• Class questions:
• Define the audit expectation gap, and with respect to the audit expectation gap, what do you think the role of the auditors in relation to prevent corporate collapses
• Explain professional skepticism and its importance in auditors’ risk assessment processes.
• Word limit : 500 words. Based on Australia

Dialogue Period 2 (Group) – Please use textbook materials AND scripture to answer the question.

Background:

You are working as an accountant for a local business. The CEO says that business is going great this year in spite of the covid pandemic. The CEO states that business is so great that they no longer need to include an allowance for doubtful accounts for their accounts receivables on the company balance sheet.

1. The CEO states that with no allowance account, the company net income will increase which means more in year-end bonuses!
2. You believe that an allowance account is mandatory when a company has accounts receivables.

Required:

Please draft an accounting issues memo answering the following:

1. Use the FASB codification to determine whether GAAP requires an allowance account for accounts receivable. Please use specific Codification references to support your answer.
2. Please draft an example journal entry for an allowance entry and also show how the accounts receivable would be shown in the financial statements.
3. Briefly explain how this may be unethical.

Your Initial Response – Due Sunday of Week 3 – Your response should be written in a business memo format which will include business report formatting concepts (IE not an APA research paper).

• Class questions:
• Define the audit expectation gap, and with respect to the audit expectation gap, what do you think the role of the auditors in relation to prevent corporate collapses
• Explain professional skepticism and its importance in auditors’ risk assessment processes.
• Word limit : 500 words. Based on Australia

Instructions

Associated CO & LO:

• CO-2: Apply the accounting cycle.
  • LO-2.5: Prepare an income statement, a statement of retained earnings, and a balance sheet.

Assignment Instruction:

• Complete requirements 4 through 10 of the Jane’s Skateboards for the second milestone of the course project. You will use the file you completed in milestone one. Make sure you update the file if you have received feedback from your instructor about any errors you might have in your milestone one submission.
• You will use the Course Project Template Jane’s Skateboards.

This activity provides you the opportunity to examine your mastery of several learning objectives contained in the first five chapters.

Submit your Initial Post:

1. Click on the Reply button at the bottom of this module.
2. Post your Initial Posting in the Message box. The initial posting must be substantial and between 200-400 words in length.
3. Click Submit when done.

NOTE: Submit the Initial Posting by the date noted in the Course Summary at the bottom of the Syllabus (Deadline is 11:59 pm). You will read and respond to other student postings by the date noted on the Course Summary. You will not be able to see your classmates’ posts until you have posted your post.

Easy ro study

Goal:

• Analyze your assigned publicly traded companys financial performance by comparing FY2023 vs FY2024 using the companys 10-K (Annual Report).
• Data to Use (Required): the two most recent 10-K filings ( )

What to Submit (2 files):

1. Excel (Calculations)
   1. Horizontal Analysis for income statement and balance sheet, include:
      • FY2023 value
      • FY2024 value
      • $ Change
      • % Change
   2. Vertical Analysis for income statement and balance sheet, include:
      • Income Statement base
      • Balance Sheet base
   3. Ratio Calculations (Both years)
      • Calculate required ratios for FY2024 and FY2023 (show formulas or clearly labeled inputs). If a ratio cannot be computed, explain why in your report.
   4. Word Report (Interpretation)
      1. Executive Summary (short)
         • Summarizing the companys background, FY2023FY2024 performance and key drivers.
      2. Income Statement (Select 5 accounts)
         • Choose five important income statement line items and explain:
           1. what changed
           2. why it changed
           3. what it implies.

1. Balance Sheet (Select 5 accounts)
   • Choose five important balance sheet line items and explain:
     1. what changed
     2. why it changed
     3. what it implies (liquidity/leverage/financial health).

1. Ratio Analysis (Written explanations required)
   • For each ratio, explain whether it improved/worsened and what it means. (Do not submit ratios with numbers onlyinterpretation is required.)
2. References
   • List your sources (10-K/annual report). Page numbers are encouraged.

Grading Rubric (100 points)

1. Excel: Horizontal & Vertical Analysis 30 points

• Complete IS + BS for both analyses, correct calculations, clear labels, readable layout.

1. Excel: Ratio Calculations 30 points

• All required ratios computed for both years; correct formulas; no missing ratios.

1. Word: Project Write-Up 35 points

• Executive summary + 5 IS accounts + 5 BS accounts with explanations + ratio interpretations + clear organization.

1. Professionalism 5 points

• Clean formatting, correct grammar, consistent tables/labels, proper citations.

All the instructions youll need is in the file above, Please follow it carefully.

Submit your work in the same word template attached.

Avoid plagiarism and give proper reference.

Course Materials

• Essential References:

• Brewer, P. C., Garrison, R. H., Noreen, E. W.., & Montague, N. R. (2024).
  Introduction to Managerial Accounting (8th ed.). McGraw-Hill Education.

• Supportive References:

• Horngren, C. T., Datar, S. M., & Rajan, M. V. (2021). Cost Accounting: A Managerial Emphasis (16th ed.). Harlow, UK: Pearson Education.

• Electronic Materials:

• Saudi Digital Library (SL).
• Institute of Management Accountants (IMA).

All the instructions youll need is in the file above, Please follow it carefully.

Submit your work in the same word template attached.

Avoid plagiarism and give proper reference.

References :

Shihatah, H. H., & Abu Ghuddah, ‘A. as-S. (Year of publication). A Guide to Accounting Zakah. AL-FALAH FOUNDATION: Translation, Publication & Distribution.

• Essential References:

• Rupert, T. J., Pope, T. R., & Anderson, K. E. (Eds.). (2014). Prentice Hall’s federal taxation 2014 comprehensive. Upper Saddle River, NJ: Pearson Education

• Supportive References:
• Zakat, Tax and Customs Authority (ZATCA). The Implementing Regulation for Zakat Collection

  Zakat, Tax and Customs Authority (ZATCA). Implementing Regulations of Income Tax law

• Electronic Materials:

• Saudi Digital Library (SDL).

• The Accounting and Auditing Organisation for Islamic Financial Institutions
  (AAO|FI)

• This Assignment is worth 100 points (AND YOU MUST EARN A MINIMUM 70 POINTS OR YOU WILL FAIL THE ENTIRE COURSE). However, do to the extra credit opportunities available for the 6 checkpoints, the assigned points will show 0 until the due date, due to checkpoint extra credit opportunities. Please remember this assignment is included in the Hawk Book Bundle. If you Opt-Out of the Hawk Book Bundle you must purchase this assignment separately from cybertext.com for $17.99.

• The Accounting Cycle Practice Set via Cybertext must be completed and turned in by each student. If a tstudent does not complete the Accounting Cycle Practice Set via Cybertext with a 70% or better he/she will receive an F for the course (This assignment covers the main course objectives, which is why I require a minimum passing grade of a 70%, C in order to pass the class). This assignment is NOT a testing tool but a LEARNING tool.

• The Accounting Cycle Practice Set via Cybertextis worth 100 points and must be submitted online through the Cybertext website no later than APRIL 5TH at 5:00 p.m. Unlimited attempts are given to upload the assignment for grading to the Cybertext site until the due date of APRIL 5TH at 5:00 p.m.

• The final submission of your assignment is NOT due until APRIL 5TH at 5:00 p.m.. However, I provide several check points along the way to keep you on track with the assignment and completing the assignment 4 weeks ahead of your due date. As an incentive to complete the work suggested in the check points by the check point due date I will award extra credit. I will award 3 points extra credit for each suggested check point you’re able to complete by the suggested check point due date to your final Cybertext Accounting Cycle Practice Set grade.
  

  INSTRUCTIONS FOR CYBERTEXT – EXTRA CREDIT CHECK POINT – #1

  Please remember Cybertext is SEPARATE FROM CENGAGE and your Cybertext purchase token is part of the Hawk Book Bundle program. You will automatically be charged for the materials at a cost of $22 per credit hour, for a total of $66.00 for this course unless you Opted-Out of the program. If you Opted-Out you will have to purchase the materials on your own from the Barnes and Nobles Bookstore at HCC. WHAT IS THE CYBERTEXT – ACCOUNTING CYCLE PRACTICE SET

  • The Accounting Cycle Practice Set via Cybertext is an interactive learning tool for financial accounting. The tool is self-contained in an Excel spreadsheet, which is generated from the Cybertext web site. The practice set is self-grading students upload a special Excel file to the Cybertext website, where it is automatically graded.
  • This interactive learning tool simulates one month of business transactions using a real business. In addition, this learning tool covers the full accounting cycle which is the foundation of ACG 2021 – Financial Accounting. Furthermore, the entire learning tool is housed inside a Microsoft Excel file, which is the most widely used spreadsheet program.
  • The Accounting Cycle Practice Set via Cybertext must be completed and turned in by each student. If a student does not complete the Accounting Cycle Practice Set via Cybertext with a 70% or better he/she will receive an F for the course (This assignment covers the main course objectives, which is why I require a minimum passing grade of a 70%, C in order to pass the class). This assignment is NOT a testing tool but a LEARNING tool.
  • The Accounting Cycle Practice Set via Cybertext is worth 100 points and must be submitted online through the Cybertext website no later than APRIL 5th at 5:00 p.m. Unlimited attempts are given to upload the assignment for grading to the Cybertext site until the due date of APRIL 5th at 5:00 p.m.
  • The final submission of your assignment is NOT due until APRIL 5th at 5:00 p.m. However, I provide several check points along the way to keep you on track with the assignment, ahead of schedule on the assignment, and completing the assignment 4 weeks ahead of your due date. As an incentive to complete the work suggested in the check points by the check point due date I will award extra credit. I will award 3 points extra credit for each suggested check point you’re able to complete by the suggested check point due date to your final Cybertext Accounting Cycle Practice Set grade.
  • Every time you upload your excel file for grading to the Cybertext site, the system will identify which parts of your work are incorrect. Thus, you may correct those items the system has identified as incorrect and re-upload your work for grading. You may do this as many times as necessary to earn your minimum grade of a 70%. Again, This assignment is NOT a testing tool but a LEARNING tool.
  • VERY IMPORTANT When creating an account, Cybertext will ask for an identification number using your student id – PLEASE use your HCC student id number so that I may identify you correctly.
  • 

  CHECK POINT WORK

  • This week it’s suggested that you purchase and download the Cybertext Accounting Cycle Practice Set.
  • To earn 3 points extra credit added to your final Cybertext Grade you must purchase and download the excel file by Sunday at 5:00 p.m.

  The following documents and videos provide step-by-step instructions for all aspects of this week’s suggested check point.

  1. to watch the “Cybertext – Accounting Cycle Overview” video, which provides a brief overview of the assignment and how to Purchase, Download, and Save the assignment.
  2. to view the ABC’s of the Cybertext Accounting Cycle Practice Set – 1. Account Set Up, 2. Downloading of Assignment, 3. Uploading/Grading of assignment, and 4. Understanding Assignment Grade Sheet.
  3. or the NEXT button to access the Cybertext Accounting Cycle site to purchase the assignment.
  4. to review the CYBERTEXT FAQ page for VERY HELPFUL HINTS and TIPS