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ACC 561 – University of Phoenix

Tuesday, 15 May 2018 / Published in Uncategorized

ACC 561 – University of Phoenix

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1

Week 2 Part 1

I'll bet that most of you have never heard of COSO. However, they play an extremely important role in the accounting field. This is also a crucial sectio of the BEC test on the CPA exam. So, let's take a look at the organization together. Take a look at the site link I have provided. Who are COSO? When were they developed, an why are they so important now?

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Week 2 Part 2

3

Week 3 Part 1

Question: Are you asking yourself, "What is ERM?" "In response to a need for principles-based guidance to help entities design and implement effective enterprise-wide approaches to risk management, COSO issued the Enterprise Risk Management - Integrated Framework in 2004. This framework defines essential enterprise risk management components, discusses key ERM principles and concepts, suggests a common ERM language, and provides clear direction and guidance for enterprise risk management. The guidance introduces an enterprise-wide approach to risk management as well as concepts such as: risk appetite, risk tolerance, portfolio view. This framework is now being used by organizations around the world to design and implement effective ERM processes" ("Coso", 2016).

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Week 3 Part 2

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Week 4 Part 1

Question: Select an American corporation.(must be publicly traded in the US) Visit its website and download the Income Statement, Statement of Stockholders Equity, Balance Sheet, and Statement of Cash Flows. The statements must be from the company website- summaries from other sources will not be accepted. They are in the investors section. You are looking for the complete published annual report, or 10-K. Sometimes it is under SEC filings. Make sure it is the most current published year. ANSWER the following questions using the financial statements for your chosen company: • Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year? • Explain the relevance of changes in net income to investors. • Determine the ending balance in shareholders' equity. Why would organizations such as Labor Unions be interested in this? • Determine the total value of assets. • Discuss the relevance of the total value of assets to potential creditors and why this is important. • Determine the total cash flow from ALL operations. This is not from the operating portion of the cash flows, but overall. What does it balance to on the balance sheet? • Explain which users would find the financial statements most important. • Discuss how the financial statements are used in your current role or a position you would like to hold. How might these aid you in managerial decision making? Include a link to the financial statements along with your assignment. This is an informal assignment, and APA is not required.

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Week 4 Part 2

7

Week 4 Part 3

8

Week 5 Part 1

Visit the website of your favorite U.S. company. Find the company's financial statements in the section of the website for investors. You are looking for the full annual report- also called a 10-K. It may be listed under SEC Filings. Make sure it is the most current published year. Post a link to the statements. What did you find interesting about each of the four financial statements, which include balance sheets, income statements, statements of cash flows, and statements of owners' equity and notes? How could the information in those statements be useful to an investor and to a manager?

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Week 5 Part 2

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Week 5 Part 3

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Week 6 Part 1

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Week 6 Part 2

13

Week 6 Part 3

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