Riley Company promises to pay Janet Anderson or her estate $150,000
Case 3
Riley Company promises to pay Janet Anderson or her estate $150,000 per year for the next 10 years, even if she leaves the company or passes away to try to induce her to stay with the company. Riley Company wants to properly record this transaction as deferred compensation, but is unsure how to record the cost. In addition, Riley Company purchased a whole life insurance policy for Janet, naming the company as the beneficiary. Reed Company wants to determine if it can offset the cash surrender value of the life insurance policy against the deferred compensation liability.
Research Memorandum and Presentation
Objectives
The objective of this accounting research project is to help you transfer the concepts and research techniques that you learn from the course to a case study example.
Guidelines
-
- The Research Memorandum (due in Week 7) is the signature assignment for the course and must conform to APA format and be at least three to five pages in length, not including references.
- This is an individual and team assignment. The weekly assignments for weeks 1-6 are all individual. Then in week 7 you come together as a team, share your weekly assignment material, and create the required memo as a team event. To finish week 7, a peer-review template (due in Week 7) must be completed by each team member.
- PowerPoint Presentation (due in Week 8) must be at least 8–10 pages in length. The presentation will not be presented live. Please add audio to your presentation either using the PowerPoint function or another multimedia option or teams may elect to provide a full set of notes indicating what would be stated during the presentation. This is a team assignment.
- Spend no more than one page describing the situation.
- Paper and presentation must cite authoritative bodies.
Milestones
|
Week |
Milestones |
Points |
|
Week 1 |
Read through each of the cases from the provided choices (found in the Files section of the Course Menu). Select the one case you would like to work with and see if there are open slots for that case in the teams. Since you have to self-enroll in your group or team, and that team number relates to the case number for each project, you must enroll in Group/Team 1, if you select Case 1 to research; Group/Team 2, if you select Case 2 to research; and so on. However, a maximum of 5 students can be in any one Group/Team and the first 5 to enroll in that group/team are allowed to work together on that case. If the Group/Team is full, then you need to select a different case. Groups/Teams CANNOT have less than 3 members; if you see yourself in a 1 or 2 member group, please select a different case and self enroll in a different group. Post an introduction announcement in your Group/Team area and provide them with your contact information (email, phone, time zone, etc. Complete this Group selection step and then begin working on your individual aspect of the selected case. Write your initial thoughts regarding the case and the project. Check the Course Project Overview in the Introduction and Resources module for a summary of the project and the detailed instructions for this week. To earn points this week, copy/paste your Group/Team selection, showing the Case # you are working with. Then write up 5-7 sentences (good paragraph) with a reference to the case as found in this class material and provide by the end of week 1. |
25 |
|
Week 2 |
In a minimum of 5 to 7 sentences, summarize the background of your case and indicate any assumptions that you are making regarding the case. Define your problem statement and research question(s). Include an APA Reference and citation. Individual Assignment. |
25 |
|
Week 3 |
In a minimum of 5 to 7 sentences, identify the key terms in your case, and state why you believe each is relevant to your case. Include an APA Reference and citation. Individual Assignment. |
25 |
|
Week 4 |
Gather data from multiple sources and present that data in one to two pages (12-point font, double-spaced). Be sure to document your sources. Include an APA Reference and citation. Individual Assignment. |
25 |
|
Week 5 |
Organize and interpret the findings of your research in one to two pages (12-point font, double-spaced). Include an APA Reference and citation. Individual Assignment. |
25 |
|
Week 6 |
Develop your recommendations and conclusions and state them and their rationale in one to two pages (12-point font, double-spaced). Include an APA Reference and citation. Individual Assignment. |
25 |
|
Week 7 |
Using the guidelines above, prepare a comprehensive research memorandum on the case that you chose. All students must work with their assigned team to create this memorandum. Team Assignment. |
200 |
Acceptable references
- DeVry Library Services
http://library.devry.edu - Internal Revenue Service
http://www.irs.gov - International Accounting Standards Board
http://www.iasb.org - Securities and Exchange Commission
http://www.sec.gov - Public Company Accounting Oversight Board
http://www.pcaobus.org - Financial Accounting Standards Board
http://www.fasb.org - Government Accounting Standards Board
http://www.gasb.org - American Accounting Association
http://www.aaahq.org - American Institute of Certified Public Accountants
http://www.aicpa.org - National Association of State Boards of Accountancy
http://www.nasba.org - Institute of Management Accountants
http://www.imanet.org - Association of Certified Fraud Examiners
http://www.acfe.com - International Federation of Accountants
http://www.ifac.org - Database that includes Revenue Rulings
http://www.legalbitstream.com/ - Electronic Code of Federal Regulations
http://www.ecfr.gov/cgi-bin/ECFR?page=browse - U.S. Tax Court
http://www.ustaxcourt.gov/
-
Rating:
/5
Solution: Riley Company promises to pay Janet Anderson or her estate $150,000