Get help for Davenport-University ACCT 201 Homework Help. Accounting is described as “the language of business”. Explain what this phrase means to you. In your response, please also select a business and provide two (2) examples of accounting functions for the business you choose. Please do not select a business that another student has already profiled in their post. Explain what is meant by the terms “Debit” and “Credit”. Conduct some brief external research on the Internet and explain to us the historical evolution of these terms. Be sure to cite your references. Select a small business that you might like to start and tell us how you might structure your Chart of Accounts. Please do not profile a small business that another student has selected. Assume that you are a consultant to a small business. Conduct some brief external research on the Internet and prepare a short memo to the President of the business with your recommendation for a computerized accounting software program.
What type of business is this and why are you recommending this particular software program? Explain the features of the program and the benefits of the software to the President of the company in your memorandum. Please do not select a small business that another student has already profiled in their post. Select a company and visit the website of the business. Locate the income statement for the company (this most likely can be found under a tab titled, “Investor Relations” and then look for the comprehensive financial statements). Calculate the Ratio of Sales to Assets for the company you chose and interpret the result in your post. In your opinion, is the company performing well in this category? If not, what changes can you recommend that will improve this ratio for the company/ Please do not select a business that another student has already profiled in their post. Select a company that sells inventory and visit the website of the business.
In your post, tell us if the company is using FIFO, LIFO, average cost or specific identification as their inventory costing system. Calculate the Inventory Turnover ratio and the Number of Days’ Sales in Inventory ratio for the business that you chose. In your opinion, how is the company performing with regard to these two ratios? What, if anything, can the company do to perform better in these two categories? Please do not select a business that another student has already profiled in their post. Assume that you are a consultant to a small business. The President of the business does not have an accounting background and has asked your assistance in establishing internal controls for the company. Conduct some brief external research on the Internet and prepare a short memo to the President with your recommendations concerning internal controls; in your memorandum, cite at least three (3) internal controls that you recommend for this business. Be sure to explain what the type of business is in your memorandum. Please do not select a business that another student has already profiled in their post. Discuss why companies sell their receivables. Is this a strategy that you recommend, and if so, why? In your post, please also discuss the advantages of a retailer accepting both their own credit card as well as national credit cards. Is there any disadvantage to doing so, and if so, what is the disadvantage? Distinguish between revenue expenditures and capital expenditures. Select a company and indicate two (2) examples of revenue expenditures for that business and two (2) examples of capital expenditures. Please do not select a business that another student has already profiled in their post.
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