I have to do this "interview", I just need truthful/made-up answers to these questions (Include the position you hold and why someone in that position can give a better feel for how someone might use accounting someday)

1. I would like to understand if and how financial reporting affects you and your work. Can you give me any examples of how accounting affects your day-to-day responsibilities or decisions?

2. What do other managers and leaders in your company use your financial statements for (for example, budgeting, compensation, decision making, etc.)?

3. Do any outside parties require you to submit financial statements to them?

4. Are there any items in your competitor’s financial statements that you or your company have found helpful? What about vendor, supplier, or other related companies’ financial statements?

5. Would you still use accounting information if you didn’t have to create or read financial statements? If so, how?

6. Is there anything else you feel I should know about financial accounting as I get started in this class?

7. What information do you use most in your day-to-day work that you’ve learned from your accounting classes?

8. Are there any common problems you run into while doing your day-to-day work?

9. If you run into problems who do you go to first? (Boss, coworkers, internet?)

10. Does working in an office all day get boring?

I have to do this "interview", I just need truthful/made-up answers to these questions (Include the position you hold and why someone in that position can give a better feel for how someone might use accounting someday)

1.      I would like to understand if and how financial reporting affects you and your work. Can you give me any examples of how accounting affects your day-to-day responsibilities or decisions?

2.      What do other managers and leaders in your company use your financial statements for (for example, budgeting, compensation, decision making, etc.)?

3.      Do any outside parties require you to submit financial statements to them?

4.      Are there any items in your competitor’s financial statements that you or your company have found helpful? What about vendor, supplier, or other related companies’ financial statements?

5.      Would you still use accounting information if you didn’t have to create or read financial statements?    If so, how?

6.      Is there anything else you feel I should know about financial accounting as I get started in this class?

7.      What information do you use most in your day-to-day work that you’ve learned from your accounting classes?

8.      Are there any common problems you run into while doing your day-to-day work?

9.      If you run into problems who do you go to first? (Boss, coworkers, internet?)

10.   Does working in an office all day get boring?

Business Basics - Assignment 2

GLOBUS ENTERPRISES YEAR END BALANCES

Assignment

Using the data in the table above, create a balance sheet for Globus’s operations as of yearend (December 31, 200X)

Using the data in the table above, create an income statement for the year being examined.

Analyze the financial statements using the following analytical tools:

Current ratio (What does this ratio tell us about Globus?)

Net working capital (What does net working capital tell us about Globus?)

Note: Net working capital is the difference between current assets and current liabilities.

Debt to equity ratio (What does this ratio tell us about Globus?) Note: To compute owners’ equity from the data supplied here, remember the fundamental accounting equation:

Assets = Liabilities + Owners’ equity

Leverage ratio (What does this ratio tell us about Globus?)

Return on equity (What does this ratio tell us about Globus?)

For the following 6 questions, select one of the answers from below and place the letter in the blank next to the question.

Please check the below questions

• Your personal definition of leadership. How has your definition of leadership changed between the first meeting and the last meeting?
• What is your favorite leadership style or theory learned in the course and why? How could this leadership style or theory make an impact to you and the followers or members of the organization?
• What is your personal leadership development plan? How can you use your skills and be an effective leader now or in the future? How can you or anyone become a leader; or move from being a manager to a leader?
• Elaborate on some of the keys to success in a leadership capacity?
• Take a reverse approach and elaborate on the role of the follower? What is the importance of the follower and his/her role in the process? In the eyes of the follower, what is the best qualities in a leader?
• Elaborate on your lessons learned in the course and how you can apply these to your professional and/or personal lives? Include examples from some of the intersession assignments you completed (such at the Leadership Book Review or the Senior Leadership Interview).

As a Senior Nurse Practitioner, a local health project requires you to establish and ascertain the causative organism for the disease Buruli Ulcer in a given population. Provide a systematic and chronological blueprint of your plan to achieve this purpose.

Based on the knowledge acquired from this course, provide an astute linkage of Microbiology to all the other fields of the health profession that you studied in other courses during this semester.

Please answer all for me

The company A generates revenue primarily through the following means:

Software license fees: typically licenses its software for periods of up to 60 months. Licensees are normally given the following payment options:

Under the first payment option, the company collects the entire license fee at inception. This is categorized as a Paid-Up-Front (PUF) contract. Under a PUF arrangement, company A typically charges a one-time, paid-up- front fee for perpetual usage and the customer does not have the ability to cancel the contract.

Under the second payment option, the licensee pays a portion of the total software license fees at the beginning of the term (initial license fee [ILF]), and the remainder over the license term (ongoing monthly license fee [MLF] for month-to-month usage). In certain arrangements, the customer is contractually committed to making MLF payments for a minimum number of months even when the customer prematurely cancels the contract.

Under either payment option, the company is not obligated to refund any payments received from the customer.

Maintenance fees: These contracts oblige the company to provide post- contract customer support (PCS) to the client over a specified time period. PCS includes a right to periodic upgrades and technical support. The term for PCS is generally shorter than the term of the licensing agreement and is renewable for the duration of the license period.

Services: Other professional services provided by company A include training, installation, and consulting.

Assume that company A entered into a contract with client TDS Inc. for €230,000 on January 1, Year 1, to transfer a software license and an additional €15,000 for installation of the software. The license entitles TDS Inc. to use the software in its current form over an unlimited period and does not include updates. Two years of customer support come free with the license. In recent stand-alone contracts with other customers for the same software, company A has charged €200,000 for the software license, €60,000 for two-year customer support, and €40,000 for installation. The software is usable without customer support from company A and it can be installed by other vendors. The installation is expected to take 250 hours of which 150 hours will be required in Year 1 and the remainder in Year 2. The entire fee of €245,000 is collected on the contract date Based on the five-step revenue recognition process described by the recent revenue recognition rules (IFRS 15 / US GAAP ASC 606),

a. Determine the number of performance obligations, and the contract price to be allocated to each, in the following situations:

i. The installation service does not modify the software.

ii. Installation involves customizing the software to work seamlessly with other software used by the customer. As before, the installation can be performed by other firms as well.

b. Explain if (and if so, why) your responses in i) and ii) above differ, referring to IFRS 15 or to the equivalent US GAAP ASC 606.

c. How much revenue will be booked in Years 1 and 2 from the contract in each case? Assume that all conditions for revenue recognition other than those specified have been met in the situations above.

Governmental and not for profit accounting.

Preston Village engaged in the following transactions:

• It issued $20 million in bonds to purchase a new municipal office building. The proceeds were recorded in a capital projects fund.

• It acquired the building for $20 million.

• It recognized, as appropriate, $300,000 of depreciation on municipal vehicles.

• It transferred $2,060,000 from the general fund to a debt service fund.

• It paid $60,000 in interest on long-term debt and repaid $2 million of principal on the same long-term debt.

• It sold for $5 million village land that had been acquired for $4 million.

The proceeds were recorded in the general fund. Instructions: Answer the following question based on the transactions outlined above.

1. Prepare journal entries to reflect how the transactions would be reflected in government-wide statements (which are prepared on a full accrual basis).

2.  How can governments justify preparing two sets of financial statements, each on a different basis?