ACC 561 Education for Service--tutorialrank.com

1. ACC 561 Apply Week 1 Financial Statement L3 Harris Technologies, Inc (May 2020 Syllabus) For more course tutorials visit www.tutorialrank.com Company: L3 Harris Technologies, Inc. Stock Symbol: LHX Open the link to the company's financial statements. The link is listed under the Resources heading (see below). Review the data included with the income statement, balance sheet, and cash flow tabs. 1. Explain the information provided by each financial statement and include specific examples. 2. Review the accounting data and explain positive or negative trends. How does this impact the business? 3. If you were an investor which financial statement AND accounts would you review? Why? 4. If you were a member of the management team which financial statement AND accounts would you review? Why?

2. Write a paper between 1,000 to 1,700 words. Format your paper consistent with APA guidelines. Deliverable: Paper (MS Word) Review your Originality Report generated from SafeAssign. A new originality report is created with each attempt. Your last attempt is used for grading. This is the website for the assignment ============================================== ACC 561 Assignment Week 1 Financial Statements (May 2020) (Two Rivers Inc) For more course tutorials visit www.tutorialrank.com Purpose of Assignment This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company’s liquidity, solvency, and profitability. Two-Rivers Inc. (TRI) manufactures a variety of consumer products. The company's founders have run the company for thirty years and are now interested in retiring. Consequently, they are seeking a purchaser, and a group of investors is looking into the acquisition of TRI. To

3. evaluate its financial stability, TRI was requested to provide its latest financial statements and selected financial ratios. Summary information provided by TRI is presented below. Required: a. Calculate the select financial ratios for the fiscal year Year 2. (use MS word or excel but excel is more recommended) b. Interpret what each of these financial ratios means in terms of TRI's financial stability and operating efficiency. ============================================== ACC 561 Week 2 Small business analysis (May 2020, New Syllabus) For more course tutorials visit www.tutorialrank.com You are interested in establishing a small business. Write a paper between 1,000 and 1,500 words discussing your small-business idea. Include the following:

4. 1. Discuss your business and the product or service your small business provides. 2. Identify which accounting method (i.e. cash versus accrual) you plan to use for your business. Why did you select this choice? 3. List six business transactions you expect to incur with your company. State which accounts (from your chart of accounts) are impacted. 4. Discuss how each business transaction (see point 3) impacts your income statement, balance sheet and statement of cash flow. 5. Select one organization type (sole proprietorship, partnership, C- corporation, and S-corporation) for your company and explain why you selected this option. ============================================== ACC 561 Week 3 Ratio Analysis (BRIDGFORD) (May 2020 Syllabus)

5. For more course tutorials visit www.tutorialrank.com ACC/561: Accounting Top of Form Financial Analysis: 1. Open the Excel spreadsheet provided. Prepare a vertical analysis of Bridgford’s income statement. Enter the percentages in columns C, E, G, I and K. For additional information regarding vertical analysis, please review the following. Vertical Analysis

6. 2. Prepare a projected income statement assuming sales increase by 3% in 2020 and 6% in 2021. Average your vertical analysis percentages for each income statement account and enter the results in column L, rows 5 - 11. Example: Add columns C, E, G, I and K and divide by 5. (64.07+60.58+63.17+67.57+67.34)/5=64.55%. Column L, row 5 = 64.55%. Enter your projected sales number in columns M & N, row 4. Columns M and N: Multiply projected sales by the average percentage for each income statement account. 3. Ratio Computations. Use Excel formulas to calculate financial ratios listed with the income statement and balance sheet tabs. Calculate ratios for seven years (i.e. 2015-2021). Do not prepare ratios that require data from the 2020 and 2021 balance sheet. In this case, “N/A” is entered in the appropriate cell. For additional information regarding ratios, please review the following. Financial Ratios

7. Note: If there is a discrepancy between the formula used in our text versus the formula included with the above link, use the formula incorporated with the above link. 4. Loan: The written section of the project includes a loan discussion and CFO questions and explanations. Use the following resources to complete your analysis. Form 10-K Corporate Annual and Earnings Report

8. 5. Chief Financial Officer Questions: Using the results of your spreadsheet, what questions would you ask the CFO of Bridgford Foods? Explain. Bottom of Form Reply Week 3 Ratio Analysis and 10-K Review Top of Form Bottom of Form Assignment Content

9. Top of Form Prepare an analysis of the assigned company (600 - 2,000 words) in order to secure a loan for the company. The loan will increase the company's total liabilities by 3%. The assigned company is posted to the conversation section in the upper right corner. The contents of the plan should include the following: 1. Discuss the loan amount and how you plan to use the loan proceeds. 2. Use the Excel spreadsheet provided and complete the following. a. Prepare a five year vertical analysis of the company’s income statement. b. Prepare a projected income statement for 2020 and 2021 assuming sales increase by 3% and 6%. c. Compute the ratios listed with the income statement. d. Compute the ratios listed with the balance sheet.

10. 3. Using the results of your spreadsheet, what questions would you ask the CFO of the company? Explain. The assigned company, spreadsheet, detailed instructions, and guidance are provided during week three. To review this information select the conversation icon in the upper right corner. Format your paper consistent with APA guidelines. Deliverables: Paper (MS Word) and Excel Spreadsheet. Review your Originality Report generated from SafeAssign. A new originality report is created with each attempt. Your last attempt is used for grading. ============================================== ACC 561 Week 4 Business Analysis Super bakery (May 2020 Syllabus) For more course tutorials visit

11. www.tutorialrank.com Read the case study provided and write a paper between 1,000 and 1,700 words addressing the following questions. 1. You are a recent MBA graduate and were hired by the company as a business consultant. Your objective is to identify areas for improvement. Present three business recommendations to management and state how this will impact the company's financial statements. 2. Why did company management think it was necessary to install an ABC system? Do you agree with their reasoning? Explain your answer. 3. Evaluate and recommend changes to the organization’s cost drivers. State how this influences cost accounting results and business decision capabilities.

12. 4. Is job order or process costing a viable option for the company. Why or why not? Format your paper consistent with APA guidelines. Deliverable: Paper (MS Word). ============================================== ACC 561 Week 5 Cost analysis and Business Planning (Kosama) (May 2020 Syllabus) For more course tutorials visit www.tutorialrank.com Write a paper between 700 and 1,000 words addressing the following:

13. Part 1, Sections 1-2: Provide calculations and a solution for total variable costs, break even in sales volume (number of members), break even in sales (in dollars), and margin of safety. Part 1, Section 3: Respond to the questions included with the case study. Part 1, Section 4: Assume you decide to invest in the franchise. Provide a description and estimates in dollars for monthly sales, variable and fixed expenses. Explain how you determined each number and provide a written list of assumptions. A case study and instructions are provided during week five. Case Study: In addition to regular gyms, nontraditional workout concepts and centers such as Kosama are increasing in popularity. Kosama is a franchise opportunity that offers members the opportunity to improve their health and fitness level. To learn more about the company visit kosama.com. Part 1, Section 1: Assume the following revenue and cost break-down. Revenue: Monthly membership fee = $28.

14. Costs: -General fixed operating expenses = $3,975 per month. -Equipment Lease = $410 per month. -Towel service = $.50 per member based on volume. -Mixed costs are equal to $275 per/month (fixed) plus $1.10 per membership sale (variable). -Total variable costs are not known. -Estimated number of members required to break even is between 255 and 275 members per month. Using the information provided estimate the amount of variable costs. When performing your analysis, assume that the only fixed costs are the estimated monthly operating expenses, equipment lease and the fixed part of mixed costs. Show your work and all calculations.

15. Part 1, Section 2: Using the information from section 1. What would monthly sales in members and dollars have to be to achieve a target net income of $14,500 for the month? What is the margin of safety in dollars? Show your work and all calculations. Part 1, Section 3: Discuss how cost structure, relevant range, margin of safety, cost behaviors, and CVP apply to an investment in the franchise. How do you plan to use this in order to manage the business and plan for profitability? What type of internal accounting reports would you prepare? Why? Part 1, Section 4: Assume you decide to invest in the franchise. Provide a description and estimates in dollars for sales, variable and fixed expenses. Explain how you determined each number and provide a written list of assumptions. The following is additional explanations and resources. Part 1, Section 1: Use the following formula in order to determine total variable costs. Sales - Variable Costs - Fixed Costs = Net Income. Add the problem data to the formula and solve for the missing piece of the equation (i.e. variable costs).

16. 1. Membership sales is equal to sales volume times the price per member. 2. Total variable costs is not known. Enter X in the above formula. 3. Total fixed costs are provided with the problem. Enter fixed costs in the above formula. 4. Net income at the break even is equal to zero. Enter 0 in the above formula for net income. 5. Solve the equation. X = total variable costs. The above formula determines total variable costs at the break-even. Part 1, Section 2: Use the solution from part 1, section 1 (i.e. variable costs) in order to calculate the contribution margin (i.e. sales - variable costs) on a per unit (member) basis. In addition to fixed costs, add targeted net income equal to $14,500. Contribution Margin:

17. Sales: membership sales times the price per member Minus Variable Costs: See solution in part 1, section 1. Equals: Contribution Margin in dollars Contribution Margin in dollars / number of memberships = contribution margin per member. The next step is to determine what would monthly sales in members and dollars have to be to achieve a target net income equal to $14,500 for the month? Utilize the CVP formula (fixed costs / contribution margin per member) to finalize the problem. Compute the margin of safety. Resource - Enhance learning & understanding: For additional guidance regarding cost volume profit analysis and related cost concepts please review the following. Cost Volume Profit Franchise Agreement: As you review and analyze the franchise opportunity it is important to develop a thorough understanding of the franchise agreement prior to investing. The following is an article that explains the basic fundamentals of an agreement.

18. Franchise Agreement Part 1 Section 4: You need to estimate/project sales, variable, and fixed expenses for your business. The first step is to determine a physical location for your franchise (i.e. city & state). Once this is identified, begin researching what the average monthly fee is for comparable fitness clubs in your area. The monthly fee per customer will help you determine sales revenue. The next step is to estimate your expenses. Do you plan to buy a building or sign a lease? Real estate is typically leased based on square footage. How many square feet does your business require and what is the cost per square foot based on the location of your business? In addition to the lease expense, do you expect to incur additional fixed expenses such as the purchase of fitness equipment? Finally, you need to determine all of your variable expenses. This could include hourly wages, sales commissions, utilities, etc. Assumptions: Explain how you developed estimates for sales revenue and business expenses and list any assumptions. Example: 1. Explain how you developed your monthly fee and volume estimates.

19. 2. Discuss why you decided to rent or buy a building and the related costs such as rent per square foot based on, in part, the location of your business. The key is to present the data in a professional manner so the end user (business owner, etc.) can review the numbers, understand it, and modify it in the future with little effort. If you use Excel add formulas so you can modify the data to account for changes in activity. This will help you manage your investment in the franchise. Example: What if sales volume is more or less than your original estimate? In this case you could change sale volume (number of members) and sales revenue and variable expenses automatically change based on formulas in the spreadsheet. ============================================== ACC 561 Week 6 Budget Preparation And Variance Analysis (May 2020 Syllabus) For more course tutorials visit www.tutorialrank.com The purpose of this assignment is to evaluate and prepare a budget.

20. Resources: Excel File. Tutorials and links to Excel help files were provided during week one of our class. Instructions: 1. Download the Excel file provided. The file is available at the end of week five. 2. Read the instructions tab. 3. Complete the Budget and Variance Analysis tab. 4. Submit the completed Excel file. Download the Excel file provided. Your responsibility is to calculate prior year actual results and prepare a flexible budget. Use prior year data to complete the 2018 variable costing income statement. The flexible budget includes several changes to the data. The changes are listed in the Excel file / Instructions Tab.

21. Excel: In order to minimize errors, improve accuracy, and increase efficiency use formulas in all cells. If you need assistance with Excel review the week one questions thread. Included therein are three options to help you advance your Excel skills. Two links at the bottom are titled “Formula Overview” and “Excel - Basic Math”. The third option is Excel Essential Training (week one learning activities). The tutorials will help you with, in part, formulas and spreadsheet format. Video: In order to gain experience and insight please review the following video. It is a simple presentation and will help everyone develop a basic understanding of flexible budgets. The video was created by a third party. There are additional videos included with the Bing search as well. Flexible Budget Example Flexible Budget Guidance: For additional information regarding flexible budgets please review the following. What is a flexible budget? Based on the example, fixed expenses do not change with volume. Contrary, variable expenses change with volume. With respect to the case study the same principles apply. The only difference is that our

22. variable expenses will change based on sales volume instead of machine hours. Example: Sales Volume 2,640 Feed cost per animal 3.13 Total feed cost = 3,000*3.23=8,263 Advertisement, Bedding and Specialty Food Expense: Advertisement is a fixed expense at the 2,640 volume level (column F). As a result, column F, row 17 is equal to -0-. However, the expense is considered a mixed cost (fixed and variable) with the flexible budget (column H). Bedding and specialty food does not apply to the prior year income statement (column F). As a result, column F, rows 18 and 19 is equal to - 0-. For further clarification my suggestion is to read the instructions tab. Variance and Variance Explanation: A variance is the difference between two numbers. From a budget perspective we typically compare actual business results to our budget. Material deviations are analyzed to help us plan, in part, cash flow, revenue projections, expense levels, and to make informed business decisions.

23. Calculate the variance for all items listed on the spreadsheet (i.e. sales, all variable and fixed expenses, contribution margin, net income, and the break even computation). Column J: Enter the difference between actual results and the budget. Column L: Explain the difference ==============================================