Scenario:
As a Practice Manager for Dr. Smith and Dr. Brown, you are tasked with preparing a report that illustrates your knowledge of computing inventory and depreciation methods. After analyzing Dr. Smith and Dr. Brown’s Financial Statements, and performing the necessary calculations, you will decide on the feasibility of purchasing the equipment based on your computations and analysis of the financial statements. In addition, you will explain the rationale for your choice and make a recommendation for the practice.
Download and complete the attachment. You will need to ensure that your responses are thorough and written in your own words; give examples as required and list references in APA format in the space provided within the template. When completed, the document will be at least eight pages in length. With that said, the items below illustrate the required components to be completed. NOTE: Information to calculate inventory and depreciation is included in the inventory attachment.
Part 1: Inventory Concept and Calculations
· Discuss the inventory concept
· List an example of an inventory item and discuss how the item moves from inventory to COGS (Costs of Goods Sold). Include information on the meaning of COGS.
· Calculate the cost of ending inventory and COGS using the information provided within the template.
o FIFO
o LIFO
o WEIGHTED-AVERAGE
Part 2: Define the Five Methods for Computing Book Depreciation
· Define each of the following methods for computing book depreciation:
o Straight Line Depreciation Method
o Accelerated Book Depreciation: Sum of Years’ Digits (SYD) Method
o Accelerated Book Deprecation: Double Declining Balance (DDB) Method
o Accelerated Book Deprecation: 150% Declining Balance Method
Part 3: Calculating Depreciation
· Calculate depreciation for three of the depreciation methods identified in the template.
o Example of Straight-Line Depreciation Method
o Example of Accelerated Book Depreciation: SYD Method
o Example of Accelerated Book Deprecation: DDB Method
Part 4: Analysis of Depreciation Methods
· Explain which method would be more feasible for healthcare organizations to use
o Hospital
o Physician practice
· Explain why it is important for a healthcare organization or physician practice to use a depreciation method.
Part 5: Recommendation
· What is the depreciation method you would recommend to Dr. Smith and Dr. Brown to purchase the fixed asset? Explain the rationale for your choice.
Paper Criteria:
The ATTACHMENT once completed,
· Should demonstrate an understanding of the reading assignments, class discussions, your own research, and the application of new knowledge.
· Must have substantive responses within the template and include complete sentences in paragraph format, including citations for each reference listed.
· Must use at least one scholarly source from the Ashford Library in addition to the course text.
· Must cite any information used from sources in APA style
· Must utilize academic voice.
· Must include references within the space provided in the template. Reference must be formatted according to APA style.
http://www.sbscpagroup.com/blog/depreciation-and-why-it-is-important-to-your-business/
https://smallbusiness.chron.com/methods-depreciation-5194.html
DUE 12/19 @9am eastern w/plag report
read directions carefully and open attachments
They have a magnificent team. These people are always kind and willing to listen to your concerns or issues. Better yet, your assignment is always ready before the time, they usually send you a draft to double-check before they finalize your paper.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more