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 purpose

17/03/2021 Client: saad24vbs Deadline: 24 Hours

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”?

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:

Top Academic Tutor
Buy Coursework Help
Top Quality Assignments
Assignment Guru
Quick Mentor
Peter O.
Writer Writer Name Offer Chat
Top Academic Tutor

ONLINE

Top Academic Tutor

I will cover all the points which you have mentioned in your project details.

$17 Chat With Writer
Buy Coursework Help

ONLINE

Buy Coursework Help

Give me a chance, i will do this with my best efforts

$25 Chat With Writer
Top Quality Assignments

ONLINE

Top Quality Assignments

Give me a chance, i will do this with my best efforts

$23 Chat With Writer
Assignment Guru

ONLINE

Assignment Guru

Give me a chance, i will do this with my best efforts

$19 Chat With Writer
Quick Mentor

ONLINE

Quick Mentor

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$16 Chat With Writer
Peter O.

ONLINE

Peter O.

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$23 Chat With Writer

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

Similar Homework Questions

Tim 105 ucsc - Enc 1101 broward college syllabus - Pole vaulting pole length - Research paper - 3 pages APA 7th edition Must -Please dont copy - Accounting activities in an organisation - Affidavit of loss id sample - What is a purpose statement in research - Linuxzoo - Nursing theory utilization and application - Tier 3 social studies words - Chemistry - Theme - Project sponsorship almost always resides at the executive levels - Fear and odin in the shroud - Practical Connection Project: Introduction to Data Mining - Festival and special event management 5th edition pdf - Monotone convergence theorem expectation - Powerpoint - Name two causes of the great depression - Article reviews - Black madonna secret life of bees - Chapter 14 statement of cash flows solutions - Python readlines vs readline - The wrong place by susan michalski - What is sony's mission statement - Essen of business communication w bind in access - Interpret collinearity diagnostics table spss - Chase bank watchung plaza nj - Merits and demerits of factorial experiment in statistics - Counseling coaching and mentoring leading marines answers - Rocky ridge music center - What Makes You Happy - What literature is now contained in the fasb asc - Naeyc code of ethical conduct powerpoint - Cisco telepresence mcu 4500 series - Caught in the crowd kate miller - Av jennings home plans - Quartered safe out here sparknotes - Skill Builder #5 - Leonora carrington short stories pdf - Purpose of monitoring inspections - King james 1 macbeth - Jerry greenfield net worth - The heat of solution of nh4cl - My bounty is as boundless as the sea literary device - Research Paper - MHA/520 - DISCUSSION REPLY - A eassy - Working capital is current assets minus current liabilities - Nurses making policy from bedside to boardroom 2nd edition - Essentials of lifespan development 6th edition - Computer Science - ENGLISH GRAMMER - Cloud Computing - Chapter 18 campaign for independence summary - Dq - Freedom ride charles perkins - Vanilla coke and mentos - Position paper 2.0 - Intensive distribution exclusive distribution selective distribution franchising - Woolworths qantas credit card - Usa''!love vashikaran specialist molvi ji+91-9829644411 - Alisha incorporated manufactures medical stents - Jbl eon musicmix 10 - Art society of tasmania - Broomstick stretch for shoulder impingement - HA570 Unit 9 Discussion - Vce english language metalanguage list - Mars wrigley canada head office - Separation costs capsim - Mufaro's beautiful daughters story pdf - National center for case study teaching in science answers - Letter to school board from parent - Coles organic steel cut oats - Wuthering heights chapter 14 - According to gonzalez what is the connotation of appassionato - New practice approaches in nursing - Tenable remediation summary - Responding - Mcgraw hill connect anatomy and physiology saladin - How to address key selection criteria - Math calculus - Coconut oil enema implant - What is the value of a hanging drop preparation - Triage assessment form for crisis intervention - On her knees analysis - How to win cesim simulation game - Summary of vice presidential debate - How AI is Shaping the Digital World - Solving algebraic equations games - Essay question - Cisco content security management appliance user guide - Hku residential college application - Job package due today! job:social media - Special right triangles find the missing sides - Moral evil vs natural evil - Cisco asr1001 x ios upgrade procedure - Nr 511 week 4 midterm - Sw plc stakeholder pension