Category Archives: ACC 573

STRAYER ACC 573 Final Exam Guide NEW

STRAYER ACC 573 Final Exam Guide NEW

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1. To calculate a company’s average tax rate an analyst would

2. The accumulated benefit obligation measures

3. The major difference between accounting for pensions and the accounting for other postretirement benefits is that firms

4. Which of the following is not part of the balance sheet approach when computing income tax expense?

5. The assessment of earnings quality is best accomplished through the use of which one of the following?

6. Firm’s choices and estimates within U.S. GAAP should be determined by

7. The date on which a firm commits itself to a formal plan to dispose of a segment is the

8. Which of the following statements does not apply to preventing “garbage in, garbage out” when implementing a forecasting game plan

9. Nichols and Wahlen’s 2004 study showed that superior forecasting provides the potential to earn superior security returns. Nichols and Wahlen’s findings indicate

10. Common-size financial statements recast each statement item as

11. Financial statement forecasts rely on additivity within financial statements and articulation across financial statements. Given this information sales growth forecasts will most likely affect growth in

12. Equity-based valuation models are based on all metrics except

13. If a firm has a market beta of 0.9, is subject to an income tax rate of 35 percent, has a risk-free rate of 6 percent, a market risk premium of 7 percent, and has a market value of debt to market value of equity ratio of 60 percent, what does the market expect the firm to generate in terms of equity returns using CAPM?

14. Equity valuation models based on dividends, cash flows, and earnings have been the topic of many theoretical and empirical research studies in recent years. All of the following are true regarding these studies except:

A disadvantage of the free cash flow valuation method i

Operating assets include all of the following except

 

 

18. The conceptual framework for free cash flows separates the balance sheet equation into the following categories:

19. If an analyst wants to value a potential investment in the net operating assets of a division of another firm, the analyst should discount the projected free cash flows at the

20. Residual income in a long-run steady-state growth period is referred to as:

21. The two most popular discounted earnings models appear to be

22. Residual income is

23. The market price of a share of common equity reflects

24. Strictly speaking, the price-earnings ratio assumes that firm value is the

25. Valuation using market multiples captures

26. Under the value-to-book model new projects will be abnormally profitable only when

 

STRAYER ACC 573 Midterm Exam Guide NEW

STRAYER ACC 573 Midterm Exam Guide NEW

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ACC 573 Midterm Exam Guide

1. The two categories of shareholders’ equity usually found on the balance sheet of a corporation are

2. When a firm attempting to create unique products or services for particular market niches, in order to achieve relatively high profit margins, this is best known as

3. Which of the following economic characteristics is consistent with a pharmaceutical company?

4. Which of the following economic characteristics is consistent with a commercial bank?

5. Which of the following assets appears on the balance sheet at fair value?

6. The use of acquisition cost as a valuation method is justified on the basis that acquisition cost is:

7. U.S. GAAP, IFRS, and other major accounting standards are best characterized as

8. Toro Company recognized $655,000 of cost of goods sold in 2010, in addition its implementation of a just-in-time inventory system allowed it to reduce its inventory from $325,000 at the beginning of the year to $230,000 at the end of 2010. How much cash did Toro spend for inventory in 2010?

9. Free cash flows to all debt and common equity shareholders represents the excess of cash flows from

10. Normally, cash flows from financing will start using cash during which phase of the product life cycle?

11. When preparing the statement of cash flows using the indirect method, an increase in inventories would appear as

12. Which of the following scenarios is consistent with a increasing cost of goods sold to sales percentage and increasing inventory turnover

13. Which of the following industries would you expect to have, on average, high asset turnover and low profit margin?

14. One important difference between return on assets (ROA) and return on common shareholder’s equity (ROCE) is

15. Sustainable earnings represent

16. Non-U.S. companies that list securities in the United States typically include a risk factors item in the:

17. Economic theory teaches that differences in market returns must relate to differences in

18. One common problem with the current ratio is that it is susceptible to “window dressing.” If prior to the end of the accounting period Saxon Company has a current ratio of 1.5 and management wishes to boost its current ratio it may decide to

19. Which kind of dividends have an interest-bearing promise to pay dividends?

20. Which of the following is the date on which a company determines the owners of the stock that will receive a dividend?

21. Which of the following is the typical tradeoff when issuing preferred stock?

22. An analyst can estimate the average total life of depreciable assets by

23. Which of the following is the least effective way for an analyst to understand whether existing long-lived assets must be replaced?

24. When a foreign entity has the U.S. dollar as its functional currency, it uses which exchange rate to translate monetary assets and liabilities?

25. The method used to account for oil and gas exploration costs that capitalizes the exploration costs of productive wells is the

 

STRAYER ACC 573 Week 1 DQ 1 NEW

STRAYER ACC 573 Week 1 DQ 1 NEW

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• Based on your review of the SEC reporting requirements as outlined in the Sarbanes-Oxley Act, assess the adequacy of the reporting requirements for providing credible financial and operating information for company stakeholders and potential investors, indicating any gaps identified in the reporting. Provide support for your rationale.

 

STRAYER ACC 573 Week 1 DQ 2 NEW

STRAYER ACC 573 Week 1 DQ 2 NEW

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• Assess how the GAAP and IFRS convergence project has impacted SEC reporting requirements, predicting the long-term impact of the convergence on reporting. Provide a rationale for your prediction.

 

STRAYER ACC 573 Week 2 DQ 1 NEW

STRAYER ACC 573 Week 2 DQ 1 NEW

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• As a CFO of a publically traded company, suggest how you would create an ethical environment to ensure account balances are correctly valued and reported so that information is reliable for users. Provide support for your rationale.

• Assess the ethical requirements as outlined in the Sarbanes-Oxley Act, indicating whether or not you believe the requirements are adequate to ensure integrity in financial accounting and reporting activities. Suggest improvements that may be needed while providing support for your rationale.

 

STRAYER ACC 573 Week 2 DQ 2 NEW

STRAYER ACC 573 Week 2 DQ 2 NEW

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• In today’s business environment where publicly traded companies feel pressure to meet short-term earnings expectations, management may be tempted to “manage earnings”. Assess how a financial statement user may be able to detect managed earnings when reviewing the firm’s balance sheet, income statement, and cash-flow statement. Indicate how a potential investor might interpret these “red-flags”. Provide support for your rationale.

• Assess how the Sarbanes-Oxley Act addresses the concern of corporate “managed earnings”, indicating whether or not you believe the requirements within the Act are sufficient to minimize these concerns. Provide support for your rationale.

 

STRAYER ACC 573 Week 3 Assignment 1 Financial Statement Restatement and Ethics NEW

STRAYER ACC 573 Week 3 Assignment 1 Financial Statement Restatement and Ethics NEW

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Write a two to three (2-3) page paper in which you:

1. Assess the factors that contributed to the financial statement restatement, signifying the executive management team’s attitude toward the restatement. Suggest how the restatement may have been avoided during the initial reporting process.

2. Explain the impact to the company’s stock price when the restatement was released and to future earnings forecast, indicating whether or not you believe the impact to the stock price was justified.

3. Evaluate the restatement in terms of management’s ethical violations according to the requirements of the Sarbanes-Oxley Act, providing recommendations to management on how to avoid these problems in the future. Provide support for your recommendations.

4. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

 

STRAYER ACC 573 Week 3 DQ 1 NEW

STRAYER ACC 573 Week 3 DQ 1 NEW

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• As part of the Sarbanes-Oxley Act, corporate officers are no longer able to “pass the buck” of responsibility for ensuring adequate controls over financial statements and reporting activities thus ensuring the accuracy of financial statements. Assess the adequacy of the provisions contained within the Act, indicating whether or not you believe requirements will improve the accuracy of financial statements and reporting. Provide support for your rationale.

 

• Given the requirements contained in the Act for CEO and CFOs to certify the adequacy of controls and financial statement accuracy, evaluate your comfort level with this requirement should you become a CFO of a publically traded company. Provide support for your rationale.

 

STRAYER ACC 573 Week 4 DQ 1 NEW

STRAYER ACC 573 Week 4 DQ 1 NEW

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Based on your review of the current requirements of the SEC and FASB, assess the adequacy of the guidelines for ensuring the transparency of off-balance-sheet transactions to investors, indicating where improvements may still be needed. Provide support for your rationale.

As a CFO of a publically traded company, evaluate the pros and cons of using off-balance-sheet financing, including a recommendation as to whether or not you support using these types of arrangements. Provide support for your recommendation.

 

STRAYER ACC 573 Week 4 DQ 2 NEW

STRAYER ACC 573 Week 4 DQ 2 NEW

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Based on the information found in the e-Activity, assess the key differences between U.S. GAAP and IFRS reporting for the testing of asset impairment and the requirement to write down the asset value. Indicate whether or not you support the U.S. GAAP or IFRS approach. Provide support for your position.
As an investor, recommend a strategy for evaluating long-lived asset values contained on the balance sheet of a publically traded company so as to minimize the risk to the investor. Provide support for your strategy.