ACC_499__Undergraduate_Accounting_Capstone_2013_Strayer

ACC 499 – Undergraduate Accounting Capstone

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(Prerequisite – To be taken last or next to last course in degree program; a grade of “C” or higher is required.)

COURSE DESCRIPTION

This course provides students opportunities for analysis, synthesis, prescription, and application of accounting concepts. Students will apply critical-thinking and decision-making skills to real-world business cases involving complex accounting decisions.

INSTRUCTIONAL MATERIALS

Required Resources

Strayer University (2013). Accounting undergraduate capstone (2 nd

ed.). Mason, OH: Cengage Learning. (Note: This is a textbook uniquely created for Strayer and can only be purchased through the

Strayer Bookstore. The contents of the book differ from the national title.)

Peregrine Academics access code: Students should follow the instructions in at the end of the course guide in order to take the assessment between weeks 9 through 11.

Supplemental Resources

Bartoletti, S. (2012). The missing piece in liquidity calculations. Journal of Accountancy, 213(4), 34-37.

Petra, S. T., & Dorata, N. T. (2012). Restricted stock awards and taxes: What employees and employers should know. Journal of Accountancy, 213(2), 44-48.

Tysiac, K. (2012). Corporate governance best practices 10 years after SOX. Journal of

Accountancy, 214(1), 24-26.

COURSE LEARNING OUTCOMES

1. Analyze accounting situations to apply the proper accounting rules and make recommendations to ensure compliance with generally accepted accounting principles.

2. Analyze business situations to evaluate organization culture and internal controls to ensure that financial statements are presented fairly, not deceptively or fraudulently.

3. Analyze business situations to determine the appropriateness of decision making in terms of professional standards and ethics.

4. Analyze business situations and apply advanced federal taxation concepts.

5. Use technology and information resources to research issues in accounting.

6. Write clearly and concisely about accounting using proper writing mechanics.

WEEKLY COURSE SCHEDULE

The standard requirement for a 4.5 credit hour course is for students to spend 13.5 hours in weekly work. This includes preparation, activities, and evaluation regardless of delivery mode.

Week Preparation, Activities, and Evaluation Points

1 Preparation

 Reading(s)

o Chapter 1: Accounting for Leases

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o Case Study: Leasing Restatements in the Restaurant Industry

 e-Activity

o Use the Internet to research the current provisions and proposed changes reflected in the exposure draft for lease accounting under generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS). Be prepared to discuss.

Activities

 Discussions

Evaluation

 None

2 Preparation

 Reading(s)

o Chapter 2: Contributed Capital

o Case Study: Harley Davidson(B) 2010

 e-Activity

o Use the Internet to research the accounting treatment of equity-based compensation under generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS). Be prepared to discuss.

Activities

 Discussions

Evaluation

 None

3 Preparation

 Reading(s)

o Chapter 3: Intercorporate Investments in Common Stock

o Case Study: Sirius XM Radio

 e-Activity

o Use the Internet to research recent (within the last three years) mergers and acquisitions of global entities involving goodwill. Review the financial statements of an entity after the acquisition involving goodwill impairment. Be prepared to discuss.

Activities

 Discussions

Evaluation

 Assignment 1: Amazon.com Business Combinations and Financial Results Analysis

240

4 Preparation

 Reading(s)

o Chapter 4: International Financial Reporting Standards (IFRS)

o Case Study: Asset Impairments: The Recession of

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2008-2009

 e-Activity

o Research the Internet for several recent articles (within the last three years) on fair value measurement of assets for financial accounting reporting. Be prepared to discuss.

Activities

 Discussions

Evaluation

 None

5 Preparation

 Reading(s)

o Chapter 5: Accounting for Post-Employment Benefits

o Case Study: General Motors

 e-Activity

o Research the Internet for several recent (within the last three years) articles on financial accounting reporting on pension plans. Be prepared to discuss.

Activities

 Discussions

Evaluation

 Midterm Exam: Chapters 1 through 4

200

6 Preparation

 Reading(s)

o Chapter 6: Fraud in e-Commerce

o Case Study: Koss Corporation: Unauthorized Financial Transactions

 e-Activity

o Research the Internet for a recent story (within the last five years) involving a data breach by a publicly traded company. Research the current disclosure requirements of the Securities and Exchange Commission (SEC) involving data breaches by public companies. Be prepared to discuss.

Activities

 Discussions

Evaluation

 None

7 Preparation

 Reading(s)

o Chapter 7: Inventories: Cost Measurement and Flow Assumptions & Special Valuation Issues

o Case Study: Carton Medical Devices

 e-Activity

o Use the Internet to research recent articles on the channel stuffing practice used by a company to increase income by sending suppliers in the distribution channel more inventory

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than they are able to sell. Be prepared to discuss.

Activities

 Discussions

Evaluation

 Assignment 2: Litigation, Censures, and Fines

280

8 Preparation

 Reading(s)

o Chapter 8: Judgmental and Ethical Decision-Making Frameworks and Associated Professional Standards

o Case Study: IBM and Google

 e-Activity

o Use the Internet to research at least two current cases involving violations of the AICPA Code of Professional Conduct. Be prepared to discuss.

Activities

 Discussions

Evaluation

 None

9 Preparation

 Reading(s)

o Chapter 9: Auditing and Internal Control

o Case Study: Apple

 e-Activity

o Use the Internet or the Strayer Library to research the internal control requirements under Sarbanes-Oxley Act (SOX) and the Committee of Sponsoring Organizations of the Treadway Commission‘s (COSO) guidance on internal controls. Be prepared to discuss.

Activities

 Discussions

Evaluation

 Peregrine Assessment (This is the first week the Peregrine Assessment can be taken.)

100

10 Preparation

 Reading(s)

o Chapter 10: Taxes on the Financial Statements

o Case Study: Bethlehem Steel Corporation’s Deferred Taxes

 e-Activity

o Use the Internet to research articles on ASC 740 (SFAS 109) and International Accounting Standard (IAS) 12. Be prepared to discuss.

Activities

 Discussions

Evaluation

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 Peregrine Assessment (The assessment can be taken in this week.)

 Assignment 3: Capstone Research Project

440

11 Preparation

 Reading(s): None

Activities

 Discussions

Evaluation

 Peregrine Assessment (The assessment can be taken in this week.)

 Final Exam: Chapters 5 through 10

200

GRADING SCALE – UNDERGRADUATE

Assignment Total Points % of

Grade

Assignment 1: Amazon.com Business Combinations and Financial Results Analysis

240 15%

Assignment 2: Litigation, Censures, and Fines 280 17%

Assignment 3: Capstone Research Project 440 24%

Midterm Exam (open book with a 2-hour time limit)

Part 1: Chapters 1 and 2; 25 questions, worth 4 points apiece

Part 2: Chapters 3 and 4; 25 questions, worth 4 points apiece

200 12%

Final Exam (open book with a 2-hour time limit)

Part 1: Chapters 5-7; 25 questions, worth 4 points apiece

Part 2: Chapters 8-10; 25 questions, worth 4 points apiece

200 12%

Peregrine Assessment 100 6%

Participation (22 discussions worth 10 points apiece) 220 14%

Totals 1,680 100%

Points Percentage Grade

1,512 – 1,680 90% – 100% A

1,344 – 1,511 80% – 89% B

1,176 – 1,343 70% – 79% C

1,008 – 1,175 60% – 69% D

Below 1,008 Below 60% F

ACC 499 – Assignments and Rubrics

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Assignment 1: Amazon.com Business Combinations and Financial Results Analysis

Due Week 3 and worth 240 points

Search the Internet for acquisitions and equity investments made by Amazon.com during the last five (5) years. Review the 10-K of Amazon.com located at http://www.sec.gov/cgi-bin/browse- edgar?company=&match=&CIK=AMZN&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+ Companies&action=getcompany.

Write a three to four (3-4) page paper in which you:

1. Examine how at least three (3) growth strategy alternatives utilized by Amazon.com in the global and domestic retail markets influenced profitability, and indicate if the strategies were successful.

2. Assess the financial value of the acquisitions and investments made by Amazon.com, and the influence of the acquisitions and investments on profitability during the accounting period.

3. Analyze the effect of the equity investments and impairments resulting from the acquisitions and investments by Amazon.com on the financial statements, and indicate whether or not the strategy was a creatable one. Provide support for your rationale.

4. Create an argument that growth in the European market can have a significant impact on current earnings and profit for Amazon.com. Provide support for your rationale.

5. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

 Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

 Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

 Analyze accounting situations to apply the proper accounting rules and make recommendations to ensure compliance with generally accepted accounting principles.

 Use technology and information resources to research issues in accounting.

 Write clearly and concisely about accounting using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Points: 240 Assignment 1: Amazon.com Business Combinations and Financial Results Analysis

Criteria

Unacceptable

Below 60% F

Meets

Minimum

Expectations

60-69% D

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Examine how at least three (3) growth strategy alternatives utilized by

Did not submit or incompletely examined how at least three (3)

Insufficiently examined how at least three (3) growth

Partially examined how at least three (3) growth

Satisfactorily examined how at least three (3) growth

Thoroughly examined how at least three (3) growth

http://www.sec.gov/cgi-bin/browse-edgar?company=&match=&CIK=AMZN&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany

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Amazon.com in the global and domestic retail markets influenced profitability, and indicate if the strategies were successful. Weight: 20%

growth strategy alternatives utilized by Amazon.com in the global and domestic retail markets influenced profitability; did not submit or incompletely indicated if the strategies were successful.

strategy alternatives utilized by Amazon.com in the global and domestic retail markets influenced profitability; insufficiently indicated if the strategies were successful.

strategy alternatives utilized by Amazon.com in the global and domestic retail markets influenced profitability; partially indicated if the strategies were successful.

strategy alternatives utilized by Amazon.com in the global and domestic retail markets influenced profitability; satisfactorily indicated if the strategies were successful.

strategy alternatives utilized by Amazon.com in the global and domestic retail markets influenced profitability; thoroughly indicated if the strategies were successful.

2. Assess the financial value of the acquisitions and investments made by Amazon.com, and the influence of the acquisitions and investments on profitability during the accounting period. Weight: 20%

Did not submit or incompletely assessed the

financial value of the acquisitions and investments made by Amazon.com, and the influence of the acquisitions and investments on profitability during the accounting period.

Insufficiently assessed the

financial value of the acquisitions and investments made by Amazon.com, and the influence of the acquisitions and investments on profitability during the accounting period.

Partially assessed the

financial value of the acquisitions and investments made by Amazon.com, and the influence of the acquisitions and investments on profitability during the accounting period.

Satisfactorily assessed the

financial value of the acquisitions and investments made by Amazon.com, and the influence of the acquisitions and investments on profitability during the accounting period.

Thoroughly assessed the

financial value of the acquisitions and investments made by Amazon.com, and the influence of the acquisitions and investments on profitability during the accounting period.

3. Analyze the effect of the equity investments and impairments resulting from the acquisitions and investments by Amazon.com on the financial statements, and indicate if it was a creatable strategy. Provide support for your rationale. Weight: 20%

Did not submit or incompletely analyzed the effect of the equity investments and impairments resulting from the acquisitions and investments by Amazon.com on the financial statements; did not submit or incompletely indicated if it was a creatable strategy. Did not submit or incompletely provided support for your rationale.

Insufficiently analyzed the effect of the equity investments and impairments resulting from the acquisitions and investments by Amazon.com on the financial statements; insufficiently indicated if it was a creatable strategy. Insufficiently provided support for your rationale.

Partially analyzed the effect of the equity investments and impairments resulting from the acquisitions and investments by Amazon.com on the financial statements; partially indicated if it was a creatable strategy. Partially provided support for your rationale.

Satisfactorily analyzed the effect of the equity investments and impairments resulting from the acquisitions and investments by Amazon.com on the financial statements; satisfactorily indicated if it was a creatable strategy. Satisfactorily provided support for your rationale.

Thoroughly analyzed the effect of the equity investments and impairments resulting from the acquisitions and investments by Amazon.com on the financial statements; thoroughly indicated if it was a creatable strategy. Thoroughly provided support for your rationale.

4. Create an argument that growth in the European market can have a significant

Did not submit or incompletely created an argument that

Insufficiently created an argument that growth in the

Partially created an argument that growth in the

Satisfactorily created an argument that growth in the

Thoroughly created an argument that growth in the

ACC 499 – Assignments and Rubrics

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impact on current earnings and profit for Amazon.com. Provide support for your rationale. Weight: 25%

growth in the European market can have a significant impact on current earnings and profit for Amazon.com. Did not submit or incompletely provided support for your rationale.

European market can have a significant impact on current earnings and profit for Amazon.com. Insufficiently provided support for your rationale.

European market can have a significant impact on current earnings and profit for Amazon.com. Partially provided support for your rationale.

European market can have a significant impact on current earnings and profit for Amazon.com. Satisfactorily provided support for your rationale.

European market can have a significant impact on current earnings and profit for Amazon.com. Thoroughly provided support for your rationale.

5. 2 references Weight: 5%

No references provided

Does not meet the required number of references; all references poor quality choices.

Does not meet the required number of references; some references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

6. Clarity, writing mechanics, and formatting requirements Weight: 10%

More than 8 errors present

7-8 errors present

5-6 errors present

3-4 errors present

0-2 errors present

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Assignment 2: Litigation, Censures, and Fines

Due Week 7 and worth 280 points

Research the Internet for recent litigation, censures, and fines involving national public accounting firms. Examples of litigation cases against national public accounting firms include fines by regulatory authorities and censures by professional societies.

Write a three to four (3-4) page paper in which you:

1. Analyze the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Provide support for your rationale.

2. Examine the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.

3. Evaluate the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.

4. Identify specific conduct violations committed by the organization and accounting firm in question. Next, create an argument supporting the actions against the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants.

5. Make a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Provide support for your rationale.

6. Use two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

The specific course learning outcomes associated with this assignment are:

 Analyze business situations to determine the appropriateness of decision making in terms of professional standards and ethics.

 Use technology and information resources to research issues in accounting.

 Write clearly and concisely about accounting using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Points: 280 Assignment 2: Litigation, Censures, and Fines

Criteria

Unacceptable

Below 60% F

Meets

Minimum

Expectations

60-69% D

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Analyze the primary accounting

Did not submit or incompletely

Insufficiently analyzed the

Partially analyzed the

Satisfactorily analyzed the

Thoroughly analyzed the

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issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Provide support for your rationale. Weight: 15%

analyzed the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Did not submit or incompletely provided support for your rationale.

primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Insufficiently provided support for your rationale.

primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Partially provided support for your rationale.

primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Satisfactorily provided support for your rationale.

primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Thoroughly provided support for your rationale.

2. Examine the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm. Weight: 15%

Did not submit or incompletely examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.

Insufficiently examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.

Partially examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.

Satisfactorily examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.

Thoroughly examined the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.

Did not submit or incompletely evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.

Insufficiently evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.

Partially evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.

Satisfactorily evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.

Thoroughly evaluated the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question.

Did not submit or incompletely identified specific conduct violations committed by the organization and accounting firm in question. Did not submit or incompletely created an argument supporting the actions against

Insufficiently identified specific conduct violations committed by the organization and accounting firm in question. Insufficiently created an argument supporting the actions against the organization and accounting

Partially identified specific conduct violations committed by the organization and accounting firm in question. Partially created an argument supporting the actions against the organization and accounting firm, based on

Satisfactorily identified specific conduct violations committed by the organization and accounting firm in question. Satisfactorily created an argument supporting the actions against the organization and accounting

Thoroughly identified specific conduct violations committed by the organization and accounting firm in question. Thoroughly created an argument supporting the actions against the organization and accounting

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of conduct for independent auditors and management accountants. Weight: 20%

the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants.

firm, based on the current professional code of conduct for independent auditors and management accountants.

the current professional code of conduct for independent auditors and management accountants.

firm, based on the current professional code of conduct for independent auditors and management accountants.

5. Make a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Provide support for your rationale. Weight: 20%

Did not submit or incompletely made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Did not submit or incompletely provided support for your rationale.

Insufficiently made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Insufficiently provided support for your rationale.

Partially made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Partially provided support for your rationale.

Satisfactorily made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Satisfactorily provided support for your rationale.

Thoroughly made a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Thoroughly provided support for your rationale.

6. 2 references Weight: 5%

No references provided

Does not meet the required number of references; all references poor quality choices.

Does not meet the required number of references; some references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

7. Clarity, writing mechanics, and formatting requirements Weight: 10%

More than 8 errors present

7-8 errors present

5-6 errors present

3-4 errors present

0-2 errors present

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Assignment 3: Capstone Research Project

Due Week 10 and worth 440 points

Assume you are the partner in an accounting firm hired to perform the audit on a fortune 1000 company. Assume also that the initial public offering (IPO) of the company was approximately five (5) years ago and the company is concerned that, in less than five (5) years after the IPO, a restatement may be necessary. During your initial evaluation of the client, you discover the following information:

 The client is currently undergoing a three (3) year income tax examination by the Internal

Revenue Service (IRS). A significant issue involved in the IRS audit encompasses inventory

write-downs on the tax returns that are not included in the financial statements. Because of the

concealment of the transaction, the IRS is labeling the treatment of the write-down as fraud.

 The company has a share-based compensation plan for top-level executives consisting of stock

options. The value of the options exercised during the year was not expensed or disclosed in the

financial statements.

 The company has several operating and capital leases in place, and the CFO is considering

leasing a substantial portion of the assets for future use. The current leases in place are arranged

using special purpose entities (SPEs) and operating leases.

 The company seeks to acquire a global partner, which will require IFRS reporting.

 The company received correspondence from the Securities and Exchange Commission (SEC)

requesting additional supplemental information regarding the financial statements submitted with

the IPO.

Write an eight to ten (8-10) page paper in which you:

1. Evaluate any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Prepare a recommendation to the CFO, evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation, include essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance.

2. Examine the negative results on stakeholders and the financial statements of an IRS audit which generates additional tax and penalties or subsequent audits. Assume that the subsequent audit and / or additional tax and penalties result from the taxpayer’s use of an inventory reserve account, applying a 10 percent reduction to inventory over three (3) years.

3. Discuss the applicable federal tax laws, regulations, rulings, and court cases related to the inventory write-downs, and explain the specific relevance of each to the write-down.

4. Research the current generally accepted accounting principles (GAAP) regarding stock option accounting. Evaluate the current treatment of the company’s share-based compensation plan based on GAAP reporting. Contrast the financial benefits and risks of the share-based compensation stock option plan with the financial benefits and risks of a share-based stock- appreciation rights plan (SARS). Recommend to the CFO which plan the company should use, and provide the correct accounting treatment for each.

5. Research the reporting requirements for lease reporting under GAAP and International Financial Reporting Standards (IFRS). Based on your research, create a proposal for future lease transactions to the CFO. Within the proposal, discuss the use of off-the-balance sheet financing arrangements, capital leases, and operating leases, and indicate the related business and financial risks of each.

6. Create an argument for or against a single set of international accounting standards related to lease accounting based on the global market and cross border leases of assets. Examine the benefits and risks of your chosen position.

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7. Examine the major implications of SAS 99 based on the factors you discovered during the initial evaluation of the company. Provide support for your rationale.

8. Analyze the potential for a material misstatement in the financial statements based on the issues identified in your initial evaluation. Make a recommendation to the CFO for the issuance of restated financial statement restatement. Identify at least three (3) significant issues that can result from the failure to issue restated financial statements.

9. Examine the economic effect of restatement of the financial statements on investors, employees, customers, and creditors.

10. Use five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

The specific course learning outcomes associated with this assignment are:

 Analyze accounting situations to apply the proper accounting rules and make recommendations to ensure compliance with generally accepted accounting principles.

 Analyze business situations to determine the appropriateness of decision making in terms of professional standards and ethics

 Analyze business situations and apply advanced federal taxation concepts.

 Use technology and information resources to research issues in accounting.

 Write clearly and concisely about accounting using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Points: 440 Assignment 3: Capstone Research Project

Criteria

Unacceptable

Below 60% F

Meets

Minimum

Expectations

60-69% D

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

Did not submit or incompletely evaluated any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Did not submit or incompletely prepared a

Insufficiently evaluated any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Insufficiently prepared a recommendation to the CFO,

Partially evaluated any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Partially prepared a recommendation to the CFO,

Satisfactorily evaluated any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Satisfactorily prepared a recommendation to the CFO,

Thoroughly evaluated any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Thoroughly prepared a recommendation to the CFO,

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of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation , include essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance. Weight: 10%

recommendation to the CFO, evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation , did not submit or incompletely included essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance.

evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation , insufficiently included essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance.

evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation , partially included essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance.

evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation , satisfactorily included essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance.

evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation , thoroughly included essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance.

Did not submit or incompletely examined the negative results on stakeholders and the financial statements of an IRS audit which generates additional tax and penalties or subsequent audits. Did not submit or incompletely assumed that the subsequent audit and / or additional tax and penalties result from the taxpayer’s use of an inventory reserve account, applying a 10 percent reduction to inventory over three (3) years.

Insufficiently examined the negative results on stakeholders and the financial statements of an IRS audit which generates additional tax and penalties or subsequent audits. Insufficiently assumed that the subsequent audit and / or additional tax and penalties result from the taxpayer’s use of an inventory reserve account, applying a 10 percent reduction to inventory over three (3) years.

Partially examined the negative results on stakeholders and the financial statements of an IRS audit which generates additional tax and penalties or subsequent audits. Partially assumed that the subsequent audit and / or additional tax and penalties result from the taxpayer’s use of an inventory reserve account, applying a 10 percent reduction to inventory over three (3) years.

Satisfactorily examined the negative results on stakeholders and the financial statements of an IRS audit which generates additional tax and penalties or subsequent audits. Satisfactorily assumed that the subsequent audit and / or additional tax and penalties result from the taxpayer’s use of an inventory reserve account, applying a 10 percent reduction to inventory over three (3) years.

Thoroughly examined the negative results on stakeholders and the financial statements of an IRS audit which generates additional tax and penalties or subsequent audits. Thoroughly assumed that the subsequent audit and / or additional tax and penalties result from the taxpayer’s use of an inventory reserve account, applying a 10 percent reduction to inventory over three (3) years.

3. Discuss the applicable federal tax laws, regulations, rulings, and court cases

Did not submit or incompletely discussed the applicable federal tax laws, regulations,

Insufficiently discussed the applicable federal tax laws, regulations, rulings, and

Partially discussed the applicable federal tax laws, regulations, rulings, and

Satisfactorily discussed the applicable federal tax laws, regulations, rulings, and

Thoroughly discussed the applicable federal tax laws, regulations, rulings, and

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related to the inventory write- downs, and explain the specific relevance of each to the write-down. Weight: 10%

rulings, and court cases related to the inventory write- downs; did not submit or incompletely explained the specific relevance of each to the write-down.

court cases related to the inventory write- downs; insufficiently explained the specific relevance of each to the write-down.

court cases related to the inventory write- downs; partially explained the specific relevance of each to the write-down.

court cases related to the inventory write- downs; satisfactorily explained the specific relevance of each to the write-down.

court cases related to the inventory write- downs; thoroughly explained the specific relevance of each to the write-down.

4. Research the current generally accepted accounting principles (GAAP) regarding stock option accounting. Evaluate the current treatment of the company’s share-based compensation plan based on GAAP reporting. Contrast the financial benefits and risks of the share-based compensation stock option plan with the financial benefits and risks of a share- based stock- appreciation rights plan (SARS). Recommend to the CFO which plan the company should use, and provide the correct accounting treatment for each. Weight: 10%

Did not submit or incompletely researched the current generally accepted accounting principles (GAAP) regarding stock option accounting. Did not submit or incompletely evaluated the current treatment of the company’s share-based compensation plan based on GAAP reporting. Did not submit or incompletely contrasted the financial benefits and risks of the share-based compensation stock option plan with the financial benefits and risks of a share- based stock- appreciation rights plan (SARS). Did not submit or incompletely recommended to the CFO which plan the company should use, and provided the correct accounting treatment for each.

Insufficiently researched the current generally accepted accounting principles (GAAP) regarding stock option accounting. Insufficiently evaluated the current treatment of the company’s share-based compensation plan based on GAAP reporting. Insufficiently contrasted the financial benefits and risks of the share-based compensation stock option plan with the financial benefits and risks of a share- based stock- appreciation rights plan (SARS). Insufficiently recommended to the CFO which plan the company should use, and provided the correct accounting treatment for each.

Partially researched the current generally accepted accounting principles (GAAP) regarding stock option accounting. Partially evaluated the current treatment of the company’s share-based compensation plan based on GAAP reporting. Partially contrasted the financial benefits and risks of the share-based compensation stock option plan with the financial benefits and risks of a share- based stock- appreciation rights plan (SARS). Partially recommended to the CFO which plan the company should use, and provided the correct accounting treatment for each.

Satisfactorily researched the current generally accepted accounting principles (GAAP) regarding stock option accounting. Satisfactorily evaluated the current treatment of the company’s share-based compensation plan based on GAAP reporting. Satisfactorily contrasted the financial benefits and risks of the share-based compensation stock option plan with the financial benefits and risks of a share- based stock- appreciation rights plan (SARS). Satisfactorily recommended to the CFO which plan the company should use, and provided the correct accounting treatment for each.

Thoroughly researched the current generally accepted accounting principles (GAAP) regarding stock option accounting. Thoroughly evaluated the current treatment of the company’s share-based compensation plan based on GAAP reporting. Thoroughly contrasted the financial benefits and risks of the share-based compensation stock option plan with the financial benefits and risks of a share- based stock- appreciation rights plan (SARS). Thoroughly recommended to the CFO which plan the company should use, and provided the correct accounting treatment for each.

5. Research the reporting

Did not submit or incompletely

Insufficiently researched the

Partially researched the

Satisfactorily researched the

Thoroughly researched the

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requirements for lease reporting under GAAP and International Financial Reporting Standards (IFRS). Based on your research, create a proposal for future lease transactions to the CFO. Within the proposal, discuss the use of off-the- balance sheet financing arrangements, capital leases, and operating leases, and indicate the related business and financial risks of each. Weight: 10%

researched the reporting requirements for lease reporting under GAAP and International Financial Reporting Standards (IFRS). Based on your research, did not submit or incompletely created a proposal for future lease transactions to the CFO. Within the proposal, did not submit or incompletely discussed the use of off-the- balance sheet financing arrangements, capital leases, and operating leases, and indicate the related business and financial risks of each.

reporting requirements for lease reporting under GAAP and International Financial Reporting Standards (IFRS). Based on your research, insufficiently created a proposal for future lease transactions to the CFO. Within the proposal, insufficiently discussed the use of off-the- balance sheet financing arrangements, capital leases, and operating leases, and indicate the related business and financial risks of each.

reporting requirements for lease reporting under GAAP and International Financial Reporting Standards (IFRS). Based on your research, partially created a proposal for future lease transactions to the CFO. Within the proposal, partially discussed the use of off-the- balance sheet financing arrangements, capital leases, and operating leases, and indicate the related business and financial risks of each.

reporting requirements for lease reporting under GAAP and International Financial Reporting Standards (IFRS). Based on your research, satisfactorily created a proposal for future lease transactions to the CFO. Within the proposal, satisfactorily discussed the use of off-the- balance sheet financing arrangements, capital leases, and operating leases, and indicate the related business and financial risks of each.

reporting requirements for lease reporting under GAAP and International Financial Reporting Standards (IFRS). Based on your research, thoroughly created a proposal for future lease transactions to the CFO. Within the proposal, thoroughly discussed the use of off-the- balance sheet financing arrangements, capital leases, and operating leases, and indicate the related business and financial risks of each.

Did not submit or incompletely created an argument for or against a single set of international accounting standards related to lease accounting based on the global market and cross border leases of assets. Did not submit or incompletely examined the benefits and risks of your chosen position.

Insufficiently created an argument for or against a single set of international accounting standards related to lease accounting based on the global market and cross border leases of assets. Insufficiently examined the benefits and risks of your chosen position.

Partially created an argument for or against a single set of international accounting standards related to lease accounting based on the global market and cross border leases of assets. Partially examined the benefits and risks of your chosen position.

Satisfactorily created an argument for or against a single set of international accounting standards related to lease accounting based on the global market and cross border leases of assets. Satisfactorily examined the benefits and risks of your chosen position.

Thoroughly created an argument for or against a single set of international accounting standards related to lease accounting based on the global market and cross border leases of assets. Thoroughly examined the benefits and risks of your chosen position.

7. Examine the major implications of SAS 99 based on the factors you discovered

Did not submit or incompletely examined the major implications of SAS 99 based

Insufficiently examined the

major implications of SAS 99 based on the factors

Partially examined the

major implications of SAS 99 based on the factors

Satisfactorily examined the

major implications of SAS 99 based on the factors

Thoroughly examined the

major implications of SAS 99 based on the factors

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during the initial evaluation of the company. Provide support for your rationale. Weight: 10%

on the factors you discovered during the initial evaluation of the company. Did not submit or incompletely provided support for your rationale.

you discovered during the initial evaluation of the company. Insufficiently provided support for your rationale.

you discovered during the initial evaluation of the company. Partially provided support for your rationale.

you discovered during the initial evaluation of the company. Satisfactorily provided support for your rationale.

you discovered during the initial evaluation of the company. Thoroughly provided support for your rationale.

Did not submit or incompletely analyzed the potential for a material misstatement in the financial statements based on the issues identified in your initial evaluation. Did not submit or incompletely made a recommendation to the CFO for the issuance of restated financial statement restatement. Did not submit or incompletely identified at least three (3) significant issues that can result from the failure to issue restated financial statements.

Insufficiently analyzed the potential for a material misstatement in the financial statements based on the issues identified in your initial evaluation. Insufficiently made a recommendation to the CFO for the issuance of restated financial statement restatement. Insufficiently identified at least three (3) significant issues that can result from the failure to issue restated financial statements.

Partially analyzed the potential for a material misstatement in the financial statements based on the issues identified in your initial evaluation. Partially made a recommendation to the CFO for the issuance of restated financial statement restatement. Partially identified at least three (3) significant issues that can result from the failure to issue restated financial statements.

Satisfactorily analyzed the potential for a material misstatement in the financial statements based on the issues identified in your initial evaluation. Satisfactorily made a recommendation to the CFO for the issuance of restated financial statement restatement. Satisfactorily identified at least three (3) significant issues that can result from the failure to issue restated financial statements.

Thoroughly analyzed the potential for a material misstatement in the financial statements based on the issues identified in your initial evaluation. Thoroughly made a recommendation to the CFO for the issuance of restated financial statement restatement. Thoroughly identified at least three (3) significant issues that can result from the failure to issue restated financial statements.

9. Examine the economic effect of restatement of the financial statements on investors, employees, customers, and creditors. Weight: 5%

Did not submit or incompletely examined the economic effect of restatement of the financial statements on investors, employees, customers, and creditors.

Insufficiently examined the economic effect of restatement of the financial statements on investors, employees, customers, and creditors.

Partially examined the economic effect of restatement of the financial statements on investors, employees, customers, and creditors.

Satisfactorily examined the economic effect of restatement of the financial statements on investors, employees, customers, and creditors.

Thoroughly examined the economic effect of restatement of the financial statements on investors, employees, customers, and creditors.

10. 5 references Weight: 5%

No references provided

Does not meet the required number of references; all references poor quality choices.

Does not meet the required number of references; some references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

11. Clarity, writing

More than 8 errors present

7-8 errors present

5-6 errors present

3-4 errors present

0-2 errors present

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mechanics, and formatting requirements Weight: 10%

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Weekly Course Schedule

The purpose of the course schedule is to give you, at a glance, the required preparation, activities, and evaluation components of your course. For more information about your course, whether on-ground or online, access your online course shell.

The expectations for a 4.5 credit hour course are for students to spend 13.5 hours in weekly work. This time estimate includes preparation, activities, and evaluation regardless of the delivery mode.

Instructional Materials

In order to be fully prepared, obtain a copy of the required textbooks and other instructional materials prior to the first day of class. When available, Strayer University provides a link to the first three (3) chapters of your textbook(s) in eBook format. Check your online course shell for availability.

Review the online course shell or check with your professor to determine whether Internet-based assignments and activities are used in this course.

Strayer students are encouraged to purchase their course materials through our designated Strayer Bookstore. http://www.strayerbookstore.com If a lab is required for the course, the Strayer Bookstore is the only vendor that sells the correct registration code so that Strayer students may access labs successfully.

Discussions

To earn full credit in an online threaded discussion, students must have one original post and a minimum of one other post per discussion thread.

Please note: Material in the online class will be made available on the previous Thursday. As it is always possible that students could lose their work due to unforeseen circumstances, it is a best practice to routinely save a working draft in a separate file before posting in the course discussion area. Professors hold discussions during class time for on-ground students. Check with your professor if any additional discussion participation is required in the online course shell outside of class hours.

Tests

Tests (quizzes, midterm and final exams, essay exams, lab tests, etc.) are available for student access and completion through the online course shell. Check the online course shell to determine how you are expected to take the tests.

 Online students are to complete the test by Sunday midnight the week the test is due.

 On-ground students are to complete the tests after the material is covered and before the next class session.

Assignments

A standardized performance grading rubric is a tool your professor will use to evaluate your written assignments. Review the rubric before submitting assignments that have grading rubrics associated with them to ensure you have met the performance criteria stated on the rubric.

Grades are based on individual effort. There is no group grading; however, working in groups in the online or on-ground classroom is acceptable.

Assignments for online students are always submitted through the online course shell. On-ground professors will inform students on how to submit assignments, whether in paper format or through the online course shell.

http://www.strayerbookstore.com/

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Resources

The Resource Center navigation button in the online course shell contains helpful links. Strayer University Library Resources are available here as well as other important information. You should review this area to find resources and answers to common questions.

Technical support is available for the following:

 For technical questions, please contact Strayer Online Technical Support by logging in to your

iCampus account at https://icampus.strayer.edu/login and submitting a case under “Student

Center,” then “Submit Help Ticket.” If you are unable to log in to your iCampus account, please

contact Technical Support via phone at (877) 642-2999.

 For concerns with your class, please access the Solution Center by logging in to your iCampus

account at https://icampus.strayer.edu/login and submitting a case under “Student Center,” then

“Submit Help Ticket.” If you are unable to log in to your iCampus account, please contact the IT

Help Desk at (866) 610-8123 or at mailto:[email protected].

TurnItIn.com is an optional online tool to assess the originality of student written work. Check with your professor for access and use instructions.

The Strayer Policies link on the navigation bar in the online course shell contains academic policies. It is important that students be aware of these policies.

https://icampus.strayer.edu/login

mailto:[email protected]

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Bachelors Student Registration Instructions:

1. Select http://www.peregrineacademics.com/strayer.

2. Enter case-sensitive password STRAYERB-1001 (on right side of screen under Self-Registration for Access Key(s)).

3. Select View Registration.

4. Select the appropriate exam as directed by your school.

5. Select Review Your Selection(s) and Proceed with Registration.

6. Select Proceed with Self-Registration.

7. Enter First Name, Last Name, and your E-mail address.