Even complicated and confusing topics will be easily developed and covered if you request our help writing an essay. Place an order today!

Resources
  • Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC)
  • Tutorial help on Excel and Word functions can be found on the Microsoft Office website. There are also additional tutorials via the web offering support for Office products.
Assignment Steps

Scenario:BizCon, a consulting firm, has just completed its first year of operations. The company's sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day financing - meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year.

As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments.

Preparethe memo in 700 words including the following information to better outline the situation:

  • Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting.
  • Assess how at the end of the year, BizCon reported a favorable net income, yet the company's management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash.

testimonials icon
need help John began his job making $25 the first day. After that he was paid $6.75 per hour. y = 6.75x + 25. Us...
testimonials icon
Thank you....
testimonials icon
/*! elementor - v3.6.5 - 27-04-2022 */ .elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading...
testimonials icon
Discussion: Controller Design (Direct Pole Placement)Instructions:...
testimonials icon
Overview It is December 2008, and you have just accepted an appointmen as the Chief Financial Officer (CFO) position at Midwest Healthcare System....
testimonials icon
Solve problem:PROBLEM 4-29, Assume that you aunt sold her house on December 31, and to help close the sale she took a second mortgage...
testimonials icon
Accounts ReceivableNet salesFinancial Analysis: Columbia2014344,3902,100,590Receivable turnover (Net sales / Average accounts receivable)Average coll...
testimonials icon
I have two discussion question as well as a 2 papers that are due ASAP!! I can send my log in information because I attend classes online. On the d...
testimonials icon
Throughout this course, you analyzed your current work environment to identify their acquiring, developing, and training practices. Employees are t...
testimonials icon
Part 1:Please respond to the following:• Identify three (3) new concepts you did not previously have any background on...
testimonials icon
Health Care Facility Buying Decision ProcessThe buying process is a major issue for all health care companies as there are expira...

Other samples, services and questions:

Calculate Price

When you use PaperHelp, you save one valuable — TIME

You can spend it for more important things than paper writing.

Approx. price
$65
Order a paper. Study better. Sleep tight. Calculate Price!
Created with Sketch.
Calculate Price
Approx. price
$65