M2 oaes assigned questions | Accounting homework help

Module  Readings:  

Complete the following readings early in the module:      

Read the online lectures for the Module      

From the textbook, Accounting for Managers: Interpreting Accounting Information for Decision Making, 5th, read the following chapters:         

Chapter 6: Constructing Financial Statements: IFRS and the Framework of Accounting 


Chapter 6 textbook Microsoft PowerPoint slides         

Chapter 7: Interpreting Financial Statements             

Chapter 7 textbook Microsoft PowerPoint slides         

Chapter 8: Accounting for Inventory            

Chapter 8 textbook Microsoft PowerPoint slides

Module Overview:

While driving, you always follow traffic rules. Without adherence to traffic rules, there would be chaos on the roads. Similarly, if organizations do not follow rules or standard accounting practices to record data, users might incorrectly interpret financial results. In addition, it will be difficult for external users, such as shareholders and investors, to compare and evaluate financial statements of different companies. Without standardization, they will be unable to make correct decisions about their investments. Therefore, accounting information requires a logical set of practices to provide a general frame of reference by which it can be evaluated.  

This module explains accounting practices. It also explains why uniformity in accounting practices is important and how it can be obtained. 

Accounting and Recording Principles  

One of the basic objectives of accounting is to convey information. This is achieved by different financial statements prepared for business—the most important statements being the balance sheet, the income statement, the statement of cash flow, and the statement of owner’s equity. Different companies may call these statements by different names, but they represent the same basic documents. For instance, the balance sheet may be referred to as the statement of financial position or assets in excess of liabilities. Similarly, the income statement may be referred to as the statement of operations or the statement of revenues over expenses. 

The Balance Sheet  

The balance sheet includes a summary of assets (both current and long-term assets), current and long-term liabilities, and owner’s equity. Current assets are defined as assets that are either cash, or can be converted into cash in a short period (usually within one year). Current assets are more liquid assets. This list also includes the debt of the company called current liabilities.  

These debts are expected to be paid off within one year or less. If assets or liabilities are not current, they are considered long-term. Both assets and liabilities are presented on the financial statement in order of liquidity. One other very important matter is that the balance sheet is the only permanent financial statement of the company. The balance sheet contains the balances of all assets, liabilities, and equity AT the date of the statement. The balance sheet is therefore a balance-forward statement, and the balance presented could be from any time on or before the presentation date of the statement. This is different from every other financial statement.

Read the Success on the OAES document for full instructions about how to use this system.  

Assigned questions for the Module are:

Q6-1: What are accounting standards?

Q6-2: Summarize the IASB’s Framework for the Preparation and Presentation of Financial Statements.

Q6-3: A business has the following balances in its financial records: Income tax £30,000; Selling & administration expenses £80,000; Revenue £350,000; Interest expenses £15,000; Cost of Sales £190,000. How much is the Gross profit, Operating profit, and the Net Profit after tax?

Q6-4: What are some ways you can express the accounting equation?  

Q6-5: The following items appear in a Statement of Financial Position: Receivables €200,000; Payables €350,000; Inventory €100,000; Non-current assets €750,000; Long-term loan €400,000. What is the balance of Shareholders’ funds (SH Equity)?  

Q6-6: ABC buys a smaller company XYZ for a negotiated price of £1 million. XYZ’s assets are valued at £750,000. Assuming goodwill is amortized over 5 years, what is the value of goodwill in ABC’s Statement of Financial Position at the end of the third year after acquisition?  

Q6-7: What is Agency theory and what is it primarily concerned with?  

Q7-1: What is the difference between ROI and ROCE ratios?  

Q7-2: Use the following information extracted from ABC’s Income Statement and Balance sheet to determine ABC’s Days Sales Outstanding, Inventory Turn, and Payables Days Outstanding:

Sales £4,200,000; Gross profit £2,700,000; Receivables £630,000; Payables £275,000; Inventory £300,000. ABC calculates its financial ratios based on being open for business 6 days per week for 50 weeks per year.

Q7-3: A company has capital employed of €1,000,000 and generates a profit after tax of €300,000. Assume the company has a balance sheet with 60% debt. What is the ROI? Now assume the company has a balance sheet with 40% debt. What is the ROI?  

Q7-4: A business has current assets of $35,000 and current liabilities of $20,000. It collects its receivables more quickly and uses $10,000 of its cash at bank to repay a long-term debt. What is the effect on the working capital ratio after the long-term debt is repaid?  

Q8-1: How is inventory valued in the Balance Sheet (Statement of Financial Position)?  

Q8-2: In a manufacturing business, when the company has completed production on inventory it wishes to sale, explain flow of costs for affected inventory accounts.  

Q8-3: A business purchases inventory stock on four separate occasions. Purchased 3,500 units at a total cost of €8,050; Purchased 3,000 units at a total cost of €7,110; Purchased 4,000 units at a total cost of €9,600; and Sold 5,995 units at a total price of €24,760. Each purchase was completed in the order provided within the same period. Match the inventory method with the correct cost of sales and the correct value of inventory.

Success on the OAES document  full instructions about how to use this system.  Assigned questions for the Module  are:

The OAE S: What to Expect The Online Assignment Entry System (OAES) was developed to facilitate an improved check –  your -knowledge environment which substantially increases student comprehension. The OAES  allows you to validate your learned knowledge by recording your answers and providing the  opportunity to make any corrections. The purpose of this paper is to instruct you on how to use  this method of knowledge review.

The OAE S: What to Expect The Online Assignment Entry System (OAES) was developed to facilitate an improved check –  your -knowledge environment which substantially increases student comprehension. The OAES  allows you to validate your learned knowledge by recording your answers and providing the  opportunity to make any corrections. The purpose of this paper is to instruct you on how to use  this method of knowledge review. 

For success on the OAES, please review the detailed instructions that follow to prepare for each  of the graded OAES Entry Quiz assessments.

OAES Process  Overview • Question Identification  Key • Procedure for Completing OAES  checks

OAES Process Overview 

The following process overview explains the basic flow of activity. 

Stage /Description 

1.           Read the required material for the assigned module. 

2.          Work the examples and sample problems included with the reading. Complete work  on the OA E S Assigned Questions. Make sure you have the correct answers. 

Essay Help
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.