the book is Systems Understanding Aid 9th editionAfter the Systems Understanding Aid (SUA) is completed and graded, it is yours to keep and use for future reference. You should mark all parts of the materials as you consider appropriate, except for journals, ledgers and documents. These will be handed in for grading and should include only the information stated in the Aid requirements. It is suggested that journals, ledgers, documents and schedules be neatly prepared in pencil to facilitate corrections. Any type of paper can be used for schedules as long as they are neatly prepared and can be easily read. The penalty for unexcused late assignments is 50% of the maximum points.REFERENCE BOOKCHAPTERINSTRUCTIONS,FLOWCHARTSAND LEDGERS BOOKHAND-IN*1 & 23PART 1You are following Option 1 on pages 10 and 11 of the Instructions, Flowcharts and Ledgers book.Read Introductory information, pages 3-12, 16 and scan 25-43. Scan through all documents in the Documents Folder. Your instructor will tell you which version of Document No. 1 to use – blue or green. Destroy the other version.Carefully read Option 1, page 10.Go through all transactions on the transactions list (Document No. 1) and write S & CR, P & CD, or PR beside each transaction as follows:$ Sale, sales return, cash receipt, or charge-off (S & CR)$ Purchase of goods or services or cash disbursement, except for payroll (P & CD)$ Payroll (PR)Every transaction must be identified as one of these three types.Sales and Cash ReceiptsStudy flowcharts on pages 18-21.Complete the seven-step process for recording a transaction on pages 11 and 12 for all sales and cash receipts transactions on the transactions list.Complete WAREN'S MONTH-END PROCEDURES 1, 2, 5, 6, and 7 on pages 12 and 13 for sales and cash receipts only.Complete WAREN'S YEAR-END PROCEDURE 6 on page 15 (accounts receivable aged trial balance only using an excel spreadsheet. Make sure this spreadsheet is uploaded separately or included as a worksheet tab with your electronic worksheet and financial statements that you will hand in at the end of the whole assignment.)Due: ____________________________Schedules showing balances in the following general ledger accounts: 10100, 10200, 10300, 30100, 30200, 30300.Accounts receivable aged trial balance.Sales and cash receipts journals, finalized.4 & 6PART 2Purchases and Cash DisbursementsStudy flowcharts on pages 22 and 23.Complete the seven-step process for recording a transaction on pages 11 and 12 for purchases and cash disbursements on the transactions list.Complete WAREN'S MONTH-END PROCEDURES 1, 2, 5 and 6 on pages 12 and 13 for purchases and cash disbursements only.Complete WAREN'S YEAR-END PROCEDURE 6 on page 15 (accounts payable and fixed asset trial balances only).Due:Schedules showing balances in the following general ledger accounts: 10100, 10800, 20100, 30500, 30600, 30700, 30800, 40200, 40300, and 41000.Accounts payable and fixed asset trial balances.Purchases and cash disbursements journals, finalized.5PART 3Payroll and Month-end ProceduresStudy flowchart on page 24.Complete the seven-step process for recording a transaction on pages 11-12 for all payroll transactions on the transactions list.Complete all WAREN'S MONTH-END PROCEDURES on pages 12 and 13 not yet completed.Due:Payroll journal, finalized.1PART 4Year-end Procedures and Completing the ProjectComplete all WAREN'S YEAR-END PROCEDURES on pages 13 through 15 not yet completed.For the worksheet and financial statements, do the Electronic Spreadsheet assignment. Even though you have adjusting entries in the electronic worksheet, you must still write in the adjusting journal entries into the general journal and post them to the general ledger accounts by hand.Do WRAPPING UP on page 15.DO not forget to do closing entries in the general journal and post the to the general ledger accounts. Remember close (zero out) all revenue, expense, dividend accounts. The offsetting amounts increase or decrease retained earnings.Do WRAPPING UP on page 15.Due:Entire project including all schedules, ledgers, journals, and filed documents and records.Exception: Do not turn in Reference book.*All documents and records are to be filed following the instructions on the front of the Documents Folder.You don't have to do the Electronic Spreadsheet assignment

"Push-down Accounting and the Recording of Both Tangible Assets and Intangible Assets" Imagine  you are the chief financial officer (CFO) of a corporation with plans  to complete the acquisition of a key subsidiary during the current year.  Your chief executive officer (CEO) has requested a presentation to the  Board of Directors describing the methods available to account for the  acquisition internally and the best method for the company during the  acquisition year.  Please assess the value of each method identified in  your presentation to the Board and support your recommendation with  examples.    Compare  the key differences between the U.S. GAAP and IFRS positions on both  intangible research and development costs and tangible depreciable  assets. Indicate the key benefits and drawbacks to financial statement  users of each method (U.S. GAAP and IFRS). Next, determine the method  that provides the most relevant information to financial statement  users. Provide support for your rationale.