Assignment 2: Discussion—Understanding Financial Statements

In this assignment, you will learn to read and interpret financial statements. Understanding the four financial statements provided in the lectures and reading for this week and dealing with a company’s financial performance is critical to making decisions about its management and its relation to the global economy and financial markets.

Tasks:

• Put the following income statement and balance sheet terms (general ledger accounts) in the proper order for properly prepared financial statements:

Taxes, interest, gross profit, selling, general and administrative expenses, sales, depreciation, net income, cost of goods sold, EBITDA.

• Put the following balance sheet terms (general ledger accounts) in the appropriate category as either short-term assets, long-term assets, short-term liabilities, long-term liabilities, and/or owner’s equity for properly prepared financial statements:

Cash, accounts payable, accruals, property, plant and equipment, inventory, accounts receivables, paid in capital, retained earnings, notes payable, mortgage, accounts payable.

• In terms of McGladrey and Pullen’s Reading & understanding financial statements: A guide to financial reporting, explain the balance sheet equation in 300 words or less. Incorporate this explanation into your complete initial post.

Submission Details:

• By Saturday, June 10, 2017, post your responses to this Discussion Area. Support your assumptions by citing reputable source material used for this discussion in APA format.
• Through Wednesday, June 14, 2017, respond to at least two of your classmates’ posts on two different days. While responding, share any real-world experiences involving what these concepts mean to you as far as their role in decision making is concerned. Provide substantive comments by contributing new, relevant information or quotes from course readings, Web sites, or other sources; building on the remarks or questions of others; or sharing practical examples of key concepts from your experiences—professional or personal.

Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include APA citations of all sources, and demonstrate accurate spelling, grammar, and punctuation. Do the following when responding to your peers:

• Read your peers’ answers .

Provide substantive comments to at least two peers on a minimum of two different days by

• • contributing new, relevant information from course readings, Web sites, or other sources;
  • building on the remarks or questions of others; or
  • sharing practical examples of key concepts from your professional or personal experiences
• Respond to feedback on your posting and provide feedback to other students on their ideas.
• Make sure your writing
  • is clear, concise, and organized;
  • demonstrates ethical scholarship in accurate representation and attribution of sources; and
  • displays accurate spelling, grammar, and punctuation.

Grading Criteria

 

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MS  PowerPoint Presentation Report on Organization (20%) 

This assignment allows you to demonstrate mastery of the following course outcome:

1. Determine core requisite competencies for the organization and differentiate a total rewards program to attract, retain, and motivate employees possessing the organization’s required competencies

In this assignment, you will design a MS PowerPoint presentation that describes an organization, its current and future challenges, its capabilities, and the requisite competencies needed for its success. You will look for and report on examples of the existing total rewards programs to include monetary, non-monetary, and the work environment (including values and culture). 

The MS PowerPoint presentation should include a report on existing metrics (organizational or HR) if any are present. If citations or Web site materials are used, in-text citations and sources presented on a References page using American Psychological Association (APA) format are expected. This information can be used in the final paper (the final assessment which is a plan to change the organization’s total rewards programs). It is expected that at least three references from the course materials will be used.

At the least, this MS PowerPoint Presentation should include:

1.    Academic Title Slide

2.    Introduction and Purpose for the Paper

3.    Description of the Organization

4.    Capabilities of the Organization and Requisite Competencies of the Employees

5.    Current and Future Challenges

6.    Academic Definition of Total Rewards Programs

7.    Description of Existing Total Rewards Program (Monetary, Non-Monetary and Work Environment)

8.    Existing Metrics that Evaluate the Success of the Total Rewards Program

9.    Conclusions

10.  References Page (with a minimum of three References from course materials)

 

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Mrs Kumari is a wedding planner and a freelance writer. She owns True Love & Events Enterprise located in Klang, Selangor. Mrs. Kumari is married to Mr. Raja. Both Mrs. Kumari and Mr. Raja are citizens and tax residents for the basis year 2018.  

Below is the information regarding their sources of income for the basis year 2018: 

Mrs. Kumari                                                                                      RM 

Business income 

Adjusted income                                                                                 75,000

Balancing charge                                                                                 17,000  

Capital allowances                                                                     6,500 

Unabsorbed capital allowance brought forward from YA 2017           3,400 

Dividend income: 

Single tier dividend of companies listed in Bursa Malaysia                11,700  

Koperasi Felda Berhad (KPF)                                                            10,900      

Rental income: 

Mrs. Kumari owns a house in Putrajaya, Wilayah Persekutuan. The monthly rental is RM1,800. Mrs. Kumari incurred an amount of RM10,200 to renovate the kitchen of the house and another RM3,450 for general maintenances costs.

Royalty income: 

She wrote two books during the year 2018 and she received RM29,400 as the royalty. However, she used RM10,000 of the income to purchase computer and printer. 

She also involved in a cultural performance for the purpose of promoting tourism in Malaysia and received a royalty of RM16,000. The performance was approved by the Ministry of Culture, Arts and Tourism. 

Mr. Raja 

i.          He works as a senior officer at National Audit Department, Putrajaya since year 1990. He received RM8,200 per month as salary and RM300 for the monthly entertainment allowance. He retired on  31 August 2018, when his age is 55 years old.   

ii.         During his period of working with government, Mr. Raja has been provided with the following benefits: 

a.    A fully- furnished house with monthly rental of RM2,100 of which RM480 is for furnishings. The furnished house was provided to Mr. Raja since year 2010. 

 

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1. Mrs grant wishes to compare the performance of 6th graders with the national norm of 100 on a test. The results lead to retain if null hypothesis and mean is 100 and confidence level is 0.01 of her population. She concludes that her research process that the average 6th grader in the district fall right on the national norm of 100. What is your reaction to such a claim?2. State the critical values for testing null hypothesis mean =500 against alternative hypothesis mean < 500 where alpha = 0.01, 0.05, 0.103. To which hypothesis H0 or H1 do we restrict the use of the terms retain and reject?4. Under what conditions is a directional H1 appropriate?5. On the basis of her statistical analysis, a researcher retains the hypothesis Ho:U = 250. What is the probability that she has committed a type I error? explain.6. What is the relationship between the level of significance and the probability of a type I error?7. Suppose a researcher wishes to test H0 U = 100 against H1U>100 using 0.05 level of significance; however if she obtains a sample mean far enough below 100 to suggest that is Ho unreasonable, she will switch her alternative hypothesis to Ho not equal 100 (significance level 0.05 with the same sample data. Assume H- to be true. What is the probability that this decision strategy will result in a type I error. Sketch the sampling distribution and put in the region of rejection?

 

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