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Assignments.
The assignments in this course are openly licensed, and are available as-is, or can be modified to suit your students’ needs. Answer keys are available to faculty who adopt Lumen Learning courses with paid support. This approach helps us protect the academic integrity of these materials by ensuring they are shared only with authorized and institution-affiliated faculty and staff.
If you import this course into your learning management system (Blackboard, Canvas, etc.), the assignments will automatically be loaded into the assignment tool.
You can view them below or throughout the course.
- Module 0: Personal Accounting— Assignment: Creating a Budget
- Module 1: The Role of Accounting in Business— Assignment: Lopez Consulting
- Module 2: Accounting Principles— Assignment: Accounting Principles
- Module 3: Recording Business Transactions— Assignment: Recording Business Transactions
- Module 4: Completing the Accounting Cycle— Assignment: Completing the Accounting Cycle
- Module 5: Accounting for Cash— Assignment: Accounting for Cash
- Module 6: Receivables and Revenue— Assignment: Manilow Aging Analysis
- Module 7: Merchandising Operations— Assignment: Merchandising Operations
- Module 8: Inventory Valuation Methods— Assignment: Inventory Valuation Methods
- Module 9: Property, Plant, and Equipment— Assignment: Property, Plant, and Equipment
- Module 10: Other Assets— Assignment: Other Current and Noncurrent Assets
- Module 11: Current Liabilities— Assignment: Calculating Payroll at Kipley Co
- Module 12: Non-Current Liabilities— Assignment: Non-Current Liabilities
- Module 13: Accounting for Corporations— Assignment: Collins Mfg Stockholders’ Equity
- Module 14: Statement of Cash Flows— Assignment: Kachina Sports Company Cash Flows
- Module 15: Financial Statement Analysis— Assignment: Coca Cola FSA
Discussions
The following discussion assignments will also be preloaded (into the discussion-board tool) in your learning management system if you import the course. They can be used as is, modified, or removed. You can view them below or throughout the course.
- Module 0: Personal Accounting— Discussion: Winning the Lottery
- Module 1: The Role of Accounting in Business— Discussion: The Crafty Coffee Crook
- Module 2: Accounting Principles— Discussion: SoftSheets
- Module 3: Recording Business Transactions— Discussion: Baker’s Breakfast Bars
- Module 4: Completing the Accounting Cycle— Discussion: Closing the Books in QuickBooks
- Module 5: Accounting for Cash— Discussion: Counter Culture Cafe
- Module 6: Receivables and Revenue— Discussion: Maximizing Revenue
- Module 7: Merchandising Operations— Discussion: Inventory Controls
- Module 8: Inventory Valuation Methods— Discussion: LIFO, FIFO, Specific Identification, and Weighted Average
- Module 9: Property, Plant, and Equipment— Discussion: Cooking the Books
- Module 10: Other Assets— Discussion: Other Assets
- Module 11: Current Liabilities— Discussion: Current Liabilities
- Module 12: Non-Current Liabilities— Discussion: Off-Balance Sheet Financing
- Module 13: Accounting for Corporations— Discussion: Home Depot
- Module 14: Statement of Cash Flows— Discussion: Facebook, Inc.
- Module 15: Financial Statement Analysis— Discussion: Financial Statement Analysis
Alternative Excel-Based Assignments
For Modules 3–15, additional excel-based assignments are available below.
Module 3: Recording Business Transactions
- Module 3 Excel Assignment A
- Module 3 Excel Assignment B
Module 4: The Accounting Cycle
- Module 4 Excel Assignment A
- Module 4 Excel Assignment B
- Module 4 Excel Assignment C
- Module 4 Excel Assignment D
Module 5: Accounting for Cash
- Module 5 Excel Assignment
Module 6: Receivables and Revenue
- Module 6 Excel Assignment A
- Module 6 Excel Assignment B
Module 7: Merchandising Operations
- Module 7 Excel Assignment
Module 8: Inventory Valuation Methods
- Module 8 Excel Assignment A
- Module 8 Excel Assignment B
- Module 8 Excel Assignment C
Module 9: Property, Plant, and Equipment
- Module 9 Excel Assignment A
- Module 9 Excel Assignment B
Module 10: Other Assets
- Module 10 Excel Assignment
Module 11: Current Liabilities
- Module 11 Excel Assignment
Module 12: Non-Current Liabilities
- Module 12 Excel Assignment A
- Module 12 Excel Assignment B
Module 13: Accounting for Corporations
- Module 13 Excel Assignment A
- Module 13 Excel Assignment B
- Module 13 Excel Assignment C
Module 14: Statement of Cash Flows
- Module 14 Excel Assignment A
- Module 14 Excel Assignment B
Module 15: Financial Statement Analysis
- Module 15 Excel Assignment
Review Problems
There are also three unit review assignments and a final review. These reviews include a document which sets up the problems and an excel worksheet.
Unit 1 Review Problem (After Module 6)
- Review Problem Document
Unit 2 Review Problem (After Module 8)
Unit 3 review problem (after module 9), final review (after module 15).
- Assignments. Authored by : Cindy Moore and Joe Cooke. Provided by : Lumen Learning. License : CC BY: Attribution
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Assignment: Definition in Finance, How It Works, and Examples
Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.
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Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate.
:max_bytes(150000):strip_icc():format(webp)/YariletPerez-d2289cb01c3c4f2aabf79ce6057e5078.jpg "what is financial accounting assignment")
What Is an Assignment?
Assignment most often refers to one of two definitions in the financial world:
- The transfer of an individual's rights or property to another person or business. This concept exists in a variety of business transactions and is often spelled out contractually.
- In trading, assignment occurs when an option contract is exercised. The owner of the contract exercises the contract and assigns the option writer to an obligation to complete the requirements of the contract.
Key Takeaways
- Assignment is a transfer of rights or property from one party to another.
- Options assignments occur when option buyers exercise their rights to a position in a security.
- Other examples of assignments can be found in wages, mortgages, and leases.
Property Rights Assignment
Assignment refers to the transfer of some or all property rights and obligations associated with an asset, property, contract, etc. to another entity through a written agreement. For example, a payee assigns rights for collecting note payments to a bank. A trademark owner transfers, sells, or gives another person interest in the trademark. A homeowner who sells their house assigns the deed to the new buyer.
To be effective, an assignment must involve parties with legal capacity, consideration, consent, and legality of object.
A wage assignment is a forced payment of an obligation by automatic withholding from an employee’s pay. Courts issue wage assignments for people late with child or spousal support, taxes, loans, or other obligations. Money is automatically subtracted from a worker's paycheck without consent if they have a history of nonpayment. For example, a person delinquent on $100 monthly loan payments has a wage assignment deducting the money from their paycheck and sent to the lender. Wage assignments are helpful in paying back long-term debts.
Another instance can be found in a mortgage assignment. This is where a mortgage deed gives a lender interest in a mortgaged property in return for payments received. Lenders often sell mortgages to third parties, such as other lenders. A mortgage assignment document clarifies the assignment of contract and instructs the borrower in making future mortgage payments, and potentially modifies the mortgage terms.
A final example involves a lease assignment. This benefits a relocating tenant wanting to end a lease early or a landlord looking for rent payments to pay creditors. Once the new tenant signs the lease, taking over responsibility for rent payments and other obligations, the previous tenant is released from those responsibilities. In a separate lease assignment, a landlord agrees to pay a creditor through an assignment of rent due under rental property leases. The agreement is used to pay a mortgage lender if the landlord defaults on the loan or files for bankruptcy . Any rental income would then be paid directly to the lender.
Options Assignment
Options can be assigned when a buyer decides to exercise their right to buy (or sell) stock at a particular strike price . The corresponding seller of the option is not determined when a buyer opens an option trade, but only at the time that an option holder decides to exercise their right to buy stock. So an option seller with open positions is matched with the exercising buyer via automated lottery. The randomly selected seller is then assigned to fulfill the buyer's rights. This is known as an option assignment.
Once assigned, the writer (seller) of the option will have the obligation to sell (if a call option ) or buy (if a put option ) the designated number of shares of stock at the agreed-upon price (the strike price). For instance, if the writer sold calls they would be obligated to sell the stock, and the process is often referred to as having the stock called away . For puts, the buyer of the option sells stock (puts stock shares) to the writer in the form of a short-sold position.
Suppose a trader owns 100 call options on company ABC's stock with a strike price of $10 per share. The stock is now trading at $30 and ABC is due to pay a dividend shortly. As a result, the trader exercises the options early and receives 10,000 shares of ABC paid at $10. At the same time, the other side of the long call (the short call) is assigned the contract and must deliver the shares to the long.
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Financial Accounting Assignment Help
What is advanced financial accounting, what is reporting standard in financial accounting, what is cash flow statement analysis why is it necessary for public entities, why take financial accounting help from professionals.
Financial accounting deals with financial statements prepared for decision makers such as suppliers, stakeholders, employees, banks, agencies and owners etcetera. According to Investopedia, Financial Accounting can be defined as the process of reporting, summarising and recording business transactions over a period of time. Summarising these transactions is necessary at the time of preparing balance sheet, income statement, financial statements, and cash flow statement. Accounting (Financial) is often considered a tough subject because of the involvement of a number of mathematical applications and concepts. In order to bridge the gap between these concepts and students understanding of these concepts, universities devise assessments that cover all the topics that fall under the financial accounting umbrella. However, it requires students to understand the entire financial accounting theories and principles in depth. This is why most students prefer taking financial accounting assignment help from experts online. Let’s take a look at the different financial accounting assignment help students usually require while undergoing the course.
Advanced financial accounting deals with issues in application of the following;
- Creative Accounting
- Reporting Standards that are Financial
- Viewpoint of Liabilities and Assets
- Fixed Asset Accounting
- Assets of the Public
- Intangible Assets
- Construction Contracts
- Liabilities
- Business Combinations
- Financial Instruments
My Assignment services has a team of subject-matter experts who are well-versed in providing advanced financial accounting assignment help to students from Australian universities and all over the globe. Our financial accounting assignment experts follow a comprehensive approach while providing advanced financial accounting help. They first understand the assignment requirements and then proceed to solve the assessment with informative content from credible sources and peer-reviewed journals, while following the marking rubric at the same time. This ensures that your financial accounting assignments are precise and up to the university standards. An important unit in both financial accounting assignments as well as advanced financial accounting is - reporting standards. Let’s take a look at what reporting standards are, and how our financial accounting assignment writing services can help you achieve high distinction in your reporting standard assignments.
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International Financial reporting Standards are standards issued by International Financial Reporting Standards Foundation to simplify business communications globally and to bring businesses together by using a common set of standards for financial transactions. Financial reporting is used as a communication to reflect the performance of a company to its stakeholders and the public. It talks about the organisation’s performance for a given period of time like a financial quarter. In general, these reports are prepared quarterly or annually. My Assignment services provides impeccable assignment help for financial accounting and reporting standards. Our experts are well-versed with the basics and advanced knowledge in financial accounting and reporting standards. For example, our experts understand the concept and methodology used to prepare Balance Sheets and Income Statement, two of the most important factor that determine financial reporting. Let’s take a brief look at both of these components.
Balance Sheet: According to our financial accounting assignment experts, Balance Sheet is the most rudimentary statement that delivers a glimpse of an organisation’s liabilities and assets. This makes it easier for the stakeholder and public to understand what the company owns and how it is managing the finances for its requirements. Our financial accounting assignment experts are familiar with the different terms in balance sheets such as:
- Derivatives
Income Statement: According to our financial accounting assignment help experts, Income Statement is also known as Profit & Loss Statement because they communicate the financial performance of an organisation to its stakeholders and investors. Like the basics of accounting principles state, if the organisation expenses overreach organisation’s overall earning, the organisation has suffered loss and vice-versa.
Our financial accounting help is for students who have undertaken finance as their core subject. We have over a decade of experience in providing advanced financial accounting assignment help and this is why most of our experts are already well-versed with different university guidelines and requirements. They understand the marking rubric perfectly well and give the required focus on each section and sub-section of the assignment. You can directly call us to look at some of our financial accounting assignment samples such as;
- Financial Accounting Theory Assignment Help
- Capital Budgeting Assignment Help
- Behavioural Finance Accounting Assignment Help
- Business Finance Assignment Help
- Public Finance Assignment Help
- Financial Management Assignment Help
Our advanced financial accounting assignment help is not limited to the above mentioned topics. Our finance accounting assignment experts are also well-versed with the mandatory financial statements of public organisations like Cash Flow Statement Analysis, let’s take a look at what you will get if you take our online cash flow statement analysis assignment help.
According to our advanced financial accounting assignment help experts, the objective of Cash Flow Statement Analysis is to determine how the organisation’s cash generates, i.e. cash inflows, and where is the cash being spent by the organisation, i.e. cash outflows. Here are some of the components that our financial accounting assignment help experts are well-versed in. These cash flow statement analysis components are widely studied and are often the major part of an assignment.
- Operating Activities
- Investing Activities
- Finance Activities
The cash flow statement analysis is one of the three mandatory financial statements required by public entities. The other two being balance sheet as well as income statement. The below info-graphic explains the format of Cash Flow Statement.
Now that we have covered cash flow statement analysis, let’s understand what balance sheet analysis is. According to our advanced financial accounting assignment experts, the analysis of an organisation’s liabilities, assets and equities is known as balance sheet analysis. Balance sheet analysis process derives figures related to liabilities, revenues and assets of any organisation. Our financial accounting assignment writing services is known for providing accurate assignments on balance sheet analysis. Not just that, our experts of accounting assignment help have years of practical and in-job experience of financial accounting in decision-making for organisations. This is why they understand every facet of financial accounting and provide a well-written, properly structured financial accounting assignment. Let’s take a look at the different topics that My Assignment Services have provided assignments on:
- Recording of Transactions Assignment Help: Transactions of an organisation are recorded in a journal, also known as, book of original entry. Our advanced accounting assignment help experts have a clear and in-depth idea about bookkeeping or recording of transaction or journalising, as it is often referred as.
- Solvency Position of Business Assignment Help: According to our financial accounting assignment help experts, solvency position or solvency ratio is the point or metric that is utilised to gauge an organisation’s capability to meet its obligations such as outstanding debts. You can contact our subject-matter experts and know more about how they approach solvency ratio assignments.
- Analysing Annual Reports Assignment Help: Annual reports are a record of organisation’s financial activity for an entire financial year. Analysing annual reports in an assignment requires the knowledge of accounting principles and concepts. Our financial accounting assignment help experts can accurately analyse annual reports of companies and provide the information to the decision makers.
- Financial Accounting Theory Assignment Help: Our advanced financial accounting assignment experts say that financial accounting theory is a collection of methodologies and assumptions utilised in studying and applying principles of financial reporting.
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What Is Financial Accounting Assignment Help?
- Blog Details
What is Financial Accounting?
Benefits of financial accounting, why do students take accounting financing assignments help, how does financial accounting assignment help students, challenges faced by financial accounting students.
Financial accounting assignment help is a service that assists students in understanding and completing assignments related to financial accounting. This type of help aims to improve a student's understanding of financial accounting concepts and their ability to apply them to real-world situations. This can include topics such as financial statements, accounting principles, and financial analysis. A tutor, online resource, or a professional writing service can provide financial accounting assignment help. It can also be tailored to meet the specific needs of the student and their assignment requirements.
The primary financial statements used in accounting are the balance sheet, income statement, and cash flow statement. Financial accounting also involves using Generally Accepted Accounting Principles (GAAP), which are a set of guidelines and rules for financial reporting. These principles ensure that financial statements are accurate and consistent and provide a fair representation of a company's financial position.
The income statement, also known as the statement of profit and loss, shows a company's revenues, expenses, and net income over a specific period of time. The cash flow statement, also known as the statement of cash flows, shows a company's cash inflows and outflows over a specific period of time.
There are several benefits of financial accounting, including
- Helps in decision making: Financial accounting provides information used by management, investors, and other stakeholders to make informed decisions.
- Facilitates compliance: Financial accounting helps organizations comply with legal and regulatory requirements, such as tax laws and financial reporting standards.
- Provides transparency: Financial accounting provides transparency and accountability by presenting a clear picture of an organization's financial performance and position.
- Assists in budgeting and forecasting: Financial accounting provides the historical financial data used to create budgets and forecast future financial performance.
- Helps in planning and controlling: Financial accounting provides information used to plan and control an organization's operations by identifying areas that need improvement and measuring performance against established goals.
Students may take accounting and finance assignment help for various reasons, including
- Difficulty understanding the material: Accounting and finance can be complex and difficult to understand, especially for students who are not familiar with the concepts or who are not strong in math.
- Lack of time: Many students are juggling multiple responsibilities, such as work and family, and may not have enough time to complete their assignments independently.
- Need for better grades: Some students may be struggling with their grades in accounting and finance and may seek assignment help to improve their understanding of the material and their grades.
- Need for extra support: Some students may need additional support to help them keep up with the material and stay on track with their financial management assignment help.
- Need for specialized knowledge: Some students may need specialized knowledge in accounting and finance for their careers and may seek assignment help to gain that knowledge.
- Fear of failure: Students often fear that they will fail in the subject and take help to pass the exams.
Financial accounting assignment help can be beneficial for students for several reasons.
- Improved understanding of the material: Students who receive assignment help from experts in financial accounting can gain a deeper understanding of the concepts and principles of the subject. This can help them to grasp the material better and perform better in their coursework and exams.
- Time-saving: Many students are busy with other responsibilities such as work or family and may not have enough time to complete their assignments independently. Financial accounting assignment help can save students time by providing them with well-researched and well-written assignments that they can use as a study guide.
- Better grades: Financial accounting can be challenging and time-consuming, and students may struggle to achieve good grades. Financial accounting assignment help can help students improve their grades by providing them with high-quality assignments written to a professional standard.
- Extra support: Some students may need extra support to help them keep up with the material and stay on track with their assignments. Financial accounting assignment help can give students the additional support they need to succeed.
- Specialized knowledge: Financial accounting can be a specialized subject, and students may need specialized knowledge to excel in their coursework and future careers. Financial accounting assignment help can give students the specialized knowledge they need to succeed.
- A better understanding of the practical implications: Financial accounting assignment help can help students to understand the practical implications of financial accounting and how it is applied in the real world. This can help to make the subject more interesting and relevant to students.
There are several challenges that individuals may face when trying to understand financial accounting, including
- Complexity of the material: Financial accounting can be complex and difficult to understand, especially for individuals who are not familiar with the concepts or who are not strong in math.
- Difficulty in understanding technical terms and jargon: Financial accounting is a specialized field, and it can be challenging for individuals to understand the technical terms and jargon used in the subject.
- Keeping up with changing regulations and standards: Financial accounting is a rapidly changing field, and individuals must stay updated with the latest regulations, standards, and best practices.
- Applying theory to practice: Financial accounting can be theoretical, and individuals may struggle to understand how the concepts they learn apply to the real world.
- Handling large amounts of numerical data: Financial accounting requires a lot of calculations and analysis of numerical data, and individuals may struggle with this aspect of the subject.
- Difficulty in understanding the financial statements and their interpretation: Financial statements such as balance sheets, income statements, and cash flow statements are the main source of information for decision-making, but they can be difficult to understand for individuals who are unfamiliar with the subject.
- Limited Resources: Individuals may not have access to sufficient resources, such as textbooks, online tutorials, or expert guidance that can help them to understand financial accounting better.
Financial accounting assignment help can be a valuable tool for students and individuals who are struggling to understand the subject. Experienced experts can assist with providing clear concepts, and solutions that are tailored to the specific needs of the individual. The charges for these services are often pocket-friendly, making them accessible to a wide range of students and individuals. Furthermore, dedicated customer care teams are available to assist with any queries or concerns that may arise. The assignment-oriented solutions provided by these experts can help students and individuals to achieve a better understanding of the subject and improve their grades. However, all types of payments are accepted, making it easy for individuals to access the help they need. Financial accounting assignment help is a valuable resource for those who are looking to improve their understanding of the subject and achieve success in their studies.
Is there any difference between finance and accounting?
Ans. Finance is the study of managing money, including the processes of acquiring, investing, and managing funds. It deals with the management of an organization's financial resources and activities. It includes financial planning, investment management, and financial analysis. The primary goal of finance is to maximize an organization's wealth and profitability.
Accounting, on the other hand, is the process of measuring, processing, and communicating financial information about an organization. It deals with the recording, classifying, and summarizing of financial transactions. The primary goal of accounting is to provide financial information that is accurate, reliable, and useful for decision-making.
Why should students take assignment help rather than doing assignments on their own?
Ans. Assignments play an important role in students' academic journey, but completing them can be challenging. Many students find it difficult to find the time, resources and knowledge to complete their assignments independently. In such situations, taking assignment help can be an excellent alternative.
Firstly, assignment help can give students a deeper understanding of the subject matter. Experts who provide the help have a wealth of knowledge and experience in their respective fields. They can provide students with insights and explanations that they may not have been able to find on their own. This can help to improve their understanding of the subject and their grades.
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SEMESTER-2 ASSIGNMENT-FINANCIAL ACCOUNTING & ANALYSIS
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Financial accounting is the framework that dictates the rules, processes, and standards for financial recordkeeping. Nonprofits, corporations, and small businesses use financial accountants...
The financial accounting process is the series of steps required to compile, record, analyze and interpret financial statements. It standardizes the function of businesses and allows them to create consistent and relevant information for stakeholders. Most sources provide eight steps in the financial accounting cycle:
Module 1: The Role of Accounting in Business— Assignment: Lopez Consulting Module 2: Accounting Principles— Assignment: Accounting Principles Module 3: Recording Business Transactions— Assignment: Recording Business Transactions Module 4: Completing the Accounting Cycle— Assignment: Completing the Accounting Cycle
Assignment refers to the transfer of some or all property rights and obligations associated with an asset, property, contract, etc. to another entity through a written agreement. For example, a...
According to Investopedia, Financial Accounting can be defined as the process of reporting, summarising and recording business transactions over a period of time. Summarising these transactions is necessary at the time of preparing balance sheet, income statement, financial statements, and cash flow statement.
Financial accounting assignment help is a service that assists students in understanding and completing assignments related to financial accounting. This type of help aims to improve a student's understanding of financial accounting concepts and their ability to apply them to real-world situations.
Our financial accounting assignment samples reflect a comprehensive understanding of the standards of accounting as delineated by the Australian Accounting Standards Board. Our assignment writing experts work upon the assignments of students after taking into account all considerations regarding university guidelines and marking criteria.
semester-2 assignment-financial accounting & analysis 1. in the given problem we have to develop a balance sheet according to given data- cash flow statement as per as-3 particular amou amou nt nt cash flow from operating activities net profit before transaction 550,000 depreciation 100,000 loss on sale of machinery 50000 total value 150,000 now add the total value and net profit 770,000 ...
ASSIGNMENT 1 FINANCIAL ACCOUNTING - WINTER 2023. PART A. SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 1) Jump Rope Company's annual accounting year ends on September 30. All journal entries have been made for the period ended September 30, 2020, except for the following two items.