عدد المساهمات: 1814
تاريخ التسجيل: 20/09/2008
|موضوع: Academic year: 2014/15 Semester: Summer 1. Program: BA in Business Studies 2. Track: Accounting 3. Course Code: BE210 (BE210/4) 4. Course Title: Introduction to Financial Accounting 5. General Course Coordinator, الأربعاء نوفمبر 11, 2015 2:34 am|| |
Academic year: 2014/15
1. Program: BA in Business Studies
2. Track: Accounting
3. Course Code: BE210 (BE210/4)
4. Course Title: Introduction to Financial Accounting
5. General Course Coordinator, GCC: Dr. Awwad Alnesafi
6. TMA Grade Distribution:
Criteria Content Deductions:
Format & Presentation; Referencing;
Word count and E-library Total marks
Almarai the world’s largest vertically integrated dairy company
Marks 20 <1 0> each ; in total maximum deductions <0 4 > 20
The TMA covers the financial accounting concepts and practices in the businesses; as you work, you will gain confidence in your ability to use the financial statements. It is marked out of 100 and is worth 20% of the overall assessment component. It is intended to assess students’ understanding of some of the learning points within chapters 1 to 4. This TMA requires you to apply the course concepts.
The TMA is intended to:
Increase the students’ knowledge about the reality of the accounting as a profession.
Assess students’ understanding of key learning points within chapters 1 to 4.
Develop students’ communication skills, such as memo writing, essay writing, analysis and presentation of material.
Develop basic ICT skills such as using the internet.
The TMA requires you to:
1- Review various study chapters (from Chapter 1 to 4) of the textbook ‘Horngren’s Financial and Managerial Accounting” and apply some of the concepts within it.
2- Conduct a simple information search using the internet.
3- Present your findings in not more than 1,000 words.
4- You should use a Microsoft Office Word and Times New Roman Font of 12 points.
5- You should read and follow the instructions below carefully. Each part of the process will carry marks for the assignment.
General instructions for students:
Plagiarism: It’s imperative that you write your answers using your own words. Plagiarism will be penalized depending on its severity and according to AOU plagiarism policy.
Word count: your answers are expected to be within the specified word count. A 10% deviation from word count limit is acceptable. Not adhering to specified word count could result in the deduction of up to 4 marks of your total TMA mark.
Referencing: You are expected to use the Harvard referencing style for in-text referencing and list of reference at the end. Failing to do so could result in the deduction of up to 4 marks of your total TMA mark.
E-library: You are expected to use E-library sources to support your answers. A minimum of 3 sources is required. Failing to do so could result in the deduction of up to 4 marks of your total TMA mark.
Format and Presentation: In your answer, you should explain each point or inquire separately. Use the following headings (below) to make up the different sections of your answer:
PT3 form (Cover) Available on LMS
Contents Title and contents page
TMA Critical Thinking
Reference list Recorded according to the Harvard style - Available on LMS
Failing to do so could result in the deduction of up to 4 marks of your total TMA mark.
The TMA Questions
Read the cases below and answer the following questions:
Ahmed was accounting manager at ABC co and he is a cousin of Adel, the CEO of ABC co. The CEO stood to earn a substantial bonus if ABC increased net income by year-end. Ahmed, the accounting manager, boasted to Adel, the CEO, that he knew some accounting tricks that could increase company income by revising a few journal entries for rental payments on production units.
At the end of the year, Ahmed changed the debits from ‘rent expenses’ to ‘prepaid rent’ on several entries. As a result, Adel got his bonus and the deviations were never discovered.
1- How did the change in the journal entries affect the net income of the company at year-end?
2- Who gained and who lost as a result of these actions?
Your family would like to start a trading company in your country and hire you as accounting profession to make some important decisions such as using cash or accrual basis accounting, how often will financial statements be prepared, when will the business records it revenues and expenses.
Write a report to address the above considerations and give complete explanation of your reasoning?
Salem would like to expand his business and has borrowed $100,000. As a condition for making this loan, the bank requires that the business maintain a current ratio of at least 1.5.
The expansion costs have brought the current ratio to 1.4 on Dec. 15. To avoid this decrease in current ratio Salem record in December $10,000 of revenue that the business will earn in January of next year. The contract for this job has been sign.
1- Journalize the revenue transaction, and indicate how recording this revenue in December would affect the current ratio.
2- Discuss whether it is ethical to record the revenue transaction in December. Identify the accounting principle relevant to this situation, and give the reasons underlying your conclusion.
Khaled company facing its first annual net loss as the end of the year approached and he is under the pressure from the company’s creditors to report positive net income for the year. He told the controller to record the $ 10,000 incoming bank loan as a revenue instead of a loan. That would nudge the company’s income into positive territory for the year, and then, he said, the entry could be corrected in January when the loan was repaid.
1- How this action affect the year-end income statement? How would it affect the year-end balance sheet?
2- If you were one of the company’s creditors, how would this fraudulent action affect you?
End of questions,
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