Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are required to complete three parts of the final project. PART A-Data Extraction and Analysis [20 points) Juan Esquibel, CPA, LLC is a new

image text in transcribed

You are required to complete three parts of the final project. PART A-Data Extraction and Analysis [20 points) Juan Esquibel, CPA, LLC is a new CPA firm in a city. They offer accounting, bookkeeping, tax preparation and other consulting services to small and medium sized businesses. They want to offer new services in a city. They want to find the new business opportunities. Imagine that you have been hired by Juan Esquibel. You are required to analyze the existing accounting and law firms and their services and recommend which new service(s) they should launch. To do that you should follow the steps below: 1) Extract all accounting firms' information from yelp.com by using Web Scrape. 2) Present the existing services offered by the existing firms in the city. 3) Recommend which one is best to launch. Briefly state your reasoning. Special instructions: The results of your analysis must be presented visually. You should use Excel Pivot Table/Tableau Desktop. You will be applying basic Excel skills such as IF, SUMIF, and COUNTIF. PART B-Impact of ASC 606 (Revenue from Contracts with Customers) on Revenue and retained Earnings [20 points) Revenue from Contracts with Customers (ASC 606) is a new revenue recognition standard that affects all businesses that enter into contracts with customers to transfer goods or services. Both private and publicly held companies should have started to comply with the new ASC 606 from 2017 and 2018. The main purpose of the standard is to eliminate variations in the way businesses across industries handle accounting for similar transactions. In this report you are required to show impact of ASC606 on companies' revenue and retained earnings. You have to follow the steps below: 1) Collect data on the adoption of ASC606 of 40 companies. Collect their revenue and retained earnings data before and after adoption of ASC 606. You should find all the data on SEC Edgar. 2) Report your findings both in tabular and visual format. You should use Excel Pivot Table/Excel Power BI/Tableau Desktop 3) Write a report. You are required to complete three parts of the final project. PART A-Data Extraction and Analysis [20 points) Juan Esquibel, CPA, LLC is a new CPA firm in a city. They offer accounting, bookkeeping, tax preparation and other consulting services to small and medium sized businesses. They want to offer new services in a city. They want to find the new business opportunities. Imagine that you have been hired by Juan Esquibel. You are required to analyze the existing accounting and law firms and their services and recommend which new service(s) they should launch. To do that you should follow the steps below: 1) Extract all accounting firms' information from yelp.com by using Web Scrape. 2) Present the existing services offered by the existing firms in the city. 3) Recommend which one is best to launch. Briefly state your reasoning. Special instructions: The results of your analysis must be presented visually. You should use Excel Pivot Table/Tableau Desktop. You will be applying basic Excel skills such as IF, SUMIF, and COUNTIF. PART B-Impact of ASC 606 (Revenue from Contracts with Customers) on Revenue and retained Earnings [20 points) Revenue from Contracts with Customers (ASC 606) is a new revenue recognition standard that affects all businesses that enter into contracts with customers to transfer goods or services. Both private and publicly held companies should have started to comply with the new ASC 606 from 2017 and 2018. The main purpose of the standard is to eliminate variations in the way businesses across industries handle accounting for similar transactions. In this report you are required to show impact of ASC606 on companies' revenue and retained earnings. You have to follow the steps below: 1) Collect data on the adoption of ASC606 of 40 companies. Collect their revenue and retained earnings data before and after adoption of ASC 606. You should find all the data on SEC Edgar. 2) Report your findings both in tabular and visual format. You should use Excel Pivot Table/Excel Power BI/Tableau Desktop 3) Write a report

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

12th Edition

9780073526706

Students also viewed these Accounting questions