Category: Accounting

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 answers 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.

You are preparing a personal financial plan based on one of the three fact patterns provided.  You will prepare a balance sheet, a cash flow statement, and work through three financial issues.
Plan:  Young married couple with new baby
Take the information as given.  Do not change any data.  You may, however, add any additional information to enhance the fact pattern if you believe it is relevant for the financial plan.
– Husband works as a mid-level manager at a salary of $54,000
– Wife worked in banking at a salary of $40,000 and is currently on maternity leave to care for the couple’s new baby
– Couple owns small investment account valued at approximately $60,000
– Husband has 401(k) plan at job and has accumulated 67,000
– Wife has 401(k) plan as well and has accumulated $44,000
– Couple has $3,200 in checking account
– Couple has $23,000 in savings account
– Wife has $18,000 in savings that she inherited from her father when he died
– Husband has four year old Honda Civic in fairly good condition
– Wife has six year old Toyota Corolla
– Couple is considering selling Toyota to purchase or lease a van
– Couple is about to close on a new home.  They are paying $20,000 at the sale and are looking at a $180,000 mortgage for 30 years at 5% interest. So, current value of home is $200,000
– Wife is considering resigning from her job to stay at home with the new baby.  She has one more month of maternity leave. Couple has a slot held for them at daycare at the rate of $250 per week when wife’s maternity leave is over.
– Couple has one credit card that is paid off each month, the couple uses it for shopping and other expenses throughout the month.
TO DO:
1.  Prepare a personal balance sheet 
Remember that you may add to the information to enhance the fact pattern.  
You may want to consider adding assets and/or debt that were not mentioned.
All items on the balance sheet must be explained.
2.  Prepare a cash flow statement 
Remember that you may add information to enhance the fact pattern.  
You may want to consider adding income or expense items.
All items on the income statement must be explained.
3.  Employment:  Compare current job with resigning
Prepare a worksheet to show comparison 
Recommend action to take – keep current job or stay-at-home – why/EXPLAIN your choice:  Show the numbers to support your choice
Write about financial and nonfinancial advantages and disadvantages
Remember that you may add to the information to enhance the fact pattern.
You may determine specifics about work environment as compared to home environment
You may determine specifics about career issues as compared to family issues.
4.  Credit: Evaluate purchase or lease of new van
Prepare a chart to show costs to keep current car, cost to buy, and cost to lease. 
Recommend action to take – keep, buy, or lease – why/EXPLAIN your choice:  Show the numbers to support your choice
Calculate monthly car payments and show work
Remember that you may add to the information to enhance the fact pattern.
You may select the make and model of the new van and determine the specifics about lease and/or purchase
5.  Housing: Evaluate current mortgage arrangements
Prepare amortization schedules to compare 30yr mortgage and 20yr mortgage
Recommend action to take – determine which mortgage term they should select – why/EXPLAIN your choice:  Show the numbers to support your choice
Determine what they can afford keeping car situation in mind when determining this
Remember that you may add to the information to enhance the fact pattern.
****
Part One – Cover Page – Provide your name, your choice of young professional, divorced parent, or married couple, and you should have a brief overview of the family on this front page as well. 
Part Two – Balance Sheet – EVERY PLAN WILL INCLUDE A BALANCE SHEET (Examples of balance sheets are in the textbook)
— A Balance Sheet shows your assets, liabilities, and net worth.  Be sure to present this in the proper format.  Be sure your balance sheet balances.  Review textbook and lecture notes.  This is one page
— You will need to compute the value of some items based on information in the fact pattern.  Show all of your work and explain how you arrived at the value for every item.  You must show all of your work and provide explanations for all numbers/values.  Be sure you are only including items that should be included on a balance sheet and are not including other items such as expenses which would be included on the Cash Flow Statement.  This should be 1-2 pages.
—  A final page should be an analysis of the balance sheet.  What is net worth?  Is it positive or negative?  What should be the plan moving forward based on this?  This should be one page.
Part Three – Cash Flow Statement – EVERY PLAN WILL INCLUDE A CASH FLOW STATEMENT (Examples of cash flow statements are in the textbook) 
— A Cash Flow Statement shows your income and expenses.  Be sure to present this in the proper format.  This is 1 page
— Be sure to include missing items that would be appropriate for the family you select.  These may include groceries, car costs, entertainment, and other similar items.  Be sure to explain how you arrived at every cost.  Show all your work.  Be sure you are only including items that should be on a cash flow statement and are not including other items such as assets and liabilities which are included on the Balance Sheet.  This should be 1-2 pages
— A final page should be an analysis of the cash flow statement.  Should some expenses be reduced?  Did you compare percentages?  What should be the plan moving forward based on this statement? This should be one page.
Part Four (Three sections) – Recommendations for Three Issues with supporting documentation – There are three sections to this part of the plan:  
1). Section on employment issues;
2). Section for credit issues; and
3). Section on housing issues. 
Show comparisons.  Evaluate costs.  Study issues.   Show your work.  Be thorough.
Each of these sections should include a cover sheet that has the following sentence at the top and a paragraph or two to answer the statement: 
1.) My recommendation for the employment issue is…… (followed by several paragraphs explaining your recommendation and your reasons)
2). My recommendation for the credit issue is…… (followed by several paragraphs explaining your recommendation and your reasons)
3). My recommendation for the housing issue is…… (followed by several paragraphs explaining your recommendation and your reasons)
Then attach all work and supporting documentation that shows how you determined which choice was best and why. 

Following the group project demonstration document that i provided, please make multiple line graphs with excel comparing the expenditure on Research and Development for Philips against its competitors, which are Siemen healthineers, Canon medical systems and medtronic. Please make sure all the dollar amounts are in euros.  Can you please find the data from their annual reports

Assignment (2)
Deadline: Saturday 04/05/2024 @ 23:59
Course Name: Insurance Accounting
Student’s Name:
Course Code: ACCT 424
Student’s ID Number:
Semester: 2nd CRN: Academic Year: 1445 H (2023-2024)
For Instructor’s Use only
Instructor’s Name: Dr. Shahid Husain
Students’ Grade: /15
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY 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 answers 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. Assignment Questions: (Marks 15)
Line of Insurance can further be classified as primary coverage or reinsurance assumed. Primary coverage involves policies written between an insurer and a customer directly. Reinsurance coverage involves the transfer of the insurer’s risk to a reinsurer. Explain the various types of reinsurance in detail. (5 Marks)
Define an Insurance Company as per Federal Income Taxation. State the conditions for an Insurance company to be treated as Tax Exempt. (2 Marks) What are primary methods used to assess guaranty funds assessments for property and liability insurance firms? Explain them. (3 Marks)
Pass the Journal Entries of the following transactions for Takaful Products: (5 Marks)
Contribution made by new the participants SAR 10,000, Contribution made by renewal participants SAR 5000
Commission given to the agent SAR 2000
Portfolio Investment made by Takaful Operators SAR 12,000
Management Expenses incurred For fund manager SAR 3,000
Selling of Investment Assets of worth SAR 8500 sold for SAR 9000

COURSE OUTCOMES COVERED IN MIDTERM:
Analyze and classify accounting information.
Record Journal Entries (debits and credits)
Complete the accounting cycle for a service business.
Prepare bank transactions and learn cash control best practices.
Prepare end-of-period adjusting and closing entries.
Prepare and understand an Income Statement, Statement of Owner’s Equity and the Balance Sheet
1. Record each transaction in the journal using the following chart of accounts. Explanations are required.
2. Post the transactions in the T-accounts.
3. Prepare an unadjusted trial balance as of December 31, 2025.
4. Prepare a worksheet as of December 31, 2025 **MUST DO**
5. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts.
Adjustment data:
a. Accrued Salaries Expense, $800.
b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of five years and a salvage value of $3,000.
c. Prepaid Insurance for the month has expired.
d. Office Supplies on hand, $450.
e. Unearned Revenue earned during the month, $700.
f. Accrued Service Revenue, $450.
6. Prepare an adjusted trial balance as of December 31, 2025.
7. Prepare Murphy Delivery Service’s income statement and statement of owner’s equity for the month ended December 31, 2025, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount—that is, the largest expense first, the smallest expense last.
8. Journalize the closing entries and post to the T-accounts.
9. Prepare a post-closing trial balance as of December 31, 2025.

Berkshire Toy Company
For question 1, you may use the worksheet on CANVAS.
Please note that this assignment is graded based on effort.
1.     (a) Using the information in the case, prepare a flexible budget 1 for the Berkshire Toy Company using the actual product mix (174,965 units from retail and catalog sales, 105,429 units from internet sales, and 45,162 units from wholesale).
(Note: Prepare a flexible budget based on actual units sold multiplied by the static budget prices. Use a budgeted price of $42 for internet sales.)
(b) Using the information in the case, prepare a flexible budget 2 for the Berkshire Toy Company using the budgeted product mix (Note: According to the budget, 85% of the total sales volume come from retail and catalog sales, 0% from internet sales, and 15% from wholesale (refer to the table at the bottom of page 289)).
(c) Conduct the variance analysis by calculating the differences between (1) actual and flexible budget 1, (2) flexible 1 and flexible budget 2, (3) flexible budget 2 and static budget. List the factor(s) that drives the differences identified in (1), (2), and (3).
(d) Using the information in the case, subdivide the flexible budget variance (the difference between actual and flexible budget 1) into the appropriate price (rate or spending) and efficiency (usage or quantity) variances for materials, labor, and variable overhead.
2.     Compute the bonuses earned in fiscal 1998, if any, by David Hall of the purchasing department, Rita Smith of the marketing department, and Bill Wilford of the production department.
3.     Pick one of the managers (Rita Smith, David Hall, or Bill Wilford), and discuss likely explanation(s) behind the observed variances that form the basis of a manager’s compensation. Please use the information provided in the case. (word limit: 300 words)
4.     What do you think about the current incentive compensation plan? How would you improve the incentive plan?  And why? (word limit: 300 words)

Assignment (2)
Deadline: Saturday 04/05/2024 @ 23:59
Course Name: Accounting of Financial Institutions
Student’s Name:
Course Code: ACCT 405
Student’s ID Number:
Semester: 2nd-23-24 CRN: Academic Year: 1445 H (2023-2024)
For Instructor’s Use only
Instructor’s Name: Dr. Ashfaque Ahmed Students’ Grade: /15
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY Submissions WITHOUT THIS COVER PAGE will result in ZERO marks. No other attempt will be given for this reason. 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 answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
Assignment Question(s): (Marks 15)
Choose a Saudi commercial bank and discuss its financial statements structure in light of what we covered in our course. (Minimum of 300 Words) (5 Marks)
Write an in detail essay describing securitizations and how it is used by financial institutions. (Answer should not be less than 200 words) (5 Marks)
Explain the Tabular Format, Sensitivity Approach and Value at Risk Approach in terms of their Strengths and Weaknesses. (Answer should not be less than 150 words) (5 Marks)

Extra Credit Memo
The global pandemic that we are living through is something that businesses, big or small, did not plan for or imagine could happen. Now, many businesses, again both big and small, are having to shut down and face losing normal revenues for the foreseeable future. Many business owners have been faced with having to cut employees pay or lay off employees all together. Small businesses are having to find creative ways remain afloat during this time.
The unknown still lies ahead and business owners do not know how long this will last or the severity of what this will do to their business.
Going forward, businesses will learn to plan for this incase anything like this happens again. Disaster plans for pandemics will become a topic of discussion among top management and lessons will be learned and changes will be made in case there is a “next time.”
You are living through history and this will likely affect the way business conducts themselves in ways we could not have imagined a month ago. Much like the fraud scandals that you will be writing your final memos on, this pandemic will reshape the business world.
For up to 50 points added to your lowest “total grade” (so if your homework total out of 200 is your lowest grade I will add 50 points or if your exam 3 grade out of 200 is lowest I will add 50 points to it, etc.) I want you to write a 2-page memo responding to this crisis businesses find themselves in.
You can complete this memo in many different ways. I have listed some ideas below.
This will be due on the day the final memo is due, May 11, 2024 by 11:00PM.
Topic Ideas:
Put yourself in the place of a small business (grocery store, local restaurant, lawn care company, small boutique, etc.) and write how you would recommend responding to this crisis. You can research what programs have been passed by the Federal Government to help small businesses and use it in your plan of action.
Respond to how this pandemic has affected you from a business standpoint- are you having to work from home, is your business doing live sales on social media, is a restaurant offering delivery or curb side.
Write a “plan of action” for a future crisis that is similar to the one we are in currently. If you were asked to be on the brainstorm team next year to come up with a contingency plan, what would you recommend.

You will only be writing for Goal #1 and Goal #2. From the writing #5 “I can see clearly now” doc you will fulfill Goal #1 which is also attached with instructions and paper expectations for Goal one. And for Goal number #2 you will see the instructions attached below as well. My career goal is become a CPA (Cerified Public Accounting) so please use website listed in Goal #2 to research and answer questions. For any question feel free to send a chat.

LResearch the following 3 questions from a global perspective and prepare a 2-page paper (double-spaced, 1-inch margins, 12-point font) in which you discuss each one of the following questions separately:
How would a multinational company benefit from a decentralized management control system?
What issues would a multinational company face in establishing global-wide performance measurement standards?
What should a multinational company consider when defining its boundary and belief systems?