Category: Accounting

Pick only one questions, you DO NOT have to answer both questions:
Discussion Question 1:
Lee Corporation releases its financial statements with a simple capital structure for EPS. This period has seen a significant rise in stock price, and to make more shares available at a lower price, the company has planned on a two-for-one stock split.
What effect would this have on EPS, net assets, and WASO?
Do you recommend that Lee Corporation go ahead with the two-for-one split?
Why or why not?
Discussion Question 2:
There are times when a company has a convertible security that is considered to be antidilutive.
What is the proper accounting treatment of these securities with regard to EPS calculations?
What effect do antidilutive securities have on EPS?
Do you think that they should or should not be included in the calculation of EPS?
Why or why not?
Do the antidilutive securities have an effect on the stakeholder’s perspective of the company’s financial position?
Notes from Professor:
The questions this week will give you the chance to explore more involved issues related to earnings per share. It will have a lot of focus in the world of investing business. Managers need to understand EPS and all the different ratifications. 

Article Writing and Submission Article Submission on Power BI for Publication: Enhancing Accounting with Data Visualization 
Objective: Craft a practitioner-focused article detailing how Power BI can be utilized to enhance accounting processes. The article should instruct on specific uses of Power BI to solve prevalent issues in the field, targeting professional accountants.
Instructions:
Topic Selection:
Identify an accounting process or issue that can be optimized or resolved through data visualization tools like Power BI.
Research the context and importance of this issue within the field of accounting.
Article Development:
Develop an instructional and insightful article that explains how Power BI can address the selected issue.
Provide a detailed walkthrough of the Power BI solution, including setup, dashboard creation, and data interpretation.
Use diagrams, screenshots, and visual examples to clearly convey your points.
Submission Requirements:
Article Length: Target around 5 pages, adhering to the standards of a professional journal.
Reference Articles for Guidance
As part of the course requirements, students are expected to produce practitioner articles that could potentially be published in leading accounting journals. To assist in this endeavor, the following articles have been provided as models to help guide your understanding of effective writing styles, article flow, technical detail, and submission requirements for such publications:
“How Microsoft Power BI Can Provide More Insight Than Excel Alone” – Journal of Accountancy
Read the articleLinks to an external site.
Focus on how the integration of software tools like Power BI enhances traditional Excel tasks.
“Testing Journal Entries with Excel: An Effective Audit Tool” – Journal of Accountancy
Read the articleLinks to an external site.
Note the detailed explanation of procedural steps and the clarity of the audit-related content.
“Automating Excel with Power Query” – CPA Journal
Read the articleLinks to an external site.
Understand the use of Power Query as an automation tool within Excel, highlighting process efficiencies.
“A Better Way to Keep PivotTables Updated” – CPA Journal
Read the articleLinks to an external site.
Analyze the techniques used for maintaining and updating complex Excel PivotTables.
Internal Auditor Journal – The IIA
Visit the journalLinks to an external site.
Explore a variety of topics related to internal auditing to gauge the breadth of subjects and depth of research expected.
These articles serve as exemplars of how to effectively communicate complex information to a professional audience. Students should use these articles to gauge the appropriate depth of content, clarity of explanations, and adherence to professional standards necessary for their submissions to be considered for publication.

Assume you are a mid-level executive at Automotive Solutions Inc., and you have been assigned to analyze the company’s financial statements for 20Y7 and 20Y8 and prepare a report for upper-level organizational leaders.
The following tables show the comparative financial statements for Automotive Solutions Inc. The market price of Automotive Solutions Inc. common stock was $119 on December 31, 20Y8. The market price of Automotive Solutions Inc. common stock was $103 on December 31, 20Y7.
AUTOMOTIVE SOLUTIONS INC.
Comparative Statement of Stockholders’ Equity
For the Years Ended December 31, 20Y8 and 20Y7
20Y8   20Y7
Preferred stock Common stock Retained Earnings   Preferred stock Common stock Retained Earnings
Balances, Jan. 1 $500,000 $500,000 $5,375,000   $500,000 $500,000 $4,545,000
Net income     900,000       925,000
Dividends:              
Preferred stock     (45,000)       (45,000)
Common stock _______ _______  (50,000)   ________ _______  (50,000)
Balances, Dec. 31 $500,000 $500,000 $6,180,000 $500,000 $500,000 $5,375,000
AUTOMOTIVE SOLUTIONS INC.
Comparative Income Statement
For the Years Ended December 31, 2018 and 20Y7
20Y8 20Y7
Sales $10,000,000 $ 9,400,000
Cost of goods sold  (5,350,000)  4,950,000)
Gross profit $ 4,650,000 $ 4,450,000
Selling expenses $(2,000,000) $(1,880,000)
Administrative expenses  (1,500,000)  (1,410,000)
Total operating expenses $ (3,500,000) $(3,290,000)
Operating income $ 1,150,000 $ 1,160,000
Other revenue and expense:    
Other revenue 150,000 140,000
Other expense (interest)  (170,000)  (150,000)
Income before income tax $ 1,130,000 $ 1,150,000
Income tax expense  (230,000)  (225,000)
Net income  $ 900,000  $ 925,000
AUTOMOTIVE SOLUTIONS INC.
Comparative Balance Sheet
December 31, 20Y8 and 20Y7
Dec. 31, 20Y8 Dec. 31, 20Y7
Assets    
Current assets:    
Cash $ 500,000 $ 400,000
Marketable securities 1,010,000 1,000,000
Accounts receivable (net) 740,000 510,000
Inventories 1,190,000 950,000
Prepaid expenses  2,50,000  229,000
Total current assets $3,690,000 $3,089,000
Long-term investments  2,350,000 2,300,000
Property, plant, and equipment (net)  3,740,000  3,366,000
Total assets $9,780,000 $8,755,000
Liabilities    
Current liabilities $ 900,000 $ 880,000
Long-term liabilities:    
Mortgage note payable, 10% $ 200,000 $ 0
Bonds payable, 10%  1,500,000  1,500,000
Total long-term liabilities $1,700,000 $1,500,000
Total liabilities $2,600,000 $2,380,000
Stockholders’ Equity    
Preferred $0.90 stock, $10 par $ 500,000 $ 500,000
Common stock, $5 par 500,000 500,000
Retained earnings  6,180,000  5,375,500
Total stockholders’ equity $7,180,000 $6,375,000
Total liabilities and stockholders’ equity $9,780,000 $8,755,000
In your report to upper management, analyze the company’s financial statements for 20Y7 and 20Y8:
Discuss the purpose of the report and the role of accounting in business.
What are the two major objectives of accounting and how are they achieved?
What kind of information do these financial statements provide to internal stakeholders, such as organizational leaders within the company, and to external stakeholders, such as lenders and current or potential investors?
How do internal and external stakeholders use financial accounting information?
Prepare a liquidity analysis by computing and using the appropriate ratios to assess liquidity.
Compute a minimum of three liquidity ratios for the years ended Dec 31, 20Y8 and Dec. 31, 20Y7 and show your supporting calculations. Use the same three liquidity ratios for both years.
Analyze the ratios computed and discuss any insights or conclusions that can be drawn from your analysis.
Prepare a solvency analysis by computing and using the appropriate ratios to assess solvency.
Compute a minimum of three solvency ratios for the years ended Dec 31, 20Y8 and Dec. 31, 20Y7 and show your supporting calculations. Use the same three solvency ratios for both years.
Analyze the ratios computed and discuss any insights or conclusions that can be drawn from your analysis.
Prepare a profitability analysis by computing and using the appropriate ratios to assess profitability.
Compute a minimum of three profitability ratios for the years ended Dec 31, 20Y8 and Dec. 31, 20Y7 and show your supporting calculations. Use the same three profitability ratios for both years.
Analyze the ratios computed and discuss any insights or conclusions that can be drawn from your analysis.
Draft a summary of what the financial statements indicate about the company’s overall financial health and performance, strengths and weaknesses of the company, as well as any identified positive or negative trends and the risk of investing in the company.
The Financial Statement Analysis final paper
must be 3 to 5 double-spaced pages in length (not including title and references pages) and formatted according to APA StyleLinks to an external site. as outlined in the Writing Center’s APA Formatting for Microsoft WordLinks to an external site. resource.
must include a separate title page with the following in title case:
title of final paper in bold font
Space should appear between the title and the rest of the information on the title page.
student’s name
name of institution (The University of Arizona Global Campus)
course name and number
instructor’s name
due date
must utilize academic voice. Review the Academic VoiceLinks to an external site. resource for additional guidance.
must include an introduction and conclusion paragraph.
Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
For assistance on writing Introductions & ConclusionsLinks to an external site. and Writing a Thesis StatementLinks to an external site., refer to the Writing Center resources.
must use APA Level Headings, found on the Writing Center’s APA Style ElementsLinks to an external site. page, for each one of the topics discussed in the research paper as shown:
Introduction Level 1
Liquidity Analysis Level 1
Solvency Analysis Level 1
Profitability Analysis Level 1
Summary and Conclusion Level 1
must use at least four scholarly and/or credible sources in addition to the course text.
The Scholarly, Peer-Reviewed, and Other Credible SourcesLinks to an external site. table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source.
To assist you in completing the research required for this assignment, review the Quick and Easy Library ResearchLinks to an external site. tutorial, which introduces the University of Arizona Global Campus Library and the research process, and provides some library search tips.
To assist you in completing the research for this assignment, review Company Research in the UAGC LibraryLinks to an external site. tip sheet and How to Use Library OneSearchLinks to an external site. video.
must document any information used from sources in APA Style as outlined in the Writing Center’s APA: Citing Within Your PaperLinks to an external site. guide.
must include a separate references page that is formatted according to APA Style as outlined in the Writing Center.
Review the APA: Formatting Your References ListLinks to an external site. resource in the Writing Center for specifications.

Cloud-based ERP system:
NetSuite is a comprehensive, cloud-based Enterprise Resource Planning (ERP) system. This means businesses can access their data and tools from anywhere with an internet connection, promoting flexibility and remote work.
All-in-one solution:
NetSuite integrates various business processes such as finance, accounting, inventory management, customer relationship management (CRM), human resources, and e-commerce. This integration helps streamline operations and improve efficiency.
Real-time visibility:
The platform provides real-time insights into business performance across all departments. This allows for better decision-making based on up-to-date information.
Scalability:
NetSuite is designed to grow with businesses. It can accommodate the needs of small startups to large enterprises, making it a long-term solution for companies experiencing growth.
Customization:
Businesses can tailor NetSuite to their specific needs using SuiteCloud, a development platform that allows for customizations and integrations with other software.
Automated processes:
NetSuite automates many routine tasks such as order processing, invoicing, and reporting. This reduces manual work, minimizes errors, and allows employees to focus on more strategic tasks.
Financial management:
The system offers robust financial management tools, including general ledger, accounts receivable and payable, tax management, and multi-currency support. This helps businesses maintain accurate financial records and simplifies compliance.
Inventory and supply chain management:
NetSuite provides features for tracking inventory levels, managing vendors, and optimizing the supply chain. This can lead to reduced costs and improved customer satisfaction through better stock management.
Customer relationship management:
The integrated CRM functionality helps businesses manage leads, track customer interactions, and improve sales processes. This can lead to increased customer retention and sales.
Reporting and analytics:
NetSuite offers customizable dashboards and reports that give insights into key performance indicators (KPIs). This enables data-driven decision-making across the organization.
Global business management:
For businesses operating in multiple countries, NetSuite supports different languages, currencies, and compliance requirements, facilitating global expansion.
Regular updates:
Since NetSuite is cloud-based, updates are rolled out automatically, ensuring that businesses always have access to the latest features and security enhancements without the need for manual upgrades.
These are some of the key ways NetSuite helps businesses improve their operations, increase efficiency, and drive growth. Would you like me to elaborate on any specific aspect or provide more information on a particular benefit?

I will provide the link for each question. Picture #1 is question #1, picture #2and3 is question #2, and picture #4 is question #3,  for question # 1 I have a little detail about the case . The audit plan (sheet C-0) is provided so that you can understand the work you must complete. Please be sure to read each tab at the bottom of the worksheet screen for guidance. Make sure you follow the instructions to enter an answer on each workpaper that has a green space highlighted. 
Internal controls are critical to any audit. Auditors’ considerations of internal controls begin as a risk assessment process while auditors understand the design of internal controls. After an initial assessment is made auditors may engage in testing the operation of internal controls. Both understanding the design and testing the operation are key factors in decisions about substantive procedures. This case helps you transition out of risk assessment procedures and into testing internal controls. You are asked to complete both the risk assessment related to internal controls by identifying and creating a flow chart for the purchasing cycle, and testing internal control operations in the revenue cycle. Begin with testing the operation of the revenue cycle which has been mostly completed by other teammates. This helps you see that the focus of internal control testing is centered on whether the internal control action was completed and documented. Use the work done by other auditors as a guide to complete the understanding of the design of controls related to the purchasing cycle. Model that auditor’s work as closely as possible.
The purpose of this mini case is to help you transition from risk assessment procedures into tests of internal controls. In the following cases the work will center on substantive procedures. It is important to understand why internal control testing is performed before substantive procedures. Hopefully, completing this assignment will help you see how this knowledge would be useful to an auditor seeking evidence of transactions and balances and will make internal control testing more understandable. 
General Procedures:
Task:
Review the auditor documentation done by other teammates. 
Complete operations testing of revenue internal controls using voucher packets provided.  
Identify internal controls related to the purchasing cycle using the client prepared narrative. 
Prepare a workpaper to test the operations of internal controls over purchasing.  
To prepare the list of internal controls for the purchasing cycle and place them on your worksheet, you should carefully read the purchases procedures. That is where the company identifies the things that must be done in order to properly process that information. You are looking for things like: who authorizes the purchase and how is that authorization shown on the related paperwork? You can follow the internal controls for the revenue cycle that are provided in the case for examples of how to write your list. 
Deficient controls
When deficient controls are identified, auditors would need to understand the failure and document that and any further impact on the audit. If there is a control over revenue (e.g., invoices are reviewed for correct prices, products, quantities and customer information) that does not operate effectively it is likely that the auditors would increase the nature, timing, or extent of procedures related to sales valuation. 
Management Assertions 
Every internal control should protect the accounting data from a violation of one or more of the management assertions. Don’t forget how       pervasive and important they are.

### Mickey Mouse: The Iconic Symbol of Joy and Imagination
Mickey Mouse, the timeless character created by Walt Disney and Ub Iwerks, is more than just a cartoon character; he is a global cultural icon. Since his debut on November 18, 1928, in the short film “Steamboat Willie,” Mickey has captured the hearts of millions with his cheerful personality, distinctive voice, and iconic look. This essay explores the enduring legacy of Mickey Mouse, his impact on popular culture, and why he remains a beloved figure around the world.
Mickey Mouse’s creation came at a pivotal time for Walt Disney Studios. Walt Disney needed a new character after losing the rights to Oswald the Lucky Rabbit. Mickey’s debut in “Steamboat Willie” was groundbreaking, as it was one of the first synchronized sound cartoons, revolutionizing the animation industry. Mickey’s cheerful whistling and playful antics in the film quickly made him a fan favorite, laying the foundation for Disney’s empire.
One of the key reasons for Mickey Mouse’s enduring popularity is his universal appeal. Mickey embodies qualities that resonate with people of all ages: optimism, resilience, and a sense of adventure. His simplistic yet expressive design, characterized by his large ears, red shorts, and white gloves, makes him easily recognizable and endearing. Over the years, Mickey has appeared in over 130 films, numerous TV shows, and a wide range of merchandise, making him an integral part of global pop culture.
Mickey Mouse’s influence extends beyond entertainment; he is a symbol of creativity and imagination. Walt Disney once said, “I only hope that we never lose sight of one thing—that it was all started by a mouse.” This quote highlights Mickey’s role as the cornerstone of The Walt Disney Company. The character’s success paved the way for the creation of Disneyland and Disney World, places where the magic of Mickey Mouse and other beloved characters comes to life.
In addition to his cultural impact, Mickey Mouse has also been a positive influence on generations of children. Through his various appearances, Mickey teaches valuable lessons about friendship, perseverance, and kindness. Shows like “Mickey Mouse Clubhouse” and “Mickey and the Roadster Racers” continue to entertain and educate young audiences, ensuring that Mickey’s legacy is passed down to future generations.
Mickey Mouse’s significance is also reflected in the numerous awards and honors he has received. In 1978, he became the first animated character to receive a star on the Hollywood Walk of Fame, cementing his status as a true entertainment legend. Mickey’s 90th birthday in 2018 was celebrated worldwide, showcasing his timeless appeal and the love people have for him across different cultures and age groups.
In conclusion, Mickey Mouse is not just a cartoon character; he is an enduring symbol of joy, creativity, and imagination. From his humble beginnings in “Steamboat Willie” to becoming the face of a global entertainment empire, Mickey’s journey is a testament to the power of innovation and the universal language of laughter. As we celebrate over 90 years of Mickey Mouse, we are reminded of the magic that a simple character can bring into our lives, inspiring us to dream, create, and find joy in the little things.

There are many differences in the accounting standards (GAAP) of different countries, but GAAP in virtually all countries requires the use of the accrual basis of accounting. Why do you think that the accrual basis of accounting is required by all countries’ GAAP, and why does now country’s GAAP allow the cash basis of accounting?

For this assignment you will draft a memo to your client Michael Hopkins, the CEO of Canyon Incorporated, explaining various filings required by the Securities and Exchange Commission (SEC). Review the attached “Memo Template” for suggested formatting.
Assume Canyon Incorporated is a beverage manufacturer and competes with PepsiCo and Coca-Cola.
Mr. Hopkins would like information regarding the filings required by the SEC for public companies. He is seeking clarification of the purpose of the Forms 10-Q, 10-K, and 8-K. Within the Form 10-Q, Mr. Hopkins desires to understand the requirements for Part I, items 1-3. What type of information is required to be provided for each item? Why is this information important to users of the financial statements? Also, he wants more information regarding the requirements for Form 10-K Part II, items 7, 7A, and 8, and how these items differ from those presented in Form 10-Q. Emphasize how both forms are used for decision-making. Discuss the information provided in Form 8-K and why this information is required by the SEC.
Also, Mr. Hopkins wants to learn more about how Canyon Inc.’s competitors report and disclose earnings per share (EPS) in the Form 10-K. Review the Form 10-K for either PepsiCo or Coca-Cola. Locate the EPS value on the income statement and review the corresponding notes to the financial statements. Does the information contained in the notes to the financial statements match the information reported on the income statement? If so, what types of source documentation do you think PepsiCo or Coca-Cola used to calculate EPS and to create the note? How can a company ensure the source data are accurate? If the data are not accurate, what could be the explanation as to why there is a discrepancy? How or why you think this discrepancy was allowed to be reported on the income statement and the notes to the financial statements.
The memo should be approximately 500-650 words.
Rubric
Form 10-Q: Explains the purpose and requirements of form 10-Q
Form 10-K: Explains the purpose and requirements of form 10-K
Form 8-K Form: Explains the purpose and requirements of form 8-K
Canyon Inc.’s Competitors EPS: Explains the earnings per share (EPS) for either PepsiCo or Coca-Cola
Thesis, Positions, or Purpose: Communicates reason for writing and demonstrated awareness of audience
Development, Structure, and Conclusion: Advances position or purpose throughout writing; conclusion aligns and evolves from development
Evidence: Selects and Integrates evidence to support and advance position/purpose; considers other perspectives
Mechanics of Writing: Includes spelling, capitalization, punctuation, grammar, language use, sentence structure, etc.
Formate Documentation: Uses appropriate style, such as APA, MLA, etc., for for college, subject, and level; documents sources using citations, footnotes, references, bibliography, etc., appropriate to assignment and discipline

Build a simple relational database based on the data model (p. 95, Figure 4-2). Required tables in your database are as follows. Also You must include the attributes that you identify as primary key or foreign keys in your table. Other attributes in each table are at your discretion to include in your database or not. Please view the instructions doc DB HOMEWORK#1 and follow all the directions!!

Module 3 Discussion Board 2 Week 5 Initial Post Due 6/9
For this module discussion, you are to post an initial response to the topic below of 350-500 words and 1 reply to another student adding new value to the discussion (125-175 words). Initial posts are to be substantive based on reading and research.  Posts are to be unique for each student – not a repeat or paraphrase of what has already been stated. The initial post is due by end of day the Sunday following the chat session.. Reply posts to other students are due the following Sunday. Each module is approximately 2 weeks.  2 posts total during each 2-week period for this discussion.
Social engineering is a challenge for companies to control when confidential information is shared.  What are 3 types of social engineering and describe 2 examples of how this can occur? What can companies do to prevent this from happening?
Reply to Samuel – 150 words
Samuel
Jun 10 8:29pm
Manage Discussion by Samuel
Reply from Samuel
Criminals rely a lot on these techniques called Social Engineering also named “Human Hacking” in where they manipulate people to access, share or send information that they shouldn’t to obtain private personal data or extract it from an organization. From stealing personal data to use a credit card to use an employee personal data to create a dangerous virus within a company are some of the techniques these cyber -criminals use. They use victims’ emotions to persuade them to act against their own.
A widely known social engineering technique used is Phishing, where criminals produce links, webpages or messages to make it look like they are of legit precedence. They also try to manipulate the victim to share information to a supposedly trusted entity.
With the social media boom, Angler Phishing has got the attention of cybersecurities organizations and is one of the most common cyber-attacks that harm peoples identities. Angler Phishing is when criminals pretendent to be working for a company as a customer service representative using social media platforms and making the victim share their personal data, often through a phone call.
An example of this would be a customer complaining on Twitter about a delivery of a specific product from a store. The scammer would pretend to be a customer representative working for that store and offer apologies. Once it has engaged with the customer, it would create a fake reward link and obtain personal information.
Another very famous and dangerous social engineering form used by criminals is the “Water Hole Atack” called like that referring to the wild, when a predator waits for their prey near a watering hole. In these cybersecurity assaults, criminals lure people to access a webpage they would normally use to persuade them to access a malicious link to infect the software with ransomware.
For instance, if a group of cybercriminals determine that a company employee is using a news webpage on a daily basis, they would attempt to infect that webpage with damaged code, hoping the target would access it.
These types of attacks are very difficult to prevent due to the nature of the problem. The criminals intend to affect the human mind instead of machines’ actions. What companies can do to prevent these attacks is to create awareness in it employees, possibly through training to help them understand the possible damage in which they can incur. Cybersecurity technologies always are very popular to help mitigate a possible attack, like double authentication to access private data and spam filters to help catch malicious link before it reach the victim.