Describe the accounting cycle with specified details.

Introduction

Have you looked at the balance sheet or income statement of companies like Apple, Microsoft, Google, Amazon, or Facebook? What is their cash situation? How much profit are they making? What is their stock price? Investors and market participants examine such information on regular basis through a company’s financial statements.

When an organization reports its financial results to the world, the external users look to see if the organization made any money during its most recent year. Will the assets the organization owns, minus the debts it owes, result in any leftovers that can be put back into the organization to make more money, or reward the shareholders for their investment in the organization?

You have studied the business language of accounting and financial statements, and now you will explore the accounting cycle and its first few steps, including:

  • Recording of business transactions.
  • Using general journal entries.
  • Learning how a trial balance is used to prove the work completed in the first few steps in the accounting cycle.

Overview

In this assessment, you are required to answer questions about the accounting cycle and prepare general journal entries.

Preparation

Note: Accuracy in accounting is paramount. Take your time and double-check your work for errors or omissions.

Instructions

Step 1: Describe the accounting cycle with specified details.

Step 2: Create required journal entries.

Complete both parts using the Assessment 2 Template.

Part 1: Accounting Cycle

Respond to the short-answer questions found in the template on the Accounting Cycle tab using proper grammar and language.

Part 2: Journal Entries

Prepare specified journal entries.

Prepare a flexible budget.

Assignment Content

  1. For this assignment, refer to the scenario located in “Problems – Series A,” section 8-19A of Ch. 8, “Performance Evaluation,“ of Fundamentals of Managerial Accounting Concepts. This scenario puts you in charge of preparing a budget for the Redmond Management Association annual public relations luncheon.

    Read the scenario in the textbook and complete the activity below.

    Use Excel—showing all work and formulas—to complete the following:

    • Prepare a flexible budget.
    • Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget.
    • Compute flexible budget variances by comparing the flexible budget with the actual results.
    • Create a 6- to 8-slide presentation for the budget committee meeting. Complete the following in your presentation:
    • Summarize the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the flexible budget.
    • Summarize the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results.
    • Justify the favorable or unfavorable budget variances.
    • Since this is a not-for-profit organization, address why anyone should be concerned with meeting the budget.
    • Make recommendations for what can be done differently to stay on budget for future luncheons. Provide specific examples to support your recommendations.
    • Cite references to support your assignment.

      Format your citations according to APA guidelines.

Strategic Workforce Planning

Strategic Workforce Planning [WLO: 2] [CLOs: 2, 3]Twitter

Prior to beginning work on this discussion,

The purpose of workforce planning is to anticipate needs, set priorities, and allocate scarce organizational resources (Cascio & Aguinis, 2019). Consider that you are the vice-president responsible for talent acquisition of a midsize organization located in the United States. You have been tasked with presenting a forecast of what the organization will need to hire within the next 12 months. Incorporate the four components of workforce planning, as outlined in the course textbook, as you address the key points below in your forecast:

  • How will you to anticipate needs, set priorities, and allocate scarce organizational resources?
  • Is it more prudent to hire contractors or in-house?
  • Which arrangement produces the highest return for the invested resource?

Your initial response should be a minimum of 220 words. Graduate school students learn to assess the perspectives of several scholars. Support your response with at least one scholarly resource in addition to the text.

Course text:
Cascio, W. F., & Aguinis, H. (2019). Applied psychology in talent management (8th ed.). Retrieved from https://www.vitalsource.com

THE HUMANITIES IN MY LIFE

THE HUMANITIES IN MY LIFE

In three paragraphs of at least 5 sentences each, address the following 3 questions.  You will reply to each question in a separate paragraph.  Please make sure you proofread and use proper grammar/conventions of academic writing.

  • Which of the six disciplines of the humanities did you most connect with and why? You are only discussing one discipline.
  • How can you you apply what you’ve learned about that discipline to your everyday life and your college career?
  • Think about the entire course, including the unit on Themes of the Humanities, how can you you apply this information/experience to your everyday life and your college career?

You must start a thread before you can read and reply to other threads

What is the purpose of the post-closing trial balance

What is the purpose of the post-closing trial balance

Post by classmate 1

 

What’s the difference between a current liability and a long-term liability? 

According to the text, the driving factor in the difference between the two is the length of time before the liability will be satisfied.  Typically, if it’s a year or less, it’s a current liability, and anything that will take longer than a year is a long-term.

As long-term liabilities get paid-off, and when their resolution date comes to be within a year, it then becomes a current liability.  If the long-term liability is something that are renewed every year instead of being paid off, they will continually be considered long-term.

Warren, Reeve & Duchac. (2019) Corporate Financial Accounting. 15th edition. Cengage

Post by classmate 2

What types of accounts are referred to as temporary or nominal accounts?

The  book defines a temporary/nominal account as accounts on the income  statement that are not carried forward from year to year. The accounts  that are considered to be temporary/nominal accounts are revenue and  expense accounts.  If a company didn’t close out revenue accounts, it  could give the appearance that they are more profitable than they really  are. This would be a result of reflecting previous years of revenue  balances. Similarly, with expense accounts, one might look and assume  that a company’s expenses appear to be out of control if this account  was carried forward.

Identifying a social change problem is the first task in policy development.

Identifying a social change problem is the first task in policy development.

Agenda Setting

Identifying a social change problem is the first task in policy development. Agenda setting is the next step. The agenda setting process is to establish one or more problems, and then consider several policy solutions to the identified problem.

Based on your reading of Simon’s Public Policy text, Chapter 5, discuss how the process works to transform a social change problem into a proposed policy solution. In particular, emphasize the following:

  1. Explain how issues are framed.
  2. Identify who might be the major policy actor, given Simon’s Chapter 5 examples (choose one).
  3. Choose and discuss the policy theory most relevant to the issue framed.

Briefly describe how policy is formulated in a government situation, knowing that the process is very similar in a for-profit or a non-profit organization.

  1. Briefly describe how policy is formulated in a government situation, knowing that the process is very similar in a for-profit or a non-profit organization.

How Is Policy Formulated?

How policy is formulated is the focus of this discussion. In particular, from the human services perspective, how would policy be formulated on the specific social change problem in the government example Simon offers in Chapter 6 of Public Policy?

  1. Briefly describe how policy is formulated in a government situation, knowing that the process is very similar in a for-profit or a non-profit organization.
  2. Identify the principal actors in the process (consult the Ryser “Elements of a Standard Policy Statement” reading from your Social Policy Toolbox).
  3. Discuss policy development group theory, as applied to your analysis.

  • attachment

    Public_Policy_Preferences_and_Outcomes_—-_Part_II_Dimensions_of_Public_Policy.pdf

the effect of position promotion on employee performance

the effect of position promotion on employee performance

Introduction/Background Provide a brief description of what the proposed research topic is about, why is it important and how you came to be interested in it.

Literature Review

The purpose of this assignment is to develop skills in finding and analyzing valid literary resources for your research.

The review should be written in an integral / synthetic style, and NOT as an annotated bibliography. Please note: Use in-text citations to reference all ideas, concepts, text, and data that are not your own. If you make a statement, back it up with a reference!

• Research a minimum of 15 relevant business-related literature sources (focus on material available in digital format only for this course). Carefully choose your 15 “keepers” that are clearly related to your study. (Note: you might need to find 30 to “keep” only 15).

• Identify major common themes encountered in the selected literature sources. For each theme, create its own subsection within the literature review.

• For each theme / subsection of the literature review, explain the opinions of the authors and show their similarities, differences, methods of acquisition of data, methods of data analysis and other pertinent information. State how the reviewed research results relate to your proposed study.

• Identify the gaps in the literature and explain what needs to be done to move forward in your research.

Statement of the Problem Detail the problem that you are considering. Explain:

• How are you defining and delimiting the specific area of the research?

• What is the gap that will be addressed by this research?

• What it is that you hope to learn by conducting this research?

• Discuss the anticipated outcomes and benefits to the researcher, the organization, or society.

Research Questions Provide focused research questions for your planned research. Also provide a back-up question in case the first one does not pan out. Make sure you address the following questions:

• What is the scope of your research?

• Is the scope of your research question reasonable?

Explain why changes in minimum wage can affect higher paid employees as well

  • Explain why changes in minimum wage can affect higher paid employees as well
  • Explain why changes in minimum wage can affect higher paid employees as well. Providing an example will strengthen your response.
  • What factors help account for the pay gap?
  • Describe how employers can control labor costs. Include in your response what might be some of the affects from these control methods (either positive or negative).
  • What activities in managing the pay system are likely candidates to be outsourced? Why?
  • What will HR professionals face in the future of compensation?   To answer this question, find an article video or other resource that addresses this question. Post the link or attach a document and provide a brief summary of one or two key points and your own assessment of the point you made.

What do you feel is the most important function of Human Resource Management? 

  1. What do you feel is the most important function of Human Resource Management? 

After reading chapter-1 and chapter-2 from the attached textbook answer the following questions as thorough as you can. Answer should be in own words based on the understanding from chapters, APA format must and strictly no plagiarism. Total assignment minimum 3 pages.

 

  1. What do you feel is the most important function of Human Resource Management?
  2.  How do you feel corporate culture impacts human resource management?
  3. How do firms benefit from a strong ethical culture? How can HR departments foster such cultures?
  4. What is corporate social responsibility (CSR)? Identify and discuss the characteristics and the arguments for and against corporate social responsibility