Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Accounting memo example

06/11/2020 Client: papadok01 Deadline: 2 Day

ACC 305 Writing Assignment #2: Cash and Receivables

Due Date: Wednesday, November 4 at the Start of Class

(Your assignment is late if it is not in the classroom by the beginning of class.)

Hard Copy: Bring one copy per group to class

Soft Copy: Upload one copy per group to Isidore

For late submissions within a week of the due date at the beginning of class, 50% of your grade will be deducted. Late submissions after a week of the due date will NOT be accepted. Late submissions that arrive during class will receive a 10% penalty.

Assignment Goals:

· Obtain research experience in the Accounting Standards Codification

· Obtain experience using SEC filings and the SEC website

· Practice writing concise accounting-related deliverables

Assignment: You may complete the assignment on your own or in a group of two students. (You need to find your own group.)

Background and Requirements:

Before beginning this assignment, go to www.sec.gov Filings Company filings search to find the June 30, 2016 10-K for The Madison Square Garden Company. (Recall that the 10-K is filed weeks or even months after the fiscal year end.)

After graduating from the University of Dayton, you joined KPMG and became a team member on The Madison Square Garden Company (the Company) audit engagement. (Note: This company is not the same as “MSG Networks, Inc.”) The audit of cash and cash equivalents, as well as receivables, is your responsibility, and your senior (supervisor) on the audit team has asked you to perform research in the FASB’s Accounting Standards Codification and write a research memo answering questions on the following accounting issues.

Hint: Make sure you read the first few pages of Item 1. Business in the 10-K to obtain the appropriate background on your client. Similar information can be found in Note 1 to the financial statements. Also, look at the 10-K areas referenced below so that you understand the nature of the issues and can appropriately summarize the background for each issue in your memo. I have not provided all of the details in the prompt, as I would like for you to navigate the 10-K.

Relevant information sources for Issue #1 background:

Balance sheet in 10-K

Note 1 to financial statements in 10-K (Accounting policies are usually described in Note 1

or Note 2.)

Assume MSG’s June 30, 2016 cash and cash equivalents balance includes

------- $500,000 of 2-year U.S. Treasury notes purchased by MSG on May 15, 2016

and due on July 15, 2016

------- $300,000 of 1-year U.S. Treasury notes purchased by MSG on July 15, 2015

And due on July 15, 2016

Issue #1 – Should Madison Square Garden Company include certain U.S. Treasury notes in cash and cash equivalents?

Note: Your response should be based on your research in the codification – not the company’s policy. Also, it is not acceptable to copy and paste language from the 10-K. Use your own language in the background.

Relevant information sources for Issue #2 background:

Balance sheet in 10-K

Note 1 to financial statements in 10-K (Accounting policies are usually described in Note 1

or Note 2.)

Issue #2 – Should amounts in “restricted cash” be presented as “restricted cash” or “cash and cash equivalents”?

Note: Your response should be based on your research in the codification – not the company’s policy. Also, it is not acceptable to copy and paste language from the 10-K. Use your own language in the background.

Relevant information sources for Issue #3 background:

Balance sheet in 10-K

Note 12

Issue #3 – Is Madison Square Garden Company required to present related party accounts receivable on a separate line on the balance sheet?

Note: Your response should be based on your research in the codification – not the company’s policy. Also, it is not acceptable to copy and paste language from the 10-K. Use your own language in the background.

Relevant information sources for Issue #4 background:

Note 12 – Related Party Transactions (Other parts of the 10-K could be helpful.)

Issue #4 – Is Madison Square Garden Company required to disclose the names of its related parties?

Note: Your response should be based on your research in the codification, as well as your reading of the 10-K. You do not need to summarize every, single detail in Note 12 in your background, but do use specific examples from Note 12 as illustrations.

Note: The memo will be graded for content, research, and writing. See next pages for additional details on expectations.

Expectations for Writing and Research Assignment:

Acceptable Resources

· You may only use the resources (appropriately cited) mentioned above in this assignment. You do not need to cite the 10-K, but you do need to cite the Accounting Standards Codification.

· The Accounting Standards Codification is available at http://aaahq.org/ascLogin.cfm. (user ID: AAA51174 and Password: 3UsZa3U)

· Knowledge Hub: You may use writing support from the Knowledge Hub for this assignment. In the Knowledge Hub, all UD students can receive free research and writing assistance on any assignment, at any stage of the writing process.

· You must complete the assignment individually or in a group of two, and you may not share answers with students who are not in your group. Using resources other than your textbook and those resources mentioned in this assignment (e.g., classmates who are not in your group, parents, CPA friends, other students’ prior course memos, assignments that you find online) is a violation of the Honor Code. See the syllabus and Honor Code to understand implications of completing the assignment using unauthorized assistance.

· It is not appropriate to copy background language directly from this assignment or from the 10-K. Use your own words.

Format

· Prepare a memo using the format in the Appendix attached. An example of a written memo is on Isidore.

· Length: Your write-up should be no more than three pages in length

· Spacing: Single-spaced

· Font size and Style: 12 point Times New Roman

· Margins: One-inch on all sides

· Finishing: Pages should be stapled together.

· Footer: Insert page numbers in the footer.

· Cover Sheet: A cover sheet is not necessary.

· Single or Doubled Sided: Single or double sided printing is acceptable.

· Use the APA format to cite the sources. Citations are not counted as a page.

· An appropriate in-text reference to the ASC is generally in the following format: XXX-XX-XX-XX

· Provide proper citations and references. Keep in mind that your textbook is not an appropriate source to cite in this assignment. References should be to the codification.

Writing (See below for questions to ask yourself when you self-review your memo.)

· Your write-up should be clear, concise, complete, free of spelling and grammatical errors, and professional looking (e.g., no “orphan” headings or subheadings).

· The assignment will be graded on the quality of the writing (see Appendix 2) in addition to the quality of the discussion of the accounting issues.

· Your memorandum should be written in a manner that enables a 3rd party who is independent of the issue to understand the issue, relevant research, and your interpretation of the research.

As you proofread your assignment, consider the following items:

· Would someone unfamiliar with the company and the issues (a 3rd party) be able to understand the issues?

· Would someone unfamiliar with the research you are citing (a 3rd party) be able to understand 1) what you found in the codification and 2) how you arrived at your conclusions? (You are encouraged to include well-cited quotes from the codification.)

· Do your tone and word choice fit your audience and the purpose of the memo (e.g., no contractions, no casual phrases)?

· Do you avoid contractions?

· Is your writing grammatically correct?

· Do you refer to a company as an “it” as opposed to a “they”?

· Do you use “its” (possessive) correctly?

· Do you avoid sentence fragments?

· Is your writing concise and easy to read? (Business memos do not require large words or complex phrases.)

· Does the memo flow from one section to another?

· Do you avoid passive writing?

· Are your conclusions clearly stated?

· Does your research and your analysis lead to the conclusions that you have stated?

Academic Honesty:
Here is some advice to help you avoid plagiarizing:

It is best to express the ideas you use in your own words. In the case of both individual and group work, words or ideas that come from someplace or someone else must be cited: “A good rule of thumb is this: Whenever you consciously borrow any important element from someone else, any sentence, any colorful phrase or original term, any plan or idea—say so, either in a footnote, bibliography, or parenthesis” (from “Academic Honesty in the Writing of Essays and Other Papers,” Carleton College, 1990).

Appendix 1

Memorandum Format

MEMORANDUM

To: The Madison Square Garden Company, Inc. Audit Files

From: Student name

Date: November XX, 2016

Re: Cash and Accounts Receivable Issues

Background and Facts

Please see examples on Isidore for further ideas on what to include in each section. This section can be a brief overview of the company and a sentence or two that summarizes the purpose of the memo. It is acceptable to state “The purpose of the memorandum is to….”

Issues

Issue 1: Should Madison Square Garden Company include certain U.S. Treasury notes in cash and cash equivalents?

Issue 1: Background

Tip: Make sure a 3rd party (unfamiliar with the issue) can understand the issue at hand and the significance of the issue based on your background

Issue 1: Research and Analysis

Tip: Make sure this section includes 1) what you find in the codification and 2) your interpretation of what you find in the codification and how it applies to MSG and leads to your conclusion.

Issue 2: Should amounts in “restricted cash” be presented as “restricted cash” or “cash and cash equivalents”?

Issue 2: Background

Issue 2: Research and Analysis

Issue 3 : Is Madison Square Garden Company required to present related party accounts receivable on a separate line on the balance sheet?

Issue 3: Background

Issue 3: Research and Analysis

Issue 4 : Is Madison Square Garden Company required to disclose the names of its related parties?

Issue 4: Background

Issue 4: Research and Analysis

Conclusion

Financial Statement Impacts

In this section, briefly summarize the impact that the above conclusions will have on the financial statement.

5

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Writer Writer Name Offer Chat

Writers are writing their proposals. Just wait here to get the offers for your project...

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

1628 jasmine drive schertz tx - Organization Leader and Decision Making - Discussion - Brown black green gold resistor - Shenton college music program - Paper - 1 2 languages scotland - Criteria for evaluating electronic resources - Final fantasy xv negotiation answers - Arm span vs height data - Week 7 - Stable marriage problem ppt - Rounding to the nearest 10 and 100 worksheet - Grande polonaise brillante difficulty - Marshall rosenberg making life wonderful - Crisis payment from centrelink - La comarca de cibao, en la república dominicana, quiere promover (promote) el - You re the psychologist worksheet answers - Killing us softly 4 free online - Urgent Small Discussion due in 2 hours - Sociology questions about social media - Maori designs and meanings - What is classical school of management - Hhmi lizard evolution virtual lab answers - Unit 8 Pharmacology Self-Reflection Assignment - Who is responsible for kiowa's death - Hewlett packard setup utility - Essential advanced general mathematics pdf download - Discovering wes moore chapter summary - First state bank macomb il - The calculation of stockholder wealth involves - Delta airlines case study strategic management - Kim Woods only - Conservation of linear momentum experiment answers - Is zinc a reducing agent - Mk wiring accessories catalogue pdf - Role and Scope Module 7 written Concept Map - 200/3 as a mixed number - Due Friday by 3 pm - Vertical translation of a parabola - After you’ve mulled the assignment and before you rehearse the assignment, you need to - Hydrolysis of t butyl chloride lab report - Is the world flat or spiky - Vikings sometimes camouflaged their ships to look like _______ - Multicultural social justice counseling competencies - Down under products ltd of australia has budgeted sales - Pizza hut value chain analysis - 3-4 paragraphs Cohesive response for Business - Sherrod v kidddetermine an lcs of h1; 0; 0; 1; 0; 1; 0; 1i and h0; 1; 0; 1; 1; 0; 1; 1; 0i. - Middle road media case study - SCIN Elemental Discovery and Application - Aseptic technique lab report answers - Ids 100 project 2 kwl chart template - Middlesex hospital blood test - A writers reference 7th edition by diana hacker - How to make a daisy head mayzie headband - Eucerin wool alcohols ointment anhydrous - Undershoot north overshoot south - The jilting of granny weatherall literary analysis answers - Marketing strategies business studies - Marshall barnes warp drive - Hope by lisel mueller - Themes in so long a letter by mariama ba pdf - Music2go - Distracted Driver Project proposal - 6 band resistor color code - File submission: Annotated Bibliography - Critical incident technique interview - One systems 104 hth - Bus timetable central coast - Forensic science multiple choice questions and answers pdf - All quiet on the western front chapter 4 quotes - Insider trading involves course hero - Grit and growth mindset university of phoenix - Balance sheet ratio analysis excel - Macromedia studio 8 download - ECON - Chartford homes cookridge leeds - Final check the salem witches chapter 16 answers - Zoot suit henry reyna - Managerial finance - What is an ecomap in nursing - Jbhifi gift card refund - Dot rotten petrol bomb - Anxiety Disorders in the Media - Richard burton poetry recordings - Business valuation report template - 1 chlorobutane sn1 or sn2 - Ssf wisdom scholarship 2018 results - Harvey norman knox westfield - 3/4-5 acme thread dimensions - Probability and stochastic processes yates 3rd edition - Death stands above me by walter savage landor - Tesla inc case study - Dual-career families effects on human resources - Calcium chloride solution colour - Middle Ages/ Renaissance - Arden company reported the following costs and expenses - Statistic Test - As nzs 3017 free download - Cisco nm ce bp