Accounting for debt is important in businesses

Accounting for debt is important in businesses

  1. Discussion for Accounting  Please use the book for Survey for Accounting published by Wiley Version P2BS-11 (Paul Kimmel; Jerry Weygandt)

 

Topic 1: Accounting for debt is important in businesses. Understanding the accounting for current and long-term liabilities is important in understanding the solvency of a business. In this Discussion, you will look at how businesses finance operations through debt.

Rayborn Company obtains $20,000 in cash by signing a 9%, 6-month, $20,000 note payable to First Bank on July 1. Rayborn’s fiscal year ends on September 30. What information should be reported for the note payable in the annual financial statements? What disclosure is required? Why is this important?

 

  1. How would you respond to Elizabeth? Do not forget to use references if used.

 

 

There would be an increase in cash asset and notes payable liability of $20,000. By September 30th there would be 3 months of interest earned on the note payable, this would be noted as $450 (20,000*9%*3/12). The $450 would be noted as an expense and an increase in interest payable. The information that would need to be disclosed would be the original amount, what the monthly payment is, the interest rate and the maturity date. (Miller, 2010) This is important because the note payable has not fully matured yet as well, it lets anyone know (those that are interested in the companies financial statements) more about the money.

-Elizabeth

Miller, S. H. (2010, December 03). Common disclosures. Retrieved from Nonprofit accounting basics: https://www.nonprofitaccountingbasics.org/financial-statementsreporting/common-disclosures

 

 

  1. How would you respond to Maleaha? Please do not forget the references

Good morning Professor and classmates,

For Rayborn Company, there would be an increase in cash asset and notes payable liability of $20,000. For what the company borrowed. By September 30th there would be 3 months of interest earned on the note payable, this would be noted as $450 while using the formula (20,000*9%*3/12). For the $20,000 times the 9% interest rate times 3 months divided by the 12 months in a year. The $450 would be noted as an expense and an increase in interest payable. So he paid the $450 that was due and that is a credit for interest payable.

The information that would need to be disclosed would be what the cost from the beginning would be, what the monthly payment will be, the interest rate that they are using and the end date. Also, says Strength Matters,  “Significant categories are identified, such as mortgages, related-party notes, etc. • Interest rates, maturity dates, pledged assets and restrictive covenants • Effective rate of interest for discounted notes for unreasonable stated interest rates • Amount of any capitalized interest incurred during the year • Principal payments due within each of the next five years • Description and terms of short-term debt expected to be refinanced, if excluded from current liabilities, if the organization identifies current/noncurrent liabilities, which is recommended but not required for not-for-profit organizations”

This is important so the company that is loaning and who is borrowing knows what the stipulations are. Insuring everyone is understanding of the loan will be helpful for both parties but more importantly for the Rayborn Company because they will be in a world of hurt if they don’t pay for it on time and the correct amount.

Maleaha

https://cdn.shopify.com/s/files/1/0541/5533/t/5/assets/smi_present_of_fin_stmt_disclosures_notes_payable_110513.pdf

 

  1. Discussion for Human Resources Management Please use the book for Fundamentals of Human Resources Management, 7th Edition Publisher McGraw-Hill Learning Solutions(Raymond Noe; John Hollenbeck;Barry Ger……) Version P2BS-11. PLEASE DO NOT FORGET THE REFEREFNCES

 

Throughout this course, many discussion opportunities come up where you need to respond to other people’s opinions and comments. Respond to your Discussion topic after you have completed your reading.

Topic: Development Methods

You read about and practiced with several different methods of developing employees in your Reading. Now you will apply what you learned to answer the following questions:

  • What are the four broad categories of employee development methods?
  • In an organization that wants to use work experience as a method of employee development, what basic options are available?
  • What are the three roles of a coach? How is coaching different from mentoring? What are some advantages of using someone outside the organization as a coach? Some disadvantages?

 

  1. Assignment For HRM Please use the same book! Please use the book for Fundamentals of Human Resources Management, 7th Edition Publisher McGraw-Hill Learning Solutions(Raymond Noe; John Hollenbeck;Barry Ger……) Version P2BS-11. PLEASE DO NOT FORGET THE REFEREFNCES

PLEASE GIVE ME AT LEAST 500 WORDS. THAT IS NOT INCLUDING THE TITLE AND REFERENCE PAGE.

The following outcomes are assessed in this Assignment:

MT203-4: Describe training methods for improving employee performance.

GEL-7.02: Apply ethical reasoning to ethical issues within the field of study.

Talent Turnover and Ethics

Introduction: Using the appropriate training and development methods can have significant effects on employee performance and the success or failure of a company. Similarly, ethics also can impact how employees and the company are perceived which can ultimately affect the success of the company.

Read the scenario and address the checklist items regarding employee training, development, and ethics.

Scenario: The technology company you work for has had difficulties resulting from expert employees leaving the company after only six months to a year of employment. This turnover has caused client software projects to not be completed as scheduled. The CEO has turned to you as the HR Director to find out what is wrong and to recommend a remedy. You do some initial investigations only to find that employees at this level of expertise are working 60 hours a week or more on a regular basis. You are concerned not only for the business implications of this attrition problem but the ethical implications.

Checklist:

  • Describe the company’s problem in your own words from a business and ethical perspective.
  • Choosing one of the ethical approaches, describe what ethical approach you would use for the development of these employees and explain why.
  • Describe the training and development methods you would use to improve employee morale, motivation, and to reduce attrition.

Access the rubric

Submit your minimum 2-page (i.e., 500 words) response in an original essay with an additional title and reference page in APA format to the Dropbox.

Disclaimer: The organization and characters depicted in this exercise are fictional. Any resemblance to real organizations or individuals is purely coincidental.

 

  1. How would you respond to Danielle S.

Hello class, the four broad categories of employee development methods are formal education, assessment, job experiences, and interpersonal relationships. Many organizations offer education programs as a way to further the employee’s development. Assessment develops the employees by offering them feedback about their skills. Job experiences are the day to day events that add to the employee’s development. Interpersonal relationships benefit employees because it allows them to further development by speaking to organization members with more experience. In an organization that wants to use work experience as a method of employee development there are some simple options available to them. Work experience are the things that happen on a day to day basis. To further an employee’s development, they could be tasked with a situation that they may not have had to deal with before. This will increase their knowledge of that situation allowing them to resolve it better the next time. Three roles of a coach are to motivate the employee, help develop skills and give the employee feedback. Coaching is different from mentoring because a mentor is a senior employee who helps less experienced employees. Advantages of using someone outside the organization as a coach is that the employee will not associate that person with work, so it may boost morale. A disadvantage is that the coach may not have all the information about the organization to properly motivate, develop skills, or provide feedback.

 

 

  1. How would you respond to Derrick

The four categories of employee development methods are job experiences, interpersonal relationships, formal education, and assessment. Job experiences are the culmination of the demands, tasks, problems, and relationships a worker develops over their career. Interpersonal relationships benefit the employee through the increase of knowledge and skills from interactions with senior level employees. Formal education is used to facilitate knowledge that can not be learned from on the job training or learning but from an institute of higher learning, workshops offered through the firm, programs, and other courses. Assessment is the collection and feedback about behaviors, how the employees communicate, and their skills. The use of psychological profiles, indicators, and performance appraisals (Gerhart, Hollenbeck, Noe, & Wright, 2018).

Organizations that want to use work experience as a method of developing employees can use the basic methods of promotion, job rotations, transfers, and temporary assignments to other organizations. These different types of developments are used to further the employee’s knowledge and to prepare them for their future careers. Developing the employee over the course of their career will help them to gain useful knowledge for the organization. This will need to be done through the use of the job experiences, formal education, assessments, and interpersonal relationships.

There are three roles of a coach, giving feedback one-on-one with an employee, helping employees obtain feedback from others, and providing resources such as mentors, courses, and job experiences (Gerhart et al., 2018). Coaching is explaining to the employee about how they are developing professionally where mentoring is using your experience as a senior level employee to help develop the lesser experienced employees. Coaching from an external source can be advantageous for the employees because they get a fresh set of eyes looking at how they are developing as an employee, they have a high level of credibility, and can be specialized in their field. The disadvantage of using an external coach is the person may not know the full extent of the organization policies and culture, can be costly to the firm and may not always be available (Hatoum, R., 2015).

 

 

References

Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2018). Fundamentals of human resource management (7th). New York, NY: McGraw-Hill

Hatoum, R., (2015). Pros & cons of internal coaching vs external coaching. Retrieved from https://www.linkedin.com/pulse/pros-cons-internal-coaching-vs-external-raja-hatoum/

 

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