Assignment 3 Alex LoVerde
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Assignment #3
Alex LoVerde
(My answers are in black, ChatGPT answers are in red
)
1.
Describe basic accounting and finance techniques used by internal management.
Constraint Analysis – Identifies errors in the production of goods and services to help companies run smoothly
Cash Flow Analysis – Studies impact of individual transactions or financial decisions from a company
Capital Budgeting – Analysis of information to make decisions related to capital spending, involves computing the internal rate of return (IBR) and net present value
(NPV) Internal management utilizes basic accounting and finance techniques including budgeting, cost accounting, financial analysis, forecasting, cash flow management, performance measurement, risk management, and capital budgeting. These tools help in planning, controlling expenses, assessing performance, managing cash flow,
mitigating risks, and making informed investment decisions.
2.
Discuss the relationships between manual accounting applications and computerized accounting applications.
Manual accounting is more prone to errors than computerized accounting due to manual data entry, computerized accounting has validation and error-checking.
Manual accounting applications involve traditional paper-based methods, while computerized accounting applications utilize software and digital tools. Computerized systems offer enhanced functionality, real-time reporting, and automated calculations. While many organizations have transitioned to computerized systems for efficiency, some still use a combination of manual and computerized methods. Both systems may coexist, with computerized systems often providing better audit trails and compliance features.
3.
Describe/Define a Trial Balance, how they are used, and how many types there are.
A trial balance is a financial report with consists of credit entries and debit entries used by businesses to internally audit double entry accounting systems.
A trial balance is a financial statement that lists all the ledger accounts with their respective debit or credit balances to ensure that total debits equal total credits. It's
used to check the accuracy of the accounting records and to prepare financial statements. There are two types: the unadjusted trial balance, prepared before
adjusting entries, and the adjusted trial balance, prepared after adjusting entries have been made.
4.
Describe/Discuss the difference between fiscal and calendar years, accrual versus cash-basis accounting.
The difference between accrual vs. cash basis accounting is which tax year your income and expenses are recorded in, and in cash basis accounting your income is recorded when you receive it while in accrual income is recorded when you earn it.
Accrual accounting records revenues and expenses when they're incurred, regardless of when cash exchanges hands, providing a more accurate representation of financial health. Cash-basis accounting, however, records revenues and expenses only when cash is exchanged, offering a simpler but potentially less accurate view of financial performance.
5.
Describe a project backlog
A project backlog is a structured list of deliverables that are a part of a project’s scope.
A project backlog is a prioritized list of tasks or features that need to be completed within a project. It serves as a repository for all pending work and helps teams manage and prioritize tasks effectively.
6.
Discuss the difference between SQL and SQL-Lite.
SQL-Lite is a serverless database management system which can be embedded into
the application, while SQL is a client-server database system that consists of a database sever and client applications that connect to it.
SQL (Structured Query Language) is a standard language used for managing and manipulating relational databases. SQLite is a specific implementation of SQL that is
lightweight, self-contained, and serverless, meaning it doesn't require a separate server process to function. While both use SQL for querying and managing data, SQLite is primarily designed for embedded systems and local storage, whereas SQL can be used in a wide range of database management systems including MySQL, PostgreSQL, and Microsoft SQL Server.
7.
Discuss the Agile (Safe) and the key components - roles, key terms, methodology.
Scaled Agile Framework (SAFe) is a set of organizational and workflow patterns that implement agile practices at an enterprise scale. SAFe promotes collaboration, alignment, and delivery across large numbers of team, and was formed around agile
software development, lean product development, and systems thinking. Core values of SAFe include alignment, built-in quality, transparency, program execution, and leadership.
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Related Questions
Only typing answer
Please explain step by step without table and graph thankyou
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Styles
Editing
QUESTION TWO
Voice
Sensitivity
Editor
Rem
Selamat Islamic Bank Berhad (SIBB) just announced its financial report for the year ended
2016. Table below is a summary of CIBB's financial report.
(a)
Items
RM (000)
Income Statement
Operating Revenue
Net Income
Expenses
Profit after tax and zakat
3,662,444
1,540,333
700,343
543,443
Statement of Financial Position
Current Asset
Current Liability- Demand deposit
Total Debt
Total Assets
4,332,300
10,635,054
42,091,092
45,620,442
3,729,590
Total Equity Capital
Evaluate SIBB's performance based on the following financial ratios and explain what each
ratio means.
i.
The capability of management in converting assets into net earnings.
i.
The effectiveness of management to control cost, expenses and service price
O Focus
目
(United Kingdom)
ENC
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Ay 4
You are briefed about a business plan to launch a new product by your own company. As financial experts, you are being requested to identify all possible cashflows and to estimate strength of each cashflow. Please present your estimation of cashflow. In case of any facts based on market research, please make your own assumption and highlight the same. You are advised to use BMC.
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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all workin
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Q 1.3: Which of the following reports would be prepared by a managerial accountant?
A
statement of cash flows
costs by product line
income statement
balance sheet
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What support does Finance teams need to give a customer-oriented company
a. Link size of client to customer value
b. Not interfere in any activity
c. Pricing, taxation and collection data
d. Pay salaries on time
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Financial Modeling Practices
Financial modeling professionals typically break their work down into modular steps
for ease and transparency, before linking everything back to the three core financial
statements.
Corkscrew schedules are primarily used to support calculations for which financial
statement?
Cash Flow Statement
Income Statement
Statement of Operations
Balance Sheet
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I wnt answer tutor
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3. ____is the result of profit margin × total asset turnover × (total assets/shareholders’ equity)
A. return on equity B. return on investment C. current ratio D. quick ratio
Just answer...
4. 5. Which of the following items is the function of a treasurer? ____
A. cost accounting
B. internal control
C. capital budgeting
D. general ledger
Just answer.
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Select all that is true about the role of financial managers and the types of financial decisions they make.
a.
Capital Budgeting function involves planning and determining the firm’s short term investments.
b.
Determining the appropriate level of inventory is a working capital management function.
c.
The duties of the financial manager includes determining the capital structure and which projects the firm should undertake.
d.
Capital structure describes the mix of short-term liabilities a firm uses to finance its short-term assets.
e.
The optimal financial management strategy of a financial manager is to reduce the overall risk level of the firm.
f.
Size and timing of cash flows is unimportant in a capital budgeting decision.
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Sub:-Accounting
What is the role of management accountants in capital budgeting and investment decisions?
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Title: Financial Metrics Self-Assessment
Objective: To evaluate your understanding of financial metrics used to evaluate business performance.
Instructions:
Review the following financial metrics: Return on Investment (ROI)
Residual Income
Profit Margin
Asset Turnover
Minimum Required Income
For each financial metric, answer the following questions: ● Whatisthedefinitionofthefinancialmetric?
● Howisitcalculated?
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The ultimate goal of the financial system in a market economy is to
make the price of financial assets correctly reflect their true value (informational
efficiency)
achieve the financial equality among different people and organizations
make the costs of financial transactions as low as possible (operational efficiency)
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addresses the question of where money is raised to finance business
activities.
O Capital budgeting
O Capital structure
O working capital management
O Accounts receivable management
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FE6
(a) Explain how financial ratio analysis of a firm’s projected cash flow budget could be efficiently used by its managers for financial planning.
(b) Explain why creating budgets and other financial planning is an important part of business planning.
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The users of financial information can understand the strength and weakness of the business concern with the help of:
a.Profit and loss account
b.Balance Sheet
c.Statement of cash flows
d.Profit and loss appropriation account
*Repy fast plz***
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Which of the following BEST describes Financial Condition Analysis (FCA)?
Group of answer choices
it mainly uses financial information in analysis
it is a daily assessment of financial performance
it evaluates the costs and benefits of financial analysis
it assesses the impact of socioeconomic/organizational factors on financial condition
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Below you have the three types of financial management decisions. Match each type of decision to a business transaction that would be relevant.
Capital budgeting
A. Deciding whether to issue new equity and use the proceeds to retire outstanding debt
Capital structure
B. Deciding whether to expand a manufacturing plant
Working capital management
C. Modifying the firm's credit collection policy with its customers
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The area of finance address the issue of the efficiency of financial market in the allocation of recourses is known as:
Corporate finance;
Public finance:
International finance;
2. A level of revenues, expenses and profit that occurred during a given accounting period are given in:
Balance sheet;
Income statement;
A+B
3. Sales minus cost of goods sold is:
Net profit;
Operating profit;
Gross profit;
4. The assets defined as cash and assets that will turn into cash within a year are defined as:
Current assets;
Non current assets;
Fixed assets:
5. The liabilities due within a year are defined as:
Current liabilities;
Expenses:
Non current liabilities;
6. Collecting of receivables and liquidation of assets concerns:
Sources of funds;
Uses of funds;
Revenues:
7. Uses of funds are:
Increase in a liability account and increase in an asset account;
Payment of dividends and decrease in asset account;
Increase in an asset account and payment of dividends;
8. New bank loan can be…
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1. Describe the two of the asset categories in working capital. 2. Why is working capital so important?3. A growing business typically has cash flow problems because profits tend to be reinvested back into the business. Describe how you would solve that.4. What role does inventory management play in an overall business plan and describe the benefits of just in time inventory management.5. Describe one of the methods for managing cash disbursements or cash receipts and how it impacts profitability.
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asap
define cash flow activities used in Business.
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Financial management involves:
a. managing accounts receivable in the short-run and financing long-term projects in the long-run.
b. preparing external financial documents and verifying their accuracy to the public.
c. optimizing inventory and selling owner equity in the short-run.
d. planning for capital projects in the short-run and managing cash flow in the long-run.
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Interview with an industry professional: Use of Cashflow statements
In this task, you will interview a finance professional with work experience in retail or manufacturing units and ask them the following questions about the significance of cash flow statements:
The significance of maintaining optimum cash balances
The role of inventory management on cash flow activities
Impact on long-term planning
Write their responses and your takeaways from this conversation in the third output of this component, ‘Interview with an industry professional: Use of Cashflow statements.
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SEE MORE QUESTIONS
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Century 21 Accounting Multicolumn Journal
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Related Questions
- Only typing answer Please explain step by step without table and graph thankyouarrow_forwardStyles Editing QUESTION TWO Voice Sensitivity Editor Rem Selamat Islamic Bank Berhad (SIBB) just announced its financial report for the year ended 2016. Table below is a summary of CIBB's financial report. (a) Items RM (000) Income Statement Operating Revenue Net Income Expenses Profit after tax and zakat 3,662,444 1,540,333 700,343 543,443 Statement of Financial Position Current Asset Current Liability- Demand deposit Total Debt Total Assets 4,332,300 10,635,054 42,091,092 45,620,442 3,729,590 Total Equity Capital Evaluate SIBB's performance based on the following financial ratios and explain what each ratio means. i. The capability of management in converting assets into net earnings. i. The effectiveness of management to control cost, expenses and service price O Focus 目 (United Kingdom) ENCarrow_forwardAy 4 You are briefed about a business plan to launch a new product by your own company. As financial experts, you are being requested to identify all possible cashflows and to estimate strength of each cashflow. Please present your estimation of cashflow. In case of any facts based on market research, please make your own assumption and highlight the same. You are advised to use BMC.arrow_forward
- help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all workinarrow_forwardQ 1.3: Which of the following reports would be prepared by a managerial accountant? A statement of cash flows costs by product line income statement balance sheetarrow_forwardWhat support does Finance teams need to give a customer-oriented company a. Link size of client to customer value b. Not interfere in any activity c. Pricing, taxation and collection data d. Pay salaries on timearrow_forward
- Financial Modeling Practices Financial modeling professionals typically break their work down into modular steps for ease and transparency, before linking everything back to the three core financial statements. Corkscrew schedules are primarily used to support calculations for which financial statement? Cash Flow Statement Income Statement Statement of Operations Balance Sheetarrow_forwardI wnt answer tutorarrow_forward3. ____is the result of profit margin × total asset turnover × (total assets/shareholders’ equity) A. return on equity B. return on investment C. current ratio D. quick ratio Just answer... 4. 5. Which of the following items is the function of a treasurer? ____ A. cost accounting B. internal control C. capital budgeting D. general ledger Just answer.arrow_forward
- Select all that is true about the role of financial managers and the types of financial decisions they make. a. Capital Budgeting function involves planning and determining the firm’s short term investments. b. Determining the appropriate level of inventory is a working capital management function. c. The duties of the financial manager includes determining the capital structure and which projects the firm should undertake. d. Capital structure describes the mix of short-term liabilities a firm uses to finance its short-term assets. e. The optimal financial management strategy of a financial manager is to reduce the overall risk level of the firm. f. Size and timing of cash flows is unimportant in a capital budgeting decision.arrow_forwardSub:-Accounting What is the role of management accountants in capital budgeting and investment decisions?arrow_forwardTitle: Financial Metrics Self-Assessment Objective: To evaluate your understanding of financial metrics used to evaluate business performance. Instructions: Review the following financial metrics: Return on Investment (ROI) Residual Income Profit Margin Asset Turnover Minimum Required Income For each financial metric, answer the following questions: ● Whatisthedefinitionofthefinancialmetric? ● Howisitcalculated?arrow_forward
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Recommended textbooks for you
- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage LearningCentury 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:Cengage
- Principles of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax CollegeIntermediate Financial Management (MindTap Course...FinanceISBN:9781337395083Author:Eugene F. Brigham, Phillip R. DavesPublisher:Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:9781337679503
Author:Gilbertson
Publisher:Cengage
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Intermediate Financial Management (MindTap Course...
Finance
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Cengage Learning