Hi Team! Greetings again to you all. For this week we will be focusing on the theme The Financial Accounting Cycle (Part 1).  I have already uploaded the week 2 mini lecture notes to the course page under the heading Course Materials. I implore you to use this additional material alongside the other materials provided in building your knowledge base on this area. Please see our week 2 discussion question as follows: Question: During February 2015, Claude Sample who operates a sports clinic presented the following for the first month of his company’s operation:   Feb 1.             Sample invested $55,000 in the business by depositing it into the company’s bank account. Feb 2.             Paid $46,000 cash for land. Feb 3.            Purchased medical supplies for $1,800 on account. Feb 4.            Officially opened for business. Feb 5.            During the month, Sample treated patients and earned service revenue of $8,000, receiving cash. Feb 6.            Paid cash expenses:…

Assume that you have finished your MBA program and have applied for a position in the Financial Accounting Department of a large multinational company. The company is struggling with its accounting reporting matters and several accounting reports are under regulatory scrutiny. In the interview board, the recruitment committee members have asked you the following questions. What have you learnt in the BUS 505 course relating to financial accounting? How you can contribute the Financial Accounting Department of this company if you are recruited?

Your uncle, Mr. Mensah is a sole proprietor dealing in building materials in Accra. His friend, Kofi Manu has convinced him to convert his sole proprietorship business into a limited liability company. Just last week your Uncle wanted a loan facility from a bank and the bank asked him to submit three years financial statements in addition to other documents. Having learnt the definition of financial accounting and financial statements, your Uncle wants you to help him understand certain issues in accounting. Required: a) Explain four disadvantages of converting the business to a private limited liability company. b) Referring to the definition of financial accounting explain the process that financial transactions have to go through in the preparation of financial statements. c) Apart from the bank that is asking your Uncle to submit financial statements, identify four other users of financial statements and explain their information need

Nicole’s Getaway Spa (NGS) continues to grow and develop. Nicole is now evaluating a computerized accounting system and needs your help in understanding how source documents informaccounting processes. She also needs some help reconciling NGS’s bank account.Required:1. For each source document shown below, prepare the appropriate journal entry or indicate thatno journal entry is required.a. Purchase order dated October 13 for massage chairs costing $765 and oil suppliescosting $240.

Students are required to work as an individual or Maximum group of three members. • Topic is Business Plan for a "Halal Business" Plan Business with 1-Million AED Capital and above (No upper limit). Your idea must be a unique as a new concept (Like Face book, google, etc) or modified existing business concept (e.g. Family airline for kids and moms) • Study market and justify the start of business-based on customer demands • Select location and collect correct information for required assets and purchase of assets (in AED) • Plan distribution channels-How to maintain supply line to customers • Estimate close to reality Human resource needs • Determine IT system requirement-closeto reality along with estimated cost (in AED) • Identify marketing channels-Include all electronic, print, event sponsor etc. Prepare a quarterly financial plan for at least five years

My text book is Hospitality Industry Financial Accounting (4th edition). I am in chapter 9 -- RECEIVABLES AND PAYABLES now. Problem 17 asks me to two tasks. The scenario will be show inthe image.

1. Explain how the organizations culture would influence the design of a new Accounting Information system for a company. 2. An university has various schools and departments that offer various Degree and Diploma courses. The University has been offering courses through two modes of study that include the Full-Time classes and Evening Classes. The university management has been evaluating the possibility of introducing a new mode of study where the university will offer the students the option of selecting 100% online classes option. The University will deploy this 100% online classes option by using Zoom video conferencing software. Other software’s and platforms that the university will use for the 100% online classes mode like google classroom and other softwares. The university has invited you as an expert of accounting information systems to help in the design and implementation of a new revenue transaction cycle system that will be used for the new 100% online classes option mode…

Advanced Accounting requires many rules and regulations. The latter come from many sources. In your Journal this week you will research two rules or regulations that pertain to Advanced Accounting topics and submit them to your Unit 1 Journal. For each of the rules or regulations, answer the following questions. What is the name of the rule or regulation? What agency or government created the rule or regulation? Does any agency or government have the power to enforce the rule or regulation? If so how? If not, does this hinder the enforcement of the rule or regulation?

You have now finished your first semester of accounting covering financial accounting topics. In a couple of sentences tell m 1) what you like about accounting 2) what you dislike about accounting.