XACC 280 All Assignments

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XACC 280 All Assignments

Week 1:

CheckPoint: Accounting Assumptions, Principles, and Constraints

Write an essay in 250 to 300 words, including the following:

o The basic assumptions of accounting

o The principles of accounting

o The constraints of accounting

o A conclusion stating how you think sound financial reporting depends on principles,

assumptions, and constraints. Refer to the U.S. GAAP in your response.

CheckPoint: The Accounting Equation

View PhxKlips The Accounting Equation on your student Web site.

Write an explanation of the function of each element in the accounting equation, using 100 to

150 words.

Complete E1-5 on p. 34 of Financial Accounting.

Post your explanation of the elements in the accounting equation with the answers to E1-5.

Week 2:

CheckPoint: Debits and Credits

View PhxKlips Debits and Credits on your student Web site.

Complete the questions and fill in the Account Changes matrix in Appendix B.

Post the completed Appendix B as an attachment.

Assignment: Journalizing, Posting, and Preparing a Trial Balance

Complete P2-2A on p. 81 of Financial Accounting, using the templates in Appendix C for

your answers. Each part of the problem corresponds to one tab in Appendix C. Complete all

three tabs of Appendix C.

Write a message of 250 to 400 words in the body of your posting that justifies what you did in

Appendix C. This message constitutes part d of the assignment. Address your message to

your creditors and explain:

o The general goals of financial reporting

o The steps you took in the recording process

o How the steps you took support the principles of accounting

Post your message and the completed Appendix C as an attachment.

Week 3:

CheckPoint: Adjusting Entries, Posting, and Preparing an Adjusted Trial Balance

Complete parts a, b, and c of P3-1A on pp. 128129 of Financial Accounting.

Use the templates in Appendix D. Complete all three tabs.

Post the completed Appendix D as an attachment.

Week 4:

CheckPoint: Subsidiary Ledgers and Special Journals

Explain in 250 to 300 words, your answers to the following:

o What are the advantages of the four different special journals? When would you use each

type?

o What is a subsidiary ledger and what purpose does it serve?

o What is a control account and what purpose does it serve?

o Which two general ledger accounts may act as control accounts for a subsidiary ledger?

o What are the advantages of using subsidiary ledgers?

Assignment: Preparing a Financial Statement Worksheet

Complete E4-1 on pp. 176177 of Financial Accounting.

Use the template in Appendix E to complete the 10-column worksheet.

Post the completed worksheet as an attachment.

Week 5:

CheckPoint: Reversing Entries

Post your answers to BE4-12 on p. 176 of Financial Accounting.

CheckPoint: Closing Entries and a Post-closing Trial Balance

Complete E4-4 on p. 177 of Financial Accounting. Use the templates in Appendix F and

complete all three tabs.

Post the completed Appendix F as an attachment.

Week 6:

CheckPoint: The Nine Steps of the Accounting Cycle

Complete The Nine Steps of the Accounting Cycle multimedia activity.

Capture the screen of the completed accounting cycle in the multimedia activity.

Write a summary of the nine steps of the accounting cycle, in 100 to 200 words.

Post your screen capture and written summary.

Exercise: Financial Statements

Post one or two new concepts you learned from each of the PhxKlips.

Assignment: Comprehensive Problem

Complete the Comprehensive Problem on pp. 189190 of Financial Accounting.

Use the templates in Appendix G to complete the problem; complete all six tabs.

Post the completed Appendix G as an attachment.

Week 7:

CheckPoint: Ratio, Vertical, and Horizontal Analyses

The calculations you perform for this CheckPoint form the basis of your analysis of your capstone

project.

Write in 100 to 200 words an explanation of the three tools of financial statement analysis

and the function of each.

Examine PepsiCo, Inc.s Consolidated Balance Sheet on p. A6 in Appendix A of Financial

Accounting, especially its Current Assets, Current Liabilities, and Total Assets for years 2005

and 2004.

Calculate the following for PepsiCo, Inc. and show your work:

o The Current Ratio for 2005

o The Current Ratio for 2004

o Two measures of vertical analysisfor example, compute the current assets divided by

total assets for each year, and express your result as a percentage

o Two measures of horizontal analysisfor example, compute the total change in assets

by percentage, by dividing current assets in 2005 by current assets in 2004. Compute a

similar percentage for current liabilities

Examine The Coca-Cola Companys Consolidated Balance sheet on p. B2 in Appendix B of

Financial Accounting, especially its Current Assets, Current Liabilities, and Total Assets for

years 2005 and 2004.

Calculate the following for Coca-Cola and show your work:

o The Current Ratio for 2005

o The Current Ratio for 2004

o Two measures of vertical analysisfor example, compute the current assets divided by

total assets for each year, and express your result as a percentage

o Two measures of horizontal analysisfor example, compute the total change in assets

by percentage, by dividing current assets in 2005 by current assets in 2004. Compute a

similar percentage for current liabilities

Post your explanation and calculations.

Exercise: Career Opportunities for Accountants

Post your response to the following items:

o Describe two business sectors you might want to work in if you were an accountant and

explain why in 150 to 200 words.

o Research a specific company in one of the business sectors that interests you and

describe how you imagine it might be to work there. Use 100 to 150 words for your

description.

Week 8:

CheckPoint: Impacts of Unethical Behavior

Research a company that has been in the news for unethical practices, such as Enron, Tyco,

Global Crossing, or WorldCom.

Post a 250- to 300-word response that summarizes your ideas about the following:

o What was the nature of the controversy regarding this companys practices?

o How were accounting practices involved?

o If you had been an accountant for this company, how would you have acted? Explain

why.

o What might have been done to prevent the controversy?

o What was the affect of unethical behavior on the profitability of the company?

CheckPoint: Regulatory Bodies

Post your response to the following question, using 250 to 300 words: What are the major

regulatory bodies and their functions?

Assignment: Internal Controls

Write a 750- to 1,050-word paper in APA format, including citations and references,

summarizing your ideas about internal controls.

Include the following:

o An introduction to internal controls, explaining in your own words the two primary goals of

internal control

o A description of how the Sarbanes-Oxley Act of 2002 has affected internal controls

o An explanation of why a company that announces deficiencies in its internal controls

would probably experience a fall in the price of its stock

o A synopsis of what you consider to be the limitations of internal controls Cite specific

examples.

o A conclusion that summarizes your main points

o A comparison of the internal control principles of (1) establishing responsibility, (2) using

physical, mechanical, and electronic controls, (3) segregation of duties, and (4)

independent internal verification.

Post your completed paper as an attachment.

Week 9:

Capstone Discussion Question

Review the annual reports for PepsiCo, Inc. and The Coca-Cola Company in Appendixes A &

B of Financial Accounting. Select either PepsiCo, Inc. or The Coca-Cola Company. In your

estimation, the company you chose may be financially healthier or weaker.

Would you invest in this company? Explain why or why not. Justify your reasoning, by

presenting at least three key financial ratios that analyze the profitability, the liquidity, or the

solvency of the company.

Respond to your classmates postings, by agreeing or disagreeing with their assessments,

while pointing to the data.

o Respond to at least one classmate who selected different ratios than those you selected

or a different company to analyze.

o Comment on the significance of the ratios and your classmates conclusions.

o Use the same or other ratios to bolster your opinion.

Final Project: Financial Analysis

Review the annual reports for PepsiCo, Inc. and The Coca-Cola Company in Appendixes A

& B, especially the Consolidated Statements of Income and the Balance Sheets on pp. A4,

A6, B1, & B2 of Financial Accounting.

Write a 1750- to 2,050-word paper in APA format with citations and references that provides

a financial comparison of the two companies and your recommendations to improve the

financial status of each.

Include the following:

o An introductory paragraph with a statement of the purpose of your paper and a synopsis

of what readers may expect to find in the paper It is best to write this after writing the

rest of the paper.

o Vertical analyses for both companies You may use your calculations from the

Checkpoint Ratio, Vertical, and Horizontal Analyses, providing you show your work.

o Horizontal analyses for both companies You may use your calculations from the

Checkpoint Ratio, Vertical, and Horizontal Analyses, providing you show your work.

Includes Appendix K, M, N, O, P, and Q

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