Evaluate efficiency and effectiveness

Quiz

Question 1 (4 points)

Saved

Which of the following is not a purpose of government financial reporting:

Question 1 options:

a)

Evaluate efficiency and effectiveness

b)

Compare actual results with the budget

c)

Determine compliance with laws and regulations

d)

Determine the overall profitability of the government entity

Question 2 (4 points)

Saved

A current rate of exchange between two currencies is known as the:

Question 2 options:

a)

Forward Rate

b)

Floating Rate

c)

Average Rate

d)

Spot Rate

Question 3 (4 points)

Saved

Accounting standards relevant to private not-for-profit entities include all of the following except:

Question 3 options:

a)

FASB 101

b)

FASB 116

c)

FASB 93

d)

FASB 117

Question 4 (4 points)

Saved

A(n) _ to either or _ some quantity of a particular foreign currency represents a foreign currency option.

Question 4 options:

a)

Right, sell, buy

b)

Right, hold, retain

c)

Obligation, buy, sell

d)

Obligation, hold, retain

Question 5 (4 points)

Saved

A __ is a type of governmental fund that accounts for resources for which the governmental units acts of trustee or agent.

Question 5 options:

a)

Permanent fund

b)

Special revenue fund

c)

Proprietary fund

d)

Fiduciary fund

Question 6 (4 points)

Saved

_ are the standards issued by the International Accounting Standards Board.

Question 6 options:

a)

International Financial Reporting Standards

b)

Global Accounting Standards

c)

General Accepted Accounting Principles

d)

IASBs

Question 7 (4 points)

Saved

Agency funds are used for all of the following except:

Question 7 options:

a)

Pass-through grants

b)

Grants, entitlements, shared revenue

c)

Tax collections for itself

d)

Payroll deductions

Question 8 (4 points)

Saved

Convergence initiatives of the FASB include all of the following except:

Question 8 options:

a)

Joint projects with the IASB

b)

IASB member in residence at the FASB

c)

Rewriting all of GAAP to align with IFRS

d)

FASB monitoring IASB projects

Question 9 (4 points)

Chapter __ is the solution available through the bankruptcy code when a troubled corporation is liquidated.

Question 9 options:

a)

13

b)

11

c)

7

d)

22

Question 10 (4 points)

Saved

All of the following are traits of disclosed information about a segment with the exception of:

Question 10 options:

a)

Disclosure of the segment assets

b)

The measure of profit or loss follows a management approach focusing on internal decision making rather than any strict definition of profit used by the enterprise

c)

Information presented for reportable segments must be reconciled to the respective consolidated amounts for the enterprise as a whole

d)

Information must be presented in the dominant foreign currency if the majority of the segment’s assets are located outside the U.S.

Question 11 (4 points)

All of the following are types of journal entries encountered in government accounting with the exception of:

Question 11 options:

a)

Budgetary entries

b)

Accrual entries

c)

Closing entries

d)

Operating entries

Question 12 (4 points)

Saved

A future rate of exchange between two currencies is known as the:

Question 12 options:

a)

Spot Rate

b)

Forward Rate

c)

Average Rate

d)

Floating Rate

Question 13 (4 points)

A governmental fund balance that represents potential uses of resources planned for a future period is referred to as:

Question 13 options:

a)

Unreserved Designated

b)

Encumbered

c)

Reserved

d)

Unreserved Undesignated

Question 14 (4 points)

This is the applicable reorganization solution available through the bankruptcy code when a corporation remains in business through a restructuring of its debt and/or equity.

Question 14 options:

a)

Chapter 11

b)

Chapter 13

c)

Chapter 22

d)

Chapter 7

Question 15 (4 points)

Saved

Which of the following is not a factor influencing the development of accounting.

Question 15 options:

a)

Geographic location

b)

Standard Setting Process

c)

Social and cultural values

d)

Political and legal systems

Question 16 (4 points)

Orange Co., a domestic entity, sold goods to a British company on 5/10 with the transaction denominated in Pounds. The sales price of the goods was £200,000, and the cost of the goods was $100,000. The receivable is payable in full on 6/10, and Orange Co. prepares their financials monthly. Relevant exchanges rates are 5/10 £1 = $1.25, 5/31 £1 = $1.30, and 6/10 £1 = $1.35. Based on this information, what was the amount booked to cost of goods sold by Company D on 5/10?

Question 16 options:

a)

$100,000

b)

£ 100,000

c)

$80,000

d)

$125,000

Question 17 (4 points)

Company D, a domestic entity, sold goods to a British company on 5/10 with the transaction denominated in Pounds. The sales price of the goods was £300,000, and the cost of the goods was $100,000. The receivable is payable in full on 6/10, and Company D prepares their financials monthly. Relevant exchanges rates are 5/10 £1 = $1.10, 5/31 £1 = $1.15, and 6/10 £1 = $1.20. Based on this information, how much would accounts receivable need to be revalued by on 5/31?

Question 17 options:

a)

$10,000 decrease

b)

$15,000 decrease

c)

$15,000 increase

d)

$0

Question 18 (4 points)

Company F is a foreign subsidiary of a domestic company and Company F’s functional currency is the Euro. On Company F’s financials at the end of the year 2018, they reported €50,000 in inventory. If the spot rate on 1/1/18 was €1 = $1.06, the spot rate on 12/31/18 was €1 $1.15, and the weighted average rate for the full year 2018 was €1 = $1.10, how much is the translated balance of inventory in U.S. $ at year-end?

Question 18 options:

a)

$53,000

b)

$50,000

c)

$55,000

d)

$57,500

Question 19 (4 points)

Company F is a foreign subsidiary of a domestic company and Company F’s functional currency is the Euro. On Company F’s financials at the end of the year 2018, they reported €200,000 in cost of goods sold. If the spot rate on 1/1/18 was €1 = $1.12, the spot rate on 12/31/18 was €1 $1.02, and the weighted average rate for the full year 2018 was €1 = $1.18, how much is the translated balance of cost of goods sold in U.S. $ at year-end?

Question 19 options:

a)

$236,000

b)

$224,000

c)

$204,000

d)

$200,000

Question 20 (4 points)

Company F is a foreign subsidiary of a domestic company and Company F’s functional currency is the Euro. The total U.S. $ Translated balances of total assets per the trial balance at year-end but prior to closing entries is $850,000, liabilities is $200,000, equity is $450,000, and net income adds up to $150,000. The amount to be entered into Accumulated Translation Adjustment will be:

Question 20 options:

a)

$100,000 debit

b)

$50,000 credit

c)

$50,000 debit

d)

$100,000 credit

Question 21 (4 points)

Lydia, James, and Lola form a partnership where each partner will have an equal share to start. Lydia contributes $60,000 in cash, James contributes $60,000 in equipment, and Lola contributes $20,000 in cash and bring to the table expertise that the partners agree is worth $40,000, and choose to account for the value of this expertise using the goodwill method. Immediately after formation, Lola’s capital account would reflect a balance of:

Question 21 options:

a)

$20,000 credit

b)

$60,000 credit

c)

$20,000 debit

d)

$45,000 credit

Question 22 (4 points)

Saved

Lydia, James, and Lola’s partnership calls for the following allocation of income: James and Lola are to receive lump sum salary payments of $50,000 each, Lydia and Lola are to receive interest of 5% of their ending capital balances, if there’s a profit James is to receive a bonus equal to 10% of the profit, and any remaining income is to be split between Lydia, James, and Lola 40%, 20%, and 40% respectively. Lydia, James, and Lola’s ending capital balances were $100,000, $50,000, and $150,000 respectively. If there was a partnership net profit of $500,000, how much was allocated to Lola in total?

Question 22 options:

a)

$192,500

b)

$57,500

c)

$167,500

d)

$150,000

Question 23 (4 points)

Saved

Lydia, James, and Lola’s partnership calls for the following allocation of income: James and Lola are to receive lump sum salary payments of $20,000 each, Lydia and Lola are to receive interest of 5% of their ending capital balances, if there’s a profit James is to receive a bonus equal to 10% of the profit, and any remaining income is to be split between Lydia, James, and Lola 40%, 20%, and 40% respectively. Lydia, James, and Lola’s ending capital balances were $100,000, $50,000, and $150,000 respectively. If there was a partnership net loss of <$100,000>, how much was allocated to or James in total?

Question 23 options:

a)

<$56,000>

b)

$20,000

c)

<$33,500>

d)

<$10,500>

Question 24 (4 points)

Saved

Lydia, James, and Lola are in a partnership together and each have capital balances of $250,000. A new partner, Shawn, pays James $200,000 directly for 100% of his interest in the new partnership, replacing him in the partnership. The journal entry on the books of the partnership to account for this transaction would be:

Question 24 options:

a)

Debit Capital-James $200,000, Debit Cash $50,000; Credit Capital-Shawn $250,000

b)

Debit Capital-James $250,000; Credit Capital-Shawn $250,000

c)

Debit Cash $250,000; Credit Capital-Shawn $250,000

d)

No entry is made on the partnership’s books as the transaction was made directly between James and Shawn

Question 25 (4 points)

Saved

Lydia, James, Lola, and Shawn are in a partnership together and have a combined capital balance of $700,000. A new partner, Carol pays the partnership $300,000 directly for a 1/5 interest in the new partnership. The partnership chooses the goodwill method to existing partners to account for this transaction and will allocate any increase in implied value evenly amongst the existing partners. The journal entry on the books of the partnership to account for this transaction would be:

Question 25 options:

a)

Debit Goodwill $400,000, Debit Cash $800,000; Credit each of the existing partner’s capital accounts $200,000 each, Credit Capital-Carol $400,000

b)

Debit Goodwill $300,000, Debit Cash $800,000; Credit each of the existing partner’s capital accounts $200,000 each, Credit Capital-Carol $300,000

c)

A Debit Cash $300,000, Debit Goodwill $400,000; Credit each of the existing partner’s capital accounts $100,000 each, Credit Capital-Carol $300,000

d)

Debit Cash $300,000, Debit Goodwill $500,000; Credit each of the existing partner’s capital accounts $125,000 each, Credit Capital-Carol $300,000

Submit Quiz15 of 25 questions saved

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Why has ethical behavior in the area of accounting and finance become so important?

Noreen, E., Brewer, P., & Garrison, R. (2016).Managerial accounting for managers. (4th ed.).McGraw-Hill ISBN: 9781308886718

W1#1

As you dive into Week 1 and begin to explore new elements of accounting and the accounting profession, you will find that the world of accounting offers many different types of jobs. Managerial and Financial accounting are just two examples of the many facets of the accounting world. As the world of accounting has changed greatly in the last ten years, there is a new focus on the importance of ethics in all areas of the accounting profession. Keep these key elements in mind as you explore the Week 1 materials, then address these questions:

1 – What are the key differences between managerial and financial accounting?

2 – How is managerial accounting relevant to you in your future career?

3 – Why has ethical behavior in the area of accounting and finance become so important?

W1#2

This week, you were asked to access a number of videos and websites. These are great resources to help you learn the materials this week. Consider what type of resource you find most helpful in learning new materials (videos, examples, text, etc). Then consider which topic you struggled with the most this week. Complete an online search for a new resource that will help you with that topic. For example, if you learn beset from videos and you struggled with the topic double entry accounting, then complete an online search for “double entry accounting videos”. If you learn best by examples, search for “double entry accounting examples”. Select one of the items you find in your search that you found particularly helpful in learning the topic you struggled with the most and post a summary of the resource and a link to the resource.

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· Analyze information security systems compliance requirements within the User Domain.

Week 6 Assignment 3 – Submit Here

Students, please view the “Submit a Clickable Rubric Assignment” in the Student Center.

Instructors, training on how to grade is within the Instructor Center.

Assignment 3: Evaluating Access Control Methods

Due Week 6 and worth 50 points

Imagine that you are the Information Systems Security Specialist for a medium-sized federal government contractor. The Chief Security Officer (CSO) is worried that the organization’s current methods of access control are no longer sufficient. In order to evaluate the different methods of access control, the CSO requested that you research: mandatory access control (MAC), discretionary access control (DAC), and role-based access control (RBAC). Then, prepare a report addressing positive and negative aspects of each access control method. This information will be presented to the Board of Directors at their next meeting. Further, the CSO would like your help in determining the best access control method for the organization.

Write a three to five page paper in which you:

1. Explain in your own words the elements of the following methods of access control:

a. Mandatory access control (MAC)

b. Discretionary access control (DAC)

c. Role-based access control (RBAC)

1. Compare and contrast the positive and negative aspects of employing a MAC, DAC, and RBAC.
2. Suggest methods to mitigate the negative aspects for MAC, DAC, and RBAC.
3. Evaluate the use of MAC, DAC, and RBAC methods in the organization and recommend the best method for the organization. Provide a rationale for your response.
4. Speculate on the foreseen challenge(s) when the organization applies the method you chose. Suggest a strategy to address such challenge(s).
5. Use at least three quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

Your assignment must follow these formatting requirements:

· This course requires use of Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.

· 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:

· Analyze information security systems compliance requirements within the User Domain.

· Use technology and information resources to research issues in security strategy and policy formation.

· Write clearly and concisely about topics related to information technology audit and control using proper writing mechanics and technical style conventions.

Click here to view the grading rubric.

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Demonstrates no knowledge of the role of higher education administrators in addressing the selected issue

HEA 520 Module Ten Journal Guidelines and Rubric Journal activities in this course are private between you and the instructor. In this journal, reflect on the issues in higher education and the role of higher education administrators in addressing these issues. You may reflect on any one of the following:

• The cost of attendance and what to do about it • Remediation in general and what to do about it • Adult learners and their specific needs when it comes to higher education • Changing technologies and quality

Specifically, the following critical elements must be addressed:

I. Issue in Higher Education: Select an issue in higher education from the list above and be sure your journal post demonstrates the following: a) Knowledge of the selected issue b) Knowledge of the role of higher education administrators in addressing the selected issue c) A personal reflection connecting the selected issue with your current or future role in higher education

Guidelines for Submission: Submit assignment as a Word document with double spacing, 12-point Times New Roman font, and one-inch margins.

Critical Elements Exemplary (100%) Proficient (90%) Needs Improvement (70%) Not Evident (0%) Value Comprehension: Issue in Higher

Education

Meets “Proficient” criteria and demonstrates thorough understanding of the selected issue

Demonstrates knowledge of the selected issue in higher education

Demonstrates limited knowledge of the selected issue

Demonstrates no knowledge of the selected issue

25

Comprehension: Role of

Administrators

Meets “Proficient” criteria and demonstrates thorough understanding of the role of higher education administrators in addressing the selected issue

Demonstrates knowledge of the role of higher education administrators in addressing the selected issue

Demonstrates limited knowledge of the role of higher education administrators in addressing the selected issue

Demonstrates no knowledge of the role of higher education administrators in addressing the selected issue

25

Reflection Meets “Proficient” criteria and uses concrete examples to make connections

Includes a personal reflection that makes connections to current or future practice

Includes a reflection but lacks details or connections to current or future practice

Does not include reflection 40

Articulation of Response

Assignment is free of errors in organization and grammar

Assignment is mostly free of errors of organization and grammar; errors are marginal and rarely interrupt the flow

Assignment contains errors of organization and grammar, but errors are limited enough so that assignment can be understood

Assignment contains errors of organization and grammar making the assignment difficult to understand

10

Total 100%

HEA 520 Module Ten Journal Guidelines and Rubric

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