Finance Accounting

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Finance Accounting

You are required to answer the following questions:
Question 1:    Answer the following questions as directed:  [Total 7.5 marks; 2.5 marks for each part]
(a)  Sam is planning to retire in 10 years, and buy a house in Byron Bay, Queensland. The house he is currently looking at is priced one million and is expected to grow in value each year at a 5% rate. Assuming that Sam can earn 10% annually on his investments, how much must he invest at the end of each of the next 10 years to be able to buy his dream home when he retires.
(b) ‘The financial director of the ABC company is emphasing the need to create and maximise wealth for the shareholders, while the financial director of the XYZ company believes that maximising profit of the company should be the priority’. Which company do you think adopts the correct strategy? Make a critical evaluation with examples.
(c)  You have just borrowed $10,000. You are required to repay equal amounts at the end of each of 7 years, with the first payment starting in four years’ time. Your interest rate is 8% per annum. How much will be the amount of each payment?
Question 2:   Answer the following questions as directed:  [Total 7.5 marks; 2.5 marks for each part]
(a)  Rowan has invented a new household device that would earn him $12,000 per annum for the next 10 years. Given an interest rate of 10% compounded annually, would Rowan be willing to sell his invention today for $100,000?
(b) Kate won a lottery that will make a payment $100,000 every year, starting today, for the next 10 years. If she invests the payments at a rate of 4.00% per year, what is the present value of the cash flows over the 10 year period? Interest for the 10 equal payments will be compounded at the end of each year.
(c) Property Trust Bank pays its clients 8% interest per annum, compounded on a semi-annual basis. To remain competitive, the bank’s major competitor, Mortgage Trust Bank is willing to match the interest rate offered by Property Trust Bank, but interest will be compounded on a quarterly basis. What nominal rate of interest must Mortgage Trust Bank offer to its clients?
Question 3:                  [Total 7.5 marks; 2.5 marks for each part]
You have had your offer of $1.2 million on a house accepted and have arranged with the bank for a 30 year mortgage equal to 90% of the sale price. The agreement calls for monthly repayments and the bank will charge a nominal annual interest rate of 6%.
(a) If the first payment is due one month after the loan is received, calculate the amount for the regular instalments.
(b) After the 60th payment the interest rate decreases to 5% p.a. Assume you have decided to maintain the monthly repayment. If you choose to pay out the mortgage after the 60th payment, what is the payout figure?
(c) If you choose not to pay out the mortgage after the 60th payment, how much longer will it take you to pay out the loan?
Question 4:                      [Total 7.5 marks; 2.5 marks for each part]
The following table provides the share return forecasts and associated probabilities for ABC Limited and XYZ Limited. Answer parts ‘a’ to ‘c’ using the information provided. Detailed worked solutions must be presented in your answers, including formulae used, progressive and final answers to the questions.
ABC Limited
XYZ Limited
Return (%)
Probability (%)
Return (%)
Probability (%)
16.0
50
18.0
30
12.0
30
10.0
20
10.0
20
8.0
50
(a) Calculate the expected return on each share.
(b) Calculate the variance and standard deviation for each share.
(c) Suppose a portfolio comprised of 60% investment in ABC Limited and 40% investment in XYZ Limited can be constructed. An analyst has estimated that the correlation coefficient of the two-asset portfolio is -0.30, calculate the return and standard deviation of this portfolio. Compare your answer with those reported in parts a. and b. and draw your conclusion.

Audit Documentation

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“Audit Documentation” 
The Sarbanes–Oxley Act of 2002 created the Public Company Accounting Oversight Board (PCAOB) to oversee the work of public accounting firms performing financial statement audits for public filers, those with publicly traded securities on a U.S. stock exchange.
This discussion activity requires two steps:

  • First, select a publicly traded company and retrieve their most recent 10-K (annual filing), which includes the report of the independent audit firm. Read the opinion rendered in the audit report.
  • Next, visit the PCAOB website and review Auditing Standard (AS) 1215 (Audit Documentation).

To complete the discussion, explain how the audit documentation requirements detailed in AS 1215 help to support the opinion that the auditor rendered in their report. Support your conclusions with at least two specific requirements detailed in AS 1215.

Audit Documentation

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“Audit Documentation” 
The Sarbanes–Oxley Act of 2002 created the Public Company Accounting Oversight Board (PCAOB) to oversee the work of public accounting firms performing financial statement audits for public filers, those with publicly traded securities on a U.S. stock exchange.
This discussion activity requires two steps:

  • First, select a publicly traded company and retrieve their most recent 10-K (annual filing), which includes the report of the independent audit firm. Read the opinion rendered in the audit report.
  • Next, visit the PCAOB website and review Auditing Standard (AS) 1215 (Audit Documentation).

To complete the discussion, explain how the audit documentation requirements detailed in AS 1215 help to support the opinion that the auditor rendered in their report. Support your conclusions with at least two specific requirements detailed in AS 1215.

Funds – Accounting homework help

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Assignment Content
1.
Top of Form
Research a mutual fund family such as Vanguard, American Funds, T. Rowe Price, and so forth.
Identify one mutual fund from that family for each of the following categories:
o Actively managed common stock fund.
o Fixed income fund.
o Balanced fund.
o International fund.
o Fund devoted to retirement investing.
Write a 90- to 175-word mutual fund evaluation for each category above in your evaluation:
o Analysis of the characteristics of each fund.
o Recommendation of the type of investor to which each fund is suited.

ACCOUNTING HOMEWORK

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Annual Report II:  Due April 6/7, 2020   [23 points]    This will be about 2 pages in length plus the portion of the annual report you used.6.  The name of the company.(1 point)7.  The ticker symbol and closing stock price of the company’s stock as of February 18, 2020.  Look at the Statement of Stockholders’ Equity or the Statement of Cash Flows.  Were dividends issued? (Yes or No and the total amount.) 4 points)8.  Looking at the notes of the financial statements, summarize the following policies:  (6 points)A.  Revenue recognitionB.  InventoryC.  Property, plant and equipment[9:38 PM]9.  Identify the following for the last two years:RevenuesExpensesIncome from OperationsNet IncomePerform a horizontal analysis (Chapter 13) on the above information. (4 points)10.   Looking at the Statement of Cash Flows, identify the following information for the last TWO years:A.  Largest Use of cash from Investing activities and amounts. These will be negative amounts.  The amount and description. (2 points)B.  Largest Source of Cash from Financing activities and amounts. These will be positive amounts. The amount and description. (2 points)11.  Get an article dated 2020 that mentions your company – not a press release.  This article can be about anything not just financial information – it just needs to mention your company.   Print it out and include it in your report.  Summarize it briefly in your own words.
The company is called TJX company has to be done on TJMAX company

Shortage And Overage

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You will use the Module Six Shortage and Overage spreadsheet to complete this assignment.
Using the Excel spreadsheet, enter the correct formula for each question. Each question may require more than one response. The yellow boxes indicate a response is required.
Refer to the Module Six Shortage and Overage Guidelines and Rubric for directions on completing this assignment
All calculations should be rounded to the nearest tenth.

Shortage And Overage

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You will use the Module Six Shortage and Overage spreadsheet to complete this assignment.
Using the Excel spreadsheet, enter the correct formula for each question. Each question may require more than one response. The yellow boxes indicate a response is required.
Refer to the Module Six Shortage and Overage Guidelines and Rubric for directions on completing this assignment
All calculations should be rounded to the nearest tenth.

Individual Income Tax Accounting

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Acc423 
Individual Income Tax Accounting
(100 points)
You are to prepare a retirement plan for yourself taking the following things into consideration:

  1. You plan to retire at 60 years old (if you are above 40 you can extend your retirement age to 66 or 70) and wish to have a substantial nest egg at retirement.
  2. You are to have two (2) retirement accounts one an IRA and the second one should be either a Keogh, a section 401(k), or a section 457 plan – (a 401(k) or 457 plan can be substituted for the 457).
  3. Your assumed rate of return on any investment(s) should not be greater than 8.5 percent annually.
    1. Attach a spreadsheet showing the amounts invested each year for both retirement plans.

 

  1. For the IRA you should go online and find actual an investment firm(s) and select likely investments. For the Keogh, 401(k), or 457 you can use a sample that you find online.

 

  1. Your findings should be communicated to me via memorandum no later than Friday April 10, 2020. Your memorandum should thoroughly explain the what the tax benefits of your retirement plans and any assumptions that you use to arrive at your results.  Please include at least the following:
    1. What is an IRA? What are the two types of IRAs? Also, fully explain the second type of retirement plan you selected (a 401(k) etc.).
    2. The maximum annual investment amount for your plans.
    3. Your age upon initial investment
    4. Your projected retirement age
    5. Your projected salary or income in you will be self-employed (you must use realistic amounts nothing greater than $70,000)
    6. Information on the firm(s) you selected and why you selected them over others
    7. Information on the investment accounts/vehicles you selected-why you selected them over other.
    8. Tax implications of your plan.
    9. Briefly explain what options are available to your Keogh, 401(k) or 457 plans if you change jobs/careers etc.
    10. Total retirement income available upon your retirement.

Before beginning this assignment, you should read and reread the section in Chapter 9 of the textbook that explain retirement accounts.

Professional Development for Accountants

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Professional Development for Accountants 
PROFESSIONAL DEVELOPMENT FOR ACCOUNTANTS
Detailed Instructions 
Task 1
Create a training presentation to professional accountants on an aspect of corporate accountability or reporting (other than traditional financial reports) from the module.
The presentation should:
• introduce the particular corporate accountability/reporting aspect you wish to cover;
• present a rationale of why you have chosen it and why you think it is important that accountants should be aware of it;
• demonstrate examples of how it is currently reported, including both positive and negative aspects about its coverage, and provide suggestions for improvements; and
• show how professional accountants can contribute to the reporting of the particular aspect you have chosen.
Within the notes area below each slide you should include some detail behind each slide to elaborate on the bullet points, graphics or pictures you use on the slide itself, including any citations to back up your points. Whilst there is no specific word limit on these notes sections, they should not be mini-essays in themselves, only support for what you would say if you were actually presenting the slides to an audience.
You should aim for between 20-25 slides (not including the title slide and any reference list slides).
N.B.: you should not choose the same topic area as you covered in coursework 1 (i.e. not-for-profit reporting).
Task 2
Write a short reflective piece on how your chosen topic from task 1 may inform your own professional practice and career in the future. You may choose to use a reflective model to help structure your reflection, if you feel it is helpful. Examples of these include:
• Kolb (1984)
• Gibbs (1998)
• Johns (2000)
• Moon (1999)
but you may choose any other reflective model if you find it more applicable to your learning.
Whether you choose to use a model or not, you should consider:
• what you have learnt about the particular topic,
• what its impact on you and your learning and potential future career and practice might be; and
• what you might consider doing differently now that you have an awareness of the topic.
This written work should be no more than 800 words (plus or minus 10%).
General guidance
You are advised to put any lengthy supportive information in an appendix. Appendices are not word-counted and are not marked but they can assist you in providing supporting evidence for your analysis. It may be a good idea to attach in the appendix some necessary information for the organisation you are analysing.

Professional Development for Accountants

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Professional Development for Accountants
PROFESSIONAL DEVELOPMENT FOR ACCOUNTANTS
Detailed Instructions 
Task 1
Create a training presentation to professional accountants on an aspect of corporate accountability or reporting (other than traditional financial reports) from the module.
The presentation should:
• introduce the particular corporate accountability/reporting aspect you wish to cover;
• present a rationale of why you have chosen it and why you think it is important that accountants should be aware of it;
• demonstrate examples of how it is currently reported, including both positive and negative aspects about its coverage, and provide suggestions for improvements; and
• show how professional accountants can contribute to the reporting of the particular aspect you have chosen.
Within the notes area below each slide you should include some detail behind each slide to elaborate on the bullet points, graphics or pictures you use on the slide itself, including any citations to back up your points. Whilst there is no specific word limit on these notes sections, they should not be mini-essays in themselves, only support for what you would say if you were actually presenting the slides to an audience.
You should aim for between 20-25 slides (not including the title slide and any reference list slides).
N.B.: you should not choose the same topic area as you covered in coursework 1 (i.e. not-for-profit reporting).
Task 2
Write a short reflective piece on how your chosen topic from task 1 may inform your own professional practice and career in the future. You may choose to use a reflective model to help structure your reflection, if you feel it is helpful. Examples of these include:
• Kolb (1984)
• Gibbs (1998)
• Johns (2000)
• Moon (1999)
but you may choose any other reflective model if you find it more applicable to your learning.
Whether you choose to use a model or not, you should consider:
• what you have learnt about the particular topic,
• what its impact on you and your learning and potential future career and practice might be; and
• what you might consider doing differently now that you have an awareness of the topic.
This written work should be no more than 800 words (plus or minus 10%).
General guidance
You are advised to put any lengthy supportive information in an appendix. Appendices are not word-counted and are not marked but they can assist you in providing supporting evidence for your analysis. It may be a good idea to attach in the appendix some necessary information for the organisation you are analysing.