Plagiarism, Computing Environment, And Financial Statements

Plagiarism’s Collusion

Plagiarism is an action is which one person passes someone else’s work, ideas, reports, presentation as their own report. It could be intentionally or intentionally. Plagiarism is a serious offence, it is totally unprofessional and the person could be penalized for it too (Duska, Duska, Ragatz, 2011). Plagiarism could be generate by paraphrasing, cutting, copying or pasting the other’s work and deliver it as their own reports (Plagiarism.org, 2017).

Plagiarism’s Collusion:

The collusion of plagiarism is against the honest student due to its rules. Collusion allows the students who have done work with the help of other Person without even knowing to their teacher. It helps the dishonest student to reduce the plagiarism rate in comparison of honest student and thus the dishonest student get extra marks.

Excel spreadsheet could be copied from the excel into word file by using the options of copy and paste. With the help of these options, reports could be pasted in formula view as well as with rows and columns.

In this method, excel’s special formulas are taken care of while pasting the files. First of all, user must use a short key (Ctrl+~) to enable the formula view. Then user must enable the print box by clicking on the page layout and than heading tab. After it, the table must be copied and paste in the word doc files as a “paste special option”. For it, the picture option, under the table must be clicked and “paste as picture” option must be chose (Accountingexplained, 2017).

In other method, a print screen shot of the excel file could be taken and paste it into the word doc file as a picture. For this method, formula menu must be enabled as described above. Screenshot could be taken through using the print screen key.

Website Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper	Comment	URL
FASB Website	It provides the basic knowledge of accounting rules and regulations to private companies in order to help them to prepare the final reports.	https://www.fasb.org/home
Deloitte Website	It provides the wide knowledge of IASB and IFRS rules and regulations to the users in order to help them to develop the work of accounting and auditing.	https://www.iasplus.com/en
AICPA	It provides the wide range of knowledge of ethical standards and techniques to the accounting professional to develop the professional work (Kieso, Weygandt & Warfield, 2010).	https://www.aicpa.org
Chartered professional accountant of Canada	It provides the support for government companies, business and NGOs to set the standards of auditing and accounting. It also assures the companies about the accuracy.	https://www.cpacanada.ca/

The Institute of Public accountant Australia is one of the top leading professional bodies of accounting in Australia. This is accountable for supervise and develop the accounting professional in Australia. Many resources could be found on the website of institute of public accountants for the accounting professional students. It provides the material for the accounting career seeking students (IPA, 2017).

This website offers material on many subjects such as corporate low, taxation, financial planning, accounting etc. Such as the toolkit of accounting offered by the website could be a handy resource. It includes many concerned tools such as planner, calculator, guide, practice manual etc.

Computing environment of an organization is a combination of many software and hardware resources. Many processes have been done through these software and hardware to accomplish a particular task. Basic hardware used in an organization are monitor, modem, scanner, CPU, mouse, printer, data cables etc. CPU is the most important hardware among all. It helps the software to enable and accomplish the performed task. More, modem, data cable, printer and scanner is also important for the organization as company could only prepare a report with the help of it.

In my previous workplace, organizational computing environment was up to data and helpful for the employees to accomplish the entire task at time. For operating the computer, Vista 7 was the operating system. Software used in the company to accomplish the task were Microsoft word, Power point, Spreadsheet, database management etc.

Websites for Accounting Information

Word software used to help the employees in preparing all the reports about the business operations and it helped us to manage, store, update the information. This software helped me to track over the supplies, stock and customers. Spreadsheet software used to help all the employees in preparing the final reports of the company such as income statement, balance sheet, fund and cash flow statement, business plan etc (Zimmerman & Yahya-Zadeh, 2011).

Power point software was most used software. It used to help all the employees in presenting the work they have done and presenting about the new plans, project and financial statements to the stakeholders and top level management. This used to help in an effective manner to present the thoughts and information. Data base management used to help in managing all the information.

The innovations and update of all the software had significantly contributed in my workplace. It helped all the employees in simplifying the work and the result used to be very effective and efficient. Hence, the computing environment at my previous workplace was totally effective and safe.

Key lessons:

ABC learning used to be the most growing companies in the country before 2008-09. In 2008-09 company became insolvent. The company was operating its business for the maintenance and running the childcare centers in the country. Operations of the company were increasing rapidly. In 2006, company has showed a great amount of profit in the financial statements. And further, company has expanded its operations in other countries too. Company had also acquired many other firms engaging in the same business.

Company had experienced a great goodwill in the market. But the financial statement of the company had been prepared without considering the fundamentals principles of accounting. It affected the company and thus the company got failed. In 2008-09, the stock of the company had been recorded $0.54 and due to it company became liquidate (IPA, 2017). This case study offers the main lesson is a company should not ignore the fundamental concept of accounting to prepare the final reports of the company. It could put the company in danger.

The main financial reports of an organization are income statement, cash flow statement and balance sheet. Income statement considers all the income and expenditure incurred in the company in a particular period. It shows the profitability condition of the organization. Balance sheet is prepared with considering all the assets and liabilities of a company to analyze the strength of the company. Cash Flows are prepared by considering all the cash inflow and outflow to analyze the cash position in the company.

It is important for every organization to identify the total profit as it is the essential element to analyze the profitability of the organization. Though, the profits don’t show the liquid state of an organization so cash flow statements are prepared by the companies. Cash flow statement depict about the company’s liquid condition (Sciencedaily, 2017).

Ethical Issues:

ABC learning’s ethical issues are as follows:

Company does not consider the fundamental concepts of accounting.
Cash generated by the company is always reachable by the owner.
Company does not focus on updating of the accounting standards.

S. No.	Account Title	Type of Account
1	Prepaid Expenses	Asset
2	Accounts Receivable	Asset
3	Cash	Asset
4	Accounts Payable	Liability
5	Investments	Asset
6	Salary Payable	Liability
7	Property Tax Expense	Expense
8	Office Supplies	Asset
9	Office Furniture	Asset
10	Electricity and Gas Expense	Expense
11	Rent Expense	Expense
12	Davis, Capital	Proprietorship
13	Service Revenue	Revenue
14	Salary Expense	Expense
15	Supplier Expense	Expense
16	Loan Payable	Liability

Data Section: Bruce Design Studio
	$		$
Loan Payable	17,300.00	Office Furniture	28,000.00
Rent Expense	23,000.00	Electricity and Gas Expense	6,500.00
Cash	4,600.00	Accounts Payable	2,400.00
Office Supplies	3,300.00	Davis, Capital	35,000.00
Salary Expense	49,000.00	Service Revenue	1,55,800.00
Salary Payable	3,400.00	Accounts Receivable	9,200.00
Property Tax Expense	1,700.00	Supplier Expense	33,600.00
Prepaid Expenses	8,000.00	Investments	5,000.00

Report
Income Statement of Bruce Design Studio for Year ended on December 31, 2016
Description	Amount ($)	Amount ($)
Service Revenue		1,55,800.00
Less: Expenses
Rent Expense	23,000.00
Salary Expense	49,000.00
Property Tax Expense	1,700.00
Electricity and Gas Expense	6,500.00
Supplier Expense	33,600.00
Total		1,13,800.00
Profit/(Loss)		42,000.00

This table depict that the BHP Billiton has received a net profit of $42000 in 2016.

Report
Statement Showing Drawings of Owner: Bruce Design Studio for Year ended on December 31, 2016
Description	Amount ($)	Amount ($)
Opening capital balance		40,000.00
Add: Capital investment		15,000.00
Less: Withdrawls		20,000.00
Closing capital balance		35,000.00

Report
Balance Sheet of Bruce Design Studio for Year ended on December 31, 2016
Description	Amount ($)	Amount ($)
Assets
Cash	4,600.00
Office Supplies	3,300.00
Prepaid Expenses	8,000.00
Office Furniture	28,000.00
Accounts Receivable	9,200.00
Investments	5,000.00
Total		58,100.00
Liabilities
Loan Payable	17,300.00
Salary Payable	3,400.00
Accounts Payable	2,400.00
Total		23,100.00
Capital		35,000.00
Total Liabilities and Capital		58,100.00

Data Section: Balance Sheet Equation
		Case-1		Case-2		Case-3
Revenue		900	A			3800
Expenses		600		700		1256
Dividend declared		0		160	B
Additional Investment by stockholders		0		180		340
Net income	C			560	D
Retained earning
Beginning of year		200		195		2260
End of year	E		F			2450
Paid-in Capital
Beginning of year		160		345	G
End of year	I		H			5600
Total assets
Beginning of year		480	J		K
End of year		600		1200	L
Total liabilities
Beginning of year	M			270		1200
End of year	N		O			740
Report Section: Balance Sheet Equation	Comments
		Case-1		Case-2		Case-3
Revenue		900	A	1260		3800	A= Net income+ expenses
Expenses		600		700		1256
Dividend declared		0		160	B	2354	B= Beginning retained earnings – ending retained earnigs+ net income
Additional Investment by stockholders		0		180		340
Net income	c	300		560	D	2544	C and D= Revenues – expense
Retained earning		0
Beginning of year		200		195		2260
End of year	E	500	F	595		2450	E and F= beginning Retained earning + net income – dividend declared
Paid-in Capital
Beginning of year		160		345	G	5260	N= Total assets beginning less liabilities beginning less retained earnings beginning
End of year	I	160	H	525		5600	I and H= Total assets ending less liabilities ending less retained earnings ending
Total assets
Beginning of year		480	J	810	K	8720	J and K= Paid in capital beginning + retained earning beginnng + liabilities beginning
End of year		600		1200	L	8790	L= Paid in capital ending+ retained ending + liabilities ending
Total liabilities
Beginning of year	M	120		270		1200	M= Total assets beginning – paid in capital beginning – retained earnings beginning
End of year	N	-60	O	80		740	N and O= Total assets ending- paid in capital ending -retained earnings ending

Report Section: Balance Sheet Equation	Comments
		Case-1		Case-2		Case-3
Revenue		=D6	A	=F31+F28		=H6	A= Net income+ expenses
Expenses		=D7		=F7		=H7
Dividend declared		=D8		=F8	B	=H33+H31-H34	B= Beginning retained earnings – ending retained earnigs+ net income
Additional Investment by stockholders		=D9		=F9		=H9
Net income	c	=D27-D28		=F10	D	=H27-H28	C and D= Revenues – expense
Retained earning		=D11
Beginning of year		=D12		=F12		=H12
End of year	E	=D33+D31-D29	F	=F33+F31-F29		=H13	E and F= beginning Retained earning + net income – dividend declared
Paid-in Capital
Beginning of year		=D15		=F15	G	=H37-H30	N= Total assets beginning less liabilities beginning less retained earnings beginning
End of year	I	=D36+D30	H	=F36+F30		=H16	I and H= Total assets ending less liabilities ending less retained earnings ending
Total assets
Beginning of year		=D18	J	=F42+F36+F33	K	=H36+H42+H33	J and K= Paid in capital beginning + retained earning beginnng + liabilities beginning
End of year		=D19		=F19	L	=H37+H43+H34	L= Paid in capital ending+ retained ending + liabilities ending
Total liabilities
Beginning of year	M	=D39-(D33+D36)		=F21		=H21	M= Total assets beginning – paid in capital beginning – retained earnings beginning
End of year	N	=D40-(D34+D37)	O	=F40-(F37+F34)		=H22	N and O= Total assets ending- paid in capital ending -retained earnings ending

Normal Debit balances:

Purchase Account
Owner’s Drawing Account
Cash Account
Furniture Account
Bad Debts Account

Normal Credit balances:

Interest Account
Capital Account
Unearned revenues
Bills payable account
Sales Account (Nobes & Parker, 2008)

Data Section: Porto Deliveries
	$		$
Capital	639,760.00	Trucks	302,348.00
Insurance expense	3,450.00	Fuel expense	58,000.00
Accounts payable	35,640.00	Drawings	27,500.00
Service revenue	289,700.00	Electricity expense	8,760.00
Building	380,700.00	Accounts receivables	28,760.00
Supplies expenses	1,980.00	Bills payable	34,900.00
Cash	27,600.00	Supplies	3,654.00
Salary expense	129,358.00	Equipment	27,890.00

Report Section
Porto Deliveries: Trial balance as on 30 June 2016
	$	$
	Debit	Credit
Cash	27,600.00
Accounts receivables	28,760.00
Supplies	3,654.00
Trucks	302,348.00
Building	380,700.00
Equipment	27,890.00
Accounts payable		35,640.00
Bills payable		34,900.00
Capital		639,760.00
Drawings	27,500.00
Service revenue		289,700.00
Fuel expense	58,000.00
Supplies expenses	1,980.00
Salary expense	129,358.00
Insurance expense	3,450.00
Electricity expense	8,760.00
Total	1,000,000.00	1,000,000.00

Formula View:

Report Section
Porto Deliveries: Trial balance as on 30 June 2016
	$	$
	Debit	Credit
Cash	=C12
Accounts receivables	=E10
Supplies	=E12
Trucks	=E6
Building	=C10
Equipment	=E13
Accounts payable		=C8
Bills payable		=E11
Capital		=C6
Drawings	=E8
Service revenue		=C9
Fuel expense	=E7
Supplies expenses	=C11
Salary expense	=C13
Insurance expense	=C7
Electricity expense	=E9
Total	=SUM(C20:C35)	=SUM(D20:D35)

Making Four Changes
	$	$
	Debit	Credit
Cash	22,600.00	–
Accounts receivables	23,760.00	–
Supplies	3,654.00	–
Trucks	3,02,348.00	–
Building	3,80,700.00	–
Equipment	26,390.00	–
Accounts payable	–	30,340.00
Bills payable	–	34,900.00
Capital	–	6,29,760.00
Drawings	27,500.00	–
Service revenue	–	2,93,500.00
Fuel expense	58,000.00	–
Supplies expenses	1,980.00	–
Salary expense	1,29,358.00	–
Insurance expense	3,450.00	–
Electricity expense	8,760.00	–
Total	9,88,500.00	9,88,500.00

The increase of expenses that relate to the revenues being accounted is compulsory because of the ___________ principle.
A financial statement which explains that how cash equivalents and cash have distorted during a financial accounting period is the statement of ________ flows.
Financial statements which are mattered between a company’s annual financial statements are referred to as _____________ financial statements.
The accounting ___________ is Assets = Liabilities + Owner’s (Stockholders’) Equity.
Amounts allocated to people and suppliers are accounted as _______________ on the balance sheet.

Adjusting Entries:

Matter	Adjusting Journal Entry
1. Prepaid expense	Prepaid Expense Dr. expense Cr.
2. Accrued Revenue	Revenue Dr. Accrued Revenue Cr.
3. Unearned revenue	Unearned Revenue Dr. Revenues Cr.
4. Revenues remained unearned	Unearned revenues Dr. Service revenues Cr.

Current Assets and Non Current assets:

Current assets are those assets that would convert in cash in an accounting period such as accounts receivable, inventory, prepaid expenses, cash equivalents etc whereas noncurrent assets are those assets which would convert in cash in more than 1 accounting period such as Equipments, long term investments, building, long term receivables (Lambert, Leuz, & Verrecchia, 2007).

Current ratios of an organization depict about the liquid stage of the organization whereas the debt ratio of an organization depict the leverage stage of the organization. For Example:

Current assets	8,000.00
Current liabilities	5,000.00
Current ratio	1.6
Total debt	8,000.00
Total assets	12,000.00
Debt ratio	0.67

The table describe that current assets is 1.6 times more than current liabilities. And the debt ratio describes that organization has generated 67% of total assets from the debt amount.

Data Section: Mini Motors
Account	Debit	Credit
Cash	49,380.00
Accounts receivables	121,450.00		Additional data
Supplies	14,670.00		Depreciation on equipment	2860
Prepaid insurance	2,567.00		Accrued Wages expense	500
Equipment	237,654.00		Supplies on hand	450
Accumulated depreciation		107,890.00	Prepaid insurance expired during June	400
Accounts payable		99,870.00	Unearned service revenue earned in June	4600
Wages payable		12,567.00	Accrued service revenue	600
Unearned service revenue		12,345.00
Capital		132,519.00
Drawings	28,900.00
Service revenue		267,890.00
Depreciation and expenses
Wages expenses	165,900.00
Insurance expenses
Utilities expenses	12,560.00
Supplies expenses
Total	633,081.00	633,081.00

Report Section
Mini Motors worksheet, period ended 30th June 2016
	Unadjusted trial	Adjustments	Adjusted trial	Balance sheet	Income statement
	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	49,380.00				49,380.00		49,380.00	0
Accounts receivables	121,450.00				121,450.00		121,450.00	0
Supplies	14,670.00			14,220.00	450.00		450.00	0
Prepaid insurance	2,567.00			400	2,167.00		2,167.00	0
Accrued revenue			600		600.00		600.00	0
Equipment	237,654.00		2860		240,514.00		240,514.00	0
Accumulated depreciation	–	107,890.00		2860		110,750.00	–	110750
Accounts payable	–	99,870.00				99,870.00	–	99870
Wages payable	–	12,567.00		500		13,067.00	–	13067
Unearned service revenue	–	12,345.00	4600			7,745.00	–	7745
Capital	–	132,519.00				132,519.00	–	132519
Drawings	28,900.00	–			28,900.00		28,900.00	0
Service revenue	–	267,890.00		5200		273,090.00				273,090.00
Depreciation and expenses	–	–			–				–	–
Wages expenses	165,900.00	–	500		166,400.00				166,400.00	–
Insurance expenses	–	–	400		400.00				400.00	–
Utilities expenses	12,560.00	–			12,560.00				12,560.00	–
Supplies expenses		–	14,220.00		14,220.00				14,220.00	–
Total	633,081.00	633,081.00	23,180.00	23,180.00	637,041.00	637,041.00	443,461.00	363,951.00	193,580.00	273,090.00
Net income/loss									79,510.00
								79,510.00
Balancing							443,461.00	443,461.00

Formula View

Report Section
Mini Motors worksheet, period ended 30th June 2016
	Unadjusted trial	Adjustments	Adjusted trial	Balance sheet	Income statement
	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	=C6				=C29+E29-F29		=G29	=H29
Accounts receivables	=C7				=C30+E30-F30		=G30	=H30
Supplies	=C8			=C31-450	=C31+E31-F31		=G31	=H31
Prepaid insurance	=C9			=G11	=C32+E32-F32		=G32	=H32
Accrued revenue			=G13		=C33+E33-F33		=G33	=H33
Equipment	=C10		=F35		=C34+E34-F34		=G34	=H34
Accumulated depreciation	=C11	=D11		=G8		=D35+F35-E35	=G35	=H35
Accounts payable	=C12	=D12				=D36+F36-E36	=G36	=H36
Wages payable	=C13	=D13		=G9		=D37+F37-E37	=G37	=H37
Unearned service revenue	=C14	=D14	=G12			=D38+F38-E38	=G38	=H38
Capital	=C15	=D15				=D39+F39-E39	=G39	=H39
Drawings	=C16	=D16			=C40+E40-F40		=G40	=H40
Service revenue	=C17	=D17		=E38+E33		=D41+F41-E41				=H41
Depreciation and expenses	=C18	=D18			=C42+E42-F42				=G42	=H42
Wages expenses	=C19	=D19	=F37		=C43+E43-F43				=G43	=H43
Insurance expenses	=C20	=D20	=F32		=C44+E44-F44				=G44	=H44
Utilities expenses	=C21	=D21			=C45+E45-F45				=G45	=H45
Supplies expenses		=D22	=F31		=C46+E46-F46				=G46	=H46
Total	=SUM(C29:C46)	=SUM(D29:D46)	=SUM(E29:E46)	=SUM(F29:F46)	=SUM(G29:G46)	=SUM(H29:H46)	=SUM(I29:I46)	=SUM(J29:J46)	=SUM(K29:K46)	=SUM(L29:L46)
Net income/loss									=L47-K47
								=I47-J47
Balancing							=I47+I49	=J47+J49

Report Section Four Changes
Mini Motors worksheet, period ended 30th June 2016
	Unadjusted trial	Adjustments	Adjusted trial	Balance sheet	Income statement
	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	49,380.00				49,380.00		49,380.00	0
Accounts receivables	1,21,450.00				1,21,450.00		1,21,450.00	0
Supplies	24,670.00			25,220.00	(550.00)		(550.00)	0
Prepaid insurance	2,567.00			400	2,167.00		2,167.00	0
Accrued revenue			600		600.00		600.00	0
Equipment	2,37,654.00		2860		2,40,514.00		2,40,514.00	0
Accumulated depreciation	–	1,07,890.00		2860		1,10,750.00	–	110750
Accounts payable	–	99,870.00				99,870.00	–	99870
Wages payable	–	17,567.00		500		13,067.00	–	13067
Unearned service revenue	–	12,345.00	4600			7,745.00	–	7745
Capital	–	1,32,519.00				1,32,519.00	–	132519
Drawings	28,900.00	–			28,900.00		28,900.00	0
Service revenue	–	2,67,890.00		5200		2,73,090.00				2,73,090.00
Depreciation and expenses	–	–			–				–	–
Wages expenses	1,65,900.00	–	500		1,66,400.00				1,66,400.00	–
Insurance expenses	–	–	400		400.00				400.00	–
Utilities expenses	17,560.00	–			17,560.00				17,560.00	–
Supplies expenses		–	25,220.00		45,220.00				45,220.00	–
Total	6,48,081.00	6,38,081.00	34,180.00	34,180.00	6,72,041.00	6,37,041.00	4,42,461.00	3,63,951.00	2,29,580.00	2,73,090.00
Net income/loss									43,510.00
								78,510.00
Balancing							4,42,461.00	4,42,461.00

References:

Lambert, R., Leuz, C., & Verrecchia, R. E. 2007. Accounting information, disclosure, and the cost of capital. Journal of accounting research, 45(2), 385-420.

Accountingexplained. 2017. Non-current assets. Retrieved March 24, 2017, from https://accountingexplained.com/financial/non-current-assets/

Duska, R., Duska, B.S., Ragatz, J.A. 2011. Accounting Ethics. John Wiley & Sons.

IPA. 2017. Home. Retrieved March 24, 2017, from https://www.publicaccountants.org.au/

Kieso, D. E., Weygandt, J. J., & Warfield, T. D. 2010. Intermediate accounting: IFRS edition (Vol. 2). John Wiley & Sons.

Myaccountingcourse. 2017. Adjusting Entries. Retrieved March 24, 2017, from https://www.myaccountingcourse.com/accounting-cycle/adjusting-entries

Nobes, C., & Parker, R. H. 2008. Comparative international accounting. Pearson Education.

Plagiarism.org. 2017. What is Plagiarism? Retrieved March 24, 2017, from https://www.plagiarism.org/plagiarism-101/what-is-plagiarism/

Sciencedaily. 2017. Computer Security: Reducing risks of malware infections. Retrieved March 24, 2017 https://www.sciencedaily.com/releases/2013/12/131216142931.htm

Zimmerman, J. L., & Yahya-Zadeh, M. 2011. Accounting for decision making and control. Issues in Accounting Education, 26(1), 258-259.

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