WHAT IS A SENIOR ACCOUNTANT?Senior accountants take ownership of reporting costs, profitability, margins and expenditures for a given business. They use the principles of accounting to analyze sales information, create financial reports, make recommendations about the financial health of the company, and more. They are also responsible for training junior accounting staff.For the last six months, SunsTruck has partnered with the discount retail store to run a pop-up sunglasses stand in their stores for a big summer promotion. Due to the high customer purchase rate, the store has requested stock for five additional stores. SunsTruck needs to increase its capacity to meet the additional demand. In order to do so, SunsTruck needs additional money.In this assignment, you will need to help determine which type of financing option is best for your company and train your junior accountants on the accounting cycle and financial statements.
Instructions
Question 1: FinancingThe junior accounting team has assembled a Financing Report that:offers three options for securing the additional funds required to meet the new order.details the criteria Shaun, the owner of SunsTruck, would like you to consider when choosing one of the three options.Based on this report, identify which financing option you think is the best option for SunsTruck to pursue given Shaun’s constraints. Please explain the rationale for your decision.
Question 2: Accounting CycleA junior accountant is working to get everything in order for the new financing and has come to you with a question about what to do next in the accounting cycle. Read the email the junior accountant sent you and identify the best next step to take in the accounting cycle. Please explain your reasoning.
Question 3: Financial StatementsA potential investor has been identified, but before it is willing to commit, it has requested information about SunsTruck’s current debt from the junior accountants. Identify the correct financial statement for your junior accountants that will provide the investor with the information it has requested. Please explain to your junior accountants why you are giving them this financial statement and where the debt information is located.ASSIGNMENT #2 TEMPLATE – BUSINESS 100
NAME:
QUESTION 1: FINANCING
Based on your analysis of the owner’s wishes (Shaun’s criteria) and the three financing options
available, which financing option would be the best option?
● Option 1: Equity.
● Option 2: Debt.
● Option 3: Debt and Self Financing.
Include your answer in your response below and also explain why you selected that type of
financing based on Shaun’s criteria and what you know about that financing option.
QUESTION #2: ACCOUNTING CYCLE
So, given what the Junior Accountant has done so far, what is the next step for the Junior
Accountant to complete in the Accounting Cycle and why?
QUESTION #3: FINANCIAL STATEMENTS
After reviewing the 3 Financial Statements, please indicate which financial statement (pick one:
income statement, balance sheet, or statement of cash flows) the Junior Accountant should
provide the investor in order to show the debt information.
● Income Statement.
● Balance Sheet.
● Statement of Cash Flows.
Explain where on that financial statement you would find the debt information.
NEXT STEP: SUBMIT YOUR WORK
1. Save this completed template to your desktop.
● Navigation: Select File at the top, then select Save As > Browse > Desktop, select
Save.
2. Log into your class and select Assignment #2 on the left, scroll down and select Submit
Your Work, click Browse My Computer, find your file on the desktop, click Open, then
click Submit.
3. If you have any issues please email me or call
I will provide you assignment feedback and you can then make any changes you would like and
resubmit for grading.
Congrats on completing Assignment #2!
ASSIGNMENT #2 INSTRUCTIONS – BUSINESS 100
Make sure that you have also downloaded the Assignment #2 Template. You will answer the questions
there and submit that file as your assignment.
QUESTION 1: FINANCING
Background Information Needed to Answer Question #1:
Review Shaun’s criteria below to determine the best financing option to expand his business.
SHAUN’S CRITERIA
Hi Team,
I wanted to provide you some guidelines as you determine how we’ll finance our expansion. Please
give this careful consideration, as we need to get this right.
1. I estimate we’ll need $150,000 to increase capacity in order to stock the five additional popup stands.
2. We’ll need to make sure we have additional funds available to increase our marketing
efforts to stimulate demand.
3. Cash flow is going to be tight, so I’d like to minimize interest payments.
4. I’d like to maintain or increase our profit margins.
5. Since I don’t have a lot of experience with big discount
retailers, I’d like to add a thought partner with experience in this channel.
6. If we’re successful over the next two years, we’ll likely seek additional capital to expand into
more stores, so I’d like to do all we can now to enhance our credibility.
7. We need to move on this quickly, so I’d like an answer by the end of the week.
-Shaun
FINANCING OPTIONS
As we have learned, there are pros and cons to all financing methods. Which of the three financing
methods would be the best fit based on Shaun’s criteria above?
Option 1: Equity
Raise $150,000 from a venture capital firm in exchange for 30% of the company.
Option 2: Debt
Secure a loan of $150,000 at a 10% annual interest rate, to be repaid over 7 years.
Assignment #2 Instructions
Page 1 of 6
ASSIGNMENT #2 INSTRUCTIONS – BUSINESS 100
Option 3: Debt + Self-Financing
Secure a loan of $100,000 at a 7% annual interest rate, to be repaid over 7 years, and self-finance the
remaining $50,000.
Assignment #2 Instructions
Page 2 of 6
ASSIGNMENT #2 INSTRUCTIONS – BUSINESS 100
Go to the Assignment #2 Template and complete Question 1.
QUESTION 2: ACCOUNTING CYCLE
Background information needed to answer Question #2:
A junior accountant is working to get everything in order for the new financing and has come to you
with a question about what to do next in the accounting cycle. Read this email from the junior
accountant so you can determine what steps of the accounting cycle she has already completed and
what the next step is to complete.
Assignment #2 Instructions
Page 3 of 6
ASSIGNMENT #2 INSTRUCTIONS – BUSINESS 100
Assignment #2 Instructions
Page 4 of 6
ASSIGNMENT #2 INSTRUCTIONS – BUSINESS 100
As a refresher, here are the 5 Steps to the Accounting Cycle:
Go to the Assignment #2 Template and complete Question 2.
QUESTION 3: FINANCIAL STATEMENTS
Background information needed to answer Question #3:
A potential investor has been identified, but before they are willing to commit, they have requested
information about SunsTruck’s current debt from the junior accountants. You have been charged
with reviewing the financial statements (found in the resources) and providing direction to the junior
accountant to comply with the request from the potential investor.
Identify the correct financial statement for your junior accountants that will provide the investor with
the information it has requested.
Assignment #2 Instructions
Page 5 of 6
ASSIGNMENT #2 INSTRUCTIONS – BUSINESS 100
As a refresher, here are the types of financial statements.
Go to the Assignment #2 Template and complete Question 3.
NEXT STEP: SUBMIT YOUR WORK
1. Save your completed template (not these instructions) to your desktop.
● Navigation: Select File at the top, then select Save As > Browse > Desktop, select Save.
2. Log into your class and select Assignment #2 on the left, scroll down and select Submit Your
Work, click Browse My Computer, find your file on the desktop, click Open, then click Submit.
3. If you have any issues please email me or call.
I will provide you assignment feedback and you can then make any changes you would like and
resubmit for grading.
Congrats on completing assignment #2!
Assignment #2 Instructions
Page 6 of 6
11/3/2020
https://blackboard.strayer.edu/bbcswebdav/institution/BUS/100/1208/RESOURCES/Assignment2_preview.html
FINANCE & ACCOUNTING – SENIOR ACCOUNTANT ANALYSIS
Due Date
Week 5
Note: While representative of possible situations faced by SunsTruck Sunglasses, all scenarios in this assignment are fictional.
Your Role
For this assignment, you’ll assume the role of Senior Accountant with SunsTruck Sunglasses, and answer the three questions presented
below. Your responses to these questions should be typed into the template provided OR typed directly into the assignment submission box.
WHAT IS A SENIOR ACCOUNTANT?
Senior accountants take ownership of reporting costs, profitability, margins and expenditures for a given business. They use the principles of
accounting to analyze sales information, create financial reports, make recommendations about the financial health of the company, and more.
They are also responsible for training junior accounting staff.
For the last six months, SunsTruck has partnered with the discount retail store to run a pop-up sunglasses stand in their stores for a big
summer promotion. Due to the high customer purchase rate, the store has requested stock for five additional stores. SunsTruck needs to
increase its capacity to meet the additional demand. In order to do so, SunsTruck needs additional money.
In this assignment, you will need to help determine which type of financing option is best for your company and train your junior accountants
on the accounting cycle and financial statements.
Instructions
Question 1: Financing
The junior accounting team has assembled a Financing Report that:
a. offers three options for securing the additional funds required to meet the new order.
b. details the criteria Shaun, the owner of SunsTruck, would like you to consider when choosing one of the three options.
https://blackboard.strayer.edu/bbcswebdav/institution/BUS/100/1208/RESOURCES/Assignment2_preview.html
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11/3/2020
https://blackboard.strayer.edu/bbcswebdav/institution/BUS/100/1208/RESOURCES/Assignment2_preview.html
Based on this report, identify which financing option you think is the best option for SunsTruck to pursue given Shaun’s constraints. Please
explain the rationale for your decision.
Question 2: Accounting Cycle
A junior accountant is working to get everything in order for the new financing and has come to you with a question about what to do next in
the accounting cycle. Read the email the junior accountant sent you and identify the best next step to take in the accounting cycle. Please
explain your reasoning.
Question 3: Financial Statements
A potential investor has been identified, but before it is willing to commit, it has requested information about SunsTruck’s current debt from
the junior accountants. Identify the correct financial statement for your junior accountants that will provide the investor with the information
it has requested. Please explain to your junior accountants why you are giving them this financial statement and where the debt information
is located.
Complete Your Assignment
When you are ready to complete and submit your assignment, follow these steps.
Note: You may not be able to Submit the assignment in Blackboard (Step 4) until the week that it is due opens for you. You can however, use
the template and instructions and prepare it early.
1. Download the the following:
Assignment #2 Instructions
Assignment #2 Template
2. Use the information in the instructions to complete the template.
3. Save your completed template (not these instructions) to your desktop.
Navigation: Select File at the top, then select Save As > Browse > Desktop, select Save.
4. Log into your class and select SUBMIT on the week due, scroll down and select the SUBMIT YOUR WORK button.
Note: the SUBMIT YOUR WORK button will not appear until the week the Assignment is due.
5. On the Preview Upload Assignment page, scroll down and click the Browse My Computer button (in the Assignment Submission
area). Find your file on the desktop, click the Open button, then click the Submit button in the bottom right side of the Preview Upload
Assignment page to submit your Assignment.
6. If you have any issues, please contact your professor.
Strayer Writing Standards: This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the
Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
https://blackboard.strayer.edu/bbcswebdav/institution/BUS/100/1208/RESOURCES/Assignment2_preview.html
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ASSIGNMENT #2 TEMPLATE – BUSINESS 100
NAME:
QUESTION 1: FINANCING
Based on your analysis of the owner’s wishes (Shaun’s criteria) and the three financing options
available, which financing option would be the best option?
● Option 1: Equity.
● Option 2: Debt.
● Option 3: Debt and Self Financing.
Include your answer in your response below and also explain why you selected that type of
financing based on Shaun’s criteria and what you know about that financing option.
QUESTION #2: ACCOUNTING CYCLE
So, given what the Junior Accountant has done so far, what is the next step for the Junior
Accountant to complete in the Accounting Cycle and why?
QUESTION #3: FINANCIAL STATEMENTS
After reviewing the 3 Financial Statements, please indicate which financial statement (pick one:
income statement, balance sheet, or statement of cash flows) the Junior Accountant should
provide the investor in order to show the debt information.
● Income Statement.
● Balance Sheet.
● Statement of Cash Flows.
Explain where on that financial statement you would find the debt information.
NEXT STEP: SUBMIT YOUR WORK
1. Save this completed template to your desktop.
● Navigation: Select File at the top, then select Save As > Browse > Desktop, select
Save.
2. Log into your class and select Assignment #2 on the left, scroll down and select Submit
Your Work, click Browse My Computer, find your file on the desktop, click Open, then
click Submit.
3. If you have any issues please email me or call
I will provide you assignment feedback and you can then make any changes you would like and
resubmit for grading.
Congrats on completing Assignment #2!

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