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Financial & Accounting Skills for Managers
Below are the two tasks. Each of them
Financial & Accounting Skills for Managers
Below are the two tasks. Each of them requires 2 responses which makes 4 responses in total which should be totally different from each other.
Please provide me with Turnitin and AI similarity reports for Task 2. And don’t forget to include the in-text citation for the reference used for Task 1.
Task 1
Managerial Accounting Purpose Infographic
Managerial accounting deals with information that is for internal use. It helps managers to control costs, price, and make other relevant decisions. View the following YouTube video about managerial accounting:
ACCT 205 Chapter 1 Managerial Accounting & Cost Concepts. (n.d.). Www.youtube.com. Retrieved July 19, 2022, from https://www.youtube.com/watch?v=A9r8TuCvlKg
Then, create a graphic organizer or infographic that helps explain:
The purpose of managerial accounting
Accounting concepts useful in classifying costs
Manufacturing activities and the flow of manufacturing costs
Resources for Graphic Organizers
Visual/Graphic Organizers
Editable Visual/Graphic Organizers
Graphic Organizers
Free Graphic Organizer Templates
8 Editable Graphic Organizer Templates for Google Apps
Tips for Designing a Visual/Graphic Organizer
A graphic organizer, also known as a knowledge map, concept map, cognitive organizer, advance organizer, or concept diagram, is a tool that uses visual symbols to express knowledge and concepts by examining the relationships between them. The main purpose of a graphic organizer is to provide a visual aid to facilitate learning.
Examples of Visual/Graphic Organizers
T-charts
Concept Maps
Venn Diagram
Flow Charts in Google Slides
Resources for Designing Infographics
Tips on Designing an Infographic
Build an infographic and attach a written summary for items which cannot fit on the infographic.
An information graphic (infographic) is a visual representation of a data set or instructive material. Infographics take a large amount of information in text (or numerical form) and then condense it into a combination of images and text highlights. This modern data transformation technique allows viewers to quickly grasp essential insights about a specific subject. Review this ten-minute video (link below) to see what elements go into creating an effective infographic. It will provide some background on how to complete your assignment for this week.
How to Create an Infographic – Part 1: What Makes a Good Infographic?
Get as creative as possible, and design a well-organized, easy to understand infographic. You can visit Piktochart, Canva, Venngage, and Visme online for infographic examples, tips on how to create them, and templates.
Share your completed infographic in GAP. Be sure to share the file in a format your instructor can view such as PDF. Search the help section of the tool you chose to use to find out the options for downloading, sharing, and publishing your infographic.
Piktochart Download Options
Canva Download Support
Venngage Download Support
Visme Download Support
Task 2
Cost of Goods Assignment
Based on the content covered in Chapter 14 of the Wild, J., & Shaw, K. (2022) text, conduct an analysis of the cost of goods sold in manufacturing and merchandising companies. Students should address the following:
A brief explanation of the differences in calculations made to determine the cost of goods sold in manufacturing vs merchandising companies.
The cost of goods calculations to answer the following problem:The annual financial data at December 31, 2017, taken from two different companies are shown below:
(a) Compute the “Cost of Goods Sold” section of the income statement at December 31, 2017, for each company. Include the proper title and format in the solution
(b) Write a one-page memorandum to your instructor
(1) identifying the inventory accounts and
(2) describing where each is reported on the income statement and balance sheet for both companies.
Paper should be a total of 6 pages including the calculations and the one-page memorandum.
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