Get help for Strayer-University ACC-100. • Explain The Major Advantages Of A Business Owner With Minimal Accounting Experience Maintaining The Company’s Book. Then Explain The Disadvantages. • Analyze The Major Impact To The Users Of Accounting Statements If The Statements Are Prepared In Error. • Provide Support For Your Position. • In your own words, explain the recording process and the accounting equation to someone who has no accounting experience. • Then, give your opinion on the elements or areas that might cause the most confusion or be the most difficult to grasp. • Provide support for your conclusion. • Based on the video, explain two (2) advantages and two (2) disadvantages in using both the cash and the accrual basis of accounting. • Then, determine the one (1) that you believe provides the most useful financial information to users. • Identify at least two (2) types of businesses that would benefit by preparing financial statements using either the cash or accrual basis of accounting. • Identify and discuss the key steps in the closing process that provide the most opportunity to make mistakes in processing account transactions. Why did you select these steps and what makes them confusing?
• Make at least two (2) recommendations for improving the accuracy and reliability of the information in the gaps that you have identified. • Justify your response. • Explain how Cole Hardware used technology to manage inventory and identify at least two (2) benefits of the use of this technology by the company. • Use the Internet to research the annual report of at least one (1) merchandising company. ], or weighted average cost) that is used to record inventory by your selected company. • Identify the three (3) primary advantages and three (3) primary disadvantages of using the costing method (LIFO, FIFO, and weighted average) that is used to record inventory. • Imagine you are a consultant hired to convert a manual accounting system to an automated system. • Suggest the key advantages and disadvantages of automating a manual accounting system. • Identify the most important step in the conversion process.
• Provide a rationale for your response. • Employee theft is a major problem in the U.S. • Analyzing the information contained in the video, identify at least four (4) internal controls effective in mitigating employee theft and / or fraud. • Provide at least two (2) examples of internal controls that could be implemented to reduce theft in the U.S. • Provide support for your answer. • Based on the information in the video, discuss the primary advantages and disadvantages of applying the direct write-off over the allowance method of writing off accounts. Take a position on whether or not estimating the allowance for doubtful accounts provides the opportunity to distorts gross income. • Provide support for your rationale. • Use the Internet to research an annual report of a retail company. • Then, imagine you are an investor or creditor; suggest the ratios that you believe would provide an investor or creditor with the most important information needed to make accurate predictions about the company’s financial condition. When analyzing a company, is it more important to compare the ratios to competitors or to the company’s previous history? • Provide a rationale for your response.
On the other hand, if one needs to observe child-mother interactions, one would resort to non-participative observations looking from a one-way mirror to note verbal or non-verbal cues being given by the mother and the child. In a survey, usually general questions are asked to know what customers or subjects do and think. But it one wants to know ‘why they feel that way’, one has to conduct an in-depth research. In survey, answers may depend on the mood of the respondent. As such, the survey shows how one feels at one particular time. A group is formed of 8 to 12 persons. They are selected keeping in view the targeted market. Questions are asked in an interactive-group-setting where members are free to talk to each other. A moderator guides through the discussion. Through one-way mirror, the client or its representative observes the discussion, interpret facial expression and body language. There are some draw-backs. There is lesser control of the moderator or researcher and it lead to irrelevant discussions.