• 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

It must balance because every single asset a company owns was financed either by debt (Liabilities) or by the owners’ own money/reinvested earnings (Equity). If it doesn’t balance, you’ve likely missed a transaction or made a “fat-finger” entry error.

Prior to beginning this discussion forum, read Chapter 11 from your course textbook, International Accounting (6th ed.).

Corporate governance and audit quality are relative terms and may vary depending on cultural differences.

• Explain the role of audit quality in strengthening corporate governance, including any challenges resulting from accounting diversity.
• Assess how cultural and regulatory differences may affect expectations and ethical standards of the auditors.

Reference:

Doupnik, T., Finn, M., & Gotti, G. (2024). (6th ed.). McGraw Hill Education.

Meaning of Profit and Loss appropriation account with its account or features and difference between profit and loss account and Profit and Loss appropriation account

Meaning of Profit and loss Appropriation account with its account or features and diff between profit and loss account and profit and loss Appropriation account

In a 750-1000 words (3-4 pages) in length (not including title and reference page), please go to the and research their “Current work plan” section located in the “Projects” tab. Select one (1) of the projects the IASB is working on and summarize the plan. Your document must adhere to APA 7th ed format. Your paper must include at least three external references (in addition to your book).

Prior to beginning work on this discussion forum, review the following resources:

• Chapters 5 and 6 of your textbook Principles of Auditing & Other Assurance Services
• Risk Assessment Interactive

In your initial post, select a specific company; it can be your current employer, a company where you might want to work in the future, or simply a company that interests you.

Assume that you have been hired as the financial statement auditor. From this perspective, address the following:

• Propose three methods that you would use to gather and evaluate audit evidence.
• Explain how your assessment of fraud risk influenced your approach.
• Analyze how technology and automated tools may support the analysis, documentation, and retention of audit evidence.

Reference:

Whittington, R., & Pany, K. (2024). . McGraw Hill Education.

Prior to beginning work on this discussion forum, review the following resources:

• Chapter 3 of your textbook Principles of Auditing & Other Assurance Services
• Ethical Considerations and Decision-Making Interactive

Chapter 3 presents a five-step framework for ethical decision-making and the AICPA Code of Professional Conduct, which applies to both accountants and auditors.

In your initial post, address the following:

• Explain a unique ethical dilemma that an auditor may face in practice.
• Evaluate how the auditor could use the five-step framework for ethical decision-making to arrive at the most ethical course of action.
• Assess how the principles of the AICPA Code of Professional Conduct influenced your analysis or conclusion.

Reference:

Whittington, R., & Pany, K. (2024). . McGraw Hill Education.

Respond to Katherine’s Post:

“Introduction

Artificial intelligence (AI) is becoming an increasingly valuable tool in the accounting profession. It offers efficiency in handling repetitive tasks and processing large volumes of data. However, despite its advantages, AI also presents limitations that must be considered before implementation.

Benefits of AI in Accounting

AI is an effective tool for managing repetitive data entry and performing complex calculations. It has the capability to predict future business performance by analyzing historical data. Additionally, AI can identify and categorize specific transactions and assign them to the appropriate accounts.

AI systems can be trained to perform many of the routine tasks typically handled by accountants. This allows professionals to focus on more strategic and analytical responsibilities, improving overall productivity.

Limitations of AI in Accounting

Despite its advantages, AI has notable limitations, particularly in the accuracy and interpretation of information. As explained by Rayid Ghani, The model is just predicting the next word. It doesn’t understand. This means that AI generates responses based on patterns it has learned, organizing information in a way that appears logical but may not always be correct or optimal.

There are additional challenges that may discourage accountants from adopting AI within their organizations. For example, when coding transactions, an experienced accountant understands how a company operates and can determine whether an item should be capitalized or expensed. AI lacks this contextual understanding and may struggle to classify complex transactions or identify potential risk factors.

Another limitation is the need to continuously update AI systems with new regulations. AI cannot independently interpret or adapt to new financial reporting standards or compliance requirements without being reprogrammed in a timely manner (Aico Team, 2025).

Furthermore, AI relies heavily on the accuracy of the data it receives. Information such as sales, products, and daily transactions must be input into the system for analysis. However, human error and system malfunctions can result in incorrect data. AI cannot easily detect these inaccuracies unless it is provided with extensive external (extrinsic) informationknowledge that experienced accountants develop over time.

Aico Team. (2025, October 17). Limitations of AI in finance: Why human expertise remains valuable. Aico.

Monahan, J. (2023, July). Artificial intelligence, explained. Carnegie Mellon University, Heinz College.

Bradshaw, J. (n.d.). Unleashing AI in accounting and finance: Boost your efficiency today [Video]. YouTube.”