12367 Deliver within 48 Hrs
Pages: 2 pages (1100 words, Single spaced)
Number of sources: 2
Subject or discipline: Accounting
Title: Project 5
Paper instructions:
Pages: 2 pages (1100 words, Single spaced)
Number of sources: 2
Subject or discipline: Accounting
Title: Project 5
Paper instructions:
SEC 10K REPORT
https://otp.tools.investis.com/clients/us/home_depot/SEC/sec-show.aspx?Type=html&FilingId=14030444&CIK=0000354950&Index=10000#HD10K02022020_HTM_S72F1EE8BD352548D944BE7B265D81E22 UMGC
ACCT 301 – Project Five
Business Report
This is the last of five projects you will write to incorporate course concepts with information found within your corporations SEC10K report. Focus on telling a story about your corporation and its financial performance and position.
SCENARIO:You are a new hire for a major corporation completing your eight-week rotation relating to accounting, financial reporting, budgeting, cost control, and profit maximization. As part of your rotation, you are learning how accounting information is used by managers throughout the organization to make managerial decisions. This report will address the below topics, providing senior management a report introducing, explaining, and providing analysis of the financial reports. Assume senior management does not understand basic accounting concepts and unable to read and interpret the reports without your assistance. Incorporate and explain accounting concepts learned within the course material (readings and discussions) and provide financial analysis as completed within the SEC10K discussion posts.
REQUIREMENT: Prepare a report for your chosen corporations senior managers to interpret and explain the SEC10K financial reports. The report should be one to two full in pages in length: single-spaced, 12 pt. font, one-inch margins, and in your own words. Make note of the grading rubric which requires you to address project questions, display critical thinking, analysis, research, application of course concepts, write in your own words, and demonstrate a high degree of effective communication (i.e.,formal business writing with proper grammar and punctuation).
The following are concepts you should consider for discussion within your report:
Address the reasons for and benefits of budgeting.
Discuss the concept of using budgets for variance analysis and strategy.
Searching within the 746 page downloadable Managerial Accounting Volume II in the e-readings you will find highlights of padding in budgeting where managers budget low expectations to enable actual results to look good. (Hint: Search for the word “padd” to allow for variations). Short term positive results for rewards/recognition. This is an important concept to understand and evaluate.
How are budgets used to evaluate performance (i.e. variance analysis)?
How can and should management use variance analysis for strategic purposes?
How would a company be affected by budget strategy based on personal goals (i.e. padding the budget to make short term operational results look good) rather than budgeting based on current and future market analysis?
How might this affect sales dollars, sales volume, and profits? Consider the impact of these budgeting decision on the corporations plans for future financing, production volume and capacity (both short term and long term).
