Assignment 2: You Are an Entrepreneur! Due Week 6 and worth 280 points Student life does not generally afford a great deal of free time to pursue your personal interests; however, at one point, you may have considered turning a personal interest or hobby into an official enterprise. Today, you have finally decided to turn that hobby into a business but have realized that you need start- up capital from a lender or investor. To obtain funding, you need to convince a lender / investor that your business is more than a hobby. You need to demonstrate that you have a firm grasp of your business, the accounting practices that impact your business, the controls needed to safeguard assets, and which accounting system will produce accurate and All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University. ACC 557 Student Version 1128 (1200 5-8-2013) Final Page 9 of 19 ACC 557 – Assignments and Rubrics Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Examine accounting principles and concepts used in businesses. Assess appropriate internal controls, regulatory requirements according to the Sarbanes-Oxley Act, and fraud prevention and detection. Use technology and information resources to research issues in financial accounting. Write clearly and concisely about financial accounting using proper writing mechanics. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.   Points: 280   Assignment 2: You Are an Entrepreneur!   Criteria  1. Describe the type of business you have created including: a. The product or service, and general staffing plan. Provide a rationale for your plan. b. The form of your business and the
definition of financial accounting (2) Trends of financial accounting and business management (3) Thesis statement 2. Principles and standards of financial accounting (1) Consists of financial accounting (2) Principles of financial accounting (2) Standards of financial accounting 3. Financial accounting perform useful information to make decision (1) Introduction of users in financial accounting (2) Roles in business management (3) Importance of financial accounting…
13/10/2014 Week 11 Measurement of Profit & Reporting Comprehensive Income Week 11 Lecture ACCT2011 Financial Accounting A › Text Readings: - Chapter 16: section 16.1 – 16.3.1 (to p.510) - Chapter 19: section 19.5 › Handbook Readings: - AASB 101 Dr Eagle Zhang 2 Week 11 Learning objectives 1. Understand different approaches to profit measurement and the approach adopted in Australia (Ch 16 LO 1 - 2) 2. Understand the requirements for the preparation of a statement…
Hari ,santosh ,prothsan ,prajjwal Financial accounting Introduction Accounting is a art of , recording ,reporting and analysis of financial transaction of a business . Also accounting is a language of business…
DESCRIPTION This course provides a framework for financial accounting concepts and practices used by internal and external users in businesses. Topics presented include the accounting cycle, financial reporting, financial statements analysis, ratio calculation and interpretation, and management decision making based on financial results. INSTRUCTIONAL MATERIALS Required Resources Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Financial…
Financial Accounting Study online at q uiz let.c o m/_1b r2iw Accounting Sys tem that collects and proces s es (analyzes , meas ures , and records ) financial information about an org anization and reports that information to decis ion makers . Accounting entity Is the org anization for with financial data are to be collected. The four bas ic s tatements : 1. Balance Sheet 2. Income Statement 3. Statement of Retained Earning s 4. Statement of Cas h flows Balance Sheet Reports the amount of…
INTRODUCTION Boyce's (2008) paper identifies various key issues that are seen to have lead many corporate failures, accounting and ethical education. These failures, as seen by Boyce, have shifted the focus from the system in which we operate in to the behavior of individuals. Furthermore, he argues the neglect in the emphasis of change in the way accounting intellectuals educate students is adding to the core failures in identifying unethical behavior. Also, Boyce (2008) identifies the…
Albright Business 101 10 June 2014 Chapter 14: Accounting and Financial Statements The Nature of Accounting: Accounting is the recording, measurement, and interpretation of financial information. Accountants: *Public Accountants include CPA’s which are individuals who have been state certified to provide accounting services ranging from the preparation of financial records and the filing of tax returns, to the complex audits of corporate financial records. *Private Accountants are accountants…
Classification of cash flows 6 3.Notes attached to the Cash Flow statement of Crown Plaza ltd. 7 NOTES : 7 Conclusion For Cash Flows of Crown Plaza Limited 10 Leases of Crown Limited 10 Reasons for Choosing Lease of Crown Plaza Ltd. 10 Accounting Standard for Lease 10 Compliance of Crown Plaza to this Standard AASB 117 11 Notes Attached Regarding Lease 11 Conclusion for Leases for Crown Plaza ltd. 12 Statement of Change in Equity for Crown Plaza ltd . 12 Reasons for Choosing Statement…
Financial Accounting Introduction: Definition: Accounting is the process of identifying, measuring and communicating financial information to help people make economic decisions. Accounting: Financial and Managerial Accounting Users of Financial Accounting: Shareholders to invest in the company, Creditors and Suppliers to determine loan terms and supply-chain relationships, Managers and Directors for incentive compensation, Financial Analysts (Credit Rating Agencies, Portfolio managers)…
1. Financial Accounting is the process that culminates in the preparation of financial reports (balance sheets, income statements, cash flow statements, and shareholders equity statements) on the enterprise for use by both internal and external parties that include investors, creditors, managers, unions, and government agencies. In contrast managerial accounting is the process of identifying, measuring, analyzing, and communicating financial information needed by management to plan, control, and…