Topic to be tested:

• Financial Statements

Learning Objectives:

• To understand the presentation of Profit and loss account/Income statement.

GDB Question:

Mr. Waseem is working as an accountant in a business organization under the name of ABC Brothers. He has recently prepared financial statements by using the data available in Trial Balance of ABC Brothers and he has presented the financial statements to the Manager accounts of the organization. Manager accounts observed the following errors in the income statement prepared by Mr. Waseem, which produce inaccurate financial affairs of business.

1. Carriage inwards of Rs. 35,000 wrongly reported under the head of selling expenses.
2. Carriage outwards of Rs. 15,000 wrongly reported under the head cost of goods sold.
3. Selling expenses of Rs. 20,000 wrongly reported under the head of administration expenses.
4. Financial expenses of Rs. 13,000 wrongly reported under the head of selling expenses.

Required:

1. What will be correct amount of Gross profit, if Gross profit before correcting the given errors was Rs. 335,000?
2. What will be correct amount of Cost of goods sold, if the reported amount of sales was Rs. 400,000?
3. What will be the effect of error “A. Carriage inwards of Rs. 35,000 wrongly reported under the head of selling expenses” on Cost of goods sold? (Just mention whether the Cost of goods sold would be overstated, understated or remains unaffected)
4. What will be the effect of given errors on net profit? (Just mention whether the net profit would be overstated, understated or remains unaffected)

• The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
• Submissions without this cover page will NOT be accepted.

Course Learning Outcomes-Covered

• Employ the skills for managing peoples and other complex issues in technology based organizations. (Lo 2.5)

Question - Develop a hypothetical technological company of your own choice(1) Ikea 2) Nike 3) Seventh Generation 4) Panasonic 5) IBM  6) Unilever 7) Allergan 8) Patagonia 9) Adobe) in any field which follows the concept of ‘Sustainable Development’. Draw an outline of your company’s basic fields of operation and explain how it makes use of various sustainable techniques for its development. (Minimum 3 elements of Sustainable Development should be present in your company’s techniques.)                                                

NOTE:

• It is mandatory for the students to mention their references and sources.
• Students may refer their theoretical course content for the elements of Sustainable Development.
• Word Limit – Minimum 350 words for question.

Sanchez Construction Loan Co. makes loans of up to $100,000 for construction projects. There are two categories of Loans—those to businesses and those to individual applicants.

Write an application that tracks all new construction loans. The application also must calculate the total amount owed at the due date (original loan amount + loan fee). The application should include the following classes:

• Loan —A public abstract class that implements the LoanConstants interface. A Loan includes a loan number, customer last name, amount of loan, interest rate, and term. The constructor requires data for each of the fields except interest rate. Do not allow loan amounts greater than $100,000. Force any loan term that is not one of the three defined in the LoanConstants class to a short-term, 1-year loan. Create a toString() method that displays all the loan data.

• LoanConstants—A public interface class. LoanConstants includes constant values for short-term (1 year), medium-term (3 years), and long-term (5 years) loans. It also contains constants for the company name and the maximum loan amount.

• BusinessLoan—A public class that extends Loan. The BusinessLoan constructor sets the interest rate to 1% more than the current prime interest rate.

• PersonalLoan—A public class that extends Loan. The PersonalLoan constructor sets the interest rate to 2% more than the current prime interest rate.

• CreateLoans— An application that creates an array of five Loans. Prompt the user for the current prime interest rate. Then, in a loop, prompt the user for a loan type and all relevant information for that loan. Store the created Loan objects in the array. When data entry is complete, display all the loans. For example, the program should accept input similar to the sample program execution below:

Welcome to Sanchez Construction
Enter the current prime interest rate as a decimal number, for example, .05
0.08
Is this a (1) Business loan or (2) Personal loan
1
Enter account number
1
Enter name
Joe
Enter loan amount
10000
Enter term
5
Is this a (1) Business loan or (2) Personal loan
2
Enter account number
2
Enter name
Sara
Enter loan amount
5000
Enter term
3
... And so on for 5 total loans

After all loan information is input, the program should output the loans in the following format:

Sanchez Construction
Loan #1   Name: Joe  $10000.0
 for 5 year(s) at 9% interest
Loan #2   Name: Sara  $5000.0
 for 3 year(s) at 10% interest
Loan #3   Name: Mike  $975.0
 for 1 year(s) at 10% interest
Loan #4   Name: Jane  $7000.0
 for 5 year(s) at 9% interest
Loan #5   Name: Peter  $300.0
 for 1 year(s) at 9% interest

====================================================

public class BusinessLoan extends Loan
{
public BusinessLoan(int num, String name, double amt, int yrs, double prime)
{
// write your code here
}
}

===============================================

import java.util.*;
public class CreateLoans implements LoanConstants
{
public static void main(String[] args)
{
// write your code here
}
}

===============================================

public abstract class Loan implements LoanConstants
{
protected int loanNum;
protected String lastName;
protected double amount;
protected double rate;
protected int term;
public Loan(int num, String name, double amt, int yrs)
{
// write your code here
}
public String toString()
{
// write your code here
}

public boolean equals(Loan loan)
{
// write your code here
}
}

=========================================

public interface LoanConstants
{
public static final int MAXLOAN = 100000;
public static final int SHORT_TERM = 1;
public static final int MEDIUM_TERM = 3;
public static final int LONG_TERM = 5;
public static final String COMPANY = "Sanchez Construction";
}

============================================

public class PersonalLoan extends Loan
{
public PersonalLoan(int num, String name, double amt, int yrs, double prime)
{
// write your code here
}
}

You are a recent accounting graduate and have been employed in the Financial Reporting Unit of Myer Holdings Ltd, an ASX listed firm. Preparations are underway for the completion of the general purpose financial report for the year ended 29 July 2018 and you have been asked by the Chief Financial Officer to identify any major accounting issues which will need to be considered. Your attention is drawn to a media release by ASIC on 31 May 2018 (ASIC Media Release 17‐162) and this identifies areas of concern where attention will be directed in the ASIC surveillance program. Not surprisingly given a recent academic paper1 ‘impairment of assets’ receives specific mention.

Required:

You are required to prepare a report for the CFO considering whether impairment of assets is an issue requiring address for the firm.

The report should, with reference to AASB 136:

a) With reference to Myer outline what evidence is there that impairment testing of assets is necessary;

b) With reference to Myer outline the processes required to be addressed in determining any asset impairments that might be necessary

c) With reference to Myer outline the information needed in determining asset impairments

d) Evaluate the flexibility management has available in the determination of asset impairments.

You are a Public Accountant from PT Jaya Alami for the financial year ending on September 30, 2007. The company's main activities are design, manufacture and sell clothes. For the book year ended 30 September 2007 the company suffered losses, but profit forecast for the year ended 30 September 2008 show profit. The loss suffered by the company was due to the loss of its main customer, a national retailer who had been ordering clothing for years companies with brands from these national retailers. Currently the company focusing on its own clothing brand that has been sold in the market for a long time high margin. The company also plans to expand its customer base for new model clothes and have signed several contracts with several new customers from abroad. The company has also negotiated a contract with a major supplier that causes the purchase price of materials to decrease monthly purchases. During the financial year ended September 30, 2007,The company experiences negative cash flow several times, but can survive thanks to the facilities overdraft from banks and slow down payments on trade debts and VAT payments.
The company has credit from XYZ bank which is due in March 2008 and in the process of negotiating with KLM bank in order to repay loans from XYZ bank.

Question:
a. Explain what is meant by the concept of going concern and why Public Accountants must consider going concern companies.
b. Mention the things that the auditor should consider when reviewing profit and loss and cash flow forecost made by the company, in considering the company's going concern.
c. Explain the effect on PT Jaya's audit report for the fiscal year ending September 30, 2007, if credit negotiations with KLM bank cannot be finalized when the audit report is signed.

This is in C# on visual Basic

1. Write a base class that has two property members: name and contact and one method member: CalculateFinalGrade(). must be an Abstract class method must be by its child class. (1 point)

For example,

Student {

                Property: StudentName

                Property: Contact

                Method: CalculateFinalGrade()

}

1. Write two child classes and , both of which inherit and implement any abstract member. needs a property for Quiz score and implements CalculateFinalGrade() to calculate final the grade in LETTER (based on Quiz score only). needs two properties, one for quiz score and the other for term paper score, and implements CalculateFinalGrade() to calculate the final grade in LETTER (based on both Quiz and Team Paper scores). The maximum quiz score for both undergraduate and graduate is 250. The maximum term paper score for graduate only is 50. For undergraduate, the final grade is calculated with the formula: (quiz score/250). For graduate, the formula is ((quiz + term paper)/300). In the CalculateFinalGrade(), the calculated final grade in percentage must be converted to the LETTER grade as (A: >=90%; B: >=80% and <90%; C: >=70% and <80%; D: >=60% and <70%; F: <60%). That is, CalculateFinalGrade() will return a LETTER grade. (2 points)

For example, (note: the following are pseudo codes, not C#)

UndergraduateStudent : Student {

Property: QuizScore

Method: CalculateFinalGrade {

      theQuiz = QuizScore/250

                     if theQuiz >= 0.90 then

                        finalGrade = "A"

                 else if theQuiz >= 0.80 then

                        finalGrade = "B"

                 ...

                else if theQuiz <= 0.60 then

                        finalGrade = "F"

finalGrade

}

Note:

1. You can have both and to inherit and overrides the CalculateFinalGrade() in each of them. OR inherits and inherits . That is, the CalculateFinalGrade() in is overridden by the same method in its child class , which is further overridden in its child class .
2. You can use either switch case… or if .. else if.

3. Use the classes in the above to implement the GradeCalculation program as follows. (2 points)

In this program, you don’t need to implement data validation (even though I did it in the demo program). Make sure to hide the Term Paper textbox when the undergraduate is selected.

Select a publicly traded company for which an Accounting and Auditing Enforcement Release (AAER) was published on the U.S. Securities and Exchange Commission (SEC) website at http://sec.gov/divisions/enforce/friactions.shtml in the past two years. Submit the company name to the instructor for approval. Please note that each student must research a different company.

After obtaining instructor approval, review all AAERs published during the five-year period and SEC Complaint relating to this company during the past five years, as well as information available on the company’s Investor Relations website to evaluate the following items.

Prepare a 10-12 slide PowerPoint presentation (excluding title page, abstract, references page, and appendices containing financial analysis) containing detailed speaker’s notes for each of these slides presenting the findings of your analysis of the AAERs and SEC Complaint. Your presentation should discuss the following:

• Explain the history of corporate accounting responsibility.
• Discuss how you think that CSR has influenced social accounting.
• Ethics, accounting, and legal issues involved in the AAERs and SEC Complaint.
• Role of accountants in recognizing and assessing ethical issues when performing audits of financial statements, management accounting, internal auditing, and not-for-profit accounting.
• Ethics standards contained in the AICPA Code of Professional Conduct.
• Ethics requirements of the Board of Accountancy for the State in which you intend to pursue CPA licensure.
• Current trends and events illustrating the importance of ethics in the accounting profession.

C++ question. Need all cpp and header files.

Part 1 - Polymorphism

problem 3-1

You are going to build a C++ program which runs a single game of Rock, Paper, Scissors. Two players (a human player and a computer player) will compete and individually choose Rock, Paper, or Scissors. They will then simultaneously declare their choices and the winner is determined by comparing the players’ choices. Rock beats Scissors. Scissors beats Paper. Paper beats Rock.

The learning objectives of this task is to help develop your understanding of abstract classes, inheritance, and polymorphism.

Your task is to produce a set of classes that will allow a human player to type instructions from the keyboard and interact with a computer player.

Your submission needs to contain the following files, along with their header files:

• main-3-1.cpp
• Player.cpp
• Person.cpp
• Computer.cpp

Part 1: Abstract Classes

Define and implement an abstract class named Player that has the following behaviours:

void move();
string getMoves();
char getMove(); //returns the most recent move made
bool win(Player * opponent); //compares players’ moves to see who wins

Declare the move() and getMoves() functions as pure virtual and set proper access modifiers for the attributes and methods.

If no one wins, the game should output “draw! go again”, and the game continues until a winner is determined.

Part 2: Polymorphism

Computer Class:

Define and implement a class named Computer that inherits from Player. By default, Computer will use Rock for every turn. If it is constructed with another value (Paper or Scissors), it will instead make that move every turn.

The Computer class has the following constructor and behaviours:

Computer(string letter); //set what move the computer will
//make (rock, paper, or scissors)
//if the input is not r, R, p, P, s, S or
//a string starting with one of these letters,
//set the move to the default ‘r’

string getMoves(); //returns all moves stored in a string

void move(); //increments number of moves made

To explain, if the computer was constructed with Computer(‘s’), and it made 3 moves, getMoves() should return:

sss
For advice about testing, please use the debugging manual (Links to an external site.).

Person Class:

Define and implement a class named Person that inherits from Player. The Person can choose Rock, Paper, or Scissors based on the user’s input.

The Player class has the following behaviours:

void move(); //allow user to type in a single character to
//represent their move. If a move is impossible,
//“Move unavailable” is outputted and the user is
//asked to input a character again.
//Otherwise, their input is stored

string getMoves();   //returns all moves stored in a string

Write a main function that uses Computer and Person to play Rock, Paper, Scissors. The Computer can be made with either constructors, but should set the default move to ‘r’. The player should be asked to input a move which is then compared against the computer’s move to determine who wins.

All the Player’s previous moves should be outputted, followed by all the Computer’s moves outputted on a new line.

For this assignment, you will modify existing code to create a single Java™ program named BicycleDemo.java that incorporates the following:

• An abstract Bicycle class that contains private data relevant to all types of bicycles (cadence, speed, and gear) in addition to one new static variable: bicycleCount. The private data must be made visible via public getter and setter methods; the static variable must be set/manipulated in the Bicycle constructor and made visible via a public getter method.
• Two concrete classes named MountainBike and RoadBike, both of which derive from the abstract Bicycle class and both of which add their own class-specific data and getter/setter methods.

Read through the "Lesson: Object-Oriented Programming Concepts" on The Java™ Tutorials website.

Download the linked Bicycle class, or cut-and-paste it at the top of a new Java™ project named BicycleDemo.

Download the linked BicycleDemo class, or cut-and-paste it beneath the Bicycle class in the BicycleDemo.java file.

Optionally, review this week's Individual "Week One Analyze Assignment," to refresh your understanding of how to code derived classes.

Adapt the Bicycle class by cutting and pasting the class into the NetBeans editor and completing the following:

• Change the Bicycle class to be an abstract class.
• Add a private variable of type integer named bicycleCount, and initialize this variable to 0.
• Change the Bicycle constructor to add 1 to the bicycleCount each time a new object of type Bicycle is created.
• Add a public getter method to return the current value of bicycleCount.
• Derive two classes from Bicycle: MountainBike and RoadBike. To the MountainBike class, add the private variables tireTread (String) and mountainRating (int). To the RoadBike class, add the private variable maximumMPH (int).

Using the NetBeans editor, adapt the BicycleDemo class as follows:

• Create two instances each of MountainBike and RoadBike.
• Display the value of bicycleCount on the console.

Comment each line of code you add to explain what you added and why. Be sure to include a header comment that includes the name of the program, your name, PRG/421, and the date.

Rename your JAVA file to have a .txt file extension.

Submit your TXT file.

*******************CODE**************************

class Bicycle {

    int cadence = 0;
    int speed = 0;
    int gear = 1;

    void changeCadence(int newValue) {
         cadence = newValue;
    }

    void changeGear(int newValue) {
         gear = newValue;
    }

    void speedUp(int increment) {
         speed = speed + increment;   
    }

    void applyBrakes(int decrement) {
         speed = speed - decrement;
    }

    void printStates() {
         System.out.println("cadence:" +
             cadence + " speed:" + 
             speed + " gear:" + gear);
    }
}

***********************************SECOND CLASS********************************************

class BicycleDemo {
    public static void main(String[] args) {

        // Create two different 
        // Bicycle objects
        Bicycle bike1 = new Bicycle();
        Bicycle bike2 = new Bicycle();

        // Invoke methods on 
        // those objects
        bike1.changeCadence(50);
        bike1.speedUp(10);
        bike1.changeGear(2);
        bike1.printStates();

        bike2.changeCadence(50);
        bike2.speedUp(10);
        bike2.changeGear(2);
        bike2.changeCadence(40);
        bike2.speedUp(10);
        bike2.changeGear(3);
        bike2.printStates();
    }
}