5 assignment wk1 | Accounting homework help

1.2 Discussion: Course Preparation Material and Connect

Getting Started

This discussion forum encourages you to explore the abundance of supplemental resources linked directly into this course or provided to you through external sources, such as Connect. These resources are designed to help ensure you will have every opportunity to succeed regardless of your past experience with accounting, finance, or Excel.

Upon successful completion of this discussion, you will be able to:

• Access the assignments and student resources, supplemental materials, and learning technology support items.
• Evaluate what resources would be most beneficial to success in the course.

Resources

Background Information

Students come into this course with widely varying levels of comfort and experience with accounting, finance, and Excel. This course seeks to strike a balance. Those who are already proficient with the fundamentals will have an opportunity to stretch themselves further and prepare for more complex topics in the future. Those who need more assistance are provided with an extensive library of helpful aids to ensure they too can achieve their learning goals. These resources are offered merely as helpful guides, with no points attached, to enable you to do your best.

This assignment helps you identify resources that will aid you in achieving the learning goals of the course. You will explore both the course and Connect. Then you will share three resources you uncovered that you feel will be particularly valuable to you and your classmates. After you have made your post, be sure to check back to see what resources others have found, as they may be helpful to you as well.

Instructions

1. You will earn 10 points upon successful completion of the following tasks:
2. Access your eBook and Connect assignments through Connect in the table of contents.
   1. Select Connect in the Table of Contents.
   2. Select McGraw Hill Deep Integration.
   3. Select Go to my Connect Section.
3. If you need Connect registration assistance, contact McGraw-Hill Tech Support at 800-331-5094 or at www.mhhe.com/support. Direct any issues with Connect to Connect Tech Support first and then your instructor if there is no resolution.
4. Once you have entered your Connect course, be sure to select the “Library” tab in your Connect course where you can find several helpful learning technology support items.
5. Explore the other Assignments in this course, reading each of the assignment instructions for upcoming assignments.
6. As you read, take note of the resources, supplemental materials, or learning technology support items linked to each assignment.
   1. As you read, test a few of the resources, supplemental materials, or learning technology support items to see how they work and how they may help you prepare for your assignments as you make progress through the course.
7. Navigate to the threaded discussion and respond to the following:
   1. List three resources, supplemental materials, or learning technology support items you discovered, either elsewhere in the course or in Connect that you feel will be particularly valuable to you as you make progress through the course.
   2. For each of the three resources, supplemental materials, or learning technology support items that you list, give a short description and explain why you think it will be useful. Provide a click path and screenshot(s) as appropriate to identify where each of the three resources, supplemental materials, or learning technology support items is located so that classmates can find them.
8. This is a Complete/Incomplete assignment. Fulfilling the post requirements as outlined in 7(a) and 7(b) above, listing and explaining three helpful course resources, will result in full credit being awarded.
9. Make your post by the end of the fourth day of the workshop.

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1.3 Discussion: Collaboration Forum

Getting Started

This forum is a general collaboration forum that serves as a venue to discuss, interact with, communicate about, and genuinely engage the subject matter of the workshop in order to increase each other’s understanding. Importantly, it provides you with a chance to ask questions about the reading, problems, and anything in general, and so represents another opportunity to get assistance with the course concepts and your assignments.

Upon successful completion of this discussion, you will be able to:

• Receive timely advice and assistance with assignments to help achieve learning objectives.

Resources

• Textbook: Analysis for Financial Management
• Textbook: Principles of Accounting: Volume 1, Financial Accounting
• Video: Collaboration Forum Introduction

Background Information

The purpose of this collaboration forum is for students to work together (collaborate) in an effort to better understand assignments. While this forum is not a place to provide all your answers (it is NOT designed to facilitate cheating), it is intended for you to help each other if someone is struggling with a particular problem. Participate early and often. Ask your question in this forum by providing needed problem details for reference, then move on to work another problem. Later, come back and see if anyone has provided help for you or if you can provide assistance to a classmate.

Instructions

1. There are no points awarded for this activity. However, you will benefit from completing the exercise, as it will provide helpful academic learning opportunities that correlate with the textbook reading, as well as additional activities that support the topics of both your current and future workshop sessions.
2. Watch the Collaboration Forums Introduction video:
3. Respond by making at least one comment or post that addresses one of the following:
   1. Ask a question about this workshop’s assignments.
   2. Provide an attempted solution or at least a reference to relevant material in the textbook.
   3. Share insights, new understandings, or “ah ha” moments resulting from your reading or work on assignments.
   4. Deepen the discussion by raising the application or the implications of a concept presented in the textbook or devotional materials.
   5. Post a proposed solution to a question raised by another student and then dialogue about it in this forum, attempting to reach a solution.
4. Your postings should:
   1. Clearly state the problem number and problem details as well as the questions that you have.
   2. Provide clear questions and proposed answers with evidence of critical thinking by incorporating material from the assigned reading.
   3. Add greater depth to the discussion by introducing new ideas or observations.
   4. Provide clarification to classmates’ questions and provide insight into the discussion

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1.4 Discussion: Pay Terms Debate (Initial Post)

Getting Started

To stay in business, a company must manage its cash. Cash is the financial lifeblood of any organization. Cash will inevitably flow in and out of the organization, and understanding where cash comes from and where it goes is important. Poor cash flow is the quickest path to bankruptcy, while strong cash flow can be a significant competitive advantage. Therefore, all of a company’s stakeholders are interested in its cash flow. 

Upon successful completion of this discussion, you will be able to:

• Evaluate the ethical and financial implications of real-world payment practices.

Resources

• Textbook: Analysis for Financial Management
• Textbook: Principles of Accounting: Volume 1, Financial Accounting
• Website: Connect
• File: Higgins Chapter 1 Slides
• File: Financial Accounting Chapter 1
• File: Financial Accounting Chapter 2
• Video: Cash Flow and Working Capital

Background Information

In this assignment, you will learn more about cash, which is the most liquid asset of any organization, business, or individual. The concept of cash in itself is not complicated. However, keep in mind a company can be very good at producing accounting profits but poor at generating or managing cash effectively. For example, if a company sells its product by allowing credit but fails to collect payment from its customers, the revenue claimed is ultimately null and void. Simply put, a business that fails to generate cash through its operations will not be able to pay its bills. Investors and creditors will take note and stop providing funding, intensifying the problem.

As a customer, businesses must closely manage their cash flow with their suppliers. Accounts payable, the money owed to suppliers, can be a valuable source of cash. When a company lengthens its pay terms with its suppliers, it is equivalent to taking out a short-term loan. By withholding payments, the company will have more cash on hand, and accounts payable will increase. This cash is then available to fund the company’s project and product ideas. However, this same action has the reverse effect on a supplier. Longer pay terms means the supplier will have less cash on hand, its accounts receivable will increase, and it will have less funding to pursue its own projects.

Many a small business has died after their bank becomes concerned about operating cash flows and calls in their credit line. Even large, stable businesses must carefully manage their cash to ensure sufficient liquid resources to pay wages, cover expenses, and fund their projects. The discussion in this assignment revolves around the risks associated with managing cash and the implications of a company’s pay term decisions. 

Instructions

1. Review the rubric to make sure you understand the criteria for earning your grade.
2. In your textbook, Analysis for Financial Management, read Chapter 1, “Interpreting Financial Statements,” paying particular attention to the review of the cash flow cycle at the beginning of the chapter.
3. In your textbook, Principles of Accounting, read Chapters 1 and 2, “Role of Accounting in Society” and “Introduction to Financial Statements.”
4. Review the Financial Accounting Chapter 1 and Financial Accounting Chapter 2 PowerPoints to help you further understand the chapter concepts.
5. Review Higgins Chapter 1 Slides.
6. Watch the video “Cash Flow and Working Capital”
7. Respond to the following prompts:
   1. From the customer’s perspective, what are the financial implications of lengthening supplier pay terms? What are the financial implications from a supplier’s perspective?
   2. What are the ethical implications of lengthening supplier pay terms? Is this a legitimate business strategy? Why or why not?
   3. Support your position with at least one biblical principle with a specific Bible verse that you feel is relevant to the situation. Explain how and why it applies.
8. Your post should be based on the chapters, as well as other resources that can contribute to the discussion. Use OCLS to search for relevant scholarly sources you can use to support your position.
9. This initial post should be 200–400 words in length and include at least one academic source that is properly cited. Use APA format and include a reference list. Your post is due by the end of the workshop.
   1. For questions on APA style, go to OCLS APA Writing Styles Guides.
10. A single post asserting your position is all that is required for this assignment. However, be prepared to defend your position in the following workshop. 

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1.5 Assignment: Spreadsheet Exercises

Getting Started

This assignment will give you an opportunity to practice building balance sheets and income statements. You will also complete some basic cash flow calculations. These exercises will help prepare you for deeper analysis and interpretation later in the course.

Upon successful completion of this assignment, you will be able to:

• Understand the terminology and structure of basic financial statements.
• Use given financial data to construct basic financial statements.
• Demonstrate the impact of various managerial decisions on financial statements. 
• Interpret financial statements to form conclusions about the financial health of an organization.

Resources

• Textbook: Analysis for Financial Management
• Textbook: Principles of Accounting: Volume 1, Financial Accounting
• Website: Connect
• File: Higgins Chapter 1 Slides
• File: Financial Accounting Chapter 1
• File: Financial Accounting Chapter 2
• File: Assignment 1.5 Worksheet
• File: Financial Statement Practice Problems Workbook

Background Information

An organization’s financial statements reflect history. They show the results of past decisions made by the organization’s leaders. We can review those financial statements to help understand the decisions the organization has made and how it operates. Perhaps more importantly, with a good understanding of financial statements, we can gauge the financial strengths and weaknesses of the organization. This understanding is critical information for making decisions about the future. Whether you are a leader in an organization, a potential investor, or simply an employee, it is crucial you know how to read and interpret financial statements.

For this assignment, you will complete a series of short exercises designed to help you practice preparing financial statements and to demonstrate your understanding of basic accounting terminology and procedures.

Instructions

1. Review the rubric to make sure you understand the criteria for earning your grade.
2. Review the Higgins Chapter 1 Slides.
3. In your textbook, Analysis for Financial Management, read Chapter 1, “Interpreting Financial Statements.”
   1. Review the Financial Accounting Chapter 1 PowerPoint to help you further understand the chapter.
4. In your textbook, Principles of Accounting, read Chapter 2 “Introduction to Financial Statements.”
   1. Review the Financial Accounting Chapter 2 PowerPoint to help you further understand the chapter.
5. Study the Workshop One Practice Problems Workbook to help you better understand the processes used to build financial statements.
6. Using the Excel Assignment 1.5 Worksheet, complete all eight of the following problems:
   1. Income Statement: Problems 1 and 3
   2. Balance Sheet: Problems 2 and 4
   3. Cash Flow: Problems 5, 6, 7, and 8
7. Be sure your Excel spreadsheet is prepared in a professional manner, with answers clearly indicated and all your calculations shown. Full credit will not be given if your process for arriving at the answer is not fully displayed, including any intermediate steps.
8. When you have completed your assignment, save a copy for yourself and submit a copy to your instructor by the end of the workshop.

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1.6 Assignment: Mini Case Study

Getting Started

Making informed financial decisions begins with understanding how to use the information available. During this workshop you have become more acquainted with financial statements and how they can be used to support managerial decisions. This mini case presents a common real-life situation: evaluating the strength of an organization to assess whether it is ready for growth. 

Upon successful completion of this assignment, you will be able to:

• Use given financial data to construct basic financial statements.
• Interpret financial statements to form conclusions about the financial health of an organization.

Resources

• Textbook: Analysis for Financial Management
• Textbook: Principles of Accounting: Volume 1, Financial Accounting
• Website: Connect
• File: Higgins Chapter 1 Slides
• File: Financial Accounting Chapter 2
• File: Assignment 1.6 Worksheet

Background Information

In this workshop, you have learned about the vital nature of cash flow to a company’s survival, much less success. To the surprise and dismay of many business leaders, success and growth often lead to cash flow problems. This is the problem faced by Tad Marks of Sunset Boards. The company is profitable, and demand for its products is quickly growing. As a result, Tad Marks is considering expanding the business and has brought you in as a financial analyst to weigh in on the decision. As a consultant, you will first construct income statements, balance sheets, and a cash flow statement for a company and then attempt to apply your understanding to evaluate the company’s growth plans.

Instructions

1. Review the rubric to make sure you understand the criteria for earning your grade.
2. Review Higgins Chapter 1 Slides and the Financial Accounting Chapter 2 PowerPoints.
3. Using Assignment 1.6 Worksheet, prepare the following financial statements for the mini-case “Financial Statements for Sunset Boards, Inc.”
   1. Income Statement for 2018 and 2019
   2. Balance Sheet for 2018 and 2019
   3. Cash Flow Statement for 2019
4. Tad Marks, the company’s founder, is considering expanding the business, which will require a substantial investment.  Evaluate the financial statements you have developed and Sunset Board’s cash flow. In your Excel document or a separate Word document, write a paragraph explaining whether you feel expansion would be a wise choice and why.
5. When you have completed your assignment, save a copy for yourself and submit a copy to your instructor by the end of the workshop.