Reflect on where your academic journey has taken you, and where you want to go in your professional career in accounting. How will you use the knowledge and skills you gained while participating in this graduate accounting capstone course?
Assess your preparedness for a business leadership and management position based on what you have learned in your graduate degree program.
Managerial accounting involves a lot of terms that are not used in financial accounting. Understanding and being familiar with these different terms and their uses will allow you to be a better decision maker. When you hear these terms used in the workplace, you will be better able to contribute to the discussions surrounding costs.
Respond to the following in a minimum of 175 words:
In the context of your day-to-day business experience, make a list of the costs (at least 8 costs) you are responsible for or that affect your management decisions on a regular basis.
Classify those costs as fixed or variable, manufacturing or nonmanufacturing, product or period.
Provide an example of a managerial decision that was affected by some of the costs you listed. What was the effect?
Explain the difference between risky and risk-free assets. Describe how leverage can enhance the mean variance optimization of risky and risk-free assets.
In this assignment, you will reverse engineer a tax memo from a court case. I have enclosed a sample tax memo format for you to follow.
Sample Memo Format
The code section should relate to partnership distributions, transfers of interests, sales, or terminations.
Locate the Internal Revenue Code Section that governs the topic of your choice.
Search a tax research database (CCH, BNA, etc.) for a court case involving your topic and code section of choice.
Read the court case and familiarize yourself with the parties involved, facts surrounding case, etc.
Synthesize your court case into a tax memo.
The attached excel worksheet is the project. You will complete the worksheet by making the necessary adjustments. Afterwards, you will prepare the adjusted trial balance, income statement, and balance sheet. The worksheet is the only one that you will use and return. Do not convert it into PDF. Points will be taken off for not following instructions.
Once completed the computations in the worksheet, you will formalize the project by preparing the corresponding journals for the adjusting entries and closing entries.
Below you will find some complimentary information for the adjusting entries to be made within the class project case assigned.
In order to determine the amount of supplies used, it is necessary to make a count of the amount on hand on December 31. The amount has been stated. Find the amount of supplies that have been used.
From the original insurance, there was some insurance that expired.
Salaries accrued but not paid during the year.
Received interests that had been earned from a client, but not recorded.
Received cash from a client for services to be rendered on January 11, 2022.
This week, we heard from a real manager about how the pandemic has pushed him to change how he performs his job. What suggestions can you share to help a manager improve how they perform their job in the new norm?
between 250-350 words