IV. Adjusting Entries: For this part of the assessment, you will continue your financial analysis paper.
A. Explain the type of depreciation method your company uses and why it uses this method.
B. Identify an example of an adjusting entry( other than depreciation) such as prepaid expenses, supplies, or unearned revenue and whether or not your company has this account listed on the balance sheet. You could consider why this might not be listed
V. Financial Analysis: For this part of the assessment, you will prepare spreadsheets and analysis to be included in your financial analysis paper.
A. Prepare an Excel spreadsheet to compare financial ratios for your company to the industry averages.
B. Compose a summation as to how your company is performing in relation to its competitors. Be sure to base your answer on the spreadsheet you previously prepared.
VI. Communication: For this part of the assessment, you will prepare memorandums to upper management addressing certain scenarios or situations.
A. As the controller of your chosen company, compose a memo to the CEO addressing the advantages and disadvantages of transitioning from GAAP to IFRS.
B. As the controller of your chosen company, compose a memo to the CEO addressing the following scenario: Your largest customer has just gone bankrupt, and you must inform the CEO how this will affect your accounts receivable. Assume that the accounts receivable balance is at least $ 100,000.
VII. Financial Report: For this part of the assessment, you will prepare a financial report in response to a hypothetical scenario: A major global disaster( in this case an oil spill) has caused environmental damage and has affected global transportation as well. As the