Project #82491 - Accounting Work

Accounting 2510 – Principles of Accounting

 

Written Assignment – Due Date: September 21, 2015

 

Assignment:

You will prepare a Memo to the President of your Company to answer the three questions listed below.  The purpose of the Memo is to provide the President the available options and to support which choice is the most appropriate with regards to the accounting for the three questions.  You will be graded on three main areas: Content, Clear Communication, and how directly you answer the three questions.  The Memo must be one page, single-spaced between 300-500 words.  You will not need to reference any sources in the Memo.  The Assignment must be printed and delivered on class on September 21stor by email prior to the start of class.  I will deduct points for poor spelling, grammar, and lateness.  This assignment will count for 10% of your total grade.

Questions:

1.       Should our Company use the Cash or Accrual basis of Accounting.

2.       What method of Inventory valuation should we use (LIFO, FIFO, or Average costing).

3.       What are three main internal controls we should put in place to safeguard our assets.

 

Memo Format (These words do not count towards the 300-500 count)

To:                          Mr. Smith, President (you may use any name you wish)

From:                    John Doe, Accountant (Use your name and you can use any title you wish)

Date:                     September 21st, 2015 (Use the Due date on the assignment)

Subject:               (Please create a subject line that quickly lets the reader know what the Memo is regarding)

Subject Business
Due By (Pacific Time) 09/20/2015 12:00 am
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