Question 1
Final Project Instructions A major part of the auditing process is risk assessment (fraud risk and audit risk). After the risk assessment, audit procedures are created and performed to reduce those risks. As discussed throughout the course, the audit report is part of the financial reporting package of the company. In this activity, you will apply what you have learned throughout the course to evaluate a publicly traded company or organization for which you have access to its financial reporting information, including the audit report. Project Description: Write a paper of between 800-1,000 words analyzing the company?s audited financial statements. The paper should be formatted using APA guidelines. Project Instructions: Obtain a copy of a company?s most recently audited financial statements. Generally, audited financial statements can be found on the company website in the ?Investor? section or on the SEC website (www.sec.gov). Read the annual report, which will include the financial statements and disclosures, the auditor?s opinion, and any supplementary information provided. Your paper will contain three parts: 1. Introduction - General company background, including business operations. 2. Body - Using the information you have learned from this course about various risks, identify the accounts or transactions that would be considered to have a significant risk of material misstatement. For each risk identified, discuss what type of risk and what auditing procedures you would apply as the auditor to reduce the risk. 3. Conclusion - Discuss the type of audit opinion that was given. What does the opinion mean? Your analysis should include the following: 1. Prepare common-sized income statements and balance sheets (vertical analysis) for the most recent three years. This will show you a comparison of the accounts. 2. For the last four years, prepare trend or horizontal analysis for key financial and non-financial items (at least 2 of each), i.e., items that you consider critical to evaluating the performance of the company. These can be items such as sales, number of stores, etc. 3. Compute relative financial ratios and compare to the industry standards to evaluate the company against benchmarks. 4. Comment on the information found in the cash flow statement; e.g., What are the primary sources and uses of cash? How stable are the major sources of cash? What activities consume the preponderance of the cash? Should any risk be highlighted here and, if so, related to which items? 5. What is the company?s policy regarding revenue recognition? What inventory cost-flow assumption is it using? Do the policies increase risk (i.e., make them more vulnerable to changes in the market)? 6. Comment on the business (economic), financial, operating, and technological risk facing the Company. ________________________________________,What is the estimated timeframe?,I am having difficulties in selecting a company. Would you recommend Comcast?,OK,Thanks!
Question 2
Dover Chemical Company produces three products: ethylene, butane, and eater. Each of these products has high demand in the market, and Dover Chemical is able to sell as much as it can produce of all three. The reaction operation is a bottleneck in the process and is running at 100% of capacity. Dover wants to improve chemical operation profitability. The variable conversion cost is $ 8 per process hour. The fixed cost is $ 550,000. In addition, the cost analyst was able to determine the following information about the three products: 1. 2. 3. Budgeted units produced Total process hours per unit Reactor hours per unit Unit selling price Ethylene 9,000 3 0.75 $ 165 Butane 9,000 3 0.5 $ 132 Ester 9,000 2 1.0 $ 128 Direct materials cost per unit The reaction operation is part of the total process for each of these three products. Thus, for example, 1.0 of the 3 hours required to process ethylene is associated with the reactor. INSTRUCTIONS $ 117 Determine the unit contribution margin for each product. Provide an analysis to determine the relative product profitabilities, assuming that the reactor is a bottleneck. Assume that management wishes to improve profitability by increasing prices on selected products. At what price would ethylene and ester need to be offered in order to produce the same relative profitability as butane?
Question 3
For this assignment, provide the general journal entries to record the necessary information based on each scenario below. You may use a word processing or electronic spreadsheet program to record your answers. In addition, use the following account titles for the transactions: Retained earnings, Dividends payable, Cash, Bonds payable, Interest expense, Interest payable, Paid-in capital, Common Stock, and Preferred Stock. ? Scenario 1: On September 15, 2010, the board of directors of Federated Corporation declared a cash dividend of $1 per share on its 800,000 outstanding shares of common stock. The dividend is payable on October 12 to the stockholders of record on September 30. Give the journal entries necessary on September 15, September 30, and October 12, 2010. ? Scenario 2: North Lake Corporation had 200,000 shares of $10 par value common stock outstanding, on December 1, 2010. The directors voted to split the stock on a 2-for-1 basis, issuing two new shares to stockholders for every one share presently owned. The estimated market value of the new shares will be $14.50. ? Scenario 3: Crockett Corporation issued $200,000 of its 10 percent bonds payable on April 1, 2030. The bonds were issued at face value. Interest is payable semi-annually, on October 1 and April 1. Give the journal entries to issue the bonds and pay each of the first two interest payments to bondholders ? Scenario 4: Beasley Corporation issued 1,000 shares of its $10 par value common stock for cash at $11 per share. Create an entry to reflect the receipt of cash in exchange for the stock sold in the scenario ? Scenario 5: Young Corporation issued 2,000 shares of $25 par value common stock and 300 shares of 13%, $50 par value preferred stock for cash at par value. This scenario is very similar to Scenario 4 except that the company is now selling both common and preferred stock, and the sales are both at par value. You may compose two separate entries or one combined entry to reflect the receipt of cash in exchange for the stock sold in the scenario. Use the following account titles for the transactions: Cash, Accounts Payable, Notes Payable, Interest Payable, Unearned Ticket Revenue, Ticket Revenue, Supplies Expense, Discount, and Interest Expense. create the journal entries that would be necessary to record the information. Any of the seven accounts named in the assignment may be used to compose the required journal entries. As mentioned earlier, remember that each journal entry requires at least one debit and at least one credit, and that the entries should list the debit(s) first, followed by the credit(s). ? Scenario 1: On April 1, 2009 Williams Company borrowed $100,000 from National Bank. The note is a 10%, nine month note. Interest accrues quarterly. The total principal and interest will be paid December 31, 2009. Record the entries for April 1, the quarterly accruals and the payment on 12/31/09. (Remember that the interest expense and the interest payable accounts must show an increase on three occasions (quarterly on 6/30/09, 9/30/09, and finally on 12/31/09). Also, remember to calculate the quarterly interest amount properly.) ? Scenario 2: Midwest University sells 5,000 season baseball tickets at $25 each for its five-game home schedule. Record the entries for the sale of the tickets and the entry after its first home game. (The wording on this scenario is meant to describe a situation in which fans pay for a $25 ?season? ticket that allows them admission to all five future games.) ? Scenario 3: Willams Company is on credit with its major supplier. On May 1, they purchased $10,000 in supplies on credit. The terms are 2/10, net 30. They make the payment on May 10, to take advantage of the discount. Record the entry for the payment on 5/10. (This scenario requires just one entry to record the payment for supplies on May 10th; the trick is to make sure that you record the correct amount of payment in light of the discount being offered.)
Question 4
Computing break-even sales and sales needed to earn a target operating income; graphing CVP relationships; sensitivity analysis [30?45 min] National Investor Group is opening an office in Portland. Fixed monthly costs are office rent ($8,500), depreciation on office furniture ($2,000), utilities ($2,100), spe- cial telephone lines ($1,100), a connection with an online brokerage service ($2,800), and the salary of a financial planner ($4,500). Variable costs include pay- ments to the financial planner (8% of revenue), advertising (13% of revenue), sup- plies and postage (3% of revenue), and usage fees for the telephone lines and computerized brokerage service (6% of revenue). Requirements 1. Use the contribution margin ratio CVP formula to compute National?s breakeven revenue in dollars. If the average trade leads to $1,000 in revenue for National, how many trades must be made to break even? 2. Use the income statement equation approach to compute the dollar revenues needed to earn a target monthly operating income of $12,600. 3. Graph National?s CVP relationships. Assume that an average trade leads to $1,000 in revenue for National. Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line, the operating loss area, the operating income area, and the sales in units (trades) and dollars when monthly operating income of $12,600 is earned. 4. Suppose that the average revenue National earns increases to $1,200 per trade. Compute the new breakeven point in trades. How does this affect the breakeven point?
Question 5
Wicked problems often crop up when organizations have to face constant change or unprecedented challenges. They occur in a social context; the greater the disagreement among stakeholders, the more wicked the problem. In fact, it is the social complexity of wicked problems, as much as their technical difficulties, that make them tough to manage.??Camillus (2008, p. 100) Leadership is about the ?management of meaning,? and that leaders emerge because of their role in framing experience in a way that provides the basis for action; that is, by mobilizing meaning, articulating and defining what has previously remained implicit or unsaid, by inventing images and meanings that provide a focus for new attention and by consolidating, confronting or changing prevailing wisdom.??Smircich & Morgan (1982, p. 258) In life as well as in business, problems often involve many parties, change context on a daily basis, and have more than one possible course of action. The literature calls these problems wicked problems. Consider the various parties, or stakeholders, who may be impacted by the decision of a metals manufacturer, whose waste products have been linked to health problems, to enter a new geographic region. There are positive impacts for job creation, but also potential negative impacts like pollution and public health. There are business, political, and social (health care) stakeholders and those impacted will have varying perspectives on whether the new plant is a positive or negative addition to the community. Politicians may look forward to the possible economic benefits, while healthcare professionals and activists might protest the manufacturer?s potential entry. As a leader in such situations, your role will be one of shaping meaning and providing a framework in which those impacted can see the benefits of your proposed course of action. You will need to derive profits while ethically complying with local law and ensuring public health. Would you and your company be resilient enough to withstand the negative press that protests generate? As a leader, you will be required to think critically: you will encounter various stakeholder perspectives and be required to address competing needs. In such situations, how do you determine the best course of action? Is one stakeholder?s need more important than another? To prepare for this discussion, review Pye?s (2005) account of the retail manufacturing?s Chief Executive?s (CE?s) two ?phases? of leading his organization. Then, in a 750?1000 word response, post your answers to the following questions ? Imagine the job of the CE in the above metals manufacturing concern. Identify the different stakeholders associated with the problem and note how their interests are interrelated. Create alternative viewpoints and develop some ideas to reconcile conflicting positions. Discuss what stakeholder may be least represented in possible outcomes and describe why. With these thoughts in mind, in a 1000?1500 word response, post your answers to the following questions ? How could the resilience questioning put forth in the Margolis article have changed the outcome of the situation? ? Based on your examination of the Peak Learning web site and the parameters of its Adversity Quotient Profile, what adjustments would you have had to make in order to deal with this situation if you were the CE? Note**** Please include the Reference where is required. ? Refercence: ? Conklin, E. J. & Weil, W. (1997) ?Wicked problems: naming the pain in organizations?. Available from http://www.leanconstruction.dk/_root/media/15.pdf ??The authors discuss the concept of wicked problems, and the challenges they pose for leaders. ? Margolis, J. D. & Stoltz, P.G. (2010) ?How to bounce back from adversity?, Harvard Business Review, 88 (?), pp.86?92. Available from: http://sfxhosted.exlibrisgroup.com.ezproxy.liv.ac.uk/lpu?title=Harvard+Business+Review&volume=88&issue=1&spage=86&date=2010?The authors discuss one potential outcome of wicked problems?adversity?and identify how resilience can be developed using critical questions to reframe thinking and create new sense-making from the situation surrounding the wicked problems. Pye, A. (2005). ?Leadership and organizing: sensemaking in action?, Leadership, 1 (1), pp.31?49. Available from: http://lea.sagepub.com.ezproxy.liv.ac.uk/content/1/1/31.full.pdf+html??The author discusses leadership from the perspective of a Social Constructivist and provides a case example of how a CEO was resilient in the face of a challenge and used sense-making to create a shared perspective on implementing change.,i hope you can help me deliver this assignment on Saturday your time morning. I live in singapore and follow GMT+8. I have submit this assignment on saturday.,dear ma'am, Tthis assignment suppose to cover 3 main topic. The topics are 1) Imagine the job of the CE in the above metals manufacturing concern. Identify the different stakeholders associated with the problem and note how their interests are interrelated. Create alternative viewpoints and develop some ideas to reconcile conflicting positions. Discuss what stakeholder may be least represented in possible outcomes and describe why. 2 ) How could the resilience questioning put forth in the Margolis article have changed the outcome of the situation? 3) Based on your examination of the Peak Learning web site and the parameters of its Adversity Quotient Profile, what adjustments would you have had to make in order to deal with this situation if you were the CE? I am not able find which paragraph refer to each topic. Can you throw some lighten. I am sure I would able to differentiate but I have left with only few hr to submit. Please please help me. can you please include the topic as heading and if possible sub headings?
