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ACC 561 Education Specialist
ACC 561 Education Specialist
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Purpose of Assignment
Required:
a. Calculate the select financial ratios for the fiscal year Year 2. (use MS
word or excel but excel is more recommended)
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1. Discuss your business and the product or service your small business
provides.
2. Identify which accounting method (i.e. cash versus accrual) you plan
to use for your business. Why did you select this choice?
3. List six business transactions you expect to incur with your company.
State which accounts (from your chart of accounts) are impacted.
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ACC/561: Accounting
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Financial Analysis:
Vertical Analysis
Financial Ratios
Form 10-K
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Reply
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Assignment Content
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1. Discuss the loan amount and how you plan to use the loan proceeds.
3. Using the results of your spreadsheet, what questions would you ask
the CFO of the company? Explain.
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Read the case study provided and write a paper between 1,000 and 1,700
words addressing the following questions.
1. You are a recent MBA graduate and were hired by the company as a
business consultant. Your objective is to identify areas for improvement.
Present three business recommendations to management and state how
this will impact the company's financial statements.
2. Why did company management think it was necessary to install an
ABC system? Do you agree with their reasoning? Explain your answer.
4. Is job order or process costing a viable option for the company. Why
or why not?
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Write a paper between 700 and 1,000 words addressing the following:
Part 1, Section 3: Respond to the questions included with the case study.
Costs:
-Mixed costs are equal to $275 per/month (fixed) plus $1.10 per
membership sale (variable).
-Total variable costs are not known.
Add the problem data to the formula and solve for the missing piece of
the equation (i.e. variable costs).
3. Total fixed costs are provided with the problem. Enter fixed costs in
the above formula.
4. Net income at the break even is equal to zero. Enter 0 in the above
formula for net income.
5. Solve the equation. X = total variable costs.
Part 1, Section 2: Use the solution from part 1, section 1 (i.e. variable
costs) in order to calculate the contribution margin (i.e. sales - variable
costs) on a per unit (member) basis. In addition to fixed costs, add
targeted net income equal to $14,500.
Contribution Margin:
The next step is to determine what would monthly sales in members and
dollars have to be to achieve a target net income equal to $14,500 for the
month? Utilize the CVP formula (fixed costs / contribution margin per
member) to finalize the problem. Compute the margin of safety.
Franchise Agreement
Example:
1. Explain how you developed your monthly fee and volume estimates.
2. Discuss why you decided to rent or buy a building and the related
costs such as rent per square foot based on, in part, the location of your
business.
The key is to present the data in a professional manner so the end user
(business owner, etc.) can review the numbers, understand it, and
modify it in the future with little effort. If you use Excel add formulas so
you can modify the data to account for changes in activity. This will
help you manage your investment in the franchise. Example: What if
sales volume is more or less than your original estimate? In this case you
could change sale volume (number of members) and sales revenue and
variable expenses automatically change based on formulas in the
spreadsheet.
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ACC 561 Week 6 Budget Preparation And Variance
Analysis (June 2020 Syllabus)
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Resources: Excel File. Tutorials and links to Excel help files were
provided during week one of our class.
Instructions:
1. Download the Excel file provided. The file is available at the end of
week five.
4 Increase the average animal fee by 1.75% for the first five
months and 2.85% for the remaining seven months of the year.
She doesn’t know if this will occur nor is the owner definitively
planning for this option.
11 The driver for bedding and specialty food is the number of non-
traditional animals. The company expect 320 animals per year at an
average cost of $1.75 per animal for bedding and $1.35 per animal for
specialty food.
14 Use the skills you learned from the week five project. Compute
the break even point in units and dollars. Compute the margin of safety.
Enter the information in the Budget and Variance Analysis tab, rows 50-
56.
Example:
Calculate the variance for all items listed on the spreadsheet (i.e. sales,
all variable and fixed expenses, contribution margin, net income, and the
break even computation).
Column J: Enter the difference between actual results and the budget.
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Resources: Excel File. Tutorials and links to Excel help files were
provided during week one of our class.
Instructions:
1. Download the Excel file provided. The file is available at the end of
week five.
Example:
Calculate the variance for all items listed on the spreadsheet (i.e. sales,
all variable and fixed expenses, contribution margin, net income, and the
break even computation).
Column J: Enter the difference between actual results and the budget.