MGT 5000 Midterm Exam

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Description

Prepare answers to 8 of the following. You can use Excel. But, you should copy and paste
your Excel work into this document for submission. Provide at least three references at the end
of this document in APA format. When you have completed your work, save the file and use the
ANGEL email feature to submit it for grading. Do not submit more than one file.
1.

Distinguish between Managerial Accounting and Financial Accounting. Find a job ad
for each of these at a site such as Monster.com. Compare the job duties of each and
discuss the similarities and differences between what the employers are looking for in
terms of relevant skills, duties, and or qualifications between these two type jobs.

2. Provide a short history of accounting.

3. Look up the annual reports for Ford and GM. Evaluate each companys liquidity,
compare the two, and come up with a judgment regarding their current ability to meet
short term bills as they come due. Evaluate Ford and GM in terms of inventory
turnover, compare the two, and post a conclusion

4. Do some research on International Financial Reporting Standards. Where does that
undertaking stand today?

5. Look up the annual reports for Ford and GM who trade stock in a public stock exchange
such as the NYSE. Evaluate each companys profitability (pg 414), compare the two,
and come up with a value judgment regarding their current situation.

6. Look up the annual reports for Ford and GM who trade stock in a public stock exchange
such as the NYSE. Prepare common size income statements for each, compare the
two, and come up with a value judgment regarding their current situation. (These are a
percentage analysis of the components of the statement)

7. Look up the annual reports for Ford and GM who trade stock in a public stock exchange
such as the NYSE. Prepare common size balance sheets for each, compare the two,
and come up with a value judgment regarding their current situation. For example, you

might point out one of them if it appears they are holding a lot more inventory as a
percentage of total assets.

8. Discuss the optional methods that can be used for costing inventory (i.e. FIFO, LIFO,
Average, Specific ID). Explain which inventory costing system you would use and why.
What inventory costing method do GM and Ford use?
9. Complete a financial analysis of Dollar General based on the financial reports you will
find for 2011. The analytical procedures you need to do are listed below. You should
provide an explanation of each ratio you compute along with your judgment regarding
the companys ratio. http://finance.yahoo.com/q/is?s=DG+Income+Statement&annual

A. Return on average total assets.____________
B. Net profit margin (net income / Sales)._____________
C. Working capital_____________
D. Current ratio____________
E. Acid test ratio.____________

10. Write a short report on one of the following:
a. The ENRON scandal.
b. Health South
c. World Com
d. Tyco Fraud case.

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MGT 5000 Midterm Exam

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Description

Prepare answers to 8 of the following. You can use Excel. But, you should copy and paste
your Excel work into this document for submission. Provide at least three references at the end
of this document in APA format. When you have completed your work, save the file and use the
ANGEL email feature to submit it for grading. Do not submit more than one file.
1.

Distinguish between Managerial Accounting and Financial Accounting. Find a job ad
for each of these at a site such as Monster.com. Compare the job duties of each and
discuss the similarities and differences between what the employers are looking for in
terms of relevant skills, duties, and or qualifications between these two type jobs.

2. Provide a short history of accounting.

3. Look up the annual reports for Ford and GM. Evaluate each companys liquidity,
compare the two, and come up with a judgment regarding their current ability to meet
short term bills as they come due. Evaluate Ford and GM in terms of inventory
turnover, compare the two, and post a conclusion

4. Do some research on International Financial Reporting Standards. Where does that
undertaking stand today?

5. Look up the annual reports for Ford and GM who trade stock in a public stock exchange
such as the NYSE. Evaluate each companys profitability (pg 414), compare the two,
and come up with a value judgment regarding their current situation.

6. Look up the annual reports for Ford and GM who trade stock in a public stock exchange
such as the NYSE. Prepare common size income statements for each, compare the
two, and come up with a value judgment regarding their current situation. (These are a
percentage analysis of the components of the statement)

7. Look up the annual reports for Ford and GM who trade stock in a public stock exchange
such as the NYSE. Prepare common size balance sheets for each, compare the two,
and come up with a value judgment regarding their current situation. For example, you

might point out one of them if it appears they are holding a lot more inventory as a
percentage of total assets.

8. Discuss the optional methods that can be used for costing inventory (i.e. FIFO, LIFO,
Average, Specific ID). Explain which inventory costing system you would use and why.
What inventory costing method do GM and Ford use?
9. Complete a financial analysis of Dollar General based on the financial reports you will
find for 2011. The analytical procedures you need to do are listed below. You should
provide an explanation of each ratio you compute along with your judgment regarding
the companys ratio. http://finance.yahoo.com/q/is?s=DG+Income+Statement&annual

A. Return on average total assets.____________
B. Net profit margin (net income / Sales)._____________
C. Working capital_____________
D. Current ratio____________
E. Acid test ratio.____________

10. Write a short report on one of the following:
a. The ENRON scandal.
b. Health South
c. World Com
d. Tyco Fraud case.

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MGT 5000 Midterm exam

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Description

MGT 5000 Midterm exam

Test questions are based on the financial statements below.

NYSE: WMT74.21at 1:40pm EST on Sept 25

2013

2012

2011

Period End Date

1/31/2013

1/31/2012

1/31/2011

Stmt Source

N/A

10-K

10-K

Stmt Source Date

1/31/2013

3/26/2013

3/26/2013

Stmt Update Type

Original

Updated

Updated

Currency Code

USD

USD

USD

Total Revenue

469,162.00

446,950.00

421,849.00

Cost of Revenue

352,488.00

335,127.00

314,946.00

Gross Profit

116,674.00

111,823.00

106,903.00

Selling,General and Administrative

88,873.00

85,265.00

81,361.00

Operating Expenses

88,873.00

85,265.00

81,361.00

Operating Income

27,801.00

26,558.00

25,542.00

Net Interest Income

-2,064.00

-2,160.00

-2,004.00

Pretax Income

25,737.00

24,398.00

23,538.00

Provision for Income Tax

7,981.00

7,944.00

7,579.00

Minority Interest

757

688

604

Discontinued Operations

0

-67

1,034.00

Net Income

16,999.00

15,699.00

16,389.00

Wal-Mart Stores Inc., Consolidated Balance Sheet (rounded to millions)

Assets

2013

2012

2011

Cash, Equiv and Short Term Investments

7,781.00

6,550.00

7,395.00

Cash and Cash Equivalents

7,781.00

6,550.00

7,395.00

Receivables

6,768.00

5,937.00

5,089.00

Inventories

43,803.00

40,714.00

36,318.00

Prepaid Assets and Others

1,588.00

1,774.00

2,960.00

Other Current Assets

0

0

131

Total Current Assets

59,940.00

54,975.00

51,893.00

Net Property,Plant,and Equipment

116,681.00

112,324.00

107,878.00

Gross Property,Plant,and Equipment

171,724.00

160,938.00

154,489.00

Land and Improvements

25,612.00

23,499.00

24,386.00

Buildings and Improvements

90,686.00

84,275.00

79,051.00

Machinery,Furniture/Equipment

43,699.00

41,916.00

40,885.00

Other Properties

0

0

5,905.00

Construction in Progress

5,828.00

5,312.00

4,262.00

Leasehold and Improvements

5,899.00

5,936.00

0

Accumulated Depreciation

-55,043.00

-48,614.00

-46,611.00

Goodwill and Other Intangible Assets

20,497.00

20,651.00

16,763.00

Goodwill

20,497.00

20,651.00

16,763.00

Deferred Costs

5,987.00

5,456.00

0

Other Non-Current Assets

0

0

4,129.00

Total Non-Current Assets

143,165.00

138,431.00

128,770.00

Total Assets

203,105.00

193,406.00

180,663.00

Liabilities and Shareholders’ Equity

Payables

43,142.00

40,095.00

33,714.00

Accounts Payable

38,080.00

36,608.00

33,557.00

Taxes Payable

5,062.00

3,487.00

157

Accrued Expenses,Current

15,957.00

15,857.00

18,701.00

Current Debt

12,392.00

6,022.00

5,686.00

Current Portion of Capital Lease Obligation

327

326

336

Other Current Liabilities

0

0

47

Total Current Liabilities

71,818.00

62,300.00

58,484.00

LT Debt and Capital Lease Obligation

41,417.00

47,079.00

43,842.00

Long Term Debt

38,394.00

44,070.00

40,692.00

Long Term Portion of Capital Lease Obligation

3,023.00

3,009.00

3,150.00

Deferred Liabilities, Non current

7,613.00

7,862.00

6,682.00

Deferred Taxes,Non-Current Liabilities

7,613.00

7,862.00

6,682.00

Minority Interest

5,395.00

4,446.00

2,705.00

Other Non-Current Liabilities

519

404

408

Total Non-Current Liabilities and MI

54,944.00

59,791.00

53,637.00

Total Liabilities

126,762.00

122,091.00

112,121.00

Capital Stock

332

342

0

Common Stock

332

342

0

Retained Earnings

72,978.00

68,691.00

63,967.00

Additional Paid in Capital

3,620.00

3,692.00

3,577.00

Accum Gains/ Losses Not Affecting RE

-587

-1,410.00

646

Total Equity

76,343.00

71,315.00

68,542.00

Total Liabilities and Equity

203,105.00

193,406.00

180,663.00

Ordinary Shares Outstanding

3,314.00

3,418.00

3,516.00

For each of the following, perform the computations, show your work and give your interpretation of the results of your computations.

1. Return on average total assets (ROI) for 2013 and 2012.

2. Earnings per share for 2013 and 2012.

3. Return on equity for 2013 and 2012

4. Working capital for 2013 and 2012

5. Current ratio for 2013 and 2012.

6. Acid test ratio for 2013 and 2012.

7. Trend analysis in Net Sales

8. Trend analysis in Net Income

9. Price earnings ratio based on the 2013 EPS.

10. Trend analysis in inventory.

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MGT 5000 -Midterm exam

$21.00

Description

MGT 5000 Midterm exam

Test questions are based on the financial statements below.

2013

2012

2011

Period End Date

1/31/2013

1/31/2012

1/31/2011

Stmt Source

N/A

10-K

10-K

Stmt Source Date

1/31/2013

3/26/2013

3/26/2013

Stmt Update Type

Original

Updated

Updated

Currency Code

USD

USD

USD

Total Revenue

469,162.00

446,950.00

421,849.00

Cost of Revenue

352,488.00

335,127.00

314,946.00

Gross Profit

116,674.00

111,823.00

106,903.00

Selling,General and Administrative

88,873.00

85,265.00

81,361.00

Operating Expenses

88,873.00

85,265.00

81,361.00

Operating Income

27,801.00

26,558.00

25,542.00

Net Interest Income

-2,064.00

-2,160.00

-2,004.00

Pretax Income

25,737.00

24,398.00

23,538.00

Provision for Income Tax

7,981.00

7,944.00

7,579.00

Minority Interest

757

688

604

Discontinued Operations

0

-67

1,034.00

Net Income

16,999.00

15,699.00

16,389.00

Wal-Mart Stores Inc., Consolidated Balance Sheet (rounded to millions)

Assets

2013

2012

2011

Cash, Equiv and Short Term Investments

7,781.00

6,550.00

7,395.00

Cash and Cash Equivalents

7,781.00

6,550.00

7,395.00

Receivables

6,768.00

5,937.00

5,089.00

Inventories

43,803.00

40,714.00

36,318.00

Prepaid Assets and Others

1,588.00

1,774.00

2,960.00

Other Current Assets

0

0

131

Total Current Assets

59,940.00

54,975.00

51,893.00

Net Property,Plant,and Equipment

116,681.00

112,324.00

107,878.00

Gross Property,Plant,and Equipment

171,724.00

160,938.00

154,489.00

Land and Improvements

25,612.00

23,499.00

24,386.00

Buildings and Improvements

90,686.00

84,275.00

79,051.00

Machinery,Furniture/Equipment

43,699.00

41,916.00

40,885.00

Other Properties

0

0

5,905.00

Construction in Progress

5,828.00

5,312.00

4,262.00

Leasehold and Improvements

5,899.00

5,936.00

0

Accumulated Depreciation

-55,043.00

-48,614.00

-46,611.00

Goodwill and Other Intangible Assets

20,497.00

20,651.00

16,763.00

Goodwill

20,497.00

20,651.00

16,763.00

Deferred Costs

5,987.00

5,456.00

0

Other Non-Current Assets

0

0

4,129.00

Total Non-Current Assets

143,165.00

138,431.00

128,770.00

Total Assets

203,105.00

193,406.00

180,663.00

Liabilities and Shareholders’ Equity

Payables

43,142.00

40,095.00

33,714.00

Accounts Payable

38,080.00

36,608.00

33,557.00

Taxes Payable

5,062.00

3,487.00

157

Accrued Expenses,Current

15,957.00

15,857.00

18,701.00

Current Debt

12,392.00

6,022.00

5,686.00

Current Portion of Capital Lease Obligation

327

326

336

Other Current Liabilities

0

0

47

Total Current Liabilities

71,818.00

62,300.00

58,484.00

LT Debt and Capital Lease Obligation

41,417.00

47,079.00

43,842.00

Long Term Debt

38,394.00

44,070.00

40,692.00

Long Term Portion of Capital Lease Obligation

3,023.00

3,009.00

3,150.00

Deferred Liabilities, Non current

7,613.00

7,862.00

6,682.00

Deferred Taxes,Non-Current Liabilities

7,613.00

7,862.00

6,682.00

Minority Interest

5,395.00

4,446.00

2,705.00

Other Non-Current Liabilities

519

404

408

Total Non-Current Liabilities and MI

54,944.00

59,791.00

53,637.00

Total Liabilities

126,762.00

122,091.00

112,121.00

Capital Stock

332

342

0

Common Stock

332

342

0

Retained Earnings

72,978.00

68,691.00

63,967.00

Additional Paid in Capital

3,620.00

3,692.00

3,577.00

Accum Gains/ Losses Not Affecting RE

-587

-1,410.00

646

Total Equity

76,343.00

71,315.00

68,542.00

Total Liabilities and Equity

203,105.00

193,406.00

180,663.00

Ordinary Shares Outstanding

3,314.00

3,418.00

3,516.00

For each of the following, perform the computations, show your work and give your interpretation of the results of your computations.

1. Return on average total assets (ROI) for 2013 and 2012.

2. Earnings per share for 2013 and 2012.

3. Return on equity for 2013 and 2012

4. Working capital for 2013 and 2012

5. Current ratio for 2013 and 2012.

6. Acid test ratio for 2013 and 2012.

7. Trend analysis in Net Sales

8. Trend analysis in Net Income

9. Price earnings ratio based on the 2013 EPS.

10. Trend analysis in inventory.

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