision and the top consideration in addressing it.

Competency 2: Apply managerial principles to planning, organization, control, leadership, and communication.

Explain how stated strategic departmental objectives or goals support corporate goals.

Explain why identified support activities are critical for achieving departmental goals.

Specify a timeline with realistic milestones that support stated objectives.

Explain how a specified reorganization is an effective response to a business challenge.

Competency 3: Communicate effectively and professionally.

Organize content so ideas flow logically with smooth transitions.

Discuss the role played by external audits in helping companies like Next Plc to achieve their strategic objectives. Support your argument with some examples from the 2021 annual report.

Auditing report using “Next plc” 2021 annual report – AUDITING unit covering “Corporate Governance” and role of auditors linking examples to Next Plc report

Part A (50%)

Using the 2021 annual report, analyse NEXT Plc’s overall corporate governance principles and discuss whether or not they are compliant with the UK Corporate Governance Code 2018. Your discussions should be along the lines of the five parts to UK Corporate Governance Code.

Part B (30%)

“Our purpose is to offer beautifully designed, excellent quality clothing and homeware which are

Responsibly sourced and accessibly priced, and in doing so build shareholder value through long

Term, sustainable growth in Earnings Per Share (EPS)” (Next Plc, 2021).

Discuss the role played by external audits in helping companies like Next Plc to achieve their strategic objectives. Support your argument with some examples from the 2021 annual report.

Introduction, Conclusion, Structure and Harvard Referencing (20%)

The report should be well structured (maximum 1,500 words +/- 10%).

What would be your tax liability under this new 18% flat tax system?Would the government have a budget surplus or deficit under this new system with respect to these two taxpayers (assume all other factors remain constant)? Is this system fair?

ACC 261 Online – Discussion Problem 2
Every year during the tax filing season, people complain about how complex the tax system has become. Assume that Congress is considering passing legislation to do away with the current tax system and impose a 18% flat tax on all income. This means there is no longer tax free provisions such as the gain exclusion on the sale of your home, social security income, tax-exempt interest, life insurance proceeds, and child support. This also means that there are no special loopholes, no longer an Alternative Minimum Tax (see Ch. 13), no filing status distinctions, no tax credits, and no graduated tax rates.

1. What would be your tax liability under the current system?

2. What would be the effective tax rate under the current system?

3. What would be your tax liability under this new 18% flat tax system?

4. Would you vote in favor of this flat tax system? Explain your position.

5. Would the government have a budget surplus or deficit under this new system with respect to these two taxpayers (assume all other factors remain constant)? Is this system fair?

 

Evaluate the different challenges arising from complex situations an owner of a small or medium business may face when moving from conventional selling to online selling. Your decisions must address online payment and recent analysis about hidden costs for e- commerce and cloud costs if applicable.

Managerial accounting requirements for E-commerce

1. Critically appraise the costs related to entrepreneurial e-commerce platform that may
include cloud services.
(CLO1 – 5 Marks)

2. Evaluate the different challenges arising from complex situations an owner of a small or
medium business may face when moving from conventional selling to online selling. Your
decisions must address online payment and recent analysis about hidden costs for e-
commerce and cloud costs if applicable.
(CLO3 – 10 Marks)

3. Using the example of small/medium business selected in requirement 2 above, produce a
number of units’ breakeven analysis. The latter should propose different realistic
scenarios for changes in costs and/or revenues that help the business owner to budget
satisfactory net income.
(CLO4 – 25 Marks)

Explain how the ratio is calculated and discuss and interpret the ratios that you calculated. Submit a screenshot of the company financial statements as an appendix. The analysis must show all formula calculations to support your results.

Ratio Analysis

Using the data from the Coca-Cola 2017 Annual Report (Links to an external site.) financial statements, starting on page 60, calculate the following ratios:

Common Stockholders Equity Ratio
Profit Margin Ratio
Cash Ratio
Debt to Equity Ratio
Debt Ratio
Explain how the ratio is calculated and discuss and interpret the ratios that you calculated. Submit a screenshot of the company financial statements as an appendix. The analysis must show all formula calculations to support your results.

Identify at least three of the five different 2013 framework elements that focus on internal control. Make sure that elements connected are related to financial reporting of the organization.

COSO’s Internal Control Integrated Framework

For this assignment, pick a health care organization of your choice. It could be a hospital, large clinic, or care facility.

Identify at least three of the five different 2013 framework elements that focus on internal control. Make sure that elements connected are related to financial reporting of the organization.

Provide your rationale on the reasoning that the selected elements are tied to the financial reporting process in the organization. These are located in Chapter 3 in your textbook.

Design a method in AIS where it can be integrated in the health care industry that will improve the efficiency of its operations.

Design a method in AIS where it can be integrated in the health care industry that will improve the communication of the chosen health care organization.

Draft a one-page recommendation at the end of the document directed to the CEO explaining the findings, recommendations, and benefits of installing an accounting information system.

Identify the type of issue and the people impacted by the ethical issue.Monitor the outcome by providing a fictional ending to the case study. Did the chose approach work? why or why not?

Personal Action Plan for Ethical Decision making

Creating a personal Action Plan for Ethical Decision making

1. Identify the type of issue and the people impacted by the ethical issue.

2.List four possible approaches and analyze the potential outcome of each.

3.Choose the best approach and describe how to implement it.

4. Monitor the outcome by providing a fictional ending to the case study. Did the chose approach work? why or why not?

What month is the highest in terms of sales value? What is the year with the highest sales so far for the ABC Company?What is your forecast of sales for FYE 2013 for each of these categories? How would you use these forecasts as compared to actual FYE 2013 amounts as asserted by management?

Auditing

Sort the file from largest to smallest Sales revenue. Determine a lower bound for the upper stratum. Defend your choice.

Assume that the ABC Company’s FYE is 12/31/12. Check for appropriate sales cutoff. Identify any potential errors in sales revenue.

Use Tableau to determine the market segment of sales by product category and consumer market region. What category of product has the highest sales volume?

What category has the lowest sales volume? What are the top two regions in the world for sales volume of consumer office supplies? Which market region is an emerging market for Superstore Sales?

What month is the highest in terms of sales value? What is the year with the highest sales so far for the ABC Company?

Use the “Show Me” feature to determine which category of furniture sales yields the lowest profit, regardless of geographic location.

Learn about how to create a forecast in Tableau using the following link (and associated webinar): Forecasting with Tableau (Links to an external site.).

Assume that you wish to develop an expectation to compare likely sales levels by month across the three product categories, that is, furniture, office, and technology.

What is your forecast of sales for FYE 2013 for each of these categories? How would you use these forecasts as compared to actual FYE 2013 amounts as asserted by management?