1.  The career that I decided to make this report about this week is Corporate Financing. The reason I choose this career is because it seems very interesting and intriguing. Working in corporate finance means you would assist a company finding money to run the business, to make sure the business grows, make purchase, and plan for what the future hold financially and take care of managing any money in hand.

A person wanting to be involved in a career like Corporate Finance  will have to obtain certain skills, like problem solving, communication, management skills, and also technology savvy; these are just a few of the skills required to be successful in corporate finance. The minimum requirement to work in this field is usually a bachelor’s degree; some might even require a master’s degree. The starting salaries in corporate finance with bachelors can range between $35,000 to $50,000, which to me is not much considering all that they do for a business.   If a person has a Master of Business Administration (MBA) degree a starting salary in Corporate Finance can range from $55,000 to $80,000.

Corporate Finance is a very interesting career. I was shocked to discover that with bachelors a person can only make $35,000, don’t get me wrong that is not bad at all but, from what I learned from research about this report they do a lot for a company, they care of all the finances which is what keeps a company up and running.

2. Financial analysts provide guidance to businesses and individuals making investment decisions.  Some of their job functions include studying economic and business trends, evaluating current and historical financial data, examining companies’ financial statements to determine their value, and writing reports that explain their analyses. They can work in banking, pension funds, mutual funds, securities firms, insurance companies, and other businesses. 

Those looking to work as a financial analyst would need to earn as a minimum a bachelor’s degree in fields such as accounting, economics, finance, statistics, or mathematics. For advanced positions, employers often require a master’s degree in business administration or a master’s degree in finance. Many in the field also become certified financial analysts and employers often sponsor certification and licensing programs.

The median salary for a financial analyst is around $78,000 per year.  There are opportunities for upward mobility and higher pay associated with being a financial analyst. However, the job can be highly stressful as many analysts work approximately 50-70 hours per week. Much of their days are filled with telephone calls and meetings while their research is usually done after office hours.

Reference:

Financial Analyst – Career Rankings and Salary.  Retrieved on September 26, 2016 from http://money.usnews.com/careers/best-jobs/financial-analyst

Question 1
The protocol that allows computers to locate and communicate with each other is called:

A. TCP/IP.
B. ISP.
C. PPP.
D. URL.
 
 
Question 2
Of the factors that have been identified as particularly important to online reading, which relates to how easily readers can move through and locate places on the Web?

A. Responsiveness
B. Navigation
C. Legibility
D. Equipment and service
 
 
Question 3
When Web site designers consider the framework that structures the information in such a way that that it meets the goals and expectations of the user, they are considering:

A. online video presentations.
B. content.
C. page/screen design.
D. information architecture.
 
 
Question 4
Which link’s primary function is to authenticate the site and its content by describing the organization’s legal status, its formal policies, contact information, and so on?

A. Authorizing
B. Commenting
C. Referencing/Citing
D. Exemplifying

Question 1
Color can be misused when there are too many colors, too much color, inappropriate colors, or when:

A. colors are used as symbols, such as when neon orange is used to signify warnings.
B. the intensity differs according to purpose.
C. colors attract attention to a topic.
D. color is used simply as decoration, contradicting the basic premise that color in technical documents should be functional.
 
 
Question 2
According to the OSHA and APWA Safety Colors chart, which of the following is a correct match?

A. Red = WARNING
B. Yellow = CAUTION
C. Blue = SAFETY
D. Green = NOTICE
 
 Question 3
The seven important uses of color are: signaling safety, attracting attention, enabling accurate identification, showing structure and organization, highlighting components and their function or movement, aiding comprehension, and:

A. decorating documents.
B. guiding reading.
C. influencing interpretation.
D. organizing information.
 
 Question 4
Which of the following is the most common way to collect information about visitors to Web sites?

A. Hit counters
B. Adware
C. Spyware
D. Cookies

1. Defendant Smith’s act helped cause an accident. The judge rules that Smith’s act wasn’t 
a proximate cause of the accident, however. Several other defendants are involved. The
plaintiff obtains a judgment for $10,000. Which of the following statements is correct?
A. The plaintiff can’t recover from Smith.
B. The plaintiff will recover that portion of the $10,000 from Smith equal to Smith’s 
percentage of responsibility for the accident.
C. Under the doctrine of joint and several liability, the plaintiff can make Smith pay 
the whole $10,000.
D. The judge made an error. Proximate cause is a legislative issue, not a matter 
for judges or juries to decide.
2. You’re seen running from a jewelry store that has just been robbed. The jeweler gives
chase and just as he catches up with you, you throw a bag into the river. The jeweler performs a citizen’s arrest and holds you until the police arrive. Because the bag in the river
was never found, at trial you’re declared “not guilty.” You sue the jeweler. What is the likely
outcome?
A. You lose. There’s no tort that protects people from being confined unfairly.
B. You win because there was no basis to suspect you of stealing.
C. You lose because your detention was reasonable. There was a real basis for 
suspecting you of the crime.
D. You lose. Shop owners can hold anyone they want if they suspect them of stealing.
3. A broker told you the size of the grass area of the yard of the house you bought was 6,000 square feet. However, the grass covered only 5,000 square feet. The lawn size meant nothing to
you; you didn’t want a big yard anyway because you hated mowing. You liked the house because it was near a mall and good schools. But after buying the house, you realized that the
floor plan was terrible and you wanted out. You sue the broker for misrepresentation concerning the yard.
A. You don’t win because the misrepresentation didn’t actually mislead you in a way that caused harm. The element of  causation of the harm was lacking.
B. You don’t win because the broker was only reckless in  coming up with that footage figure, and didn’t intentionally lie.
C. You win because brokers are agents and should be punished for any misrepresentation, even done in good faith.
D. You win because the misrepresentation was about something important
4. Your friend from Australia visits. You invite him to a hockey game. “What’s hockey, mate?”
he asks. Only a few minutes into the game he sees a hockey puck coming straight at him.
Your friend has had a few beers and fails to duck and is knocked unconscious. He sues
the hockey team. Which is the better defense for the team?
A. Assumption of risk
B. Contributory/comparative negligence
C. Sovereign immunity
D. Failure to mitigate

1. which of the following is accounted for as a change in accounting principle? 
A change in inventory valuation from average cost to FIFO
A change from the cash basis of accounting to the accrual basis of accounting
A change in the estimated useful life of plant assets
A change from expensing immaterial expenditures to deferring and amortizing them as they become material

2. A company decides to switch from double-declining balance method to that straight-line method of recording depreciation. What type of change/correction is this? 
Change in accounting principle
Change in reporting entity
Change in accounting estimate
Correction of an error

3. On December 31, 2013, Gifts Galore, Inc. appropriately changed its inventory valuation method from weighted-average cost to FIFO method for financial statement and income tax purposes. The change will result in a $3,600,000 increase in the beginning inventory at January 1, 2013. Assume a 35% income tax rate. The cumulative effect of this accounting change on beginning retained earnings is 
$0.
$1,260,000.
$3,600,000.
$2,340,000.

4. As of January 1, 2011, Survival Industries, Inc. purchased a boat at a cost of $360,000.
When purchased, the company was using the double-declining depreciation method.
Key info on the asset at time of purchase is the following.
Estimated useful life is 6 years.
Residual Value is $0.
At the beginning of 2014, the CFO decided to change to straight-line depreciation method.
Compute the depreciation expense for 2014. 
$35,556
$10,667
$60,000
$120,000

5.  Mystical Corporation found the following errors in their year-end financial statements.
As of Dec. 2012 As of Dec. 2013
Ending Inventory $32,000 understated $46,000 overstated
Depreciation Exp. $7,000 understated
On December 31, 2013, a fully depreciated machine was sold for $35,000 but the sale was not recorded until January 15, 2014 when the cash was received. In 2012, a three-year insurance premium was prepaid for $45,000 of which the entire amount was expensed in the first year.
There were no other errors or corrections. Ignore any tax considerations.

What is the total net effect of errors on Mystical’s 2013 net income? 
Retained earnings understated by $29,000
Retained earnings understated by $4,000
Retained earnings understated by $-3,000
Retained earnings overstated by $18,000

6.  Current GAAP requires that time period(s) should be used when recording a change in accounting estimate

current and retrospectively.
current and prospectively.
current only.
retrospectively only.

7.  As of January 1, 2011, Survival Industries, Inc. purchased a boat at a cost of $400,000.
When purchased, the company was using the double-declining depreciation method.
Key info on the asset at time of purchase is the following.
Estimated useful life is 8 years.
Residual Value is $0.
At the beginning of 2014, the CFO decided to change to straight-line depreciation method.
Compute the depreciation expense for 2014.

$50,000
$80,750
$33,750
$16,875

8.  Mystical Corporation found the following errors in their year-end financial statements.
As of Dec. 2012 As of Dec. 2013
Ending Inventory $32,000 understated $46,000 overstated
Depreciation Exp. $7,000 understated
On December 31, 2013, a fully depreciated machine was sold for $35,000 but the sale was not recorded until January 15, 2014 when the cash was received. In 2012, a three-year insurance premium was prepaid for $45,000, of which the entire amount was expensed in the first year.
There were no other errors or corrections. Ignore any tax considerations.
What is the total net effect of errors on Mystical’s 2013 net income?

Net income understated by $39,000
Net income overstated by $32,000
Net income overstated by $51,000
Net income overstated by $58,000