Topic 1: You just opened a small tax practice and discovered your clients are presenting you with a wide variety of receipts, documents, etc. to be used to prepare their tax returns. You want to be able to work more efficiently and to do data analysis later on their information so you decide to do some research and create a client input form using Excel (you may select any area you feel is appropriate ex. track mileage, expenses, fixed assets, etc) for your clients to use that relates back to a specific tax code. Make sure the form you create is user friendly since most of your clients have little to no tax knowledge and design the form so that you can apply data analysis techniques later.
Review the video above and using authoritative sources to back up your position, justify the need for this standardized client input form for your tax clients based on a specific tax code section. Once you have established the information you would like your tax clients to track for you throughout the year, create an input form in Excel based on the steps in the video. As part of your discussion explain why you selected the particular fields in this form as they relate to the specific tax code section you selected and explain the overall design of your form as far as easy for clients to use. Upload a copy of your Excel file with at least 5 entries for others to view and comment.
As part of your response, test the form presented by another student and discuss, from a client perspective, if you find the form user friendly, if you think it provides the detail needed to meet the law, etc.
Topic 2: Using the FASB Codification System (link in Getting Started) research and select an area where you feel a standardized Excel input form would be helpful to track the necessary data needed to meet the standard for financial reporting (you may select any area you feel is appropriate ex. leases, fixed assets, foreign exchange, etc). This form could be used by your audit clients or staff so be sure to identify who will be using the form. Be sure the form design promotes the use of data analysis techniques later.
Review the video in Topic 1 and once you have established the information you would like to track, create an input form in Excel based on the steps in the video. As part of your discussion explain the specific reason, related to the standard, why you selected the particular fields, the overall design of your form as it relates to helping your clients or staff meet the standard you selected, and how it would improve the preparation of financial statements and/or footnotes to minimize the risk of material misstatement. Upload a copy of your Excel file with at least 5 entries for others to view and comment. Be sure to note the specific FASB standard you used so others can find it easily in the FASB Codification System (ex. ASC 908-330-25-1).
As part of your response, test the form presented by another student and discuss, if you think it provides the detail needed to meet the standard or some data could be added or eliminated.
I hope I can get this same writer to complete the rough draft and final powerpoint as soon as the teacher posts her instructions. This part was great! Thank you so much.
James Raphael
This is exactly what I needed and the confidence that I am heading in the right direction to finish the assignment. Thank you so much.
Idalia Michael
