Accounting

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use 1 page each

 

Fraudulent Financial Reporting”

·         As economic crimes increase globally, accounting fraud is consistently in the top three areas according to a global survey reflected in the chapter. Use the Internet or Strayer Library to research a company sanctioned for financial accounting fraud in the past five (5) years. Give your opinion on the situational pressures that caused perpetrators to commit the fraudulent reporting. Assess the opportunities for fraudulent financial reporting and discuss ways the company you researched could eliminate fraudulent reporting. Provide justification for your response.

 

 

“Financial Statement Analysis and Disclosures” 

·         Discuss the importance of financial statement analysis and determine why it is important to investors and creditors. Imagine you are considering investing in a corporation. Suggest what key information you would look for in a company’s financial statements, and explain why this information is important to you.

·         Review authoritative guidance on accounting policy disclosures at the IFRS website, located at http://www.ifrs.org. In the search engine, type in “accounting policy disclosures.” Evaluate the main elements that primary disclosure accounting policies encompass and provide at least two (2) examples of the most commonly required disclosures. Give your opinion on the way in which the disclosures you identified are important to financial statement users. Provide a rationale for your opinion.

 

 

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Federal taxation

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Use 150 words each Federal Taxation

“Tax Strategies for Business-Owned Properties”

·         Don, the owner of Watt Inc., has a building that he bought for $2,500,000. It has depreciated by $350,000. Now Don wants to sell it for $4,000,000. He has heard about ordinary losses. He has heard about capital losses. Unfortunately, Don does not know the difference between these two types of losses. To add to the confusion, he doesn’t know what the difference is between a realized and a recognized loss. How would you explain these concepts to Don? What type of advice would you offer to him and did any changes brought about by the Tax Cuts and Jobs Act impact your advice?

 

“Sponsoring Employee Compensation Plans”

·         Imagine that you are an employer trying to decide whether to sponsor a “qualified” retirement plan or “nonqualified” deferred compensation plan for your employees. What are the tax and nontax consequences of each plan? Based on what you know about the different plans, what would be your justification for selecting the one you choose?

 

 

 

 

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Accounting

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“IFRS and Preparing a Statement of Cash Flows”

·         Evaluate two (2) major differences between GAAP and IFRS with respect to the statement of cash flows. Give your opinion on which method you prefer. Provide a rationale for your response.

·         Imagine you are the senior accountant at your organization and management is unsure of the difference between the indirect method and the direct method of preparing a statement of cash flows. Outline a brief memo to management differentiating between the direct method and indirect method. Advise management on which method the company should use to prepare the statement of cash flows. Provide at least two (2) specific examples on why the method you selected would be beneficial to the company.   

 

 

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Federal taxation

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Need to 3 pages.  No cover page

 

The Tax Cuts and Jobs Act was signed on December 22, 2017 and produced some of the most significant impacts in tax law in over 30 years.In this assignment, you will use the Internet or the Strayer University Online Library (https://research.strayer.edu) to research the tax reform changes brought about by the Tax Cuts and Job Act, analyze the impact these changes have on individual tax payers, and identify related tax planning strategies.

Write a three  (3) page paper in which you:

1.     Summarize the purpose of the Tax Cuts and Jobs Act and explain the main objective(s) for its implementation.

2.     Examine three significant changes brought forth by the Tax Cuts and Jobs Act and discuss at least two advantages and/or disadvantages of each.

3.     Analyze the impact that each of the three significant changes has on the taxpayer as an individual and a family.

4.     Recommend tax planning strategies to maximize tax savings based on the three significant changes identified. Provide a rationale.

5.     Use at least three quality academic resources in this assignment. Note: Wikipedia and similar websites do not qualify as academic resources. Internet websites that include a .gov or .org extension qualify as quality academic resources. It is suggested that you use Strayer University Online library, located at https://research.strayer.edu/.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow school-specific format.

The specific course learning outcome associated with this assignment is:

  • Analyze the impact of the Tax Cuts and Jobs Act on personal tax revenues, liabilities, deductions, and exemptions.

 

 

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Accounting

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The report should be for 5 pages and I have 1 free page left. I would like to use my free page on this report. No cover page.

 

 

Full Disclosure in Financial Reporting – Verizon Communications

 

According to the textbook, the goal of financial reporting is to report financial information that is transparent and complete and truthfully report the financial performance of a company. Investors and other interested parties need to read and understand all aspects of financing reporting. 

Use the Internet to research Verizon Communications’ financial statements, annual report, notes to the financial statements, president’s letter, and management discussion and analysis from the most recent year in order to complete this assignment. 

Write a five (5) page paper in which you:

 

  1. Discuss the disclosure requirement on accounting policies, and identify at least two (2) examples of the most commonly required disclosure. Explain the key ways in which the examples you provided are useful to financial statement users. Analyze Verizon Communications’ disclosure on accounting policies, and give your opinion on whether or not the information is helpful for decision making. Provide a rationale for your response.
  2. Explain the importance of the management discussion and analysis section of an annual report. Select three (3) items from Verizon’s management and discussion analysis of the annual report that could be useful to potential investors. Provide three (3) specific examples of how the three (3) items you selected could influence a potential investor’s decision to invest in Verizon.  
  3. Describe segmented information, and explain the way in which companies determine segments. Identify at least three (3) advantages and three (3) disadvantages of segmented financial data. Give your opinion on whether or not the advantages outweigh the disadvantages. Outline the manner in which Verizon segments its financial data. Suggest key actions that Verizon’s management can take in order to improve the company’s segmented financial data. Provide a rationale for your response.
  4. Analyze the various types of auditor’s reports, and determine the impact that the auditor’s report has on a company’s ability to obtain financing from a bank. Identify the type of auditor’s report issued on Verizon and speculate the way you believe banks will perceive Verizon’s auditor’s report.
  5. Use the Strayer Library to locate at least two (2) quality academic resources in this assignment. Note: Wikipedia and other websites do not qualify as academic resources.

 

 

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Accounting

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Use a 150 words each

 

 

“Changes in Accounting Principles and Changes in Accounting Estimates”

·         Use the Internet or Strayer Library to research a company that had a change in accounting principles within the past five (5) years. Discuss the accounting principles that the identified company changed and explain the major reasons why the company changed accounting principles. Give your opinion on whether you believe the change in accounting principles was motivated by an attempt to provide more useful information or to make financial results look better to investors and creditors. Provide a rationale for your response.  

 

 

Federal taxations

“Business Expenditures and Deductions”

·         Avery has always wanted to own his own business. Last year, he took the leap and opened a pet store in a nearby city. He leases the store. He incurred start-up costs and large inventory costs for buying food in bulk. He had to purchase three large tables and a machine that moves the food to higher shelves for storage.  He even hired five people: a groomer, two clerks, a stock person, and a bookkeeper. Unfortunately, his bookkeeper has accounting experience but no tax experience. Now, he is lost. How does he handle the start-up costs? What kinds of assets can he depreciate? What kinds of records should he keep? What changes were implemented in the Tax Cuts and Jobs Act that impacted this area of the tax law?

 

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Federal taxation

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Helping a Business Owner with a Tax Problem”

  • Kenneth, the owner of a catering company, needs business advice. He recently travelled to Massachusetts for a week for a trip and spent five days on business and two days to visit his family. While he was gone, one of his food trucks was damaged partially by vandalism and two grills were stolen. He is distraught. He does not know how to report the business expenses from his trip or the loss sustained from the vandalism and stolen grills. What are the potential tax consequences and what kind of record keeping do you advise Kenneth to maintain? Were there any components of the Tax Cuts and Jobs Act that impacted this area of the tax law?
 

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Federal taxation

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Use no than 500 words

 

Imagine that you are preparing taxes for a local tax service provider. A married couple named Judy and Walter Townson have come to you to seeking assistance with their federal income taxes. During your meeting with the Townsons, you gather the following information:

  • They are both 55 years of age.
  • They have two daughters and one son. One daughter (age 25) is married with children. One daughter (age 20) is living at home and attending college. Their son (age 16) is a junior in high school.
  • They are currently paying for their college-student daughter to attend school full time.
  • Judy is employed as a teacher and makes $60,000 a year. She used $500 of her personal funds to purchase books and other supplies for her classroom.
  • Walter is employed as a CPA and makes $100,000 a year.
  • They provided you a 1099-INT which reported $4,500 in interest, of which $500 was savings bond interest.
  • They provided you a 1099-DIV which reported $300 in dividends.
  • They received a state tax refund last year of $385.
  • They provided you a list of expenses including:

o    Doctor’s bills, $800

o    Prescriptions, $400

o    New glasses, $2,000

o    Dental bills, $560

o    Braces, $5,000

o    Property taxes for their two cars of $800, which included $50 in decal fees

o    Real estate taxes of $4,500

o    Mortgage interest of $12,000

o    Gifts to charities, $1,000

o    GoFundMe contribution to local family in need, $100

o    Tax preparation fees for last year’s taxes, $400

Consider the most beneficial way for Judy and Walter to file their federal income tax return. Prepare a brief written summary that addresses the following:

  • Estimated taxable income for Judy and Walter (please show computations).
  • Summary of tax return, including any suggestions or tax planning considerations.
  • Explain how you determined the filing status, dependents, and use of standard/itemized deduction.

Note: The summary should be no more than 500 words

 

 

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