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UMUC ACCT 220 Complete Week Discussions Latest

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UMUC ACCT 220 Complete Week Discussions Latest

UMUC ACCT 220 Complete Week Discussions Latest

ACCT220

UMUC ACCT 220 Complete Week Discussions Latest

UMUC ACCT 220 Week 1 Discussion Latest

Select a publicly traded U.S. corporation you would like to study this semester and ask the professor for permission by posting a response here. You may search for the name of your company and Investor Relations and look for SEC Filings

Your corporation must meet the following criteria:

  1. It must have an SEC 10-K report for the current or most recent prior year.
  2. It must have an Accounts Receivable and Inventory account.

Your corporation may NOT

  1. be the same corporation you used for SEC projects in other courses
  2. be the same corporation a classmate selected
  3. be a bank or any other type of financial institution

Discussion Requirements

  1. Write the name of the corporation, the stock market where it is traded, and its ticker symbol in the Subject line when you respond to this posting and all other postings related to this project.

For example:

  • Under Armour; NYSE: UA
  • Apple; NASDAQ: APPL
  • Exxon Mobile; NYSE: XOM
  1. State why you want to study and prepare a financial analysis of your corporation.

Provide a direct link to your corporation’s SEC 10-K report for the most recent year. A direct link is a hyperlink that takes you directly to a website where the SEC 10-K report is located. For example, this is the direct link to the 2015 SEC 10-K report for Apple, Inc.:.sec.gov/Archives/edgar/data/320193/000119312515356351/d17062d10k.htm”>https://www.sec.gov/Archives/edgar/data/320193/000119312515356351/d17062d10k.htm

The most direct route to finding the direct link is to use the SEC EDGAR System and search by Company name. The following link is a good place to start your search: .sec.gov/edgar/searchedgar/companysearch.html”>http://www.sec.gov/edgar/searchedgar/companysearch.html

  1. State your corporation’s position on the Fortune 500 List for the current year.
  2. Provide page numbers for all four required financial statements:
    • Income Statement (Hint: It could be listed as the Consolidated Statements of Income.)
    • Balance Sheet (Hint: It could be listed as the Consolidated Balance Sheet or Statement of Financial Position.)
    • Statement of Stockholders Equity (Hint: It could be listed as the Consolidated Statements of Stockholder’s Equity or Consolidated Statements of Stockholder’s Deficit.)
    • Statement of Cash Flows

UMUC ACCT 220 Week 2 Discussion Latest

Read the prompt below and click the title above to respond.

1. Locate the Income Statement (may have a different heading such as Statement of Consolidated Operations). Hint: First line should relate to Revenue.

** What is the Description and Dollar Value of the first line on the Income Statement (it may be net sales)?

2. Locate the Balance Sheet (it may have a different heading, such as the Statement of Financial Position).

** What are the names of the assets and their values (if more than five line items, report only the first five line items and dollar values).

3. Take care with the concept of $ dollars. Many financial statements are expressed in millions of $. You would report $895 million for the value $895,000,000. Be a very careful reader.

4. Statement of Owners’ Equity: Post the line items and dollar values in the “Equity” section of the balance sheet. You will likely find line items including Common Stock, Retained Earnings (or Deficit), and Treasury Stock.

5. Always include the name of your SEC 10-K company in the subject line and the link to your SEC 10-K financial statement when posting.

6. What is the Net Income (or Net Loss) for your SEC 10-K company?

UMUC ACCT 220 Week 3 Discussion Latest

Read the Notes to the Financial Statements (FS) for your SEC 10-K company. These “notes” are displayed after the financial statements.

1. Note 1 includes accounting information. What is the fiscal year for your SEC 10-K Company? This may be June 30 each year, or it may be the Sunday closest to the last day of January, or some other description.

2. Inventory: How is Inventory described for your SEC 10-K company? LIFO, FIFO, and/or average cost? Relate your answer to topics in our course.

3. Income Statement: Is it a single-step or multi-step income statement?

4. Calculate the Gross Profit and Gross Profit Percentage for this year and last year, creating a small table, such as the following:

This Year Last Year
Net Sales $1,200 $1,400
Cost of Goods Sold 800 1,200
Gross Profit 400 200
Gross Profit Percentage 33% 14%

In the example above, sales decreased, gross profit increased, and the gross profit percentage increased. Therefore, sales are more profitable. We made 33 cents of gross profit on every dollar of sales this year, but only 14 cents of gross profit on every dollar of sales last year. Sales decreased, but sales are actually generating more profit overall, both as an absolute dollar value and as a percentage.

Your description may be different, but these are comments you might make for this posting and in your SEC 10-K paper and project.

UMUC ACCT 220 Week 5 Discussion Latest

Read the prompt below and click the title above to respond.

Using the SEC 10-K for your company, answer the following questions:

1. Reading the notes to the financial statements, as well as the balance sheet, post information about the Accounts Receivable for your company. Who owes the company money?

2. Search for the phrase “Bad Debts” or Allowance (for collectible accounts). When you read the balance sheet, you may see that the receivables are listed as a net of $x,xxx to show the Allowance for Bad Debts. Comment about the changes in Accounts Receivable and the Allowance for Bad Debts. Are they increasing or decreasing? How does this relate to sales (are sales increasing or decreasing)?

3. Property, Plants, and Equipment / PPE (Capital Assets; Fixed Assets): Comment about PPE and accumulated depreciation. How are these values changing from year to year: PPE, Accumulated Depreciation, and Net PPE?

UMUC ACCT 220 Week 6 Discussion Latest

Read the guidelines below for peer review and click the title to respond.

Participating in the Peer Review process serves four purposes:

1) Each student has an opportunity to learn about another corporation.

2) Providing detailed and constructive feedback results in higher grades for all students.

3) Seeing how other students approached the project may provide insight for your to improve your project.

4) At your discretion, you have an opportunity to edit your project before submitting it for a grade.

To participate in the SEC 10K Peer Review process, post a draft of one or both documents as a response to this discussion topic.

Ask for and volunteer to provide detailed and constructive to one or more of your classmates.

UMUC ACCT 220 Week 7 Discussion Latest

Previous weeks discussed Current Liabilities and Payroll Accounting; please post comments on your experience with any elements of payroll.

Some ideas to consider:

1. Do you receive a form 1099? Why should you receive a higher hourly rate than if you were issued a W-2 Form (this relates to the self employment tax of 14.3% based on 7.65% as the withholding from the employee and the match paid by the employer as payroll taxes).

2. W-2’s must be mailed to employees by January 31 each year. The employer must submit W-2 information to the government no later than February 28 each year. What are some the challenges doing this?

3. If you work for a company and have the ability to sign checks, you may have a liability for unpaid payroll taxes. How comfortable are you with this responsibility?

4. If you work for a company that is not properly submitting payroll taxes, this usually does not affect your withholding values. What do you think of this as a concern for small businesses?

5. At some point, you’ve probably have filled out a W-4, where you declare the amount of exemptions you wish to claim related to your Federal Tax withholding obligation. What are the financial consequences you need to think about as you complete the W-4?

UMUC ACCT 220 Week 8 Discussion Latest

The end of the semester is a good time to think about your math, accounting, and Excel skills. Take a moment to think about, and then comment on, the following questions:

1. What has been your experience in this course using Excel to solve math problems?

2. At this point, how comfortable are you using Excel for business purposes? When do you still use your calculator?

3. What do you think would help you improve your Excel skills, if you need to do so?

 

UMUC ACCT 220 Complete Week Discussions Latest

UMUC ACCT 220 Complete Week Discussions Latest

 

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