Master’s Level Accounting Assignments 1, 2, and 3

 

APA format No less than 300 words per Assignment.

 

 

1)    Review Apple Inc.’s most recent financial statements: http://investor.apple.com/financials.cfm.

 

  • 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 (5) years. Provide a rationale for your response.

  • Examine Apple’s statement of cash flows. Recommend at least two (2) 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 (2) 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 [1] 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