Competency Apply the principles of accrual accounting and accounting cycles. Scenario The Director of Accounting has some concerns about the month-end close cutoff procedures that are currently in place at County General Hospital and is looking to you for some recommendations. Their main concern is that not all revenues and expenses are recorded in the proper months. This is of particular concern because the fiscal year end (December 31st) is coming up, and the Director of Accounting does not want any audit adjustments. Instructions The director has formally reached out to you via email with a list of transactions that they are concerned about: Start the memo with a paragraph that addresses VP level management.

This should be opening sentences that explain why the transactions are being reviewed. Simply explaining the need for adjustments at the end of an accounting period can be included in this paragraph. Explain the difference between an accrual and deferral and why it makes a difference in adjusting as well · The company delivered services in September ,000 payment that was made in November. (accounts receivable/revenue; cash/accounts receivable) · The company is 80% done on a ,000 contract for services but have not billed the client yet. · On December 1st the company purchased a one-year insurance policy on behalf of their executives for ,000 and debited prepaid insurance. (Asset, pre-paid expense not yet used) · The companies last pay period ends on December 24th.

The biweekly payroll is consistent at 0,000 per pay period. (Accrued expense/Cash) · Interest payment on the company bonds (,000,000 face value, 6%) is made semiannually on January 15th and July 15th. · The company’s electric meter is read on the 15th of each month, and the bill is not received until the first of the following month. The electric bill is consistently running ,000 per month. (expense/accounts payable) deferral · The company utilizes a storage facility on the other side of town. The landlord, as part of an inducement to the company, has agreed to delay the December cash payment for use until January 15th of next year. The company signed a monthly rental agreement of

Competencyapply The Principles Of Accrual Accounting And Accounting Cy

Competency Apply the principles of accrual accounting and accounting cycles. Scenario The Director of Accounting has some concerns about the month-end close cutoff procedures that are currently in place at County General Hospital and is looking to you for some recommendations. Their main concern is that not all revenues and expenses are recorded in the proper months. This is of particular concern because the fiscal year end (December 31st) is coming up, and the Director of Accounting does not want any audit adjustments. Instructions The director has formally reached out to you via email with a list of transactions that they are concerned about: Start the memo with a paragraph that addresses VP level management.

This should be opening sentences that explain why the transactions are being reviewed. Simply explaining the need for adjustments at the end of an accounting period can be included in this paragraph. Explain the difference between an accrual and deferral and why it makes a difference in adjusting as well · The company delivered services in September $10,000 payment that was made in November. (accounts receivable/revenue; cash/accounts receivable) · The company is 80% done on a $50,000 contract for services but have not billed the client yet. · On December 1st the company purchased a one-year insurance policy on behalf of their executives for $12,000 and debited prepaid insurance. (Asset, pre-paid expense not yet used) · The companies last pay period ends on December 24th.

The biweekly payroll is consistent at $500,000 per pay period. (Accrued expense/Cash) · Interest payment on the company bonds ($1,000,000 face value, 6%) is made semiannually on January 15th and July 15th. · The company’s electric meter is read on the 15th of each month, and the bill is not received until the first of the following month. The electric bill is consistently running $5,000 per month. (expense/accounts payable) deferral · The company utilizes a storage facility on the other side of town. The landlord, as part of an inducement to the company, has agreed to delay the December cash payment for use until January 15th of next year. The company signed a monthly rental agreement of $2,000 per month on December 1st. (Accounts Payable/Rental Expense) deferral The direction has also asked the following questions : · Will these transactions require an adjusting entry?

Why? · Is it an accrual or deferral and give your justification? · What are the accounts that will be debited and credited for this entry? The director closes the email by asking that you create a memo with your findings that they can take to the Vice President of Accounting. Provided a detailed memo with proper formatting; tone of the memo is specific for VP level management. All answers were correct answers for whether each of the transactions requires an adjusting entry or not and why the answer was chosen. All answers were correct for each of the transactions regarding whether it is an accrual or deferral; included justification for each transaction.

Identifies all of the accounts that would be debited and credited for each of the entries. Discussion Question 1 Answer discussion questions 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Discuss/ Explain/ provide reference if possible 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Discuss/ Explain/ provide reference if possible Respond to the following below: E J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? I think the method that has the most potential to reduce conflicts regarding change orders between architects and contractors is the Design-Build delivery system.

One reason is for this system reducing conflicts regarding change orders is because there is the presence of constructability review from the beginning of the design phase. This review allows construction professionals to advise the designer if there is a construction flaw in the drawings, preventing a change order in the future. Since the construction process usually starts while the drawings are still being created, any changes in the Design-Build drawings can usually be easily incorporated in the field. Since the designer and contractor are usually the same entity, this allows there to be a good relationship since both work closely together on projects. 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? The Design-Bid-Build projects can't be as fast paced like Design-Build because the entire process is linear. Contractors are not involved until after the drawings are complete so there are no constructability reviews. This can create and has created many change orders along the construction stage. Not only do these change orders cause the schedule to be longer but the absence of information from specifications and drawings can create RFI's that can take time for the AE to answer.

It can be difficult for contractors to fast track Design-Bid-Build methods if they are not given all of the information they need. Respond G J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? In my experience the Design-Build Method is most likely to reduce conflicts and adversarial relationships between architects and contractors when a change order takes place.

A very experienced DB team has the greatest chance in succeeding to achieve goals when it comes to scheduling, maintenance, construction speed and intensity without falling into too many change orders. In real life when specifications are not very clear the DB team and the General Contractor tend to blame each other for the lack clarification. Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of DBB are most frequently raising conflicts, Change order etc.

In DBB there is lots of meetings between design team and build team, which generally is absent in case of DB method. Respond M L Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Design-Build (DB) has the most potential to reduce the conflicts and adversarial relationship. Also an experienced DB team has the greatest chance of succeeding in achieving goals in schedule maintenance, construction speed and intensity .

Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of Design Bid Build are most frequently raising conflicts, change order etc. there is lots of meetings between design team and build team, which generally is absent in case of Design-Bid method. Respond P B Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship?

The conflict is sometimes caused by the oversight position of the architect over the contractor. The contractor does not have direct linkage to the owner if the architect is representing the owner. Also, the architect has a vision for the product, whereas the contractor is basing his work on performing a process. While the contractor is trying to achieve something that meets the product requirements using an inexpensive, timely, and reliable process, the architect is only concerned with process if it is poor quality or does not get the result envisioned. This might be different than the result specified.

To minimize conflict, change costs must be determined by a standard formula, not just a negotiation. If the results are not as intended, but meet requirements, a third party can help to determine how to proceed in a conflict. This could be in the form of a third-party pre-arbitrator functioning as an empowered change order manager. Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? The design bid build model has a more linear set of milestones or check points that make it difficult to do several tasks in parallel.

Since the contractor gets involved later in the process, he cannot help to correct any unclear or incorrect requirements until after the contractor selection process. There may need to be multiple iterations of bidding if no one can provide to the initial specifications or costs are not acceptable. The building project cannot be started, including ordering supplies, water management, or permitting, until the contractor is in place. This can certainly prevent fast tracking as compared to the design build method. Conflicts can then further slow the build once the contractor is in place, and this is more likely since the contractor was not involved in the specification process.

Finally, the low-cost bidder getting the job could mean that the company with more experience or expertise in a design type may not get the job. That lack of experience may also slow the work. Respond 2. What are some attributes of an ethical construction professional? Never lie, cheat or steal.

Conduct themselves with honesty and integrity. Respect and concern for all members of the team, everyone arrives at work and everyone goes home. Do not engage in conduct which can be deemed a conflict of interest, or if in a situation report immediately. Complete fiduciary duty to owner/client. Respond N K Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders.

Which method you think has the most potential to reduce these conflicts and adversarial relationship? The method that has the greatest potential to reduce conflicts and adverse relationships between the work team is the Integral Project Delivery since the main idea of ​​this method is to seek efficiency and the involvement of all participants in all phases of the project from design through construction. Despite being a relatively new method, what is sought is to reduce waste, avoid delays, improve the quality of the final product and reduce conflicts between owners, architects, and contractors; Since all members of the work team are involved in the development of the project from the beginning, there is a greater chance that there will be fewer problems during the construction process, and in case of an inconvenience it can be solved as a team and not as in the traditional methods that each member works independently.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Because the design-bid-build method is a sequential process involving different parties. First, the entire design process must be completed by the A / E, to do the BID, once the CG is selected, the construction process begins. While in the Design-Build process, the contracted firm is in charge of doing the design and construction without having to do the BID process, so you can start building without having to complete the designs in their entirety. Respond Suggested format: Times New Roman 12 points, single spaced, 1†margin all around, APA style for references Note: All assignments will be checked for plagiarism using SafeAssign.

The similarity index should not be greater than 35% on the report. You should always provide references at the end. Q1. a) What are the major parameters to be considered in the prequalification? Assessment of a contractor (you can use either a Design-Build or Design-Bid Build delivery system)? 30 points b) Investigate the local criteria in your city* that is being used in the prequalification of general contractors.

20 points Q2. Activity: Visit the McGraw-Hill Dodge Construction Reports Website ( and find the three largest projects currently being under bidding process in your city* in the categories of commercial, transportation and utilities. Report the provided general description (‘‘type’’), estimated cost (‘‘valuation’’), and their owner. You should include screenshots with your answers. Please mention your city in the start of your write-up.

You should either create a table with three categories or provide the information as separate sections. 50 points *Distant learning students can pick any city in the United States and complete the assignment accordingly.

,000 per month on December 1st. (Accounts Payable/Rental Expense) deferral The direction has also asked the following questions : · Will these transactions require an adjusting entry?

Why? · Is it an accrual or deferral and give your justification? · What are the accounts that will be debited and credited for this entry? The director closes the email by asking that you create a memo with your findings that they can take to the Vice President of Accounting. Provided a detailed memo with proper formatting; tone of the memo is specific for VP level management. All answers were correct answers for whether each of the transactions requires an adjusting entry or not and why the answer was chosen. All answers were correct for each of the transactions regarding whether it is an accrual or deferral; included justification for each transaction.

Identifies all of the accounts that would be debited and credited for each of the entries. Discussion Question 1 Answer discussion questions 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Discuss/ Explain/ provide reference if possible 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Discuss/ Explain/ provide reference if possible Respond to the following below: E J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? I think the method that has the most potential to reduce conflicts regarding change orders between architects and contractors is the Design-Build delivery system.

One reason is for this system reducing conflicts regarding change orders is because there is the presence of constructability review from the beginning of the design phase. This review allows construction professionals to advise the designer if there is a construction flaw in the drawings, preventing a change order in the future. Since the construction process usually starts while the drawings are still being created, any changes in the Design-Build drawings can usually be easily incorporated in the field. Since the designer and contractor are usually the same entity, this allows there to be a good relationship since both work closely together on projects. 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? The Design-Bid-Build projects can't be as fast paced like Design-Build because the entire process is linear. Contractors are not involved until after the drawings are complete so there are no constructability reviews. This can create and has created many change orders along the construction stage. Not only do these change orders cause the schedule to be longer but the absence of information from specifications and drawings can create RFI's that can take time for the AE to answer.

It can be difficult for contractors to fast track Design-Bid-Build methods if they are not given all of the information they need. Respond G J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? In my experience the Design-Build Method is most likely to reduce conflicts and adversarial relationships between architects and contractors when a change order takes place.

A very experienced DB team has the greatest chance in succeeding to achieve goals when it comes to scheduling, maintenance, construction speed and intensity without falling into too many change orders. In real life when specifications are not very clear the DB team and the General Contractor tend to blame each other for the lack clarification. Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of DBB are most frequently raising conflicts, Change order etc.

In DBB there is lots of meetings between design team and build team, which generally is absent in case of DB method. Respond M L Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Design-Build (DB) has the most potential to reduce the conflicts and adversarial relationship. Also an experienced DB team has the greatest chance of succeeding in achieving goals in schedule maintenance, construction speed and intensity .

Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of Design Bid Build are most frequently raising conflicts, change order etc. there is lots of meetings between design team and build team, which generally is absent in case of Design-Bid method. Respond P B Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship?

The conflict is sometimes caused by the oversight position of the architect over the contractor. The contractor does not have direct linkage to the owner if the architect is representing the owner. Also, the architect has a vision for the product, whereas the contractor is basing his work on performing a process. While the contractor is trying to achieve something that meets the product requirements using an inexpensive, timely, and reliable process, the architect is only concerned with process if it is poor quality or does not get the result envisioned. This might be different than the result specified.

To minimize conflict, change costs must be determined by a standard formula, not just a negotiation. If the results are not as intended, but meet requirements, a third party can help to determine how to proceed in a conflict. This could be in the form of a third-party pre-arbitrator functioning as an empowered change order manager. Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? The design bid build model has a more linear set of milestones or check points that make it difficult to do several tasks in parallel.

Since the contractor gets involved later in the process, he cannot help to correct any unclear or incorrect requirements until after the contractor selection process. There may need to be multiple iterations of bidding if no one can provide to the initial specifications or costs are not acceptable. The building project cannot be started, including ordering supplies, water management, or permitting, until the contractor is in place. This can certainly prevent fast tracking as compared to the design build method. Conflicts can then further slow the build once the contractor is in place, and this is more likely since the contractor was not involved in the specification process.

Finally, the low-cost bidder getting the job could mean that the company with more experience or expertise in a design type may not get the job. That lack of experience may also slow the work. Respond 2. What are some attributes of an ethical construction professional? Never lie, cheat or steal.

Conduct themselves with honesty and integrity. Respect and concern for all members of the team, everyone arrives at work and everyone goes home. Do not engage in conduct which can be deemed a conflict of interest, or if in a situation report immediately. Complete fiduciary duty to owner/client. Respond N K Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders.

Which method you think has the most potential to reduce these conflicts and adversarial relationship? The method that has the greatest potential to reduce conflicts and adverse relationships between the work team is the Integral Project Delivery since the main idea of ​​this method is to seek efficiency and the involvement of all participants in all phases of the project from design through construction. Despite being a relatively new method, what is sought is to reduce waste, avoid delays, improve the quality of the final product and reduce conflicts between owners, architects, and contractors; Since all members of the work team are involved in the development of the project from the beginning, there is a greater chance that there will be fewer problems during the construction process, and in case of an inconvenience it can be solved as a team and not as in the traditional methods that each member works independently.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Because the design-bid-build method is a sequential process involving different parties. First, the entire design process must be completed by the A / E, to do the BID, once the CG is selected, the construction process begins. While in the Design-Build process, the contracted firm is in charge of doing the design and construction without having to do the BID process, so you can start building without having to complete the designs in their entirety. Respond Suggested format: Times New Roman 12 points, single spaced, 1†margin all around, APA style for references Note: All assignments will be checked for plagiarism using SafeAssign.

The similarity index should not be greater than 35% on the report. You should always provide references at the end. Q1. a) What are the major parameters to be considered in the prequalification? Assessment of a contractor (you can use either a Design-Build or Design-Bid Build delivery system)? 30 points b) Investigate the local criteria in your city* that is being used in the prequalification of general contractors.

20 points Q2. Activity: Visit the McGraw-Hill Dodge Construction Reports Website ( and find the three largest projects currently being under bidding process in your city* in the categories of commercial, transportation and utilities. Report the provided general description (‘‘type’’), estimated cost (‘‘valuation’’), and their owner. You should include screenshots with your answers. Please mention your city in the start of your write-up.

You should either create a table with three categories or provide the information as separate sections. 50 points *Distant learning students can pick any city in the United States and complete the assignment accordingly.

Paper for above instructions

Memo
To: Vice President of Accounting
From: [Your Name], Accounting Consultant
Date: [Current Date]
Subject: Recommendations for Month-End Close Cutoff Procedures
---
Dear Vice President,
In light of the impending fiscal year-end on December 31st, it has come to my attention that there are several transactions under review concerning the month-end close cutoff procedures at County General Hospital. The purpose of this memo is to provide an analysis of these transactions and to propose necessary adjustments while emphasizing the significance of accrual accounting principles.
Accrual accounting is essential to ensure that revenues and expenses are recorded in the correct accounting period, thereby reflecting the organization's true financial position. The difference between an accrual and a deferral is paramount here; accrual accounting recognizes revenues when earned and expenses when incurred, regardless of when the cash transactions occur, while deferrals postpone the recognition of revenues or expenses until a future period (Kimmel et al., 2019). Proper application of these principles is crucial for transparency and accuracy in financial reporting.
---

Transaction Analysis

Below, I provide an overview of the listed transactions, determining if adjustments are necessary, identifying the nature of each transaction (accrual or deferral), and specifying the corresponding journal entries.
1. Services Delivered in September for ,000 (Payment in November)
- Adjustment Required? Yes
- Type: Accrual
- Justification: Revenue must be recognized in September when the services were rendered.
- Journal Entry:
- Debit Accounts Receivable: ,000
- Credit Revenue: ,000
2. ,000 Contract for Services (80% Completed, Not Billed)
- Adjustment Required? Yes
- Type: Accrual
- Justification: Recognize revenue of ,000 (80% of the contract amount) for services provided.
- Journal Entry:
- Debit Accounts Receivable: ,000
- Credit Revenue: ,000
3. Insurance Policy Purchased on December 1 for ,000 (Prepaid)
- Adjustment Required? No adjustment needed until the policy is consumed monthly.
- Type: Deferral
- Justification: Recognized as a prepaid expense to be amortized monthly.
- Journal Entry (for January):
- Debit Insurance Expense: ,000 (for one month)
- Credit Prepaid Insurance: ,000
4. Payroll Ending December 24 (0,000 Biweekly)
- Adjustment Required? Yes
- Type: Accrual
- Justification: Payroll incurred but unpaid as of the month-end.
- Journal Entry:
- Debit Payroll Expense: 0,000
- Credit Accrued Payroll: 0,000
5. Interest Payment on Bonds Semiannually (January and July)
- Adjustment Required? Yes
- Type: Accrual
- Justification: Interest expense needs to be recognized for the period ended December 31. The accrued interest is ,000 (6% on ,000,000 accruing for 6 months).
- Journal Entry:
- Debit Interest Expense: ,000
- Credit Accrued Interest Payable: ,000
6. Monthly Electric Bill (,000, Received Next Month)
- Adjustment Required? Yes
- Type: Accrual
- Justification: The expense must be recognized for December even though the bill arrives in January.
- Journal Entry:
- Debit Utility Expense: ,000
- Credit Accounts Payable: ,000
7. Rental Payment Deferred until January (

Competencyapply The Principles Of Accrual Accounting And Accounting Cy

Competency Apply the principles of accrual accounting and accounting cycles. Scenario The Director of Accounting has some concerns about the month-end close cutoff procedures that are currently in place at County General Hospital and is looking to you for some recommendations. Their main concern is that not all revenues and expenses are recorded in the proper months. This is of particular concern because the fiscal year end (December 31st) is coming up, and the Director of Accounting does not want any audit adjustments. Instructions The director has formally reached out to you via email with a list of transactions that they are concerned about: Start the memo with a paragraph that addresses VP level management.

This should be opening sentences that explain why the transactions are being reviewed. Simply explaining the need for adjustments at the end of an accounting period can be included in this paragraph. Explain the difference between an accrual and deferral and why it makes a difference in adjusting as well · The company delivered services in September $10,000 payment that was made in November. (accounts receivable/revenue; cash/accounts receivable) · The company is 80% done on a $50,000 contract for services but have not billed the client yet. · On December 1st the company purchased a one-year insurance policy on behalf of their executives for $12,000 and debited prepaid insurance. (Asset, pre-paid expense not yet used) · The companies last pay period ends on December 24th.

The biweekly payroll is consistent at $500,000 per pay period. (Accrued expense/Cash) · Interest payment on the company bonds ($1,000,000 face value, 6%) is made semiannually on January 15th and July 15th. · The company’s electric meter is read on the 15th of each month, and the bill is not received until the first of the following month. The electric bill is consistently running $5,000 per month. (expense/accounts payable) deferral · The company utilizes a storage facility on the other side of town. The landlord, as part of an inducement to the company, has agreed to delay the December cash payment for use until January 15th of next year. The company signed a monthly rental agreement of $2,000 per month on December 1st. (Accounts Payable/Rental Expense) deferral The direction has also asked the following questions : · Will these transactions require an adjusting entry?

Why? · Is it an accrual or deferral and give your justification? · What are the accounts that will be debited and credited for this entry? The director closes the email by asking that you create a memo with your findings that they can take to the Vice President of Accounting. Provided a detailed memo with proper formatting; tone of the memo is specific for VP level management. All answers were correct answers for whether each of the transactions requires an adjusting entry or not and why the answer was chosen. All answers were correct for each of the transactions regarding whether it is an accrual or deferral; included justification for each transaction.

Identifies all of the accounts that would be debited and credited for each of the entries. Discussion Question 1 Answer discussion questions 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Discuss/ Explain/ provide reference if possible 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Discuss/ Explain/ provide reference if possible Respond to the following below: E J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? I think the method that has the most potential to reduce conflicts regarding change orders between architects and contractors is the Design-Build delivery system.

One reason is for this system reducing conflicts regarding change orders is because there is the presence of constructability review from the beginning of the design phase. This review allows construction professionals to advise the designer if there is a construction flaw in the drawings, preventing a change order in the future. Since the construction process usually starts while the drawings are still being created, any changes in the Design-Build drawings can usually be easily incorporated in the field. Since the designer and contractor are usually the same entity, this allows there to be a good relationship since both work closely together on projects. 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? The Design-Bid-Build projects can't be as fast paced like Design-Build because the entire process is linear. Contractors are not involved until after the drawings are complete so there are no constructability reviews. This can create and has created many change orders along the construction stage. Not only do these change orders cause the schedule to be longer but the absence of information from specifications and drawings can create RFI's that can take time for the AE to answer.

It can be difficult for contractors to fast track Design-Bid-Build methods if they are not given all of the information they need. Respond G J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? In my experience the Design-Build Method is most likely to reduce conflicts and adversarial relationships between architects and contractors when a change order takes place.

A very experienced DB team has the greatest chance in succeeding to achieve goals when it comes to scheduling, maintenance, construction speed and intensity without falling into too many change orders. In real life when specifications are not very clear the DB team and the General Contractor tend to blame each other for the lack clarification. Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of DBB are most frequently raising conflicts, Change order etc.

In DBB there is lots of meetings between design team and build team, which generally is absent in case of DB method. Respond M L Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Design-Build (DB) has the most potential to reduce the conflicts and adversarial relationship. Also an experienced DB team has the greatest chance of succeeding in achieving goals in schedule maintenance, construction speed and intensity .

Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of Design Bid Build are most frequently raising conflicts, change order etc. there is lots of meetings between design team and build team, which generally is absent in case of Design-Bid method. Respond P B Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship?

The conflict is sometimes caused by the oversight position of the architect over the contractor. The contractor does not have direct linkage to the owner if the architect is representing the owner. Also, the architect has a vision for the product, whereas the contractor is basing his work on performing a process. While the contractor is trying to achieve something that meets the product requirements using an inexpensive, timely, and reliable process, the architect is only concerned with process if it is poor quality or does not get the result envisioned. This might be different than the result specified.

To minimize conflict, change costs must be determined by a standard formula, not just a negotiation. If the results are not as intended, but meet requirements, a third party can help to determine how to proceed in a conflict. This could be in the form of a third-party pre-arbitrator functioning as an empowered change order manager. Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? The design bid build model has a more linear set of milestones or check points that make it difficult to do several tasks in parallel.

Since the contractor gets involved later in the process, he cannot help to correct any unclear or incorrect requirements until after the contractor selection process. There may need to be multiple iterations of bidding if no one can provide to the initial specifications or costs are not acceptable. The building project cannot be started, including ordering supplies, water management, or permitting, until the contractor is in place. This can certainly prevent fast tracking as compared to the design build method. Conflicts can then further slow the build once the contractor is in place, and this is more likely since the contractor was not involved in the specification process.

Finally, the low-cost bidder getting the job could mean that the company with more experience or expertise in a design type may not get the job. That lack of experience may also slow the work. Respond 2. What are some attributes of an ethical construction professional? Never lie, cheat or steal.

Conduct themselves with honesty and integrity. Respect and concern for all members of the team, everyone arrives at work and everyone goes home. Do not engage in conduct which can be deemed a conflict of interest, or if in a situation report immediately. Complete fiduciary duty to owner/client. Respond N K Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders.

Which method you think has the most potential to reduce these conflicts and adversarial relationship? The method that has the greatest potential to reduce conflicts and adverse relationships between the work team is the Integral Project Delivery since the main idea of ​​this method is to seek efficiency and the involvement of all participants in all phases of the project from design through construction. Despite being a relatively new method, what is sought is to reduce waste, avoid delays, improve the quality of the final product and reduce conflicts between owners, architects, and contractors; Since all members of the work team are involved in the development of the project from the beginning, there is a greater chance that there will be fewer problems during the construction process, and in case of an inconvenience it can be solved as a team and not as in the traditional methods that each member works independently.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Because the design-bid-build method is a sequential process involving different parties. First, the entire design process must be completed by the A / E, to do the BID, once the CG is selected, the construction process begins. While in the Design-Build process, the contracted firm is in charge of doing the design and construction without having to do the BID process, so you can start building without having to complete the designs in their entirety. Respond Suggested format: Times New Roman 12 points, single spaced, 1†margin all around, APA style for references Note: All assignments will be checked for plagiarism using SafeAssign.

The similarity index should not be greater than 35% on the report. You should always provide references at the end. Q1. a) What are the major parameters to be considered in the prequalification? Assessment of a contractor (you can use either a Design-Build or Design-Bid Build delivery system)? 30 points b) Investigate the local criteria in your city* that is being used in the prequalification of general contractors.

20 points Q2. Activity: Visit the McGraw-Hill Dodge Construction Reports Website ( and find the three largest projects currently being under bidding process in your city* in the categories of commercial, transportation and utilities. Report the provided general description (‘‘type’’), estimated cost (‘‘valuation’’), and their owner. You should include screenshots with your answers. Please mention your city in the start of your write-up.

You should either create a table with three categories or provide the information as separate sections. 50 points *Distant learning students can pick any city in the United States and complete the assignment accordingly.

,000/month)
- Adjustment Required? No adjustment needed until the rental payment is made.
- Type: Deferral
- Justification: The rent will not affect December’s expenses, and will be recorded as an expense once paid in January.
- Journal Entry (for January):
- Debit Rental Expense:

Competencyapply The Principles Of Accrual Accounting And Accounting Cy

Competency Apply the principles of accrual accounting and accounting cycles. Scenario The Director of Accounting has some concerns about the month-end close cutoff procedures that are currently in place at County General Hospital and is looking to you for some recommendations. Their main concern is that not all revenues and expenses are recorded in the proper months. This is of particular concern because the fiscal year end (December 31st) is coming up, and the Director of Accounting does not want any audit adjustments. Instructions The director has formally reached out to you via email with a list of transactions that they are concerned about: Start the memo with a paragraph that addresses VP level management.

This should be opening sentences that explain why the transactions are being reviewed. Simply explaining the need for adjustments at the end of an accounting period can be included in this paragraph. Explain the difference between an accrual and deferral and why it makes a difference in adjusting as well · The company delivered services in September $10,000 payment that was made in November. (accounts receivable/revenue; cash/accounts receivable) · The company is 80% done on a $50,000 contract for services but have not billed the client yet. · On December 1st the company purchased a one-year insurance policy on behalf of their executives for $12,000 and debited prepaid insurance. (Asset, pre-paid expense not yet used) · The companies last pay period ends on December 24th.

The biweekly payroll is consistent at $500,000 per pay period. (Accrued expense/Cash) · Interest payment on the company bonds ($1,000,000 face value, 6%) is made semiannually on January 15th and July 15th. · The company’s electric meter is read on the 15th of each month, and the bill is not received until the first of the following month. The electric bill is consistently running $5,000 per month. (expense/accounts payable) deferral · The company utilizes a storage facility on the other side of town. The landlord, as part of an inducement to the company, has agreed to delay the December cash payment for use until January 15th of next year. The company signed a monthly rental agreement of $2,000 per month on December 1st. (Accounts Payable/Rental Expense) deferral The direction has also asked the following questions : · Will these transactions require an adjusting entry?

Why? · Is it an accrual or deferral and give your justification? · What are the accounts that will be debited and credited for this entry? The director closes the email by asking that you create a memo with your findings that they can take to the Vice President of Accounting. Provided a detailed memo with proper formatting; tone of the memo is specific for VP level management. All answers were correct answers for whether each of the transactions requires an adjusting entry or not and why the answer was chosen. All answers were correct for each of the transactions regarding whether it is an accrual or deferral; included justification for each transaction.

Identifies all of the accounts that would be debited and credited for each of the entries. Discussion Question 1 Answer discussion questions 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Discuss/ Explain/ provide reference if possible 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Discuss/ Explain/ provide reference if possible Respond to the following below: E J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? I think the method that has the most potential to reduce conflicts regarding change orders between architects and contractors is the Design-Build delivery system.

One reason is for this system reducing conflicts regarding change orders is because there is the presence of constructability review from the beginning of the design phase. This review allows construction professionals to advise the designer if there is a construction flaw in the drawings, preventing a change order in the future. Since the construction process usually starts while the drawings are still being created, any changes in the Design-Build drawings can usually be easily incorporated in the field. Since the designer and contractor are usually the same entity, this allows there to be a good relationship since both work closely together on projects. 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? The Design-Bid-Build projects can't be as fast paced like Design-Build because the entire process is linear. Contractors are not involved until after the drawings are complete so there are no constructability reviews. This can create and has created many change orders along the construction stage. Not only do these change orders cause the schedule to be longer but the absence of information from specifications and drawings can create RFI's that can take time for the AE to answer.

It can be difficult for contractors to fast track Design-Bid-Build methods if they are not given all of the information they need. Respond G J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? In my experience the Design-Build Method is most likely to reduce conflicts and adversarial relationships between architects and contractors when a change order takes place.

A very experienced DB team has the greatest chance in succeeding to achieve goals when it comes to scheduling, maintenance, construction speed and intensity without falling into too many change orders. In real life when specifications are not very clear the DB team and the General Contractor tend to blame each other for the lack clarification. Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of DBB are most frequently raising conflicts, Change order etc.

In DBB there is lots of meetings between design team and build team, which generally is absent in case of DB method. Respond M L Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Design-Build (DB) has the most potential to reduce the conflicts and adversarial relationship. Also an experienced DB team has the greatest chance of succeeding in achieving goals in schedule maintenance, construction speed and intensity .

Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of Design Bid Build are most frequently raising conflicts, change order etc. there is lots of meetings between design team and build team, which generally is absent in case of Design-Bid method. Respond P B Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship?

The conflict is sometimes caused by the oversight position of the architect over the contractor. The contractor does not have direct linkage to the owner if the architect is representing the owner. Also, the architect has a vision for the product, whereas the contractor is basing his work on performing a process. While the contractor is trying to achieve something that meets the product requirements using an inexpensive, timely, and reliable process, the architect is only concerned with process if it is poor quality or does not get the result envisioned. This might be different than the result specified.

To minimize conflict, change costs must be determined by a standard formula, not just a negotiation. If the results are not as intended, but meet requirements, a third party can help to determine how to proceed in a conflict. This could be in the form of a third-party pre-arbitrator functioning as an empowered change order manager. Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? The design bid build model has a more linear set of milestones or check points that make it difficult to do several tasks in parallel.

Since the contractor gets involved later in the process, he cannot help to correct any unclear or incorrect requirements until after the contractor selection process. There may need to be multiple iterations of bidding if no one can provide to the initial specifications or costs are not acceptable. The building project cannot be started, including ordering supplies, water management, or permitting, until the contractor is in place. This can certainly prevent fast tracking as compared to the design build method. Conflicts can then further slow the build once the contractor is in place, and this is more likely since the contractor was not involved in the specification process.

Finally, the low-cost bidder getting the job could mean that the company with more experience or expertise in a design type may not get the job. That lack of experience may also slow the work. Respond 2. What are some attributes of an ethical construction professional? Never lie, cheat or steal.

Conduct themselves with honesty and integrity. Respect and concern for all members of the team, everyone arrives at work and everyone goes home. Do not engage in conduct which can be deemed a conflict of interest, or if in a situation report immediately. Complete fiduciary duty to owner/client. Respond N K Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders.

Which method you think has the most potential to reduce these conflicts and adversarial relationship? The method that has the greatest potential to reduce conflicts and adverse relationships between the work team is the Integral Project Delivery since the main idea of ​​this method is to seek efficiency and the involvement of all participants in all phases of the project from design through construction. Despite being a relatively new method, what is sought is to reduce waste, avoid delays, improve the quality of the final product and reduce conflicts between owners, architects, and contractors; Since all members of the work team are involved in the development of the project from the beginning, there is a greater chance that there will be fewer problems during the construction process, and in case of an inconvenience it can be solved as a team and not as in the traditional methods that each member works independently.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Because the design-bid-build method is a sequential process involving different parties. First, the entire design process must be completed by the A / E, to do the BID, once the CG is selected, the construction process begins. While in the Design-Build process, the contracted firm is in charge of doing the design and construction without having to do the BID process, so you can start building without having to complete the designs in their entirety. Respond Suggested format: Times New Roman 12 points, single spaced, 1†margin all around, APA style for references Note: All assignments will be checked for plagiarism using SafeAssign.

The similarity index should not be greater than 35% on the report. You should always provide references at the end. Q1. a) What are the major parameters to be considered in the prequalification? Assessment of a contractor (you can use either a Design-Build or Design-Bid Build delivery system)? 30 points b) Investigate the local criteria in your city* that is being used in the prequalification of general contractors.

20 points Q2. Activity: Visit the McGraw-Hill Dodge Construction Reports Website ( and find the three largest projects currently being under bidding process in your city* in the categories of commercial, transportation and utilities. Report the provided general description (‘‘type’’), estimated cost (‘‘valuation’’), and their owner. You should include screenshots with your answers. Please mention your city in the start of your write-up.

You should either create a table with three categories or provide the information as separate sections. 50 points *Distant learning students can pick any city in the United States and complete the assignment accordingly.

,000
- Credit Accounts Payable:

Competencyapply The Principles Of Accrual Accounting And Accounting Cy

Competency Apply the principles of accrual accounting and accounting cycles. Scenario The Director of Accounting has some concerns about the month-end close cutoff procedures that are currently in place at County General Hospital and is looking to you for some recommendations. Their main concern is that not all revenues and expenses are recorded in the proper months. This is of particular concern because the fiscal year end (December 31st) is coming up, and the Director of Accounting does not want any audit adjustments. Instructions The director has formally reached out to you via email with a list of transactions that they are concerned about: Start the memo with a paragraph that addresses VP level management.

This should be opening sentences that explain why the transactions are being reviewed. Simply explaining the need for adjustments at the end of an accounting period can be included in this paragraph. Explain the difference between an accrual and deferral and why it makes a difference in adjusting as well · The company delivered services in September $10,000 payment that was made in November. (accounts receivable/revenue; cash/accounts receivable) · The company is 80% done on a $50,000 contract for services but have not billed the client yet. · On December 1st the company purchased a one-year insurance policy on behalf of their executives for $12,000 and debited prepaid insurance. (Asset, pre-paid expense not yet used) · The companies last pay period ends on December 24th.

The biweekly payroll is consistent at $500,000 per pay period. (Accrued expense/Cash) · Interest payment on the company bonds ($1,000,000 face value, 6%) is made semiannually on January 15th and July 15th. · The company’s electric meter is read on the 15th of each month, and the bill is not received until the first of the following month. The electric bill is consistently running $5,000 per month. (expense/accounts payable) deferral · The company utilizes a storage facility on the other side of town. The landlord, as part of an inducement to the company, has agreed to delay the December cash payment for use until January 15th of next year. The company signed a monthly rental agreement of $2,000 per month on December 1st. (Accounts Payable/Rental Expense) deferral The direction has also asked the following questions : · Will these transactions require an adjusting entry?

Why? · Is it an accrual or deferral and give your justification? · What are the accounts that will be debited and credited for this entry? The director closes the email by asking that you create a memo with your findings that they can take to the Vice President of Accounting. Provided a detailed memo with proper formatting; tone of the memo is specific for VP level management. All answers were correct answers for whether each of the transactions requires an adjusting entry or not and why the answer was chosen. All answers were correct for each of the transactions regarding whether it is an accrual or deferral; included justification for each transaction.

Identifies all of the accounts that would be debited and credited for each of the entries. Discussion Question 1 Answer discussion questions 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Discuss/ Explain/ provide reference if possible 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Discuss/ Explain/ provide reference if possible Respond to the following below: E J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? I think the method that has the most potential to reduce conflicts regarding change orders between architects and contractors is the Design-Build delivery system.

One reason is for this system reducing conflicts regarding change orders is because there is the presence of constructability review from the beginning of the design phase. This review allows construction professionals to advise the designer if there is a construction flaw in the drawings, preventing a change order in the future. Since the construction process usually starts while the drawings are still being created, any changes in the Design-Build drawings can usually be easily incorporated in the field. Since the designer and contractor are usually the same entity, this allows there to be a good relationship since both work closely together on projects. 2.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? The Design-Bid-Build projects can't be as fast paced like Design-Build because the entire process is linear. Contractors are not involved until after the drawings are complete so there are no constructability reviews. This can create and has created many change orders along the construction stage. Not only do these change orders cause the schedule to be longer but the absence of information from specifications and drawings can create RFI's that can take time for the AE to answer.

It can be difficult for contractors to fast track Design-Bid-Build methods if they are not given all of the information they need. Respond G J 1. Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? In my experience the Design-Build Method is most likely to reduce conflicts and adversarial relationships between architects and contractors when a change order takes place.

A very experienced DB team has the greatest chance in succeeding to achieve goals when it comes to scheduling, maintenance, construction speed and intensity without falling into too many change orders. In real life when specifications are not very clear the DB team and the General Contractor tend to blame each other for the lack clarification. Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of DBB are most frequently raising conflicts, Change order etc.

In DBB there is lots of meetings between design team and build team, which generally is absent in case of DB method. Respond M L Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship? Design-Build (DB) has the most potential to reduce the conflicts and adversarial relationship. Also an experienced DB team has the greatest chance of succeeding in achieving goals in schedule maintenance, construction speed and intensity .

Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? Design Bid Build project can't be fast tracked as compared to Design Build, it's very much true. Reason Behind delay of Design Bid Build are most frequently raising conflicts, change order etc. there is lots of meetings between design team and build team, which generally is absent in case of Design-Bid method. Respond P B Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders. Which method you think has the most potential to reduce these conflicts and adversarial relationship?

The conflict is sometimes caused by the oversight position of the architect over the contractor. The contractor does not have direct linkage to the owner if the architect is representing the owner. Also, the architect has a vision for the product, whereas the contractor is basing his work on performing a process. While the contractor is trying to achieve something that meets the product requirements using an inexpensive, timely, and reliable process, the architect is only concerned with process if it is poor quality or does not get the result envisioned. This might be different than the result specified.

To minimize conflict, change costs must be determined by a standard formula, not just a negotiation. If the results are not as intended, but meet requirements, a third party can help to determine how to proceed in a conflict. This could be in the form of a third-party pre-arbitrator functioning as an empowered change order manager. Why can't a Design-Bid-Build project be fast-tracked as compared to Design-Bid? The design bid build model has a more linear set of milestones or check points that make it difficult to do several tasks in parallel.

Since the contractor gets involved later in the process, he cannot help to correct any unclear or incorrect requirements until after the contractor selection process. There may need to be multiple iterations of bidding if no one can provide to the initial specifications or costs are not acceptable. The building project cannot be started, including ordering supplies, water management, or permitting, until the contractor is in place. This can certainly prevent fast tracking as compared to the design build method. Conflicts can then further slow the build once the contractor is in place, and this is more likely since the contractor was not involved in the specification process.

Finally, the low-cost bidder getting the job could mean that the company with more experience or expertise in a design type may not get the job. That lack of experience may also slow the work. Respond 2. What are some attributes of an ethical construction professional? Never lie, cheat or steal.

Conduct themselves with honesty and integrity. Respect and concern for all members of the team, everyone arrives at work and everyone goes home. Do not engage in conduct which can be deemed a conflict of interest, or if in a situation report immediately. Complete fiduciary duty to owner/client. Respond N K Traditionally there has been a lot of conflicts between architects and contractors on the issue of change orders.

Which method you think has the most potential to reduce these conflicts and adversarial relationship? The method that has the greatest potential to reduce conflicts and adverse relationships between the work team is the Integral Project Delivery since the main idea of ​​this method is to seek efficiency and the involvement of all participants in all phases of the project from design through construction. Despite being a relatively new method, what is sought is to reduce waste, avoid delays, improve the quality of the final product and reduce conflicts between owners, architects, and contractors; Since all members of the work team are involved in the development of the project from the beginning, there is a greater chance that there will be fewer problems during the construction process, and in case of an inconvenience it can be solved as a team and not as in the traditional methods that each member works independently.

Why can't a Design-Bid-Build project be fast-tracked as compare to Design-Bid? Because the design-bid-build method is a sequential process involving different parties. First, the entire design process must be completed by the A / E, to do the BID, once the CG is selected, the construction process begins. While in the Design-Build process, the contracted firm is in charge of doing the design and construction without having to do the BID process, so you can start building without having to complete the designs in their entirety. Respond Suggested format: Times New Roman 12 points, single spaced, 1†margin all around, APA style for references Note: All assignments will be checked for plagiarism using SafeAssign.

The similarity index should not be greater than 35% on the report. You should always provide references at the end. Q1. a) What are the major parameters to be considered in the prequalification? Assessment of a contractor (you can use either a Design-Build or Design-Bid Build delivery system)? 30 points b) Investigate the local criteria in your city* that is being used in the prequalification of general contractors.

20 points Q2. Activity: Visit the McGraw-Hill Dodge Construction Reports Website ( and find the three largest projects currently being under bidding process in your city* in the categories of commercial, transportation and utilities. Report the provided general description (‘‘type’’), estimated cost (‘‘valuation’’), and their owner. You should include screenshots with your answers. Please mention your city in the start of your write-up.

You should either create a table with three categories or provide the information as separate sections. 50 points *Distant learning students can pick any city in the United States and complete the assignment accordingly.

,000
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Conclusion

The adjustments highlighted above demonstrate the significance of applying accrual accounting principles properly to maintain the organization’s financial integrity and minimize the risk of audit adjustments. Each transaction necessitates an appropriate allocation to either revenue or expenses to adhere to the accrual concept.
References
1. Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2019). Financial Accounting. Wiley.
2. Horngren, C. T., Sundem, G. L., & Elliott, J. A. (2016). Introduction to Financial Accounting. Pearson.
3. Needles, B. E., & Powers, M. (2015). Principles of Accounting. Cengage Learning.
4. Warren, C. S., Reeve, J. M., & Duchac, J. (2014). Accounting. Cengage Learning.
5. Libby, T., & Libby, P. A. (2018). Financial Accounting. McGraw-Hill Education.
6. Wild, J. J., & Shaw, K. W. (2016). Fundamentals of Financial Accounting. McGraw-Hill Education.
7. Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2020). Financial Accounting. Wiley.
8. Haka, S. F., & Vicky, K. (2017). Financial and Managerial Accounting. McGraw-Hill Education.
9. Foster, G. (2016). Financial Statement Analysis. Prentice Hall.
10. Garrison, R. H., & Noreen, E. W. (2018). Managerial Accounting. McGraw-Hill Education.
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I trust this memo will assist in ensuring the month-end close procedures at County General Hospital are adhered to more vigilantly as we approach the fiscal year-end, ultimately leading to fewer adjustments during the audit. Please let me know if further clarification is needed.
Sincerely,
[Your Name]
Accounting Consultant