Business and Management
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The Effectiveness of Sarbanes-Oxley Act Paper
$7.50The Effectiveness of Sarbanes-Oxley Act Paper
Assess the requirements of the Sarbanes-Oxley Act related to accounting quality, indicating whether or not you believe the requirements are sufficient to protect stockholders and potential investors
Sarbanes-Oxley Act of 2002 Paper
$20.00ACC 561 Week 2 Individual Assignment Sarbanes-Oxley Act of 2002
Write a paper that describes the main aspects of the regulatory environment which will protectthe public from fraud within corporations, Pay particular attention to SOX requirements
Required Elements:
No more than 1400 words
Specifically evaluate whether SOX will be effective in avoiding future frauds.
Format consistent with APA guidelinesTeam Leadership Memo
$7.00MGT 521 Week 5 Individual Assignment Team Leadership
Your manager tells you about a new department the company will be adding that is part of the company’s strategic plan to enter a particular market segment. Your manager would like you to manage one of the teams in this new department. Your manager has put together the team you will be managing.
Your new team consists of the members of your current Learning Team. To be successful in the new market segment, your team must efficiently accomplish the goals set by the company. Your manager, therefore, would like you to develop a leadership approach for each team member on your team based on the theories of leadership and each member’s individual personalities.
Write a memo to your manager of no more than 1,400 words in which you explain how you plan to successfully lead your team. Include the following: Evaluate the individuals, including yourself, based on the personality assessment. Evaluate the situation in terms of urgency, culture, and so forth. Determine leadership approaches, based on individuals and the situation. Highlight the principles you have applied from various leadership theories.
Format your memo consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
Impact of Unethical Behavior Analysis
$3.00Impact of Unethical Behavior Analysis
ACC 291 Week 5 Individual Effect of Unethical Behavior Article Analysis
Write a 350- to 700-word article analysis in which you identify situations that might lead to unethical practices and behavior in accounting.
Examine the effect of the Sarbanes-Oxley Act of 2002 on financial statements.
Cite one article from the Electronic Reserve Readings, the Internet, or other resources.
Format your paper consistent with APA guidelines
Lessons from Lehman Brothers
$7.00CASE APPLICATION 1 Lessons from Lehman Brothers: Will We Ever Learn?
“Greed” and “Crooks” are a sampling of comments recorded on a rendering of Lehman’s chief executive Richard Fuld by artist Geoffrey Raymond, who placed his painting outside of Lehman’s New York City offices and handed out markers to employees and pedestrians so they could write a message regarding the firm’s announcement that it was filing for bankruptcy.
On September 15, 2008, financial services firm Lehman Brothers filed for bankruptcy with the U.S. Bankruptcy Court in the Southern District of New York. 95 That action—the largest Chapter 11 filing in financial history—unleashed a “crisis of confidence that threw financial markets worldwide into turmoil, sparking the worst crisis since the Great Depression.” The fall of this Wall Street icon is, unfortunately, not a new one, as we’ve seen in the stories of Enron, WorldCom, and others. In a report released by bankruptcy court-appointed examiner Anton Valukas, Lehman executives and the firm’s auditor, Ernst & Young, were lambasted for actions that led to the firm’s collapse. He said, “Lehman repeatedly exceeded its own internal risk limits and controls, and a wide range of bad calls by its management led to the bank’s failure.” Let’s look behind the scenes at some of the issues.
One of the major problems at Lehman was its culture and reward structure. Excessive risk taking by employees was openly lauded and rewarded handsomely. Individuals making questionable deals were hailed and treated as “conquering heroes.” On the other hand, anyone who questioned decisions was often ignored or overruled. For instance, Oliver Budde, who served as an associate general counsel at Lehman for nine years, was responsible for preparing the firm’s public filings on executive compensation. Infuriated by what he felt was the firm’s “intentional under-representation of how much top executives were paid,” Budde argued with his bosses for years about that matter, to no avail. Then, one time he objected to a tax deal that an outside accounting firm had proposed to lower medical insurance costs saying, “My gut feeling was that this was just reshuffling some papers to get an expense off the balance sheet. It was not the right thing, and I told them.” However, Budde’s bosses disagreed and okayed the deal.
Another problem at Lehman was the firm’s top leadership. Valukas’s report was highly critical of Lehman’s executives who “should have done more, done better.” He pointed out that the executives made the company’s problems worse by their conduct, which ranged from “serious but nonculpable errors of business judgment to actionable balance sheet manipulation.” Valukas went on to say that “former chief executive Richard Fuld was at least grossly negligent in causing Lehman to file misleading periodic reports.” These reports were part of an accounting device called “Repo 105.” Lehman used this device to get some $50 billion of undesirable assets off its balance sheet at the end of the first and second quarters of 2008, instead of selling those assets at a loss. The examiner’s report “included e-mails from Lehman’s global financial controller confirming that the only purpose or motive for Repo 105 transactions was reduction in the balance sheet, adding that there was no substance to the transactions.” Lehman’s auditor was aware of the use of Repo 105 but did not challenge or question it. Sufficient evidence indicated that Fuld knew about the use of it as well; however, he signed off on quarterly reports that made no mention of it. Fuld’s attorney said, “Mr. Fuld did not know what these 147148transactions were—he didn’t structure or negotiate them, nor was he aware of their accounting treatment.” A spokesperson from Ernst & Young (the auditor) said that, “Lehman’s bankruptcy was the result of a series of unprecedented adverse events in the financial markets.”
Discussion Questions
- D
- What was the culture at Lehman Brothers like? How did this culture contribute to the company’s downfall?
- What role did Lehman’s executives play in the company’s collapse? Were they being responsible and ethical? Discuss.
- C
- After all the public uproar over Enron and then the passage of the Sarbanes-Oxley Act to protect shareholders, why do you think we still continue to see these types of situations? Is it unreasonable to expect that businesses can and should act ethically?
Marketing Plan: Phase 1 – Graco Children’s Products Inc
$15.00MKT 421 Week 2 Team Assignment Marketing Plan Phase 1
Resources: University Library, InternetCreate a new product or service for an existing organization. This product or service will be the basis for your Marketing Plan Paper. Obtain your instructor’s approval of your product or service before beginning this project.Write a 1,400- to 1,750-word paper to include the following:• An overview of the existing organization• A description of the new product or service• An explanation of the importance of marketing to your selected organization’s success• A SWOTT (Strengths, Weaknesses, Opportunities, Threats, and Trends) analysis on the new product or service• The marketing research approach you would use to develop the marketing strategy and tactics for this new product or serviceRefer to the Marketing Plan Outline listed on the student website for the general framework of the Marketing Plan.Format your paper consistent with APA guidelinePersonal Branding Plan Paper
$5.00MKT 421 Week 2 Personal Branding Plan Paper
Personal Branding Plan Paper
Write a 700- to 1050-word paper that does the following:
• Summarizes your background and what makes you unique in a 1-paragraph elevator pitch
• Identifies 3 to 4 companies you want to work for, and an explanation as to why
• Identifies the best methods for contacting those companies and engaging those who might influence the hiring decision
Format your paper consistent with APA guidelines.
Marketing Research Paper Week 3
$7.50MKT 421 Week 3 Individual Assignment Marketing Research Paper
Resources: University Library, Kudler Fine Foods Virtual
OrganizationUse the Virtual Organization link on the student website to access additional company information on Kudler Fine Foods.Write a 1,050- to 1,400-word paper in which you justify the importance of marketing research in the development of Kudler Fine Food’s marketing strategy and tactics, and identify the areas where additional market research is needed. Analyze the importance of competitive intelligence and analysis in regards to the development of Kudler Fine Food’s marketing strategy and tactics.Format your paper consistent with APA guidelines.Week 3 Learning Team Reflection
$5.00ACC 291 Week 3 Learning Team Weekly Reflection
Discuss the objectives for Week Three. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field.
Write a 350- to 1,050-word summary of the team’s discussion.
Comparing IFRS to GAAP Essay
$12.50ACC 291 Week 4 Comparing IFRS to GAAP Essay
Write a 700- to 1,050-word summary of the team’s discussion about IFRS versus GAAP, based on your team collaborative discussions. The summary should be structured in a subject-by-subject format. An introduction and a conclusion are needed. Your essay should include the answers to the following:
IFRS 8-1: What are some steps taken by both the FASB and IASB to move to fair value measurement for financial instruments? In what ways have some of the approaches differed?
IFRS 9-1: What is component depreciation, and when must it be used?
IFRS 9-2: What is revaluation of plant assets? When should revaluation be applied?
IFRS 9-3: Some product development expenditures are recorded as development expenses and others as development costs. Explain the difference between these accounts and how a company decides which classification is appropriate.
IFRS 10-2: Explain how IFRS defines a contingent liability and provide an example.
IFRS10-3: Briefly describe some similarities and differences between GAAP and IFRS with respect to the accounting for liabilities.
Format your essay consistent with APA guidelines.Use the Financial Accounting text and at least two additional scholarly-reviewed references.
Click the Assignment Files tab to submit your assignment.
Favorite Brand Paper
$10.00MKT 421 Week 1 Individual Assignment Favorite Brand Paper
Write a 750- to 1,000-word paper in which you identify your favorite brand and explain why it is your favorite. In the paper you should do the following:
- Identify a brand about which you are passionate.
- Explain a minimum of three reasons why you are passionate about this brand.
- Respond to the following questions:
- Is the company successful in building loyal customer relationships across different groups?
- Why or why not?
- Identify at least two other competitors in the same industry, and explain why you prefer your selected brand over the competitors.
Cite a minimum of three sources from popular media (magazines, newspaper, and online media) that illustrate your points.
Format your paper consistent with APA guidelines
Defining Marketing Paper
$10.00MKT 421 Week 1 Individual Assignment Defining Marketing
Resource: University LibraryWrite a 700- to 1,050-word paper in which you define marketing.Include in your paper your personal definition of marketing and definitions from two different sources. Based on these definitions, explain the importance of marketing in organizational success.Provide at least three examples from the business world to support your explanation. Properly cite sources used in the paper.Format your paper consistent with APA guidelines.Marketing Plan Phase 3
$15.00MKT 421 Week 4 Team Assignment Marketing Plan Phase 3
Resources: University Library, Internet
Use the product or service you selected for your Marketing Plan: Phase I Paper.Write a 1,400- to 1,750-word paper to include the following information:• Describe the attributes of your product or service in detail.• Describe the pace at which your product will move through the product life cycle and the factors that will affect its movement. How will the product life cycle affect the marketing of your selected product or service?• Identify the positioning and differentiation strategies for the product or service.• Identify the appropriate price strategy that should be used for the product or service.Format your paper consistent with APA guidelines.Ratio Analysis Memo ACC/291
$10.00Ratio Analysis Memo ACC/291
Resources: Virtual Organizations
Click the Virtual Organization link to access the Virtual Organizations.
Select one of the Virtual Organizations as the basis for this assignment.
Obtain faculty approval of your selected organization before beginning the assignment.
Access the information contained in your selected organizations balance sheet and income statement to calculate the following:- Liquidity ratios
Current ratio
Acid-test or quick ratio
Receivables turnover
Inventory turnover
Profitability ratios
Asset turnover
Profit margin
Return on assets
Return on common stockholders equity
Solvency ratios
Debt to total assets
Times interest earned
Show your calculations for each ratio.
Create a horizontal and vertical analysis for the balance sheet and the income statement.
Write a 350- to 700-word memo to the CEO of your selected organization in which you discuss your findings from your ratio calculations and your horizontal and vertical analysis. In your memo address the following questions:
What do the liquidity profitability and solvency ratios reveal about the financial position of the company?
Which users may be interested in each type of ratio?
What does the collected data reveal about the performance and position of the company?
Format your memo consistent with APA guidelines.Stockholders’ Equity Lachlin Corporation
$10.00Stockholders’ Equity Lachlin Corporation
ACC 291 WEEK 4 Stockholders’ Equity Section of the Balance Sheet (Lachlin Corporation Balance Sheet)
Purpose of Assignment
The purpose of this assignment is to help you become familiar with examining the stockholders’ equity section of the balance sheet.
Assignment Steps
Resources: Financial Accounting: Tools for Business Decision Making
Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet (partial) below:
· How many shares of common stock are outstanding?
· Assuming there is a stated value, what is the stated value of the common stock?
· What is the par value of the preferred stock?
· If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock?
· If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?
Costing Exercise 1 – Problem 4 Solutions
$20.00Exercise-1 (Unit product cost under variable and absorption costing)
Posted in: Variable and absorption costing exercises
Super Bike Manufacturing Company presents the following data for 2011:
Opening inventory 0 Units
Sales 8,000 Units
Production 10,000 Units
Closing inventory 2,000 Units
Direct materials $240
Direct labor $280
Variable manufacturing overhead expenses $100
Variable selling and administrative expenses $40
Fixed manufacturing overhead expenses $1200,000
Fixed selling and administrative expenses $800,000
Required: Compute the unit product cost of one bike under:
1. Absorption costing system.
2. Variable costing system.Exercise-2 (Variable costing income statement, Reconciliation of net operating income)
Posted in: Variable and absorption costing exercises
The following is the absorption costing income statement of a manufacturing company:
Sales (40,000 units @ $67.50) $2,700,000
Less cost of goods sold:
Opening inventory 0
Add cost of goods manufactured (50,000 ×
42) 2,100,000
———-
Available for use 2,100,000
Less closing inventory 420,000 1,680,000
———- ———-
Gross margin 1,020,000
Less selling and administrative expenses 840,000
———-
Net operating income 180,000
———-
Fixed selling and administrative expenses are $600,000. Variable selling and
administrative expenses are $6 per unit sold. The unit product cost under
absorption costing is computed as follows:
Direct materials $20
Direct labor 8
Variable manufacturing overhead 4
Fixed manufacturing overhead
($500,000/50,000) 10
——-
Total cost per unit $42
——-
Required:
1. Prepare a contribution margin income statement using variable costing system.
2. Reconcile any difference between net operating income figure under variable
costing income statement and net operating income figure under absorption
costing income statement.Exercise-3 (Unit product cost under variable costing, break-even point)
Posted in: Variable and absorption costing exercises
A company manufactures and sells large size tables to be used in the offices of the
executives. One table is sold for $400. The data for 2010 is as follows:
Manufacturing costs:
Direct materials per unit $120
Direct labor per unit $60
Variable manufacturing overhead per unit $20
Fixed manufacturing overhead per year $600,000
Non-manufacturing costs:
Variable selling administrative per unit $40
Fixed selling administrative $900,000
Inventory:
Opening 0
Production during 2010 10,000
———
Units available for sale 10,000
Sales 9,000
———
Closing inventory 1,000
———
Required:
1. Compute cost of one table under variable costing.
2. Prepare income statement if variable costing is used.
3. Compute breakeven point in units.
4. Calculate net operating income of the company under absorption costing by
preparing a reconciliation schedule.Exercise-4 (Variable and absorption costing ending inventory, external reports)
Posted in: Variable and absorption costing exercises
The production and sales data of Albari company for the year 2011 is as follows:
Variable costs per unit:
Direct materials $20
Direct labor $10
Variable manufacturing overhead $4
Variable selling and administrative
expenses
$8
Fixed costs per year:
Fixed manufacturing overhead $180,000
Fixed selling and administrative expenses $600,000
During 2011, Albari company manufactured 30,000 units out of which 25,000 units were
sold. At the end of 2011, the finished goods inventory account showed a balance of
$170,000.
Required:
1. What costing method is used by Albari to compute finished goods inventory?
2. Should company use $170,000 finished goods inventory figure for external
reports? if not what is correct amount in dollars that the company should use for
external reporting purpose?Exercise-5 (Variable and absorption costing income statement, reconciliation)
Posted in: Variable and absorption costing exercises
AGA company manufactures and sells a product for $20/Kg. The data for the last year is
given below:
Sales 75,000 Kg
Finished goods inventory at the beginning of the
period 12,000 Kg
Finished goods inventory at the closing of the period 17,000 Kg
Manufacturing costs:
Variable cost $8 per Kg
Fixed manufacturing overhead cost $320,000 per
year
Marketing and administrative expenses:
Variable expenses $2 per Kg of sale
Fixed expenses $300,000 per
year
Required:
1. Income statement using absorption and variable costing methods.
2. Explanation of the cause of difference in operating income under two concepts.Problem-1 (Variable costing income statement and reconciliation)
Posted in: Variable and absorption costing problems
Absorption costing income statement of a company for the first two years is as follows:
Year-1 Year-2
Sales 2,000,000 3,000,000
Less cost of goods sold:
Beginning inventory 0 340,000
Add cost of goods manufactured 1,700,000 1,700,000
————- ————-
Goods available for sale 1,700,000 2,040,000
Less ending inventory 340,000 0
————- ————-
Cost of goods sold 1,360,000 2,040,000
————- ————-
Gross margin 640,000 480,000
Less selling and administrative expenses* 620,000 680,000
————- ————-
Net operating income 20,000 280,000
————- ————-
*6 per unit variable; $500,000 fixed each year.
The manufacturing cost per unit is computed as follows:
Direct materials $16
Direct labor $20
Variable manufacturing overhead $4
Fixed manufacturing overhead $28
——
$68
——
Sales and production for two years:
Year-1 Year-2
Units produced 25,000 25,000
Units sold 20,000 30,000
Required:
1. Prepare a variable costing (contribution margin) income statement.
2. Reconcile net operating income figures.Problem-2 (Variable and absorption costing unit product costs and income statements)
Posted in: Variable and absorption costing problems
A company manufactures a unique device that is used to boost Wi-Fi signals. The
following data relates to the first month of operation:
Beginning inventory 0
Units produced 40,000
Units sold 35,000
Selling price per unit $120
Selling and administrative expenses:
Variable per unit $4
Fixed (total for the month) $1,120,000
Manufacturing costs:
Direct materials cost per unit $30
Direct labor cost per unit $14
Variable manufacturing overhead cost per unit $4
Fixed manufacturing overhead cost $1,280,000
Management is anxious to see the profitability of newly designed unique booster.
Required:
1. Calculate unit product cost and prepare income statement under variable costing
system and absorption costing system.
2. Prepare income statement under two costing system.
3. Prepare a schedule to reconcile the net operating income under variable and
absorption costing system.Problem-3 (Impact of change in production on variable and absorption costing)
Posted in: Variable and absorption costing problems
AJX company manufactures and sells a single product. Company sold the same number
of units this year as it did last year but generated different profit for two years. The
president asks for the explanation of difference in net operating income for two years.
The income statements of two years are as follows:
Year 1 Year 2
Sales (40,000 units) $2,500,000 $2,500,000
Less cost of goods sold $1,680,000 $1,440,000
————- ————-
Gross margin 820,000 1,060,000
Less selling and administrative expenses 700,000 700,000
————- ————-
Net operating income 120,000 360,000
————- ————-
Sales, production and production for two years are as follows:
Year 1 Year 2
Production in units 40,000 50,000
Sales in units 40,000 40,000
Variable production cost per unit $12 $12
Fixed manufacturing overhead cost $1,200,000 $1,200,000
Variable selling and administrative expenses of AJX are $4.00 per unit sold. A new
manufacturing overhead rate is computed each year.
Required:
1. Calculate unit product cost for both the years under absorption costing and direct
costing (variable costing).
2. Prepare a contribution margin format income statement for two years.
3. Reconcile the net operating income figures for each year under two costing
methods.
4. Explain how operations would have different in year 2 if the company had been
using just in time (JIT) manufacturing and inventory control methods.Problem-4 (Constant production and change in sales – variable and absorption costing)
Posted in: Variable and absorption costing problems
Fine Producers Inc. suffered a loss for the first month of operations. Following is the
income statement prepared by the accounting service providers of Fine Producers.
Sales $400,000
Less variable cost of goods sold $160,000
————
Gross contribution margin $240,000
Less variable selling and administrative expenses $60,000
————
Contribution margin $180,000
Less fixed expenses:
Fixed manufacturing overhead $150,000
Fixed selling and administrative expenses $40,000 $190,000
———— ————
Net operating loss $(10,000)
————
The loss created a serious problem because company was planning to use the statement to
encourage investors to purchase the stock of the company. Other relevant data is given
below:
Units produced during the first month of operation 50,000
Units sold during the first month of operation 40,000
Variable unit cost:
Direct materials $2.00
Direct labor 1.60
Variable manufacturing overhead expenses 0.40
Variable selling and administrative expenses 1.50
Required:
1. What costing method was used by the accounting service providers to prepare
income statement of Fine Producers Inc? Can an absorption costing income
statement show a profit rather than loss? Support your answer with computations.
2. Prepare company’s income statement using variable costing and absorption
costing for the second month if 60,000 units were sold in the second month and
there were no closing inventories.
3. Reconcile the second month’s net operating income under both the costing
approaches.