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Adjusting Entries

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Continue to work with Target.

Specifically, the following critical elements must be addressed:

IV. Adjusting Entries: For this part of the assessment, you will continue your financial analysis paper. A. Explain the type of depreciation method your company uses and why they use this method. B. Identify an example of an adjusting entry (other than depreciation), such as prepaid expenses, supplies, or unearned revenue, and whether or not your company has this account listed on the balance sheet. You could consider why this might not be listed. 

VI. Communication: For this part of the assessment, you will prepare memorandums to upper management addressing certain scenarios or situations. A. As the controller of your chosen company, compose a memo to the CEO addressing the advantages and disadvantages of transitioning from GAAP to IFRS. B. As the controller of your chosen company, compose a memo to the CEO addressing the following scenario: Your biggest customer has just gone bankrupt, and you must inform the CEO how this will affect your accounts receivable. Assume that the accounts receivable balance is at least $100,000. 

Guidelines for Submission:

 
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