Termination of the Election. Orlando Corporation, a calendar year taxpayer, has been an S corporation for several years. On July 10, 2009, Orlando authorizes a second class of nonvoting preferred stock that pays a 10% annual dividend. The corporation issues the stock to Sid on September 12, 2009, to raise additional equity capital. Sid owns no other Orlando stock. a. Does Orlando’s S election terminate? If so, when is the termination effective? b. What tax returns must Orlando file for 2009? When are they due? c. How would your answer to Parts a and b change if instead the second class of stock were nonvoting Class B common stock?

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Focus of the Final Paper Due to varying business characteristics, the managerial accounting techniques applied in each business may differ.  For example, a business in the start-up phase may rely heavily upon budgeting and capital investment techniques; whereas, a business in the mature/maintaining phase may rely heavily upon cost management and quality control.  Ultimately, the techniques used by management should assist the business in achieving its short-term and long-term goals through effective decision-making. For your Final Paper, you will analyze the role of managerial accounting in two parts.  Part I will provide a general overview of managerial accounting.  Part II will provide examples of how managerial accounting theories and principles are applied in the business world.  You may find it helpful to reflect upon your own professional experiences for examples.  Part I (Three to four double-spaced pages) Present the following: Definition of managerial accounting Role of managerial accounting and the management accountant in a business or organization Ethical issues/concerns for the management accountant General description of at least three managerial accounting techniques available and their application within a business or organization Part II (Four to six double-spaced pages) Select at least three of the five topics identified below: Cost Management Techniques Costing Methods Capital Investment Decision Techniques Budgeting Quality Control For each topic selected present real world examples of the application of managerial accounting techniques within a business or organization.  Examples may be gathered from your own professional experiences or from case studies obtained from credible sources (excluding textbook examples explored in previous weeks).  Presentation of each example should include how a managerial accounting technique was applied in the business or organization’s decision-making model.  Be sure to support your example with calculations when applicable.