Accounting project done through excel and the grading rubric. PDF provides instr

Accounting project done through excel and the grading rubric.
PDF provides instructions on the assignment.
The excel spreadsheet has to be completed
Sales journal, a purchases journal, cash-receipts journal,
The general journal – The general journal should have a brief detail about the transactions. Example someone bought merchandise, you would write ″bought socks on credit″ Or bought socks with cash, etc etc.
The general journal- adjusting entries -The general journal should have a brief detail about the transactions.
The general journal – closing entries – The general journal should have a brief detail about the transactions.
General ledger – add additional accounts if needed
Sub ledger – add additional accounts if needed
Accounts recievable
accounts payable
income statement
statement of retained earnings
classified balance sheet
post closing trial balance
Also the work sheet
which the instructions have said to use these details with.

Complete the worksheet using the information below. Also, remember to keep accounts reported
on worksheet in order (assets, liabilities, equity, revenue, expense):
a. The salon equipment was purchased on October 1, 2020 and is estimated to have a
$20,000 salvage value and a 5-year life. The straight-line method will be used.
b. Salaries of $4,500 should be accrued.
c. Ending merchandise inventory per a physical count was $25,734.
d. The note payable is an 8%, 4 year note payable that was issued on July 1, 2021. Interest is
payable every July 1.″

Accounting project done through excel and the grading rubric. PDF provides instr

Accounting project done through excel and the grading rubric.
PDF provides instructions on the assignment.
The excel spreadsheet has to be fully completed, it includes a:
Sales journal, a purchases journal, cash-receipts journal,
The general journal – The general journal should have a brief detail about the transactions. Example someone bought merchandise, you would write ″bought socks on credit″ Or bought socks with cash, etc etc.
The general journal- adjusting entries -The general journal should have a brief detail about the transactions.
The general journal – closing entries – The general journal should have a brief detail about the transactions.
General ledger – add additional accounts if needed
Sub ledger – add additional accounts if needed
Accounts recievable
accounts payable
income statement
statement of retained earnings
classified balance sheet
post closing trial balance
Also the work sheet
which the instructions have said to use these details with.

Complete the worksheet using the information below. Also, remember to keep accounts reported
on worksheet in order (assets, liabilities, equity, revenue, expense):
a. The salon equipment was purchased on October 1, 2020 and is estimated to have a
$20,000 salvage value and a 5-year life. The straight-line method will be used.
b. Salaries of $4,500 should be accrued.
c. Ending merchandise inventory per a physical count was $25,734.
d. The note payable is an 8%, 4 year note payable that was issued on July 1, 2021. Interest is
payable every July 1.″

Prompt: Produce a financial statement analysis and valuation report that summari

Prompt: Produce a financial statement analysis and valuation report that summarizes the financial health, projected future performance, and estimated value of
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the publicly traded (S&P 500) company that you selected at the beginning of the course. As an independent financial accounting analyst working for a major
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trade journal, your report is intended to inform a general audience about the overall financial well-being of the company and how it compares to a major
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competitor. Your report should cover information of interest to both internal and external stakeholders—summarizing major findings, suggesting ways to
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improve operational performance, and assessing investment potential. Keep in mind that brief, clear communications are essential in effectively reaching
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business and media audiences.
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Specifically, the following critical elements must be addressed:
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I. Balance Sheet Analysis. In this section, use financial statements and accompanying notes to:
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A. Analyze what the company’s current and prior year liquidity and debt-to-equity ratios say about the company’s financial health, justifying your
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response. Consider the appropriate level of debt and how this year’s performance compares to the previous year.
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B. Consider normalization adjustments when adjusting the balance sheet to be comparable to competitors, when creating the prospective balance
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sheet, and when calculating the final company valuation as either a premium or discount. (Include your analysis spreadsheet in Excel as an
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appendix.)
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C. Analyze the company’s balance sheet for the current and previous year using a horizontal analysis. (Include your horizontal analysis spreadsheet
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in Excel as an appendix.) Explain your findings.
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D. Comparison. Analyze the competitor’s balance sheet indicators for opportunities for the selected company to improve its own performance.
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Justify your response using the financial statements of both the company and its competitor.
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II. Income Statement and Cash Flow Analysis. In this section, use financial statements and accompanying notes to:
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A. Analyze the profitability of your selected company using appropriate profitability ratio(s) and a vertical analysis of the company’s current and
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prior year income statement. (Include your vertical analysis spreadsheet in Excel as an appendix.) Be sure to explain your findings.
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B. Normalization adjustments. Analyze historical income statements to determine whether there were any non-recurring or extraordinary items
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that should be removed from the income statement. An example would be aggressive expense recognition or conservative revenue recognition,
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which could either depress or inflate earnings. Adjusting these items will make the target company more comparable to the others.
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C. Free cash flow. Analyze what your selected company’s free cash flow figures for the current and prior year say about the company’s financial
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health. Consider other sources or uses of available discretionary cash.
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D. Dividend paying capacity of the company. Determine if the company is on track to pay out dividends this year and whether the dividend payout
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ratio increase or decrease.
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I am attaching the financial statements.

2. Who are the two governing bodies that establish GAAP? The Generally Accepted

2. Who are the two governing bodies that establish GAAP?
The Generally Accepted Accounting Principles (GAAP) are a set of rules used to govern all financial accounting practices in the United States. GAAP is primarily established by two governing bodies. These bodies are the Financial Accounting Standards Board (FASB) and the Security and Exchange Commission (SEC) (Kemp & Waybright, 2018). According to the FASB website they are a private sector, Not for Profit organization that establishes accounting and reporting standards for businesses and not-for profit organizations. Those standards are GAAP. The FASB is a seven member board the convenes to discuss topics facing businesses in the modern world. As the world changes so does business and as businesses change the standards by which they follow must also change. The FASB is tasked with ensuring the standards that they set are up to date and applicable to a variety of different businesses. An example of a business the changed with the modern world is Google. Google was one of the first major tech companies and the challenges they faced were different from the traditional company, the FASB created standards to address this. To keep track of their standards for GAAP the FASB created the Accounting Standards Codification (ASC). The Securities and Exchange Commission empowers the FASB to set the GAAP standards for the private sector. The FASB is the only entity recognized by the government to set the GAAP standards. The SEC’s role in GAAP standards is more authoritative and can overrule standards created by the FASB (Alexander, 1981). This ensures balance in the standard setting process and allows the SEC to do their job as a government agency without being completely overbearing on private businesses.
Another entity that is of note in contributing to GAAP is the Governmental Accounting Standards Board (GASB). According to the GASB’s website they are an independent private sector organization that establishes financial and accounting reporting standards for U.S. State and local governments that follow GAAP. The FASB develops the GAAP standards for the private sector while the GASB develops standards for the government’s accounting practices. Both of these boards fall under the Financial Accounting Foundation which is a non-profit organization.
References:
About the FASB. (n.d.). Fasb.org. Retrieved January 18, 2023, from https://www.fasb.org/facts
About the GASB. (n.d.). Gasb.org. Retrieved January 18, 2023, from https://gasb.org/aboutgasb
Alexander, M. O. (1981). Discussion of the SEC “reversal” of FASB statement no 19: An investigation of information effects. Journal of Accounting Research, 19, 212. https://doi.org/10.2307/2490996
Kemp, R., & Waybright, J. (2018). Financial Accounting (5th ed.). Pearson.
CAN YOU RESPONSE BACK WITH THOUGHTS REGARDING THE QUESTION AND ANSWER LISTED ABOUT?

To complete the Assignment 1. You need to use my workbook spreadsheet I attach t

To complete the Assignment
1. You need to use my workbook spreadsheet I attach to complete the assignment
2. You need to review Milestone Two Market Research Data Appendix Word Document Attachment
3 You only need to complete Contribution Margin Analysis” and “Break-Even Analysis” tabs ONLY
4. Make sure address everything in Rubric criteria
5. Review Milestone Two Guidelines and Rubric
6 Show your work using calculations to the side of the table or using appropriate formulas in the table.
7 Review the reading materials for this assignment we are on Chapter 6 for this assignment

An effective accounting information system has the ability to sort through the m

An effective accounting information system has the ability to sort through the millions of things that happen in a company during an accounting cycle and capture only the business transactions that impact the accounting equation.
Questions
1. What responsibility or role does the accountant have in this process?
2. Should information provided by management and other non-accounting personnel be assumed accurate or is it the accountant’s responsibility to investigate each item submitted for legitimacy?
3. In the situation that follows, does Jane have any responsibility to find out the legitimacy of the expenses she is processing or is her job to just pay the bill?
Below is an example of a situation where this would come into play.
Jane is the accounts payable clerk for ABC Corporation. One of her job duties is to process the travel expenses of the chief financial officer and pay the associated business credit card bill. Jane has noticed lately that the CEO’s expense reports are steadily increasing in amount and frequency. From receipts and other documentation that Jane processes, she suspects the CEO is running personal expenses through the company; however, she is not 100% sure.
**A thoughtful opening response will consider the balance of having financial records based on source documents from management that are accurate versus the time needed by an accountant to verify every transaction is correct. Where is this balance is the real consideration in this question?
* Use lecture notes and textbook: Fundamental Accounting Principles 25e by John Wild as sources