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Net Income Assignment | Top Universities

You are the Chief Accountant at a company and the CEO has asked you to explain why net income is decreasing despite sales increasing. You should prepare a chart from the information provided and write a short memo (five sentences) explaining what your chart shows, how it could be a possible explanation, and what further analysis you would recommend.   (Note this is not necessarily fraud related)

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Create a new worksheet

  • Open up Excel and create a blank workbook and save it
  • From blackboard (Extra credit) open the part II spreadsheet
  • Copy and paste the data into the new spreadsheet that you have just created. Remember to put your name on the spreadsheet

Create a chart

Create a chart that compares the net income, wages and overtime from 2005 to 2016. Ensure that the chart has a title, axis labels, and a legend showing the series labels for net income, and wages and overtime. The y axis should be labeled USD, the x axis year.

Create a word document

Create a memo in the following format

MEMORANDUM

To:

From:

Date:

Subject: Sales increases and Net Income decreases

In response to your request for an explanation for the decrease in net income when overall sales are increasing, please find below chart showing trends in net income, wages and overtime. (use this sentence)

(Insert your chart by copying and pasting your chart from excel. Note that there are several paste options that will make your chart behave in different ways)

(After the chart, write a further 5 sentences providing your explanation of possible causes, further analysis required and recommended actions)

____________________________________________________________________________________________________________________________

Year Ending Net Income Wages Overtime Sales
$ $ $ $
2005 50,000 60,000 0 1,000,000
2006 60,000 65,000 0 1,050,000
2007 70,000 70,000 0 1,100,000
2008 80,000 75,000 0 1,150,000
2009 90,000 80,000 0 1,200,000
2010 100,000 85,000 0 1,250,000
2011 100,000 85,000 5,000 1,300,000
2012 98,000 85,000 10,000 1,350,000
2013 95,000 85,000 15,000 1,400,000
2014 92,000 85,000 20,000 1,450,000
2015 89,000 85,000 25,000 1,500,000
2016 85,000 85,000 30,000 1,550,000

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