You are required to complete all questions, in the same sequence as listed below, and submit all necessary workings. Follow the assignment requirements (refer below to the Requirements section above) very closely.
Content assessed
Topic 5, 6, 7, 8, 9, and 10: internal control and cash, introduction to management accounting, cost-volume-profit analysis, relevant information and special decisions, budgeting, capital budgeting.
Question 1 Internal Control
See Reading 5 (Horngren C.T. Harrison W.T. & Oliver M.S., 2012, Internal control and cash. Accounting 9th ed, ch 7, pp 355-403. Pearson) in the learning materials within Interact2 or in CSU library resources.
Define internal control. Outline 4 components of internal control from the reading. Give examples of each.
Question 2 Bank Reconciliation
A. How can the bank reconciliation be used as a control device?
B. Create a spreadsheet model to show a bank reconciliation statement. Use the Baylor Associates example in Reading 5 (Horngren C.T. Harrison W.T. & Oliver M.S., 2012, Internal control and cash. Accounting 9th ed, ch 7, pp 355-403. Pearson) (page 369) as a template for inspiration but change/create your own original data. Implement all the usual spreadsheet requirements.
Question 3 Introduction to management accounting
A. Who uses information from an accounting system? Give examples.
B. Distinguish among scorekeeping, attention directing and problem solving. Give examples of each.
C. -The problem with accounting is that accountants never get to become top managers such as CEOs. Do you agree? Explain. Illustrate your explanation with examples. Use the internet as a resource.