Accounting Assignments
APA format No less than 300 words per Assignment.
1) Review Apple Inc.'s most recent financial statements.
• Based on your analysis of Apple's most recent financial statements, predict whether Apple's financial health will likely improve or deteriorate over the next five years. Provide a rationale for your response.
• Examine Apple's statement of cash flows. Recommend at least two actions that Apple could take in order to maximize the use of its cash flows. Provide a rationale for your response.
2) Research the most common threats to a computerized accounting system using the Internet.
• Upon examination of the greatest threats to a computerized accounting system, suggest two preventive measures or remedies that protect the system and/or mitigate any negative impacts to the system. Provide a rationale for your response.
• Pretend that you are a criminal and want to commit fraud by altering your company's accruals. Create a brief plan (approximately one paragraph in length) of how you would commit the fraud. Predict the major potential resulting damage(s) to the company's financial statements from the fraud.
3) Accounting for Inventories
• As a Financial Accountant, determine the best type of income statement a retailer should use. Defend your suggestion.
• Analyze inventory valuation methods. See text below. Based on your analysis, recommend the most accurate valuation method that reflects current economic conditions. Provide a rationale for your recommendation.
There are three basis approaches to valuing inventory that are allowed by GAAP:
(a) First-in, First-out (FIFO): (b) Last-in, First-out (LIFO): (c) Weighted Average.