Project 1 Acc300 Assignment

  

Project 1: Number Cruncher vs. Strategic Thinker 

Due Week 4 and worth 200 points

It’s one thing to be able to look at a Financial Report and analyze it using ratios and comparisons. However, keep in mind that when you do that, you are studying historical information. Your true value as an accountant will come if you can use that historical information to make future projections and decisions involving change.

For this project, you will take a set of financial reports from a fictional or real company, and try to determine what would happen if something changed within the company. You will identify something you want to change, and then try to determine the impact of that change.

For example, suppose you want to grow the company’s sales by extending credit to more customers. How will this impact sales, accounts receivable, cash flow, expenses (especially bad debt), etc.? Once you determine that, how will it ultimately impact the Balance Sheet, Income Statement, and Statement of Cash Flows? How will it impact your key ratios? What non-accounting information (such as training staff in new processes) might be impacted?

Some other examples could be: what happens if you reduce payroll (a very common thing these days), or reduce inventory (to move to more of a real-time inventory system), or make a significant capital purchase? What would be impacted?

For Project 1, write a 2-3 page paper in which you: Identify      something you want to change in the company and identify and explain the      impact of the change. Identify      a financial report related to your proposed change and explain how your      use of this report will influence your decision-making. Identify      how information or processes not directly related to accounting will be      impacted by the proposed change. Cite      at least one reference other than your textbook which supports your      rationale.
Note: Wikipedia and other websites do not qualify as      academic resources.

Your assignment must follow these formatting requirements: This      course requires use of Strayer Writing Standards      (SWS). The format may be different than other Strayer University courses.      Please take a moment to review the SWS documentation for details (more      information and an example is included in the Strayer Writing Standards      left menu link). Include      a cover page containing the title of the assignment, the student’s name,      the professor’s name, the course title, and the date. The cover page and      the reference page are not included in the required assignment page      length.

The specific course learning outcomes associated with this assignment are: Analyze      the functions and the main sections of the four (4)      primary financial accounting statements: the income statement, the      statement of retained earnings, the balance sheet, and the statement of      cash flows. Prepare      the main sections of the four (4) primary financial      accounting statements: the income statement, the statement of retained      earnings, the balance sheet, and the statement of cash flows. Use      technology and information resources to research issues in intermediate      accounting. Write      clearly and concisely about intermediate accounting using proper writing      mechanics.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric. (file attached)

  

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