Category: Accounting

The company I need to extract data from is Stryker’s Form 10-K.

For the Peer Comparison portion under Task 1: You can use a company like Medtronic or any other one that has a 10-K form, that’s also in the medical device manufacturing field. Only the excel sheet is necessary to fill out.

Task 1: Calculate and Interpret Accounts Payable Turnover

• Calculate the company’s accounts payable turnover ratio.
• Interpret the ratio in the context of the company’s industry and peers.

Task 2: Differentiate Between Short-Term and Long-Term Notes

• Identify the company’s short-term and long-term notes payable from its balance sheet.
• Explain the key differences between short-term and long-term notes payable.

Task 3: Calculate Bond Yields

• Calculate the yield to maturity for the company’s outstanding bonds.
• Explain how bond yields are calculated and what they represent.

Task 4: Distinguish Between Operating and Finance Leases

• Identify the company’s operating and finance leases from its footnotes.
• Explain the key differences between operating and finance leases.

Task 5: Assess Pension Liability Impact on Financial Statements

• Assess the impact of the company’s pension liability on its financial statements.
• Explain how pension liabilities are calculated and reported.

The Case:

A company’s controller, Hannah, is about to meet with her CFO when a senior accountant discovers an error in the financial statements. The error, an item incorrectly placed in inventory instead of research and development, would prevent the company from meeting its expected goals if corrected. Hannah must decide whether to make the correction and risk disappointing management or let the error slide to ensure everyone receives a bonus. This decision pits her professional responsibility against personal and organizational pressures.

The Dialogue Question:

James 1:5 states, “If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you.” This scripture emphasizes the importance of seeking divine wisdom in difficult situations.

Considering Hannahs dilemma, what ethical reasoning is at play if she decides to let the error slide? What are the potential short-term benefits versus the long-term consequences of such a decision? Using the concept of biblical wisdom, explain why seeking to do what is right, even at personal cost, is the most faithful course of action. How does Hannah’s decision-making process reflect the tension between worldly pressures and the call to be a faithful steward of financial truth?

Dialogue Post Week 4

The Case:

As a CPA, Sean has violated several professional and ethical rules. He has embezzled money from a client’s trust, failed to complete contracted work, and neglected to file his own tax returns. When faced with a complaint, he makes false promises and flees the country. His actions demonstrate a pattern of dishonesty, irresponsibility, and a complete disregard for the trust placed in him by his clients and the public.

The Dialogue Question:

The prophet Micah asks, “And what does the Lord require of you? To act justly and to love mercy and to walk humbly with your God” (Micah 6:8). This scripture highlights justice as a core requirement for a righteous life.

In the case of Sean, discuss the ways his actions violate the principle of justice. How does his behavior, from misappropriating funds to failing to perform contracted services, represent a complete breakdown of his ethical obligations to his clients and society? Analyze his actions through the lens of a biblical call to justice, explaining how his selfishness and deceitfulness stand in direct opposition to the faithful and just conduct required of a professional. What advice would you give Sean from a biblical and ethical perspective?

Note: For each discussion period, you are required to create 2 Original posts. (200 words or fewer each). Each post must include a minimum of two academic references

Grupo Televisa, S.A.B. and Subsidiaries (NYSE: TV) in the Notes to Consolidated Financial Statements for the year ending December 31, 2020, states that the property, plant and equipment reported on its balance sheet includes the following:

Depreciation is computed using the straight-line method over the estimated useful lives of the assets shown in the preceding chart. Click .

Requirements

1. 1. Suppose Grupo Televisa purchases new technical equipment for $100,000 on August 1. The residual value of the equipment is $4,000 and the useful life is 10 years. How would Grupo Televisa record the depreciation expense on December 31 in the first year of use? What about the second year of use?
2. What would be the book value of the equipment at the end of the first year? What would be the book value of the equipment at the end of the second year?
3. What would be the impact on Grupo Televisas financial statements if they failed to record the adjusting entry related to the equipment?

Grant Film Productions wishes to expand and has borrowed $100,000. As a condition for making this loan, the bank requires that the business maintain a current ratio of at least 1.50.

Business has been good but not great. Expansion costs have brought the current ratio down to 1.40 on December 15. Rita Grant, owner of the business, is considering what might happen if she reports a current ratio of 1.40 to the bank. One course of action for Grant is to record in December of this year $10,000 of revenue that the business will earn in January of next year. The contract for this job has been signed.

Requirements

1. Journalize the revenue transaction and indicate how recording this revenue in December would affect the current ratio.
2. Discuss whether it is ethical to record the revenue transaction in December. Identify the accounting principle relevant to this situation and give the reasons underlying your conclusion.

Read the case scenario, consider all the questions in the docword doc, and then write a synopsis using the appropriate format.

COMPANY: Home Depot

Post the answers to the following questions to your team with respect to the company you chose during Week 1.

1. Company label of the income statement
2. Balances for the following:
   1. Sales
   2. Cost of goods sold
   3. Earnings from continuing operations before income taxes
   4. Net earnings from continuing operations
   5. Net income/loss
3. Comprehensive income items and amounts
4. Direct or indirect method for preparation of statement of cash flows
5. Operating cash flow
6. Largest investing cash flow
7. Largest financing cash flow

Work with your team to come to a consensus on your answers

How to Learn Accounting/ Basic Accounting Treatment/E-Book presentation (A to Z)