User Account

All Pages

Evaluate the impact of the regulatory environment

Assignment Help Financial Accounting
Reference no: EM13505141

Write a six to eight (6-8) page business plan in which you:

Describe the type of business you have created including:

a. The product or service, and general staffing plan. Provide a rationale for your plan.

b. The form of your business and the benefits it offers your particular business,

c. A chart of accounts specific to your business, including a rationale as to the selection of each account. (Note: The chart of accounts is a blueprint of your business for the lender/investor. It should report the expected resources that you will consume in your business (assets), the sources of those resources (liabilities and equity), the sources of revenue, and expenditures that you expect to incur to earn those revenues. You may build a detailed chart that includes business units, divisions, product lines, etc.)

Based on the form of your business, analyze whether or not you will be required to use Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) accounting methods and how the IFRS / GAAP convergence will impact your business. Suggest how you will incorporate any changes into your books and records. (Note: You need to demonstrate to the lender/investor that you have recognized possible changes to GAAP that may impact the accounting and reporting of your accounting events.)

Prepare a pro forma balance sheet and income statement providing the assumptions made and support the valuations assigned.

Considering the value of assets (assigned per your balance sheet) used within your business, recommend two (2) specific internal controls that you will implement to protect your company's assets and resources, justifying how each will provide assurances to management. (NOTE: Safeguarding assets and protecting personal data are paramount to ensuring the viability of a business. Demonstrate to the lender/investor that your assets will be safeguarded and customer information (if applicable) will be protected.)

Based on the internal control recommendations that you made, suggest how you will implement each within your business environment, indicating how challenges or resistances will be overcome.

Evaluate the impact of the regulatory environment, including the Sarbanes-Oxley Act and other regulatory requirements, on your business venture, giving considering to how you intend to comply with the requirements and the general impact to decision making within your business.

Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

Reference no: EM13505141

Questions Cloud

How much time does he have to get out of its way : Sam heaves a shot with weight 16-lb straight upward, giving it a constant upward acceleration from rest of 45.9 m/s^2 for a height 61.0 cm. How much time does he have to get out of its way before it returns to the height of the top of his head, a ..
Find out the volume measured in a buret : Determine the volume measured in a buret of a 0.2750M solution of HCl needed to consume all the calcium carbonate in a 2.5 x 1.0 x 0.5 in block.
Find the speed of the electron just before it hits plate : Two large metal plates are parallel to each other and separated by 2 cm. they are connected to a 120 V battery. What is the speed of the electron just before it hits the positive plate
Explain what will the final temp of the calorimeter : Na2SO3, to the calorimeter above that contains 20.00g of water at 23.15 degrees C, what will the final temp of the calorimeter be when the reaction gose to completion
Evaluate the impact of the regulatory environment : Evaluate the impact of the regulatory environment, including the Sarbanes-Oxley Act and other regulatory requirements, on your business venture, giving considering to how you intend to comply with the requirements
Explain the balanced chemical reaction for the reaction : What is the balanced chemical reaction for the reaction of sodium sulfite and bleach (sodium hypochlorite(NaCLO) to produce sodium sulfate and sodium chloride
Provide encryption services : There are many ways to provide encryption services. Pretty Good Privacy (PGP) is one example of an encryption package that is readily available
Find the new charge density on the outside of the sphere : A hollow, conducting sphere with an outer radius of 0.252 m and an inner radius of 0.210 m has a uniform surface charge density of +6.57×10?6 C/m^2. find the new charge density on the outside of the sphere
Evaluate the change in entropy for reversible cooling : Calculate the change in entropy (S) for reversible cooling 1 Mole of an ideal monatomic gas from 30 degrees C to 0 degrees C under:

Reviews

Write a Review

Financial Accounting Questions & Answers

  Make a schedule computing the equity income to be recognized

In addition, Gibson sold inventory costing $90,000 to Miller for $150,000 during 2008. Miller resold $80,000 of this inventory during 2008 and the remaining $70,000 during 2009. Make a schedule computing the equity income to be recognized by Gibson..

  Preparation of journal entries for payroll accounting

Preparation of Journal entries for payroll accounting - Make the journal entry to record the February payroll, Record the journal entry for the employer's payroll taxes and Make the journal entry to record the employer's monthly payment of payroll ta..

  Journalize all entries required on the dates

Journalize all entries required on the dates, including entries to update depreciation on assets disposed of, where applicable. Cleland Corporation uses straight-line depreciation.

  Prepare comparative balance sheets and income statements

Why is Bike Company likely to prefer this method for tax purpose and usefulness of the installment method for a credit analyst in using both the balance sheet and income statement.

  Allocation of costs using activity based costingas you like

allocation of costs using activity based costing.as you like it gardening is a small gardening service that uses

  Choose a product to manufacture

Estimated sales budget, estimated direct materials budget, estimated direct labors budget, estimated manufacturing overhead budget, estimated selling and administrative expenses and an estimated income statement.

  Determine the expected full cost of the surenex engagement

Determine the expected full cost of the Surenex engagement, including an allocation of overhead. Determine the lowest amount that Connie can bill on this engagement without hurting company profit?

  Variable and absorption costing unit product costs and

variable and absorption costing unit product costs and income statements explanation of difference in net operating

  Case study analysiswhat are the four criteria used to

case study analysis.what are the four criteria used to determine the amount and timing of revenue reported in the

  1 baker company is considering the acquisition of charley

1 baker company is considering the acquisition of charley inc. to assess the amount it may be willing to pay baker

  Qvisit a local restaurant for a meal or imagine carefully

qvisit a local restaurant for a meal or imagine carefully about your most current restaurant experience.required1. list

  What are the possible incentives for managers and directors

If the financial statements of a company are misstated, whom do you think the courts and regulatory authorities will hold responsible? What are the possible incentives for managers and directors of companies to take this risk?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd