BUS1008 Strayer FINANCE & ACCOUNTING – SENIOR ACCOUNTANT ANALYSIS

Learning Goal: I’m working on a business multi-part question and need an explanation and answer to help me learn.

DUE DATE

Week 5

Note: While representative of possible situations faced by SunsTruck Sunglasses, all scenarios in this assignment are fictional.

YOUR ROLE

For this assignment, you’ll assume the role of Senior Accountant with SunsTruck Sunglasses, and answer the three questions presented below. Your responses to these questions should be typed into the template provided OR typed directly into the assignment submission box.

WHAT IS A SENIOR ACCOUNTANT?

Senior accountants take ownership of

reporting costs, profitability, margins and expenditures for a given

business. They use the principles of accounting to analyze sales

information, create financial reports, make recommendations about the

financial health of the company, and more. They are also responsible for

training junior accounting staff.

For the last six months, SunsTruck has partnered with the discount retail store to run a pop-up sunglasses stand in their stores for a big summer promotion. Due to the high customer purchase rate, the store has requested stock for five additional stores. SunsTruck needs to increase its capacity to meet the additional demand. In order to do so, SunsTruck needs additional money.

In this assignment, you will need to help determine which type of financing option is best for your company and train your junior accountants on the accounting cycle and financial statements.

Instructions

QUESTION 1: FINANCING

The junior accounting team has assembled a Financing Report that:

    1. offers three options for securing the additional funds required to meet the new order.
    2. details the criteria Shaun, the owner of SunsTruck, would like you to consider when choosing one of the three options.

Based on this report, identify which financing option you think is the best option for SunsTruck to pursue given Shaun’s constraints. Please explain the rationale for your decision.

QUESTION 2: ACCOUNTING CYCLE

A junior accountant is working to get everything in order for the new financing and has come to you with a question about what to do next in the accounting cycle. Read the email the junior accountant sent you and identify the best next step to take in the accounting cycle. Please explain your reasoning.

QUESTION 3: FINANCIAL STATEMENTS

A potential investor has been identified, but before it is willing to commit, it has requested information about SunsTruck’s current debt from the junior accountants. Identify the correct financial statement for your junior accountants that will provide the investor with the information it has requested. Please explain to your junior accountants why you are giving them this financial statement and where the debt information is located.

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