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Management Applications of Accounting Instructions Cookie Business Final Project Now that your cookie business is well underway, you are going to use the knowledge that you have gained in this course to evaluate the financial information for the company. You will be creating a series of reports and analyzing the results using the templates provided to guide you through the project. The learning objectives of this project are as follows: Apply accounting concepts and standards to the creation of accounting information and reports. Analyze accounting information used to make strategic business decisions. Apply ethical behavior to accounting-related situations. Make business decisions based on analyzing accounting data. Using the Template provided prepare a four- to five-page written report (including spreadsheets) with at least three scholarly sources. Your report will provide the following information: Introduction Part 1: Based on the data presented in the   Spreadsheet Template in Excel (CM Breakeven tab): Calculate the contribution margin (CM) for each of the three products sold at the cookie business. Calculate the weighted average CM. Calculate the breakeven point. Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss the results based on your calculations as far as which type of cookie you think is the most profitable, which has the highest CM, etc. Part 2: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Full Variable tab), complete the calculations listed below. Calculate the value of ending inventory under full or absorption costing. Calculate the value of ending inventory under variable costing. Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss the results, and comment on which method you think is more helpful to managers and why. Part 3: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Special Order tab), calculate the net increase or decrease in profit if they take the special order. Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss the results and comment on if you think the cookie business should take on this special order of cookies for a wedding. Business has been slow the last few months, and the offer is less than the usual selling price for the cookies. As part of your discussion, include both quantitative (based on the numbers) and qualitative (not based on numbers) factors that would go into the decision to take on the special order. Part 4: Based on the data presented in the Unit VII Spreadsheet Template in Excel (IRR tab), calculate the internal rate of return (IRR) for the new equipment purchase. Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Note: the PV Annuity table is provided for you. Discuss if you think the cookie business should accept or reject the purchase of the new equipment and why. Additional information has come to your attention regarding the equipment purchase. One of the partner’s brother owns the company that sells the equipment and insists the equipment is needed. Discuss any ethical concerns you see with this type of transaction. Part 5: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Cash Budget tab), calculate the cash receipts for the first quarter of this year. Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss your observations about the way cash is collected if the company needs $150,000 per month for expenses. Part 6: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Variances tab), complete the following calculations. Calculate the material variances. Calculate the labor variances. Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss your observations about the variances and ways to plan to improve any of the variances. Conclusion and Recommendations Summarize the key observations that you have made about the cookie business based on the calculations you have performed, and present any future recommendations. Be sure to use APA formatting throughout, and reach out to the Writing Center or the Library for assistance with research, writing, and formatting.
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Discussion board # 1 Do you think all variances should be investigated and reported to top management or just those that are significant and/or over budget? Why? Respond to post # 1 (SB) I believe that significant variances should be the variances that management should be concerned with. If every variance was reported to management and investigated, the company could spend much more money on the time spent looking into each one. Looking at it from the outside in, if we brought every variance to management to investigate and pull management, supervisors, and possibly foremen that oversee the projects, we now have all of those salaries that the company is paying for to talk about each and every variance. However, if the same variance comes up over and over, it should be brought to management’s attention to investigate why it is occurring so often and implement corrective actions to alleviate it. Discussion board # 2 What do you think are the advantages and disadvantages of using the balanced scorecard approach to performance evaluations of managers? When you become a manager, would you like to participate in this form of evaluation? Do you think you could manipulate criteria if evaluated by this format? Please elaborate. Discussion board # 3 Project management is essential for the operations in various industries such as information technology, hospitality, engineering, and others. Discuss a project you were involved in that was not successful. Explain why the project failed and what you think needed to be done to make it successful. This can be a project from work or a personal project. Respond to post # 2 (JW) Project management is definitely an essential component to operations. There will always be a project to complete, after you think your done with that one. Even after completing or not completing a project, you always have to revisit the project. A project that I feel I was not successful in because I was working on too much at the same time. I was researching a project seeing we could determine how to place staff effectively in operations, through the results if the puzzle they completed. This project is not totally lost right now, it’s just taking a little longer than anticipated. I had to restructure our training program from the ground up. I’ve constructed a management training program, frontline staff training program and a yearly refreshers through QR Codes. Too which has been successful…..Next time, I will focus on one thing at a time and not stress myself for what I didn’t get done. Discussion Board # 4 Discuss how you can apply the concepts learned in this course in your future professional, personal, or academic pursuits. How might the lessons you have learned positively impact your career success?
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1 Title of the Paper Goes Here Student Name Institution ACC 5301 Management Applications of Accounting Instructor Date Abstract The abstract is an overview of the paper, written after completion. Other researchers use the abstract to determine if your work will be useful to them. The abstract should include the background, hypothesis or research question, methodology for data collection and analysis, the findings of your research, and conclusions. It should be between 100–150 words. This is done when the paper is complete. Title of Paper Remember this part of the paper is double spaced in APA format. The Introduction should lead readers into the topic and its importance. Introductions typically include the overall topic of the paper, the specific focus of the paper within the larger topic, the main points in the paper, the kind of paper (study, argument, critique, discussion), and the purpose. Writing tip: The length of the introduction should be in proportion to the length of the paper. Also ask yourself, “With my purpose and my audience, how do I engage my readers best?” In the introduction, you set the tone of the piece, establish your voice, and demonstrate your writing style; be authentic to your purpose and your audience. Part 1 Contribution Margin/Breakeven Embed your spreadsheet for this section here and discuss the results. Part 2 Full and Variable Costing Embed your spreadsheet for this section here and discuss the results. Part 3 Special Order Embed your spreadsheet for this section here and discuss the results. Part 4 Internal Rate of Return Embed your spreadsheet for this section here and discuss the results. Part 5 Cash Budget Embed your spreadsheet for this section here and discuss the results. Part 6 Material and Labor Variance Embed your spreadsheet for this section here and discuss the results. Conclusions and Recommendations The conclusion section should summarize for the readers the topics of importance that led to your final conclusions/analysis regarding this case. Include some specific areas of focus from your analysis to reinforce your conclusion. References Include complete references in proper APA format for all of the citations listed in your paper. Be sure to use the library for the required number of sources. Additional sources can be used but should be scholarly. Present your references in alphabetical order.