FIN 324 Complete Class Flashcards by assignment cloud

FIN 324 Complete Class

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FIN 324 Final Exam

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The primary users of external financial reports are
a. Those who direct day to day operations of a business enterprise
b. Individuals who have an economic interest in the firm but who are not part of management
c. Managers of an enterprise who plan, implement plans, and control costs
d. None of the above
If a company has $15,000 in assets and $10,000 in equities, then liabilities are
a. $25,000
b. $10,000
c. $5,000
d. $0
A revenue account is increased with
a. Debits
b. Credits
c. Equities
d. None of the above
Expense items that have been incurred during a period but not recorded by the end of the period are:
a. Prepaid liabilities
b. Prepaid expenses
c. Deferred expenses
d. Unrecorded liabilities
A purchase of $900 of supplies on account was journalized and posted as $900 debit to Supplies on Hand and a $900 credit to Accounts Receivable. The entry to correct this error is

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FIN 324 Week 1 DQ 1

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Discuss the difference between financial and managerial accounting.

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FIN 324 Week 1 DQ 2

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What is the Financial Accounting Standards Board? What is their purpose?

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FIN 324 Week 1 DQ 3

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Discuss the difference between Certified Public Accountants (CPAs) and Certified Managerial Accountants (CMAs)

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FIN 324 Week 1 DQ 4

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Describe in detail the purpose of the Securities Exchange Commission (SEC).

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FIN 324 Week 1 DQ 5

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What was the purpose of the Sarbanes Oxley Act of 2002?

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FIN 324 Week 1 DQ 6

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What is the purpose of adjusting entries?

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FIN 324 Week 1 DQ 7

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What is a Sub S type of business?

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FIN 324 Week 1 Individual Assignment Ethics Article Review

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Locate an article discussing ethics in accounting and financial decision making.
Prepare a 350- to 700-word review of your selected article. Use the Electronic Reserve Readings (ERR) for FIN/324, the Internet, or other resources locate an article discussing ethics in accounting and financial decision making. Address the following items in your review:

Summarize the article.
Relate the article to the week’s assigned readings.
Discuss how the concepts of the article relate and/or apply to your current or former organization.
Make recommendations for improvement for your organization based on the article.
Explain the importance of ethics in accounting and financial decision making.
Include a description of the Sarbanes-Oxley Act and its impact on accounting and financial decision making.

Format your paper consistent with APA guidelines

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FIN 324 Week 1 Summary

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FIN 324 Week 2 DQ 1

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Describe the relationship between debt and equity on balance sheet and financing activities on cash flow statement.

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FIN 324 Week 2 DQ 2

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Is there a difference between cash and income? Is one more important than the other?

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FIN 324 Week 2 DQ 3

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Example of how cash flow and net income work together.

Is one more important than the other one?

Discuss the importance of ethics and internal control programs.

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FIN 324 Week 2 DQ 4

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Discuss the importance of separation of duties where it relates to the accounting function.

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FIN 324 Week 2 DQ 5

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What is the benefit of cross functional training where it relates to the accounting function?

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FIN 324 Week 2 DQ 6

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Discuss the two different financial statements. Describe their purpose, layout, and relationship to another financial statement.

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FIN 324 Week 2 Individual Assignment Assignments from the Readings

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Resource: Accounting Concepts and Applications
Prepare answers to the following questions and exercises:

o Discussion Questions 5 and 7 (Ch. 1) of Accounting Concepts and Applicationso Practice Exercises 3-1, 3-2, 3-11, 3-12, 3-17—related to 3-11 and 3-12—and 3-19—related to 3-17 (Ch. 3) of Accounting Concepts and Applicationso Exercise 3-34 (Ch. 3) of Accounting Concepts and Applicationso Discussion Questions 7, 9, 15, and 16 (Ch. 4) of Accounting Concepts and Applications

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FIN 324 Week 2 Learning Team Assignment Review of Financial Statements Paper

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You are attending a managerial meeting in your publicly held organization to hear a proposal for a possible corporate merger with a competitor. After a brief discussion, the chief financial officer conducts a presentation showing the competitor’s financial statements. Some of your colleagues have little or no financial background. You have decided to further their understanding by conducting a financial comparison of two publicly traded organizations.

Resources: Electronic Reserve Readings, Week Two readings
Select two publicly traded organizations.
Prepare a 1,050- to 1,400-word paper to provide an introductory overview of the financial statements, addressing the following:

o Provide a brief overview of each organization and highlight key information available on each statement, including the following items for each organization:

What is the organization’s product or service?
When was the organization established?
What accounting organization audited its financial statements?

o Identify the financial statements utilized by your selected organizations.o Define basic accounting concepts, terminology, and transactions discussed in the organization’s financial statements, and list the accounts affected by the transaction. Also, identify financial statements affected by the transaction.

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FIN 324 Week 2 Summary

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FIN 324 Week 3 DQ 1

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What is the difference between operating and financial leverage? Can there be too much financial leverage in a firm? Why or why not?

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FIN 324 Week 3 DQ 3

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Should a company have more debt or more equity in its capital structure? Explain

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FIN 324 Week 3 DQ 4

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What are three U.S. stock exchanges where equities are publicly traded? Why may a stock split not be of great value to existing shareholders? How can a dividend policy be amended to address shareholders’ expectations of increasing returns?

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FIN 324 Week 3 Individual Assignments from the Readings

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Resource: Accounting Concepts and Applications

• Prepare answers to the following exercises:o Practice Exercise 2-14 (Ch. 2) of Accounting Concepts and Applicationso Exercises 2-25, 2-27—Part 1—2-32, 2-29, and 2-33 (Ch. 2) of Accounting Concepts and Applications

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FIN 324 Week 3 Learning Team Assignment Key Financial Relationships Paper http://www.assignmentcloud.com/FIN-324/FIN-324-Week-3-Learning-Team-Assignment-Key-Financial-Relationships-Paper * Resource: Review of Financial Statements Paper * Prepare a 1,050- to 1,400-word summary comparing the organizations’ two most recent fiscal years based on the following: o Discuss the interrelationships noted among data provided by each statement.o Describe where key components of the basic accounting equation are illustrated in the organization’s financial statements.o Describe any control techniques or issues discussed in the statements. • Format your paper according to APA standards

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FIN 324 Week 3 Summary http://www.assignmentcloud.com/FIN-324/FIN-324-Week-3-Summary

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FIN 324 Week 4 DQ 1 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-DQ-1 Define the purpose of working capital.

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FIN 324 Week 4 DQ 2 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-DQ-2 Why is controlling turnover in the inventory important? How can improvements in inventory management affect profitability?

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FIN 324 Week 4 DQ 3 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-DQ-3 What costs are associated with inventory?

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FIN 324 Week 4 DQ 5 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-DQ-5 What are ramifications if an organization has too much cash on hand?

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FIN 324 Week 4 DQ 4 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-DQ-4 Why is controlling turnover in the inventory important? How can improvements in inventory management affect profitability?

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FIN 324 Week 4 DQ 5 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-DQ-5 What are ramifications if an organization has too much cash on hand?

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FIN 324 Week 4 DQ 6 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-DQ-6 How have recent zero money down and zero money interest for 12 months offers affected potential cash buyers?

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FIN 324 Week 4 DQ 7 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-DQ-7 How does extending credit affect working capital requirements and the cash conversion period?

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FIN 324 Week 4 Individual Assignments from the Readings http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-Individual-Assignments-from-the-Readings * Resource: Accounting Concepts and Applications * Prepare answers to the following questions and exercises:o Discussion Questions 9-11, 16, and 18 (Ch. 15) of Accounting Concepts and Applicationso Practice Exercise 15-8, 15-12, and 15-14 (Ch. 15) of Accounting Concepts and Applicationso Exercise 15-23 (Ch. 15) of Accounting Concepts and Applications

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FIN 324 Week 4 Learning Team Assignment Final Report and Presentation http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-Learning-Team-Assignment-Final-Report-and-Presentation The chief executive officer of your organization has asked you to compare the organization you are thinking of acquiring with a competitor. Obtain financial statements for the organization under investigation and its competitor, and perform the following tasks: * Prepare a 700- to 1,050-word summary comparing the organizations’ two most recent fiscal years, based on the following:o Profitability ratioso Management efficiency ratioso Leverage ratios * Select and calculate 6-8 financial ratios from your materials for both fiscal years, analyzing the above topics. Additionally, briefly discuss the concept of operating cost. Finally, evaluate annual and year-to-year results to interpret where your takeover target compares to its competition. * Format your paper according to APA standards

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FIN 324 Week 4 Summary http://www.assignmentcloud.com/FIN-324/FIN-324-Week-4-Summary

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FIN 324 Week 5 DQ 1 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-5-DQ-1 What is the difference between stocks and bonds? Which represents more risk to the organization?

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FIN 324 Week 5 DQ 2 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-5-DQ-2 How does an organization affect its stock price?

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FIN 324 Week 5 DQ 3 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-5-DQ-3 Why is it effective to have agencies that focus on specific industries?

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FIN 324 Week 5 DQ 4 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-5-DQ-4 What are some agencies in the Department of Commerce?

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FIN 324 Week 5 DQ 5 http://www.assignmentcloud.com/FIN-324/FIN-324-Week-5-DQ-5 Does an organization receive money when its stock is traded in the secondary market?

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FIN 324 Week 5 Individual Assignments from the Readings http://www.assignmentcloud.com/FIN-324/FIN-324-Week-5-Individual-Assignments-from-the-Readings * Resource: Fundamentals of Corporate Finance, Accounting Concepts and Applications * Prepare answers to the following problems:o Quiz Problems 1 and 5 (Ch. 19) of Fundamentals of Corporate Finance * Prepare answers to the following question:o Discussion Question 3 (Ch. 22) of Accounting Concepts and Applications

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FIN 324 Week 5 Learning Team Assignment Investor Profile Paper http://www.assignmentcloud.com/FIN-324/FIN-324-Week-5-Learning-Team-Assignment-Investor-Profile-Paper * Resource: Mergent Online database * Select one of the organizations you have analyzed during the course. * Prepare a 350- to 700-word paper in which you address the following:o Identify two lenders the organization uses. o Identify the investment bank the organization uses to issue stock.o Identify and discuss the role these intermediaries play for the organization.o Discuss which government entities regulate securities this organization issues. o Examine the role these entities play for investors. • Format your paper according to APA standards.

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FIN 324 Week 5 Summary http://www.assignmentcloud.com/FIN-324/FIN-324-Week-5-Summary

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