BUS 591 Financial Accounting & Analysis

Question 1

BUS 591 Week 1 Assignment Homework Problems
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Week One Homework Problems. Complete the following Workbook Template Week One (located in the classroom) or you may complete problems 1-3B and 1-4B from Chapter 1 and problem 2-7B from Chapter 2 of your text. Submit your work to your instructor by the posted due date. Show all your work in order to earn full credit.

Answer 1

BUS 591 Week 1 Assignment Homework Problems
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Week One Homework Problems. Complete the following Workbook Template Week One (located in the classroom) or you may complete problems 1-3B and 1-4B from Chapter 1 and problem 2-7B from Chapter 2 of your text. Submit your work to your instructor by the posted due date. Show all your work in order to earn full credit.

Question 2

BUS 591 Week 1 Discussion 1 Generally Accepted Accounting Principles (G.A.A.P.)

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Generally Accepted Accounting Principles (G.A.A.P.). Briefly discuss Generally Accepted Accounting Principles or G.A.A.P. What are they? What is their purpose? Name the U.S. and international standard-setting bodies that established these principles. Are all companies required to follow these principles? Why or why not?

Your answer should illustrate understanding of generally accepted accounting principles and their international counterpart.

Answer 2

BUS 591 Week 1 Discussion 1 Generally Accepted Accounting Principles (G.A.A.P.)

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Generally Accepted Accounting Principles (G.A.A.P.). Briefly discuss Generally Accepted Accounting Principles or G.A.A.P. What are they? What is their purpose? Name the U.S. and international standard-setting bodies that established these principles. Are all companies required to follow these principles? Why or why not?

Your answer should illustrate understanding of generally accepted accounting principles and their international counterpart.

Question 3

BUS 591 Week 1 Discussion 2 Annual Reports
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Annual Reports. Visit the website forTootsie Roll(www.tootsie.com). Click on “Company Information” then “Financial Information”. Open the latest annual report and review it to find the answers to the following questions:
• What are Tootsie Roll’s corporate principles? Do you agree with these principles, or do you feel there are additional principles that should be included?
• What was the total amount of Tootsie Roll’s assets for the most current year available?
• What was the total amount of Tootsie Roll’s liabilities for the most current year available?
• What is the amount of the difference between Tootsie Roll’s assets and liabilities? What is this differencecalled?

Based on your initial findings at the Tootsie Roll website, would you consider investing in them? Why or why not? Your answer should illustrate critical thought and understanding of the annual report and financial statements

Answer 3

BUS 591 Week 1 Discussion 2 Annual Reports
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Annual Reports. Visit the website forTootsie Roll(www.tootsie.com). Click on “Company Information” then “Financial Information”. Open the latest annual report and review it to find the answers to the following questions:
• What are Tootsie Roll’s corporate principles? Do you agree with these principles, or do you feel there are additional principles that should be included?
• What was the total amount of Tootsie Roll’s assets for the most current year available?
• What was the total amount of Tootsie Roll’s liabilities for the most current year available?
• What is the amount of the difference between Tootsie Roll’s assets and liabilities? What is this differencecalled?

Based on your initial findings at the Tootsie Roll website, would you consider investing in them? Why or why not? Your answer should illustrate critical thought and understanding of the annual report and financial statements

Question 4

BUS 591 Week 1 Week One Quiz
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BUS 591 Week 1 Week One Quiz

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BUS 591 Week 1 Week One Quiz
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BUS 591 Week 1 Week One Quiz

Question 5

BUS 591 Week 2 Assignment Homework Problems
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Week Two Homework Problems. Complete the following Workbook Template Week Two (in the classroom) or you may complete problems 3-2B and 3-5B from Chapter 3 and problems E4-13, E4-14, E4-15,E4-16, E4-17, and E4-18 from Chapter 4 of your text. Submit your work to your instructor by the posted due date. Show all your work in order to earn full credit.

Answer 5

BUS 591 Week 2 Assignment Homework Problems
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Week Two Homework Problems. Complete the following Workbook Template Week Two (in the classroom) or you may complete problems 3-2B and 3-5B from Chapter 3 and problems E4-13, E4-14, E4-15,E4-16, E4-17, and E4-18 from Chapter 4 of your text. Submit your work to your instructor by the posted due date. Show all your work in order to earn full credit.

Question 6

BUS 591 Week 2 Discussion 1 Debits and Credits
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Debits and Credits. Define debits and credits and explain how they are used to record business transactions. Is it true that debits always increase and credits always decrease? Why or why not?

Answer 6

BUS 591 Week 2 Discussion 1 Debits and Credits
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Debits and Credits. Define debits and credits and explain how they are used to record business transactions. Is it true that debits always increase and credits always decrease? Why or why not?

Question 7

BUS 591 Week 2 Discussion 2 Revenue & Expense
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Revenue & Expense. Review the section called “Investor Insight” in Chapter 3 (pg.115) of your text which shows the major revenue and expense accounts of the Chicago Cubs baseball team. Considering the huge increase in professional baseball players’ salaries in the last decade, what do you think has happened to total expenses and net income of professional baseball teams? If net income has not decreased, what has been done to offset the higher salaries? Should fans be expected to pay higher prices for ‘America’s national pastime’ to help offset the costs of higher salaries?

Answer 7

BUS 591 Week 2 Discussion 2 Revenue & Expense
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Revenue & Expense. Review the section called “Investor Insight” in Chapter 3 (pg.115) of your text which shows the major revenue and expense accounts of the Chicago Cubs baseball team. Considering the huge increase in professional baseball players’ salaries in the last decade, what do you think has happened to total expenses and net income of professional baseball teams? If net income has not decreased, what has been done to offset the higher salaries? Should fans be expected to pay higher prices for ‘America’s national pastime’ to help offset the costs of higher salaries?

Question 8

BUS 591 Week 2 Week Two Quiz
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BUS 591 Week 2 Week Two Quiz

Answer 8

BUS 591 Week 2 Week Two Quiz
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BUS 591 Week 2 Week Two Quiz

Question 9

BUS 591 Week 3 Assignment Homework Problems
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Week Three Homework Problems. Complete the following Workbook Template Week Three (in the classroom) or you may complete problems E5-2, E5-6 and P5-5B from Chapter 5 and problems 6-2B and 6- 3B from Chapter 6 of your text. Submit your work to your instructor by the posted due date. Show all your work in order to earn full credit.

Answer 9

BUS 591 Week 3 Assignment Homework Problems
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Week Three Homework Problems. Complete the following Workbook Template Week Three (in the classroom) or you may complete problems E5-2, E5-6 and P5-5B from Chapter 5 and problems 6-2B and 6- 3B from Chapter 6 of your text. Submit your work to your instructor by the posted due date. Show all your work in order to earn full credit.

Question 10

BUS 591 Week 3 Discussion 1 Perpetual Inventory System
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Perpetual Inventory System. Present a detailed explanation of the recording of purchases under a perpetual inventory system. Use hypothetical figures to illustrate the perpetual inventory system. After presenting your hypothetical figures, discuss how a perpetual inventory system is different from a periodic inventory system. Your answer should illustrate understanding of the perpetual inventory system. Respond to at least two of your classmates’ posts.

Answer 10

BUS 591 Week 3 Discussion 1 Perpetual Inventory System
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Perpetual Inventory System. Present a detailed explanation of the recording of purchases under a perpetual inventory system. Use hypothetical figures to illustrate the perpetual inventory system. After presenting your hypothetical figures, discuss how a perpetual inventory system is different from a periodic inventory system. Your answer should illustrate understanding of the perpetual inventory system. Respond to at least two of your classmates’ posts.

Question 11

BUS 591 Week 3 Discussion 2 Inventory Valuation Methods
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Inventory Valuation Methods.Identify the differences between F.I.F.O., L.I.F.O., and the average-cost method of inventory valuation. Be sure to include the effects of each method on cost of goods sold and net income in your answer. Also discuss the differences between the physical movement of goods and cost flow assumptions. Your answer should illustrate understanding of the three major inventory valuation methods, and the relationship between physical inventory flow and cost flow assumptions.

Answer 11

BUS 591 Week 3 Discussion 2 Inventory Valuation Methods
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Inventory Valuation Methods.Identify the differences between F.I.F.O., L.I.F.O., and the average-cost method of inventory valuation. Be sure to include the effects of each method on cost of goods sold and net income in your answer. Also discuss the differences between the physical movement of goods and cost flow assumptions. Your answer should illustrate understanding of the three major inventory valuation methods, and the relationship between physical inventory flow and cost flow assumptions.

Question 12

BUS 591 Week 3 Week Three Quiz
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BUS 591 Week 3 Week Three Quiz

Answer 12

BUS 591 Week 3 Week Three Quiz
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BUS 591 Week 3 Week Three Quiz

Question 13

BUS 591 Week 4 Assignment Homework Problems
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Week Four Homework Problems. Complete the following Workbook Template Week Four (in the classroom) or you may complete problems P8-2B and P8-6B from Chapter 8 and problems P9-2B and P9-7B from Chapter 9 of your text. Submit all your work to your instructor by the posted due date. Show all your work in order to earn full credit.

Answer 13

BUS 591 Week 4 Assignment Homework Problems
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Week Four Homework Problems. Complete the following Workbook Template Week Four (in the classroom) or you may complete problems P8-2B and P8-6B from Chapter 8 and problems P9-2B and P9-7B from Chapter 9 of your text. Submit all your work to your instructor by the posted due date. Show all your work in order to earn full credit.

Question 14

BUS 591 Week 4 Discussion 1 Why do I Need Accounting?
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Why do I Need Accounting?Consider the following scenario: Your friend (who is also in school) just emailed you to express frustration with his accounting class. In the email, he said, “Why do I need to take accounting? What will I ever need to know about reporting and analyzing long-lived assets? I am a management major.”
Write a 100- to 250-word response to your friend, including specific details about the benefits of learning accounting. Focus particularly on reporting and analyzing long-lived assets from a manager’s perspective. Discuss the benefit and purpose of learning accounting as a business student.

Answer 14

BUS 591 Week 4 Discussion 1 Why do I Need Accounting?
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Why do I Need Accounting?Consider the following scenario: Your friend (who is also in school) just emailed you to express frustration with his accounting class. In the email, he said, “Why do I need to take accounting? What will I ever need to know about reporting and analyzing long-lived assets? I am a management major.”
Write a 100- to 250-word response to your friend, including specific details about the benefits of learning accounting. Focus particularly on reporting and analyzing long-lived assets from a manager’s perspective. Discuss the benefit and purpose of learning accounting as a business student.

Question 15

BUS 591 Week 4 Discussion 2 Sarbanes-Oxley Act of 2002
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Sarbanes-Oxley Act of 2002. Search the Internet and locate an annual financial report for a public U.S. company. Read the Notes to the Financial Statements to determine the criteria for cash equivalents and how cash and cash equivalents are handled. Discuss your findings. Find information about the internal controlpolicy of the company and summarize this policy in your post. Is it in compliance with SOX? What are some references to SOX mentioned in the annual report? Your answer should demonstrate understanding of the Sarbanes-Oxley Act, and be a minimum of 100 to 200 words in length.

Answer 15

BUS 591 Week 4 Discussion 2 Sarbanes-Oxley Act of 2002
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Sarbanes-Oxley Act of 2002. Search the Internet and locate an annual financial report for a public U.S. company. Read the Notes to the Financial Statements to determine the criteria for cash equivalents and how cash and cash equivalents are handled. Discuss your findings. Find information about the internal controlpolicy of the company and summarize this policy in your post. Is it in compliance with SOX? What are some references to SOX mentioned in the annual report? Your answer should demonstrate understanding of the Sarbanes-Oxley Act, and be a minimum of 100 to 200 words in length.

Question 16

BUS 591 Week 4 Week Four Quiz
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BUS 591 Week 4 Week Four Quiz

Answer 16

BUS 591 Week 4 Week Four Quiz
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BUS 591 Week 4 Week Four Quiz

Question 17

BUS 591 Week 5 Assignment Financial Reporting and the SEC
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Financial Reporting and the SEC. In an eight- to ten-page paper (not including the title and reference pages) research and discuss the SEC’s company filings requirements. In your paper:
• Describe how investors can use the Securities and Exchange Commission’s (SEC) EDGAR database to quickly research a company’s financial information filed on Forms 10-K and 10-Q.
• Identify the differences between the Annual Report send to shareholders and the Annual Report on Form 10-K, which must be filed with the SEC.
• Describe the contents of:
o Form 10-K SEC filings
o Management Discussion and Analysis
o Auditors’ Report
o Selected Financial Data.
• Discuss how the SEC”s requirement for domestic and foreign companies using US GAAP to provide their financial statements in the XBRL format can improve financial reporting?
• Most publicly traded companies are examined by numerous analysts. Find analysts’ ratings about a company of your choice by visiting biz.yahoo.com/I. Provide a comparison over time and across companies in the same industry by answering the following questions:
o How many analysts rated the company?
o What percent age rated it a strong buy?
o What was the average rating for the week
o Did the average rating improve or decline relative to the previous week?

Answer 17

BUS 591 Week 5 Assignment Financial Reporting and the SEC
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Financial Reporting and the SEC. In an eight- to ten-page paper (not including the title and reference pages) research and discuss the SEC’s company filings requirements. In your paper:
• Describe how investors can use the Securities and Exchange Commission’s (SEC) EDGAR database to quickly research a company’s financial information filed on Forms 10-K and 10-Q.
• Identify the differences between the Annual Report send to shareholders and the Annual Report on Form 10-K, which must be filed with the SEC.
• Describe the contents of:
o Form 10-K SEC filings
o Management Discussion and Analysis
o Auditors’ Report
o Selected Financial Data.
• Discuss how the SEC”s requirement for domestic and foreign companies using US GAAP to provide their financial statements in the XBRL format can improve financial reporting?
• Most publicly traded companies are examined by numerous analysts. Find analysts’ ratings about a company of your choice by visiting biz.yahoo.com/I. Provide a comparison over time and across companies in the same industry by answering the following questions:
o How many analysts rated the company?
o What percent age rated it a strong buy?
o What was the average rating for the week
o Did the average rating improve or decline relative to the previous week?

Question 18

BUS 591 Week 5 Discussion 1 Liabilities and Financial Analysis
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Liabilities and Financial Analysis. Discuss current liabilities and long-term liabilities. What are the differences between the two? Illustrate your understanding of liabilities, making sure to identify major types of current liabilities.

Answer 18

BUS 591 Week 5 Discussion 1 Liabilities and Financial Analysis
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Liabilities and Financial Analysis. Discuss current liabilities and long-term liabilities. What are the differences between the two? Illustrate your understanding of liabilities, making sure to identify major types of current liabilities.

Question 19

BUS 591 Week 5 Discussion 2 Colgate’s Annual Report
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Colgate’s Annual Report. Obtain a copy of Colgate’s annual report from the Ashford Online Library or from a valid academic source found elsewhere on the Internet. Use this information to answer the following questions. If researching online, go to the Colgate company website (http://www.colgate.com). Use the ratios discussed in Chapter 11 (dividend payout ratio and return on common stockholders’ equity) to evaluate Colgate’s dividend and earnings performance from a stockholder’s perspective. Your answer should illustrate understanding of dividend ratios and return on equity ratios, an analysis of financial statements.

Answer 19

BUS 591 Week 5 Discussion 2 Colgate’s Annual Report
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Colgate’s Annual Report. Obtain a copy of Colgate’s annual report from the Ashford Online Library or from a valid academic source found elsewhere on the Internet. Use this information to answer the following questions. If researching online, go to the Colgate company website (http://www.colgate.com). Use the ratios discussed in Chapter 11 (dividend payout ratio and return on common stockholders’ equity) to evaluate Colgate’s dividend and earnings performance from a stockholder’s perspective. Your answer should illustrate understanding of dividend ratios and return on equity ratios, an analysis of financial statements.

Question 20

BUS 591 Week 6 Discussion 1 Indirect Method vs. Direct Method
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Indirect Method vs. Direct Method. Financial statement preparers have two choices in preparing the statement of cash flows: the indirect method and the direct method. The indirect method is used extensively in practice even though the F.A.S.B. has expressed a preference for the direct method. Discuss the similarities and differences between the direct and indirect methods, and the advantages of using each method. Your answer should illustrate understanding of the cash flow statement. A minimum of 100 to 200 words is required for your answer.

Answer 20

BUS 591 Week 6 Discussion 1 Indirect Method vs. Direct Method
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Indirect Method vs. Direct Method. Financial statement preparers have two choices in preparing the statement of cash flows: the indirect method and the direct method. The indirect method is used extensively in practice even though the F.A.S.B. has expressed a preference for the direct method. Discuss the similarities and differences between the direct and indirect methods, and the advantages of using each method. Your answer should illustrate understanding of the cash flow statement. A minimum of 100 to 200 words is required for your answer.

Question 21

BUS 591 Week 6 Discussion 2 Horizontal vs. Vertical Analysis
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Horizontal vs. Vertical Analysis. Discuss the horizontal and vertical analysis of a financial statement, and how each is used to help financial statement users make better decisions. Also, explain the liquidity, solvency, and profitability ratios introduced throughout the text. Describe how the ratios are used in analyzing a firm’s liquidity, solvency, and profitability. Your answer should illustrate understanding of financial statement analysis, including ratios. A minimum of 100 to 200 words is required for your answer.

Answer 21

BUS 591 Week 6 Discussion 2 Horizontal vs. Vertical Analysis
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Horizontal vs. Vertical Analysis. Discuss the horizontal and vertical analysis of a financial statement, and how each is used to help financial statement users make better decisions. Also, explain the liquidity, solvency, and profitability ratios introduced throughout the text. Describe how the ratios are used in analyzing a firm’s liquidity, solvency, and profitability. Your answer should illustrate understanding of financial statement analysis, including ratios. A minimum of 100 to 200 words is required for your answer.

Question 22

BUS 591 Week 6 Final Project
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Final Project. You should begin working on elements of the Final Project in Week One. Each week, there is a recommended learning activity associated with helping you complete the Final Project. There are ungraded and graded practice exercises, which will allow you to practice applying accounting skills learned in class to different scenarios. Work through the problems, starting with Chapter 1, following the instructions in the textbook and Excel template.
Download and open the Excel file BUS591 Final Project Template (in the classroom). Review the instructions presented on the Instructions Tab in the Workbook and the weekly recommended learning activity. If you complete each part as recommended, you will have the complete Final Project finished by Week Six. Chapters 1, 2 and 3 are ungraded practice problems, while Chapters 4 and 13 are graded problems. Take your time and complete all requirements. Also, if you complete the practice problems from Chapter 3, completing the graded portion from Chapter 4 will be much easier.
Do not work ahead unless you read the corresponding chapters. For example, read Chapters 3 and 4 before completing the Continuing Cookie Chronicle problems from those chapters.

Answer 22

BUS 591 Week 6 Final Project
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Final Project. You should begin working on elements of the Final Project in Week One. Each week, there is a recommended learning activity associated with helping you complete the Final Project. There are ungraded and graded practice exercises, which will allow you to practice applying accounting skills learned in class to different scenarios. Work through the problems, starting with Chapter 1, following the instructions in the textbook and Excel template.
Download and open the Excel file BUS591 Final Project Template (in the classroom). Review the instructions presented on the Instructions Tab in the Workbook and the weekly recommended learning activity. If you complete each part as recommended, you will have the complete Final Project finished by Week Six. Chapters 1, 2 and 3 are ungraded practice problems, while Chapters 4 and 13 are graded problems. Take your time and complete all requirements. Also, if you complete the practice problems from Chapter 3, completing the graded portion from Chapter 4 will be much easier.
Do not work ahead unless you read the corresponding chapters. For example, read Chapters 3 and 4 before completing the Continuing Cookie Chronicle problems from those chapters.