Description
PART 1
•Please identify four of the financial statements a for-profit organization will compile, define them, and then describe how they interact with each other.
•Write a 2 page paper explaining how it works.
PART 2 NO WORD LENGTH JUST ANSWER QUESTIONS
1.You own Widgets ‘R Us and are preparing your year-end financial statements: What inventory accounting method do you use and why (FIFO, LIFO, or Weighted-Average)? What are its advantages and disadvantages?
2.You own Widgets ‘R Us and are preparing your year-end financial statements: What activities should you perform to correctly account for your inventory at year-end?
3.You own Widgets ‘R Us and are preparing your year-end financial statements: Why is it important to track inventory? What does this information tell you about your business?
PART 3 NO WORD LENGTH JUST ANSWER QUESTIONS
•Answer the following question: What is meant by the net realizable value for accounts receivable?
•Answer the following question: What is aging of accounts receivable, and how is it used to account for uncollectible accounts?
•Answer the following question: How is the accounts receivable turnover computed? What information does this ratio provide?
•Answer the following question: Describe what is meant by the term "goodwill."
PART 4 NO WORD LENGTH JUST ANSWER QUESTIONS
•What is a CPA, CMA, and a CFA?
•What careers are available to those who go into the accounting profession?
PART 5
This week we learned about the presidency, the powers of the presidency, and the unique way our president is elected via the Electoral College. In this assignment you will be guided in creating a complete argument regarding whether or not you think the Electoral College should be kept or eliminated.
This activity will be useful practice in how to create and present and thoughtful argument. The ability to create and communicate a thoughtful argument will help you out in future studies and in any career.
Your essay must be at least 500 words long.
Follow these steps to create an argument in the form of an essay:
Step 1: In one or two very clear sentences state whether or not you think the Electoral College should be kept or eliminated. This is called writing a thesis statement.
Step 2: In three paragraphs describing three (3) arguments that support your position regarding the Electoral College. Give each argument one paragraph. Do not just list three arguments in support of your position regarding the Electoral College. You must tell the reader why each of your three arguments supports your position on the Electoral College.
Step 3: In three paragraphs describe three (3) arguments that go against your position regarding the Electoral College. This is called addressing counterarguments. Give each counterargument one paragraph. Describe the counterargument and then tell the reader of your essay why that counterargument should be dismissed.
Step 4: Write one paragraph concluding your essay. Restate your initial position on the Electoral College. And review the one or two arguments that you found to be the most compelling in support of your position.
Step 5: Write a reference list. In any good argument you will present your ideas but then include evidence from credible external sources to support your ideas. Always include a reference list.
In outline form your paper should look like this.
1.Introduction: Thesis statement of your position regarding the Electoral College.
2.Three arguments supporting your position. 1.Describe argument 1 and why it supports your position.
2.Describe argument 2 and why it supports your position.
3.Describe argument 3 and why it supports your position.
3.Three counter arguments opposing your position. 1.Describe counter argument 1 and why it is not sufficient.
2.Describe counter argument 2 and why it is not sufficient.
3.Describe counter argument 3 and why it is not sufficient.
4.Conclusion paragraph.
Please note: APA formatting and citations rules apply to this and all essays in this course.
As with all weekly written assignments, submit your work as an attached file. Double-space your paper and use 12 point Times New Roman as your font.
PART 6
Supreme Court Ruling Analysis
The Supreme Court is made up of nine justices who are responsible for deciding whether or not laws are in line with the U.S. Constitution. These individuals serve life-long appointments once they are nominated by the President and confirmed by the United States Senate. Below is a list of some of the most controversial decisions in the last few decades by the Supreme Court. These cases are often mentioned by politicians during campaigns because the issues are still debated, even after the Supreme Court’s ruling.
Write an essay analyzing one of the following key Supreme Court rulings:
•National Federation of Independent Businesses v. Sebelius: https://www.oyez.org/cases/2011/11-393?page=3
•District of Columbia v. Heller: http://www.oyez.org/cases/2000-2009/2007/2007_07_2...
•Roe v. Wade (abortion rights): http://www.oyez.org/cases/1970-1979/1971/1971_70_1...
•Citizens United v. Federal Election Commission: http://www.oyez.org/cases/2000-2009/2008/2008_08_2...
•Obergefell v. Hodges: https://www.oyez.org/cases/2014/14-556
Your essay must be at least 500 words long.
Answer these questions to complete your analysis of your selected Supreme Court ruling.
•Tell the reader which of the five key Supreme Court ruling you selected to analyze.
•What was the law being challenged in the case?
•Tell me any of the states or government entities that were part of the case.
•Who was the Petitioner in the Case?
•What was the Petitioner’s argument?
•Who was Respondent?
•What was the Respondent’s argument?
•What part or parts of the Constitution were discussed in the case?
•Why were those parts of the Constitution discussed in the case?
•What was the final Supreme Court ruling by
◦What was the final score of the case was (for example 5 to 4 or 7 to 2 or some other combo that, in most cases, adds up to 9)
◦What was the date that the case was decided?
◦Which side won, was it the petitioner or the respondent?
◦What did it mean that this particular side won?
•This is the most important part of the assignment: how does this case currently impact your life and the lives of Americans? Explore the political and electoral consequences of the ruling. Don’t just say, for example in the case of Roe v. Wade, women can now have abortions because only a small percent of the population is of childbearing potential – how did the case impact everyone else more generally? Think about how even this current or most recent presidential election was impacted by the ruling you have analyzed.
•Provide a reference list.
Please note: APA formatting and citations rules apply to this and all essays in this course.
As with all weekly written assignments, submit your work as an attached file. Double-space your paper and use 12 point Times New Roman as your font.
PART 7
This week we learned about the important functions of political parties. You also had the opportunity to browse the Democratic and Republican Party platforms for your reading. In this activity, pretend you are in charge of inventing your own original political party and write a platform for your brand new political party.
Your platform and reflection essay should be at least 500 words long and address the following:
Part 1 - Your Platform
•Name your party.
•Identify and describe one domestic policy that your party would believe in. Give a paragraph description of that domestic policy. Be very detailed and specific in your description. (Domestic policy is anything that impacts how we live our lives within the borders of our nation.)
•Identify and describe one specific economic policy that your party would believe in. Give a paragraph description of that economic policy. Be very detailed and specific in your description. (Economic policy is all those policies that impact the distribution and exchange of property, wealth, and capital. Think about things that impact money and how much you have and how you can make more.)
•Identify and describe one specific foreign policy that your party would believe in. Give a paragraph description of that foreign policy. Be very detailed and specific in your description. (Foreign policy is how this nation interacts with other nations.)
Part 2 - Reflection Essay
Write an essay in which you compare and contrast each of your three policies, one at a time, to similar policies from the platforms of the Democratic and Republican parties. How are your policies similar to the policies of the two major parties? How your policies different from the policies of the two major parties? Be specific and include specific examples. Conclude your comparison and contrast essay by discussing which of the two major parties your political party most similar to?
Don’t forget to include a reference list.
Please note: APA formatting and citations rules apply to this and all essays in this course.
PART 8
Interest Group Consultant Simulation
In this activity you will be pretending to be a consultant for an interest group. You will be charged with helping that interest group better achieve its goals. Have fun and be creative in this activity!
Your paper should be at least 500 words long.
•First, select an interest group from the following list that you will be consulting for (*you may only complete this assignment on one the listed interest groups):
◦Service Employees International Union
◦National Association of Realtors
◦US Chamber of Commerce
◦National Rifle Association
◦National Education Association
◦American Federation of State, County, and Municipal Employees
◦AARP
◦National Association of Broadcasters
•In the first sentence of your paper please state very clearly what interest group you have selected.
•Next, describe in your own words, what your selected interest group mission is. Do not copy and paste or quote the organization’s mission in your paper. Use your own words.
•Next, take that mission statement and rewrite it in a new short one sentence “elevator pitch” that you think would be more effective. Feel free to get creative.
•Look up your selected interest groups website. What is the web address? What do you like about their website? What do you think could be improved about their website?
•Look up your selected interest group on social media. What is good about their social media presence? What could be improved about their social media presence?
•Look up your selected interest group on OpenSecrets or the Federal Elections Commission website and discuss your findings. How much money does your interest group have? What is that money being spent on? In your opinion, are they using their money effectively? How could they spend their money to better accomplish their goals?
•Come up with at least one completely original idea that could be use to improve your selected interest groups efforts. Describe this idea in detail. What specific goal would this idea seek to accomplish? What types of resources would this idea need. How would this idea improve the organization’s efforts to achieve its mission.
•Finally, be sure to provide a reference list.
Please note: APA formatting and citations rules apply to this and all essays in this course.
Explanation & Answer
Attached.
Running Head: PART 1
1
Part 1
Name
Institutional Affiliation
FINANCE AND GOVERNMENT
2
PART 1
Any organization that is for a profit keeps its financial statements for analysis of the
financial results for its company. The four major financial statements for any business are
income statement, statement of cash flows, balance sheet and statement of retained earnings.
Firstly, the income statement is a financial book that provides the business with data on
revenues, profits, the losses, the expenses and also the reports that have been generated for a
period of time. This financial statement is considered as one of the most important to all other
financial statements. This is because it presents the operating results to the business entity.
Secondly, the balance sheet is also another financial statement that provides a reporting
of the financial position of a business entity. The information attained from the financial
position of the business provides the specific information that is summed into the classifications
of equity, liabilities and assets. These classifications are provided in the order of liquidity and
show the financial reporting of the business. The sales revenue and the income that has been
achieved in the business are always maintained to ensure that the business has performed in a
better way (Hove, 2006).
The cash flows statement provides a reporting of the inflows and the outflows of
cash in the organization. These cash flows are provided in the classifications of investing, The
cash flows statement is divided into three activities which include the financial activities, the
investing activities and the operating activities. This document provides general assessment of
the business and ensures that the reports of the business have been adequately documented. This
is what helps to ensure that the business has improved while at the same time ensuring that all
the parties in such a business has been presented. The primary activities in that business include
FINANCE AND GOVERNMENT
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the payments that have been made and the cash that has been received in the business. In order
for the business to repay the share and debt capital, there is always a need to have payments of
interest to ensure that the business has performed in a better manner (Kwok, 2005).
The statement of changes in equity provides the documentation of all the necessary
changes that can be achieved in equity performance in a given period. These changes usually
include the profits and losses, the dividends issued and the purchase of the shares. This document
is one in which all the statements are issued on an internal basis. One of the major effects of this
statement include the net profits and the loss that has been reported on a specific period, the
issued share capital and also the dividends that have been paid on the business. Any significant
changes that have been achieved on the accounting policy and the errors of accounting are also
reflected within the financial statements. These changes are easily noticed when there is gains
and losses in the business (Hove, 2006).
The above financial statements usually represent the formal relationships of the finance
activities on an entity. They are often written with an aim to reflect on the financial effects that a
business has on the transactions of that entity (Kwok, 2005).
FINANCE AND GOVERNMENT
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References
Hove, M. R. (2006). Consolidated financial statements: An international perspective. Cape
Town, South Africa: Juta.
Kwok, B. K. B. (2005). Accounting irregularities in financial statements: A definitive guide for
litigators, auditors, and fraud investigators. Aldershot, Hants, England: Ashgate.
Attached.
Running Head: FINANCE AND GOVERNMENT PART 3
Finance and Government Part 3
Name
Institutional Affiliation
1
FINANCE AND GOVERNMENT PART 3
2
Question 1
In accounts receivable, the net realizable value is described as the sum of the accounts
receivables minus the bad debt balance.
Question 2
In accounts receivable, the aging is described as a report that provides the list of all unpaid
invoices from customers. There are also unused memos for credit that often ranges from different
dates. This report is used as the basic tool that can be used by people to ensure that invoices
have been overdue for their payment (Hove, 2006).
Question 3
The turnover that is achieved in the accounts receivable can be computed by dividing the net
value of all the credit sales in a given time period through their average accounts receivable in
the same time.
Question 4
Good will can be described as the consideration that is achieved after the acquisition of
an entity or a building. This helps to ensure that the consideration has been transferred from one
person to another (Hove, 2006).
FINANCE AND GOVERNMENT PART 3
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References
Hove, M. R. (2006). Consolidated financial statements: An international perspective. Cape
Town, South Africa: Juta.
Running Head: FINANCE AND GOVERNMENT PART 2
Finance and Government Part 2
Name
Institutional Affiliation
1
FINANCE AND GOVERNMENT PART 2
2
1. I prefer to use FIFO as a measure of inventory accounting. FIFO or the first in first out
valuation process has the following advantages and disadvantages for any business
organization that makes profits. Basically, FIFO makes it impossible to manipulate the
income that has been reported finance documentation.. Secondly, FIFO is a widely
accepted and used a...
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