Advance Accounting II/Memos

1. Advanced Accounting II

Critical Thinking Module 3

(1 page) (APA citations) (In-text citations are a must) (No Plagiarism) (No Artificial Intelligence)

Part 2: Writing Assignment

Reminder of Module Learning Objective:

• Determine the appropriate accounting and financial reporting rules for the consolidation of a less than and wholly-owned subsidiaries.

In addition to the assignment in Connect, write a memo as directed below, using what you learned from the Connect assignment and from this module. You should refer to the FASB Accounting Standards Codification(FASB ASC), specifically, when writing your memo.

Williams Corporation and Jones Company established a joint venture to manufacture components for both companies on January 1, 20X1, and have operated it quite successfully for the past four years. Williams and Jones both contributed 50% of the equity when the joint venture was created. Willams purchases approximately 70% of the output of the joint venture and Jones purchases 30%. Willams and Jones have equal numbers of members on the board of directors of the joint venture and participate equally in the management of the joint venture. Joint venture profits are distributed at year-end on the basis of total purchases by each company.

Willams has been using the equity method to report its investment in the joint venture. However, Willams’s financial vice president believes that each company should use pro-rata consolidation.

As the Controller, you have been asked to prepare a memo discussing those situations in which pro-rata consolidation may be appropriate and to offer your recommendation as to whether Williams should continue to use the equity method or switch to pro-rata consolidation.

Include in your memo citations and quotations from the ASC to support your arguments.

Writing Assignment Requirements:

• Write a 1-2 page memo double-spaced, not counting the title and the reference page(s) and any Exhibit(s) or Appendices. Submissions in excess of 2 pages but no more than 4 pages are acceptable.
• Copy and paste each question in bold type into your paper with your answers to each question directly underneath each question.
• Use terms, evidence, and concepts from the module interactive lecture and readings, including professional business language.
• Cite at least 3 credible academic or professional sources for this assignment. The CSU Global Library is a great place to find resources plus the FASB Codification. Use the link provided in the left navigation panel to access the library.
• Format your memo according to CSU Global Writing Center. Use the link provided in the left navigation panel to access the writing center.
• If you need help formatting, writing, or doing research the CSU Global Writing Center can help!

Review the grading rubric for more information on expectations and how your assignment will be graded by your instructor.

Rubric

Module 3: Critical Thinking

Module 3: Critical Thinking
Criteria	Ratings	Pts
This criterion is linked to a Learning OutcomeConnect Assignment	75 to >60.0 ptsMeets ExpectationScores 81% – 100% on Connect Assignment 60 to >45.0 ptsApproaches ExpectationScores 61% – 80% on Connect Assignment 45 to >30.0 ptsBelow ExpectationScores 41% – 60% on Connect Assignment 30 to >0 ptsLimited EvidenceScores 0% – 40% on Connect Assignment	75 pts
This criterion is linked to a Learning OutcomeCritical Analysis-Writing Assignment	15 to >12.0 ptsMeets ExpectationProvides a strong critical analysis and interpretation of the information given. 12 to >9.0 ptsApproaches ExpectationSome significant but not major errors or omissions in analysis and interpretation. 9 to >6.0 ptsBelow ExpectationMajor errors or omissions in analysis and interpretation. 6 to >0 ptsLimited EvidenceFails to provide critical analysis and interpretation of the information given.	15 pts
This criterion is linked to a Learning OutcomeSources-Writing Assignment	5 to >4.0 ptsMeets ExpectationCites and integrates at least 3 credible sources as specified in description. 4 to >3.0 ptsApproaches ExpectationCites and integrates 2 credible sources as specified in description. 3 to >2.0 ptsBelow ExpectationCites and integrates 1 credible source as specified in description. 2 to >0 ptsLimited EvidenceCites and integrates no credible sources.	5 pts
This criterion is linked to a Learning OutcomeDemonstrates college-level proficiency in organization, grammar, and style // Demonstrates proper use of APA style	5 to >4.0 ptsMeets ExpectationProject is clearly organized, well written, and in proper format as outlined in the assignment. Strong sentence and paragraph structure; few errors in grammar and spelling. // Project contains proper APA formatting, according to the CSU Global resources on APA citation style, with no more than one significant error. 4 to >3.0 ptsApproaches ExpectationProject is fairly well organized and written and is in proper format as outlined in the assignment. Reasonably good sentence and paragraph structure; significant number of errors in grammar and spelling. //Few errors in APA formatting, according to the CSU Global resources on APA citation style, with no more than two to three significant errors. 3 to >2.0 ptsBelow ExpectationProject is poorly organized and does not follow proper format. Inconsistent to inadequate sentence and paragraph development; numerous errors in grammar and spelling. // Significant errors in APA formatting, according to the CSU Global resources on APA citation style, with four to five significant errors. 2 to >0 ptsLimited EvidenceProject is not organized or well written and is not in proper format. Poor quality work; unacceptable in terms of grammar and spelling. // Numerous errors in APA formatting, according to the CSU Global resources on APA citation style, with more than five significant errors.	5 pts

Total Points: 100

2. Advanced Accounting II

Critical Thinking Module 4

(1 page) (APA citations) (In-text citations are a must) (No Plagiarism) (No Artificial Intelligence)

Part 2: Writing Assignment

Reminder of Module Learning Objective:

• Evaluate additional consolidation-related accounting and financial reporting issues, including intercompany balances and related items.

In addition to the assignment in Connect, complete this written assignment using what you learned from the Connect assignment and from this module. Answer the following questions and submit your answers in a Word document. You should refer to the FASB Accounting Standards Codification (FASB ASC), specifically, when answering some of these questions.

The consolidated cash flows from operations from Jones Corporation and its subsidiary Long Manufacturing for 20X2 decreased quite substantially from 20X1 despite the fact that consolidated net income increased slightly in 20X2 compared to 20X1. The consolidated cash flows from the operations statement are prepared using the indirect method.

1. What factors included in the computation of consolidated net income may explain the difference between cash flows from operations and net income? Make sure you take into consideration each of the key factors included in determining cash flow from operations under the indirect method of preparing the Statement of Cash Flows.
2. How might a change in credit terms during the 20X2 year extended by Long Manufacturing to its customer explain a part of the difference? Please be specific.
3. How would an inventory write-off during the 20X2 year affect cash flow from operations? Assume an actual inventory write-off is made after recording initially a lower cost or market adjustment in a prior year’s financial statements.
4. How would a write-off of uncollectible accounts receivable in the current year’s financial statements affect cash flow from operations assuming an allowance account was used initially to record bad debt expense in prior years’ financial statements?
5. How does the preparation of a statement of cash flows differ for a consolidated entity compared with that of a single corporate entity in general?

Writing Assignment Requirements:

• Write a 2-page paper in a Word document, not counting the title and the reference page(s) and any Exhibit(s) or Appendices. Submissions in excess of 2 pages but no more than 4 pages are acceptable.
• Include in bold type each of the 4 questions with your answers directly below each question.
• Copy and paste each question in bold type into your paper with your answers to each question directly underneath each question.
• Use terms, evidence, and concepts from the module interactive lecture and readings, including professional business language.
• Cite at least 3 credible academic or professional sources for this assignment. The CSU Global Library is a great place to find resources plus the FASB Codification. Use the link provided in the left navigation panel to access the library.
• Format your paper according to CSU Global Writing Center. Use the link provided in the left navigation panel to access the writing center.
• If you need help formatting, writing, or doing research the CSU Global Writing Center can help!

Review the grading rubric for more information on expectations and how your assignment will be graded by your instructor.

Rubric

Module 4: Critical Thinking

Module 4: Critical Thinking
Criteria	Ratings	Pts
This criterion is linked to a Learning OutcomeConnect Assignment	75 to >60.0 ptsMeets ExpectationScores 81% – 100% on Connect Assignment 60 to >45.0 ptsApproaches ExpectationScores 61% – 80% on Connect Assignment 45 to >30.0 ptsBelow ExpectationScores 41% – 60% on Connect Assignment 30 to >0 ptsLimited EvidenceScores 0% – 40% on Connect Assignment	75 pts
This criterion is linked to a Learning OutcomeCritical Analysis-Writing Assignment	15 to >12.0 ptsMeets ExpectationProvides a strong critical analysis and interpretation of the information given. 12 to >9.0 ptsApproaches ExpectationSome significant but not major errors or omissions in analysis and interpretation. 9 to >6.0 ptsBelow ExpectationMajor errors or omissions in analysis and interpretation. 6 to >0 ptsLimited EvidenceFails to provide critical analysis and interpretation of the information given.	15 pts
This criterion is linked to a Learning OutcomeSources-Writing Assignment	5 to >4.0 ptsMeets ExpectationCites and integrates at least 3 credible sources as specified in description. 4 to >3.0 ptsApproaches ExpectationCites and integrates 2 credible sources as specified in description. 3 to >2.0 ptsBelow ExpectationCites and integrates 1 credible source as specified in description. 2 to >0 ptsLimited EvidenceCites and integrates no credible sources.	5 pts
This criterion is linked to a Learning OutcomeDemonstrates college-level proficiency in organization, grammar, and style // Demonstrates proper use of APA style	5 to >4.0 ptsMeets ExpectationProject is clearly organized, well written, and in proper format as outlined in the assignment. Strong sentence and paragraph structure; few errors in grammar and spelling. // Project contains proper APA formatting, according to the CSU Global resources on APA citation style, with no more than one significant error. 4 to >3.0 ptsApproaches ExpectationProject is fairly well organized and written and is in proper format as outlined in the assignment. Reasonably good sentence and paragraph structure; significant number of errors in grammar and spelling. //Few errors in APA formatting, according to the CSU Global resources on APA citation style, with no more than two to three significant errors. 3 to >2.0 ptsBelow ExpectationProject is poorly organized and does not follow proper format. Inconsistent to inadequate sentence and paragraph development; numerous errors in grammar and spelling. // Significant errors in APA formatting, according to the CSU Global resources on APA citation style, with four to five significant errors. 2 to >0 ptsLimited EvidenceProject is not organized or well written and is not in proper format. Poor quality work; unacceptable in terms of grammar and spelling. // Numerous errors in APA formatting, according to the CSU Global resources on APA citation style, with more than five significant errors.	5 pts

Total Points: 100

3. Advanced Accounting II

Critical Thinking Module 5

(1 page) (APA citations) (In-text citations are a must) (No Plagiarism) (No Artificial Intelligence)

Part 2: Writing Assignment

Reminder of Module Learning Objective:

• Evaluate additional consolidation-related accounting and financial reporting issues, including intercompany balances and related items.

In addition to the assignment in Connect, write a memo as directed below, using what you learned from the Connect assignment and from this module. You should refer to the FASB Accounting Standards Codification (FASB ASC), specifically, when writing your memo.

Butte Corporation needs to build a new production facility. Because it already had a relatively high debt ratio, the company decided to establish a joint venture with Glacier Corner Bank. This arrangement permitted the joint venture to borrow $30 million for 20 years on a fixed-interest-rate basis at a rate nearly 2 percent less than Butte would have paid if it had borrowed the money on its own. Glacier Corner Bank purchased 100% of the joint venture’s equity for $200,000, and Butte provided a guarantee of the debt of the bondholders and a guarantee to Glacier Corner Bank that it would earn a 20% annual return on its investment. That facility is now leased to Butte on a 10-year operating lease. Butte currently reports the annual lease payment as an operating expense and in the notes to its financial statements must report a contingent liability for its guarantee of the debt of the joint venture.

As a senior member of Butte’s accounting staff, you have been asked to investigate the financial reporting standards associated with accounting for variable interest entities and determine whether Hydro’s reporting is appropriate.

Prepare a memo to Butte’s President stating your findings and conclusions and analyzing the impacts on Butte’s financial statements if the current reporting procedures are inappropriate.

Writing Assignment Requirements:

• Write a 2-page memo double-spaced, not counting the title and the reference page(s) and any Exhibit(s) or Appendices. Submissions in excess of 2 pages but no more than 4 pages are acceptable.
• Address the memo to Butte’s President, John Paul Butte, from you.
• Copy and paste each question in bold type into your paper with your answers to each question directly underneath each question.
• Use terms, evidence, and concepts from the module interactive lecture and readings, including professional business language.
• Cite at least 3 credible academic or professional sources for this assignment. The CSU Global Library is a great place to find resources plus the FASB Codification. Use the link provided in the left navigation panel to access the library.
• Format your memo according to CSU Global Writing Center. Use the link provided in the left navigation panel to access the Writing Center.
• If you need help formatting, writing, or doing research in preparing this internal business memo, the CSU Global Writing Center and the CSU Library can help! Use the links provided in the left navigation panel to access the writing center and library.

Review the grading rubric for more information on expectations and how your assignment will be graded by your instructor.

Rubric

Module 5: Critical Thinking

Module 5: Critical Thinking
Criteria	Ratings	Pts
This criterion is linked to a Learning OutcomeConnect Assignment	75 to >60.0 ptsMeets ExpectationScores 81% – 100% on Connect Assignment 60 to >45.0 ptsApproaches ExpectationScores 61% – 80% on Connect Assignment 45 to >30.0 ptsBelow ExpectationScores 41% – 60% on Connect Assignment 30 to >0 ptsLimited EvidenceScores 0% – 40% on Connect Assignment	75 pts
This criterion is linked to a Learning OutcomeCritical Analysis-Writing Assignment	15 to >12.0 ptsMeets ExpectationProvides a strong critical analysis and interpretation of the information given. 12 to >9.0 ptsApproaches ExpectationSome significant but not major errors or omissions in analysis and interpretation. 9 to >6.0 ptsBelow ExpectationMajor errors or omissions in analysis and interpretation. 6 to >0 ptsLimited EvidenceFails to provide critical analysis and interpretation of the information given.	15 pts
This criterion is linked to a Learning OutcomeSources-Writing Assignment	5 to >4.0 ptsMeets ExpectationCites and integrates at least 3 credible sources as specified in description. 4 to >3.0 ptsApproaches ExpectationCites and integrates 2 credible sources as specified in description. 3 to >2.0 ptsBelow ExpectationCites and integrates 1 credible source as specified in description. 2 to >0 ptsLimited EvidenceCites and integrates no credible sources.	5 pts
This criterion is linked to a Learning OutcomeDemonstrates college-level proficiency in organization, grammar, and style // Demonstrates proper use of APA style	5 to >4.0 ptsMeets ExpectationProject is clearly organized, well written, and in proper format as outlined in the assignment. Strong sentence and paragraph structure; few errors in grammar and spelling. // Project contains proper APA formatting, according to the CSU Global resources on APA citation style, with no more than one significant error. 4 to >3.0 ptsApproaches ExpectationProject is fairly well organized and written and is in proper format as outlined in the assignment. Reasonably good sentence and paragraph structure; significant number of errors in grammar and spelling. //Few errors in APA formatting, according to the CSU Global resources on APA citation style, with no more than two to three significant errors. 3 to >2.0 ptsBelow ExpectationProject is poorly organized and does not follow proper format. Inconsistent to inadequate sentence and paragraph development; numerous errors in grammar and spelling. // Significant errors in APA formatting, according to the CSU Global resources on APA citation style, with four to five significant errors. 2 to >0 ptsLimited EvidenceProject is not organized or well written and is not in proper format. Poor quality work; unacceptable in terms of grammar and spelling. // Numerous errors in APA formatting, according to the CSU Global resources on APA citation style, with more than five significant errors.	5 pts

Total Points: 100

4. Advanced Accounting II

Critical Thinking Module 6

(1 page) (APA citations) (In-text citations are a must) (No Plagiarism) (No Artificial Intelligence)

Part 2: Writing Assignment

Reminder of Module Learning Objectives:

• Analyze the impact of changing foreign currency exchange rates on the translation of multinational consolidated financial statements.
• Analyze the impact of foreign currency exchange rates changes on the recording of foreign currency-related transactions in domestic financial statements.

With regards to your Assignment performed in Connect and, in general, the content covered in this module, answer the following questions.

You should refer to the FASB Accounting Standards Codification (FASB ASC), specifically, when answering some of the questions below:

1. Under what circumstance(s) would the amount included in the foreign currency translation account be recorded in the Income Statement instead of the Statement of Other Comprehensive Income? Be specific.
2. Under what circumstance(s) would it potentially make sense for a Company to consider hedging the amount included in the Statement of Other Comprehensive Income for Foreign Currency Translation? Be specific.
3. Explain in a few sentences how the accounting for foreign currency translation differs for certain subsidiaries of a US Parent Company that are operating in a hyperinflationary environment which are consolidated into the Parent Companys financial statements.
4. For the changes in the accumulated foreign currency translation balance from last year to this year (in other words, if the amount of the translation adjustment in the current year is a debit or a credit), what does that mean with regards to the movement of foreign exchange during the period against the US Dollar? Be specific for both a debit and a credit adjustment in the current year. Also, consider including a simple example illustrating your answers.

Writing Assignment Requirements:

• Write a 2-page paper double-spaced, not counting the title and the reference page(s) and any Exhibit(s) or Appendices. Submissions in excess of 2 pages but no more than 4 pages are acceptable.
• Copy and paste each question in bold type into your paper with your answers to each question directly underneath each question.
• Use terms, evidence, and concepts from the module interactive lecture and readings, including professional business language.
• Cite at least 3 credible academic or professional sources for this assignment. The CSU Global Library is a great place to find resources plus the FASB Codification. Use the link provided in the left navigation panel to access the library.
• Format your paper according to CSU Global Writing Center. Use the link provided in the left navigation panel to access the Writing Center.
• If you need help formatting, writing, or doing research in preparing this internal business memo, the CSU Global Writing Center can help!

Review the grading rubric for more information on expectations and how your assignment will be graded by your instructor.

Rubric

Module 6: Critical Thinking

Module 6: Critical Thinking
Criteria	Ratings	Pts
This criterion is linked to a Learning OutcomeConnect Assignment	75 to >60.0 ptsMeets ExpectationScores 81% – 100% on Connect Assignment 60 to >45.0 ptsApproaches ExpectationScores 61% – 80% on Connect Assignment 45 to >30.0 ptsBelow ExpectationScores 41% – 60% on Connect Assignment 30 to >0 ptsLimited EvidenceScores 0% – 40% on Connect Assignment	75 pts
This criterion is linked to a Learning OutcomeCritical Analysis-Writing Assignment	15 to >12.0 ptsMeets ExpectationProvides a strong critical analysis and interpretation of the information given. 12 to >9.0 ptsApproaches ExpectationSome significant but not major errors or omissions in analysis and interpretation. 9 to >6.0 ptsBelow ExpectationMajor errors or omissions in analysis and interpretation. 6 to >0 ptsLimited EvidenceFails to provide critical analysis and interpretation of the information given.	15 pts
This criterion is linked to a Learning OutcomeSources-Writing Assignment	5 to >4.0 ptsMeets ExpectationCites and integrates at least 3 credible sources as specified in description. 4 to >3.0 ptsApproaches ExpectationCites and integrates 2 credible sources as specified in description. 3 to >2.0 ptsBelow ExpectationCites and integrates 1 credible source as specified in description. 2 to >0 ptsLimited EvidenceCites and integrates no credible sources.	5 pts
This criterion is linked to a Learning OutcomeDemonstrates college-level proficiency in organization, grammar, and style // Demonstrates proper use of APA style	5 to >4.0 ptsMeets ExpectationProject is clearly organized, well written, and in proper format as outlined in the assignment. Strong sentence and paragraph structure; few errors in grammar and spelling. // Project contains proper APA formatting, according to the CSU Global resources on APA citation style, with no more than one significant error. 4 to >3.0 ptsApproaches ExpectationProject is fairly well organized and written and is in proper format as outlined in the assignment. Reasonably good sentence and paragraph structure; significant number of errors in grammar and spelling. // Few errors in APA formatting, according to the CSU Global resources on APA citation style, with no more than two to three significant errors. 3 to >2.0 ptsBelow ExpectationProject is poorly organized and does not follow proper format. Inconsistent to inadequate sentence and paragraph development; numerous errors in grammar and spelling. // Significant errors in APA formatting, according to the CSU Global resources on APA citation style, with four to five significant errors. 2 to >0 ptsLimited EvidenceProject is not organized or well written and is not in proper format. Poor quality work; unacceptable in terms of grammar and spelling. // Numerous errors in APA formatting, according to the CSU Global resources on APA citation style, with more than five significant errors.	5 pts

Total Points: 100

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