{"id":50038,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/memo-format-needed-by-1400-hrs-eatern"},"modified":"2017-08-16T12:26:01","modified_gmt":"2017-08-16T12:26:01","slug":"memo-format-needed-by-1400-hrs-eatern","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/memo-format-needed-by-1400-hrs-eatern\/","title":{"rendered":"Memo Format. needed by 1400 hrs eatern"},"content":{"rendered":"<p><b>Purpose of Assignment<\/b><\/p>\n<p>This week&#8217;s activity illustrates the role a company&#8217;s accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the impact on both cash and accrual accounting methods.<\/p>\n<p><b>Assignment Steps<\/b><\/p>\n<p><b>Resources:&nbsp;<\/b>Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC)<\/p>\n<p>Tutorial help on Excel\u00ae&nbsp;and Word functions can be found on the Microsoft\u00ae&nbsp;Office website. There are also additional tutorials via the web offering support for Office products.<\/p>\n<p><b>Scenario:&nbsp;<\/b>BizCon, a consulting firm, has just completed its first year of operations. The company&#8217;s sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day financing &#8211; meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year.&nbsp;<\/p>\n<p>As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments.&nbsp;<\/p>\n<p><b>Prepare<\/b>&nbsp;the memo in a maximum 700 words including the following information to better outline the situation:<\/p>\n<ul>\n<li>Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting.<\/li>\n<li>Assess how at the end of the year, BizCon reported a favorable net income, yet the company&#8217;s management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash.<\/li>\n<\/ul>\n<p><b>Format&nbsp;<\/b>your assignment consistent with APA guidelines.<\/p>\n<p><b>Grading Guide<\/b><\/p>\n<p><b>Content<\/b><\/p>\n<p>Met<\/p>\n<p>Partially Met<\/p>\n<p>Not Met<\/p>\n<p>Comments:<\/p>\n<p>Explained how cash and accrual accounting differs for each of the events listed in the scenario and describe the proper accrual accounting.<\/p>\n<p>Assessed how at the end of the year, BizCon reported a favorable net income, yet the company\u2019s management is concerned because the company is very short of cash.&nbsp; Explained to management how BizCon could have positive net income and yet run out of cash.<\/p>\n<p>The memo is a maximum 700words in length.<\/p>\n<p><b>Total Available<\/b><\/p>\n<p><b>Total Earned<\/b><\/p>\n<p>4<\/p>\n<p>#\/4<\/p>\n<p><b>Writing Guidelines<\/b><\/p>\n<p>Met<\/p>\n<p>Partially Met<\/p>\n<p>Not Met<\/p>\n<p>Comments:<\/p>\n<p>The paper\u2014including tables and graphs, headings, title page, and reference page\u2014is consistent with APA formatting guidelines and meets course-level requirements.<\/p>\n<p>Intellectual property is recognized with in-text citations and a reference page.<\/p>\n<p>Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.<\/p>\n<p>Sentences are complete, clear, and concise.<\/p>\n<p>Rules of grammar and usage are followed including spelling and punctuation.<\/p>\n<p><b>Total Available<\/b><\/p>\n<p><b>Total Earned<\/b><\/p>\n<p>2<\/p>\n<p>#\/2<\/p>\n<p><b>Assignment Total<\/b><\/p>\n<p><b>#<\/b><\/p>\n<p><b>6<\/b><\/p>\n<p><b>#\/6<\/b><\/p>\n<p>Additional comments:<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Purpose of Assignment This week&#8217;s activity illustrates the role a company&#8217;s accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify <a href=\"https:\/\/www.benedictsol.com\/blogs\/memo-format-needed-by-1400-hrs-eatern\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-50038","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/50038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=50038"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/50038\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=50038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=50038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=50038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}