Requirements for week 2:

R1(about 1 hr). Learning objective 1 is designed as a self-study topic. Read the parts of chapter 1 that are related to the SEC, FASB and AICPA. Then complete R1 in Assignment 1. You can find the answers from the following websites:

www.sec.gov

www.fasb.org

and

www.aicpa.org

R2 (about 30 mins). Read “GAAP and IFRS” in “Reading materials” and skim through the following article

http://www.journalofaccountancy.com/issues/2004/sep/financialreportinggoesglobal.html

Then try to answer R2 in Assignment 1.

 R3 (about 20 mins). Learning objective 3 is designed as a self-study topic. Read the part of chapter 1 that is related to SOX before you try to complete R3. You can find answers from the following website:

https://en.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act

R4 (about 20 mins). Read “Searching financial statements.pdf” in “reading materials” and go to www.sec.gov Find Apple Inc.’s 10-k form for the fiscal year ended September 24, 2016. Submit the link of the 10-k file you’ve found.

R5 (about 30 mins). Review the debit/credit rules (from last week) and complete journal entries for transactions #6, 9, 11, 13, 21, 23 &25 in the mini-project using the templates provided.

R6 (about 30 mins) Read “Periodic v.s. perpetual.pdf” in “reading materials” and answer question R6.

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Answer the following two questions: Briefly describe an organization with which you are familiar. Describe a situation when a manager in that organization could use cost behavior information and how the manager could use the information. Compare discretionary fixed costs to committed fixed costs. Think of an organization with which you are familiar. Give two examples of discretionary fixed costs and two examples of committed fixed costs which that organization may have. Explain why the costs you have chosen as examples fit within the definitions of “discretionary fixed costs” and “committed fixed costs.”

Due Date:  Tue, 3/7/17

Grading Type: Numeric

Points Possible:  150 

Points Earned:  0

Deliverable Length:  Excel spreadsheet and 1-2 pages

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Assignment Details

 Assignment Description

Consider the following scenario:

Andre has asked you to evaluate his business, Andre’s Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-hour week and a 50-week year, regardless of the number of haircuts. Rent and other fixed expenses are $1,750 per month. Hair shampoo used on all clients is $0.40 per client. Assume that the only service performed is the giving of haircuts (including shampoo), the unit price of which is $12. Andre has asked you to find the following information.

• Find the contribution margin per haircut. Assume that the barbers’ compensation is a fixed cost. Show calculations to support your answer.
• Determine the annual break-even point, in number of haircuts. Support your answer with an appropriate explanation. Show calculations to support your answer.
• What will be the operating income if 20,000 haircuts are performed? Show calculations to support your answer.
• Suppose Andre revises the compensation method. The barbers will receive $4 per hour plus $6 for each haircut. What is the new contribution margin per haircut? What is the annual break-even point (in number of haircuts)? Show calculations to support your answer.

Using the information provided, provide a memo to Andre explaining the completed analysis and how he should use this information to monitor the operations of the barber shop.  The memo should explain the cost associated with the barber shop including their relationships.

Please submit your assignment.

For assistance with your assignment, please use your text, Web resources, and all course materials.

Your assignment will be graded in accordance with the following criteria. Click here to view the grading rubric.

 Other Information

THIS ASSIGNMENT IS DUE TONIGHT MARCH 7TH, 2017 AT 10PM CENTRAL STANDARD TIME.

IM PAYING A TOTAL OF $15.00 FOR THIS ASSIGNMENT.

PLEASE FOLLOW DIRECTIONS CAREFULLY. 

Due to varying business characteristics, the managerial accounting techniques applied in each business may differ.  For example, a business in the start-up phase may rely heavily upon budgeting and capital investment techniques; whereas, a business in the mature/maintaining phase may rely heavily upon cost management and quality control. Ultimately, the techniques used by management should assist the business in achieving its short-term and long-term goals through effective decision-making.

For your Final Paper, you will analyze the role of managerial accounting in two parts. Part I will provide a general overview of managerial accounting. Part II will provide examples of how managerial accounting theories and principles are applied in the business world.  You may find it helpful to reflect upon your own professional experiences for examples.

Part I (three to four double-spaced pages, excluding the title and reference pages)

Present the following:

Define managerial accounting Describe the role of managerial accounting and the management accountant in a business or organization Describes ethical issues/concerns for the management accountant Describes at least three managerial accounting techniques available and their application within a business or organization

Part II (Four to six double-spaced pages, excluding the title and reference pages)

Select at least three of the five topics identified below:

Cost Management Techniques Costing Methods Capital Investment Decision Techniques Budgeting Quality Control

For each topic selected, present real world examples of the application of managerial accounting techniques within a business or organization.  Examples may be gathered from your own professional experiences or from case studies obtained from credible sources (excluding textbook examples explored in previous weeks).  Presentation of each example should include how a managerial accounting technique was applied in the business or organization’s decision-making model.  Be sure to support your example with calculations when applicable.