...What are the three sections of a cash budget, and what is included in each section? | | The three sections of a cash budget are: cash receipts, cash payments, and financing. The cash receipts section includes items that the company received payment for ranging from: collections from customers for work provided, sales from items sold, interest from bonds/investments, and dividends from investments. The cash payment section includes items that the company paid for ranging from: purchases of inventory or equipment, operational expenses, and dividend payments. The financing section includes items that pertains to the company's borrowing and repayment status, so items of those nature are usually applied in this final section. | Why is a cash budget so vital to a company? A cash budget is vital to a company as it helps forecasts the upcoming receipts and payments for a specific period of time. A company can use a cash budget to figure out where they stand cash wise to determine whether they have enough money to cover impending expenses/purchases or how much money will remain if they decide to pay out dividends. It just gives better insight to where the money will be coming and going in the upcoming periods. What are the five basic principles of cash management that a company can follow in order to improve its chances of having adequate cash? a. collect receivables as quickly as possible - receive cash as soon as possible, so it's not an outstanding item and you can...
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...CASE STUDY 3 - Cash Budget Template SCHEDULE OF EXPECTED CASH COLLECTIONS FROM CUSTOMERS: Credit Sales July August September Total Cash Collections August 12,000 14,400 26,400 SCHEDULE FOR EXPECTED PAYMENTS FOR PURCHASE OF INVENTORY Inventory purchases July August September Total Payments for Inventory Purchases August 32,500 22,500 55,000 Oxford Company Cash Budget For the Two Months of August and September Cash balance Add: Receipts Collections from customers Sale of plant assets Sale of new common stock Cash sales Total receipts Total Available Cash Less: Disbursements Purchases of inventory Operating expenses Selling and administrative expenses Dividends Equipment purchase Total disbursements Excess (deficiency of available cash over disbursements) Financing Borrowings Repayments Ending cash balance Please answer the 3 qualitative questions on the next tab called Qualitative Questions. August $10,000 26,400 12,350 51,000 89,750 99,750 55,000 6,750 12,500 19,000 93,250 6,500 3,500 $10,000 September 9,600 10,800 20,400 September 22,500 10,500 33,000 September $10,000 20,400 16,850 39,000 76,250 86,250 33,000 6,750 12,500 6,000 58,250 28,000 (3,570) 24,430 1) 2) 3) What are the three sections of a Cash Budget, and what is included in each section? Cash receipts section: This section includes cash that is expected to be recieved from company activity and customer payments. This includes money coming in from the sale of Cash disbursements...
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...ACCT 504 WEEK 3 CASE STUDY 1 FLOWER LANDSCAPING CORPORATION A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=week-3-case-study-1-flower-landscaping-corporation Visit Our website: http://hwsoloutions.com/ Product Description ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation, JOURNAL Entries July 19 Made payment on account to Lakeside Company, $400. July 31 Received cash for landscaping revenue for the last half of July, $2,620. July 31 Declared and paid cash dividend of $1,600. Prepare journal entries to record the July transactions in the General Journal below. Use the following account names for journal entries. General Journal Chart of Accounts: Account Title (Normal Balance) Date Description(Account Name) Debit Credit 1-Jul Assets Cash 24,000 Cash (Debit) Common Stock 24,000 Prepaid Insurance (Debit) Landscaping Supplies (Debit) 1-Jul Prepaid Insurance 2,400 Landscaping Equipment (Debit) Cash 2,400 Accum Depr -Equipment (Credit) 1-Jul Rent Expense 2,080 Liabilities Cash 2,080 Accounts Payable (Credit) Income Tax Payable (Credit) 3-Jul Landscaping Equipment 8,800 Cash 1,200 Stockholders Equity Accounts Payable 7,600 Common Stock (Credit) Retained Earnings (Credit) 8-Jul Landscaping Supplies 780 Dividends (Debit) Accounts Payable 780 Revenue 12-Jul Utility Expense 308 Landscaping Revenue (Credit) Cash 308 Expenses 16-Jul Cash 2,724 Rent Expense (Debit) Landscaping Revenue 2,724 Utility Expense (Debit) Insurance...
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...ACCT 504 WEEK 6 CASE STUDY 3 – CASH BUDGETING – LBJ COMPANY A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=week-6-case-study-3-cash-budgeting-lbj-company Visit Our website: http://hwsoloutions.com/ Product Description ACCT 504 Week 6 Case Study 3 – Cash Budgeting – LBJ Company, What are the three sections of a Cash Budget, and what is included in each section? 1. The cash receipts section includes expected receipts from the company’s principal source(s) of cash. It also shows anticipated receipts 0f intersest and dividends, and proceeds from planned sales of investments, plant assets, and the company’s capital stock. 2. The cash disbursements section shows expected payments for inventory, labor, overhead, and selling and administative expenses. This section also includes projected payments for income taxes, dividends, investments, and plant assets. 3. The financing section shows expected borrowings and the repayment of the borrowed funds plus interest. The financing entry when there is a deficiency or when the cash balance balance is less than management’s minum required balance. ACCT 504 Week 6 Case Study 3 – Cash Budgeting – LBJ Company, What are the three sections of a Cash Budget, and what is included in each section? 1. The cash receipts section includes expected receipts from the company’s principal source(s) of cash. It also shows anticipated receipts 0f intersest and dividends, and proceeds from planned sales of investments, plant...
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...ACCT 504 ACCT 504 Entire Course + Final Exam ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation ACCT 504 Week 5 Case Study 2 Internal Control LJB Company ACCT 504 Week 5 Course Project Draft Spreadsheet ACCT 504 Week 6 Case Study 3 Cash Budgeting LBJ Company ACCT 504 Week 7 Course Project JCP Kohls ACCT 504 Final Exam (3 different sets) + Discussions Financial Reporting Environment and GAAP Details of Financial Statements and Ratios Accounting EquationAccounting Cycle Accrual Accounting and Adjusting Entries Merchandising Operations and Income Statements Inventory Cost-Flow Assumptions Understanding Internal Control and Reporting Cash Accounting for and Reporting Receivables Plant Assets and Intangibles Accounting for Liabilities Accounting for and Reporting Equity Statement of Cash Flows Issues in Income Reporting Different Tools for Financial Analysis ACCT 504 Final Exam (3 different finals) ACCT 504 Week 1-7 Discussion Question ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation ACCT 504 Week 5 Case Study 2 Internal Control LJB Company ACCT 504 Week 5 Course Project Draft Spreadsheet ACCT 504 Week 6 Case Study 3 Cash Budgeting LBJ Company ACCT 504 Week 7 Course Project JCP Kohls ACCT 505 Week 7 Capital Budgeting Course Project (DEVRY) ACCT 505 Entire Course (DEVRY) ACCT 505 Week 1-7 All Discussion Questions Cost Terms, Classifications, and Behavior Research and Application ...
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...Preferences is only available after you complete the Career Plan Building Activity: Competencies. Write a paper of no more than 350 words discussing the results of your Career Plan Building Activity: Work Culture Preferences and Competencies. Reflect on your results. How can knowing your ideal work culture help you in developing strategic and operational plans to achieve organizational goals? Which competencies are essential to conducting a strengths, weaknesses, opportunities, and threats (SWOT) analysis? How do your competencies relate to the essential competencies for conducting a SWOT analysis? Click the Assignment Files tab to submit your assignment. 3- You have decided to pursue an MBA degree either to further your career, start a new career, or achieve a personal goal. In this program, you will study the functional areas of business. Use the MBA Overview and Effective Research and Writing at University of Phoenix Modules you reviewed to complete this assignment. Write a paper that analyzes the role of a manager within the functional areas of business: Required elements: No more than1050 words Two articles, including at least one peer-reviewed article, from the University Library cited in your paper to support your...
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...BUS 519 WEEK 4 ASSIGNMENT 2 – RISK MANAGEMENT PLAN http://www.coursehomework.com/product/bus-519-week-4-assignment-2-risk-management-plan/ Contact us at: +1 315-750-4434 help@coursehomework.com BUS 519 WEEK 4 ASSIGNMENT 2 - RISK MANAGEMENT PLAN Note: The assignments are a series of papers that are based on the same case, which is located in the Student Center of the course shell. The assignments are dependent upon one another. In this assignment, you will create a risk management plan. You have a budget of $100,000 and a timeline of six (6) months for the plan. Please refer to Figure A-1, Risk Management Plan Template, from Appendix A of the Hillson and Simon text to create the plan. Write an eight to ten (8-10) pages paper Risk Management Plan Component paper in which you: 1. Prepare the Scope and Objectives of the Risk Management Process section of the Risk Management Plan based on the facts presented in the case study. 2. Determine the project size, based on the facts presented in the case study, and provide justification based on Figure 3-4, Example Project Sizing Tool (Chapter 3 of the Hillson and Simon text). 3. Select the risk tools and techniques, and complete the Risk Tools and Techniques section of the Risk Management Plan for both the qualitative and quantitative aspects of the project. Provide a rationale for the selection. 4. Develop the Risk Reviews and Reporting section of the Risk Management Plan based on the project size previously...
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...than 350 words based on the Career Plan Building Activities completed throughout this course. In the paper, consider the following questions: What are the next steps in your career plan? What milestones have you established in the Career Plan to monitor your progress towards your career goals? Why do you think these steps are important in helping you progress? How can you focus your time and attention in future courses based on your career competencies and goals? Click the Assignment Files tab to submit your assignment. 2- Read Case Application 1, “Lessons from Lehman Brothers: Will We Ever Learn?” at the end of Ch. 5 of Management. Discuss the scenario with your team. Discuss the second, third, and fifth discussion questions at the end of the case with your team. Answer each question based on your team’s discussion in no more than 350 words per question. Click the Assignment Files tab to submit your assignment. 3-1. As a university student, your institution’s social principles and practices reflect on you, as a stakeholder, in the organization. Therefore, it is your right to question how these practices should be evaluated in relation to the social issues that your school is addressing. If your university was paying minimum wage when necessary and applying the minimum legal standards to its employees’ work environment, it would be said to have fulfilled its ________. social obligation social responsibility social responsiveness social expectation ...
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...Accounting 504 Case Study 1 Case Solution Req.1 Journal | DATE | ACCOUNT TITLES | DEBIT | CREDIT | | | | | | June. | 2 | Cash | 55,000 | | | | Common Stock… | | 55,000 | | | | | | | 3 | Supplies… | 3,000 | | | | Equipment | 5,200 | | | | Accounts Payable… | | 8,200 | | | | | | | 4 | Cash…… | 6,300 | | | | Service Revenue… | | 6,300 | | | | | | | 7 | Land | 37,000 | | | | Cash… | | 37,000 | | | | | | | 11 | Accounts Receivable… | 1,200 | | | | Service Revenue | | 1,200 | | | | | | | 16 | Accounts Payable | 2,800 | | | | Cash | | 2,800 | | | | | | | 17 | Utilities Expense | 230 | | | | Cash… | | 230 | | | | | | | 18 | Cash… | 700 | | | | Accounts Receivable… | | 700 | | 22 | Utilities Expense | 400 | | | | Cash | | 400 | | | | | | | 29 | Cash | 5,000 | | | | Service Revenue | | 5,000 | | | | | | | 30 | Salary Expense | 4,300 | | | | Cash | | 4,300 | | | | | | | 30 | Dividends | 3,000 | | | | Cash | | 3,00 | Req. 2 Cash | | Accounts Receivable | Jun. 2 | 55,000 | Jun. 7 | 37,000 | | Jun. 11 | 1,200 | Jun. 18 | 700 | 4 | 6,300 | 16 | 2,800 |...
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...TAXATION, AND LEGAL STUDIES IN BUSINESS ACCOUNTING 231 - COST ACCOUNTING SYSTEMS GRADUATE- 3 S.H. SP 2016 Section A: Wednesday, 3:30-5:50pm, CRN 21871, Starr 210 INSTRUCTOR’S NAME: Dr. Nathan Slavin OFFICE HOURS: Monday and Wednesday 2:25-3:25 LOCATION OF OFFICE: 043 Weller Hall PHONE NUMBER: (516) 463-5690 E-MAIL ADDRESS: actnzs@hofstra.edu Teaching Assistant: Ms. Dan Gu (516) 637-9517 Dgu1@pride.hofstra.edu GENERAL INFORMATION Location of Department Office: 205 Weller Hall Telephone number of Department: 516-463-5684 Department Chairperson: Professor Victor Lopez Department Administrator: Prof. Linda Schain DESCRIPTION OF COURSE This course introduces students to the concepts, conventions, and principles underlying cost accounting and analysis for use by managers for making decisions. At the end of this course, students will understand cost behavior and cost allocation techniques, appreciate internal profitability reporting and analysis, and understand both job order costing and process costing systems utilizing actual, normal and standard costing applications. Also, students will learn standard and flexible budgeting, cost volume profit analysis, and unit cost measurement. PREREQUISITES OF COURSE ACCT 203 or approved...
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...Week 5 Case Study 2 Acct Financial 504 October 5, 2014 1. Inform the President of any new internal control requirements if the company decides to go public. Based on the facts given in the case, new internal control requirements that are needed for the company to go public are listed. a. Compliance with Sarbanes Oxley act regulations b. Compliance with SEC, GAAP and IFRS procedures to record all transactions c. Internal audit on company financial and business processes and transactions d. Implementation of better security measures for data protection, identity protection and ensuring and insuring the company resources are not misused. 2. Advise the President of what the company is doing right and also recommend to the President whether or not they should buy the indelible ink machine. e. Some of the things that the company is doing well and should continue are listed below and in accordance with the Sarbanes Oxley Act and GAAP regulations: f. Pre-numbered invoices are used for accounting g. Having an accountant who is able to manage the accounts and streamlining many of the processes h. Loyalty and trust with long term employees In terms of requirement for purchasing the indelible ink machine, I would suggest that the company should procure it. Having the indelible ink machine would help the company to process its checks faster and track these payments that would help in better record of transactions. Also...
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...Case Study 2 DeVry University Professor Cleary Acct. 504 28May14 Case Study 2 Table of Contents Introduction ……………………………………………………………………………………….3 Required changes ………………………………………………………………………....………3 Practices to keep …………………………………………………………………………....…….3 Practices to change ……………………………………………………………………………….4 Conclusion ………………………………………………………………………………………..5 References ………………………………………………………………………………………...6 Introduction This letter is to address some concerns that the president of LJB Company has come to the author to address. The particular areas of concern are the internal controls that are present at the company. Additional concerns include changes that may need to be made if the company goes public, best practices that should be kept, and practices that need to be altered. This letter will address the issues listed in order with a summary and conclusion at the end. Required Changes This section will cover the required changes that need to be made to conform to regulations that will need to be followed if the company decides to go public. LJB will need to conform to the Sarbanes-Oxley Act if the company decides to go public. Some key features of the act that will have to be taken to be in compliance with the act include the following; the issuance of an internal control report and have an outside auditor evaluate the soundness of the report. The auditing company may not also provide any consulting services to the company. For further information regarding the...
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...Internal Control Case Study #2 Acct 504 Accounting and Finance Managerial Use Table Of Contents 1. New Internal Control requirements if company goes public (pg. 2) 2. Suggest what company is doing correct and why ink machine should not be purchased. Pg. 3 3. Internal control principle used 4. What are the wrong internal control methods being used and Principle that is being violated and recommendations on how to improve Good afternoon Mr. president. I have been given some information about your interest for your company to go public. My colleague has provided some information about some various questions you have had. I will go over some your recent request as ordering a new ink machine, taking the company public and what new internal control methods we can keep and some we can enhance. The first topic we will discuss is the request about going public. When going public there are some internal control methods that have to be followed for a publicly traded company. The company will have to follow a series of Internal control methods to adhere with SOX (Sarbanes and Oxley Act) 1. • A control environment. It is the responsibility of top management to make it clear that the organization values integrity and that unethical activity...
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...Control Evaluation Acct: 504 Case Study 2 Prepared by: Lennard Razor Prepared for: LJB Company 11/29/2014 LJB, 1 Table Of Contents Introduction: LJB Company Assessment 2 LJB Company: The Transition 3 Summary 5 Works Cited 6 LJB, 2 Introduction: LJB Company Assessment The overall purpose of this document is to assess the current state of the LJB Company. This assessment will thoroughly diagnose all of the components, both good and bad, used by LJB Company to help determine the company’s readiness to go public. Upon assessing all of the components and regulations currently utilized by LJB Company, I will also make recommendations for the improvement and future success of this company moving into the public market. In order to properly perform an assessment of the LBJ Company, there first had to be some set of standards or regulations that outline the internal controls and proper procedures for companies and businesses to adhere to for financial reporting. As it turns out internal control is a key component of Foreign Corrupt Practices Act(FCPA) of 1977 and the Sarbanes-Oxley Act(SOX) of 2002 which required companies to follow this set of internal controls. This list of internal controls is as follows: 1). Conduct its business in an orderly and efficient manner, 2). Safeguard its assets and resources, 3). Deter and defect errors...
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