[Full Course Solution] BUS 607 Business Law for the Accountant,

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BUS607 Assignments Week 1 - Assignment, BUS607 Assignments Week 2 - Assignment, BUS607 Assignments Week 3 - Assignment, BUS607 Assignments Week 4 - Assignment, BUS607 Assignments Week 5 - Assignment, BUS607 Assignments Week 6 - Final Paper,

Week 1 – Assignment

o Due Aug 8 by 11:59pm

o Points 8

o Submitting an external tool

Business Entity Comparison

Using the information from this week’s readings explain the legal and financial characteristics of each of the five main form of business entities described. Discuss the implications of applicable laws and regulations, for each type of business entity, on how the business is organized, governed, and operated. For each type of business entity, explain the following characteristics

 Formation

 Termination

 Ownership type

 Owner liability

 Taxation

 Advantages

 Disadvantages

The paper:

 Must be two to four double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Writing Center (Links to an external site.)

 Must include a separate title page with the following:

o Title of paper

o Student’s name

o Course name and number

o Instructor’s name

o Date submitted

 Must use at least two scholarly sources in addition to the course text.

 Must cite all sources in APA style as outlined in the Writing Center.

 Must include a separate references page that is formatted according to APA style as outlined in the Writing Center.

Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.

BUS607 Assignments Week 2 – Assignment

Violations of Securities Laws

Karel Svoboda, a credit officer for Rogue Bank, evaluated and approved his employer’s extensions of credit to clients. These responsibilities gave Svoboda access to nonpublic information about the clients’ earnings, performance, acquisitions, and business plans from confidential memos, email, and other sources. Svoboda devised a scheme with Alena Robles, an independent accountant, to use this information to trade securities. Pursuant to their scheme, Robles traded in the securities of more than twenty different companies and profited by more than $2 million. Svoboda also executed trades for his own profit of more than $800,000, despite their agreement that Robles would do all the trading. Aware that their scheme violated Rogue Bank’s policy, they attempted to conduct their trades to avoid suspicion. When the bank questioned Svoboda about his actions, he lied, refused to cooperate, and was fired. Using this information, address the following:

 Explain what crimes Svoboda and Robles each committed.

 Analyze the civil liability for Svoboda and Robles including who could file suit and on what grounds.

 Explain any defenses that Svoboda and Robles could raise and the likely success of the defense.

The paper

 Must be four to six double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Writing Center (Links to an external site.)

 Must include a separate title page with the following:

o Title of paper

o Student’s name

o Course name and number

o Instructor’s name

o Date submitted

 Must use at least two scholarly sources in addition to the course text.

 Must cite all sources in APA style as outlined in the Writing Center.

 Must include a separate references page that is formatted according to APA style as outlined in the Writing Center.

Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.

BUS607 Assignments Week 3 – Assignment

Week 3 – Assignment

o Due Aug 22 by 11:59pm

o Points 8

o Submitting an external tool

Prepare a Sales Contract

Your client, Widgets, Inc., has a factory in Detroit where they produce widgets for sale. They have recently received a large order from Machines, Inc. in Austin, Texas for 2,000 widgets at $100 per widget. The client has not specified any additional terms of the purchase.

Prepare a contract for the sale of these goods that will be in your client’s favor on each of the areas that Machines, Inc. failed to specify. Please make sure that your contract addresses the following:

 Shipment arrangement (method)

 Risk of loss

 Delivery (place and method)

 Transfer of title

 Warranties (express and implied)

The paper

 Must be three to six double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Writing Center (Links to an external site.)

 Must include a separate title page with the following:

o Title of paper

o Student’s name

o Course name and number

o Instructor’s name

o Date submitted

 Must use at least two scholarly sources in addition to the course text.

 Must cite all sources in APA style as outlined in the Writing Center.

 Must include a separate references page that is formatted according to APA style as outlined in the Writing Center.

Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.

BUS607 Assignments Week 4 – Assignment

Week 4 – Assignment

o Due Aug 29 by 11:59pm

o Points 8

o Submitting an external tool

Ethical Consideration of Creditors’ Rights and Bankruptcy

Address the following ethical questions regarding creditors’ rights and bankruptcy:

 Evaluate how Bankruptcy law can favor debtors at the expense of creditors or vice versa, and explain how a revision to Bankruptcy law can achieve a better balance between the respective interests of creditors and debtors.

 Explain whether the creditor self-help provision of the UCC’s Article 9 is ethical, and explain why.

 Analyze whether is it ethical or not to avoid paying one’s debts by going into bankruptcy.

 Explain the negative consequences to a debtor whose debts are discharged in bankruptcy and if debtors are better off as a result of having their debts discharged.

 Interpret the duty that accountants have to their clients with regard to incurring debt and dealing with creditors.

The paper

 Must be five to seven double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.)

 Must include a separate title page with the following:

o Title of paper

o Student’s name

o Course name and number

o Instructor’s name

o Date submitted

 Must use at least two scholarly sources in addition to the course text.

 Must cite all sources in APA style as outlined in the Ashford Writing Center.

 Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center.

BUS607 Assignments Week 5 – Assignment

Week 5 – Assignment

o Due Sep 5 by 11:59pm

o Points 8

o Submitting an external tool

State Consumer Protection

Most states have enacted their own consumer protection laws. These laws vary tremendously from state to state. Identify a consumer protection law in your state and address the following:

 Analyze the law, its purpose, and what it is aimed to accomplish;

 Describe the industry that the law affects and what types of businesses are affected;

 Explain the changes and/or policies that an affected business would have to implement in order to comply with the law or portion the law;

 Assess whether the law is effective in accomplishing its objective.

The paper

 Must be four to six double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Writing Center (Links to an external site.)

 Must include a separate title page with the following:

o Title of paper

o Student’s name

o Course name and number

o Instructor’s name

o Date submitted

 Must use at least two scholarly sources in addition to the course text.

 Must document all sources in APA style as outlined in the Writing Center.

 Must include a separate references page that is formatted according to APA style as outlined in the Writing Center.

Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.

BUS607 Assignments Week 6 – Final Paper

Week 6 – Final Paper

o Due Monday by 11:59pm

o Points 35

o Submitting an external tool

Final Paper

You are a new associate at a CPA firm. Your boss has explained that a new client has come to the firm with a small but growing company that makes a granite cleaning product which is sold in several major retail stores. The client has been operating as a sole proprietorship, but now thinks that because of the growth of the company a different business entity might be advantageous. The client has also informed you that they have recently encountered a problem with their distributor. When the product arrived at the distributor’s location, the distributor rejected the product, saying that they have received complaints from consumers that the spray bottles did not work correctly. The distributor further stated that the bottles sprayed the product in a dangerous way that caused injury to several consumers.

Your boss has asked you to prepare a memorandum that you will present to your boss and the client that addresses the following:

 Recommend a new business entity to form the business and explains the advantages of the new entity;

 Outline the client on his or her new duties and liabilities as an owner/officer/ member of the new entity in regards with the newly selected entity;

 Discuss contract issues: Performance and breach of contract, remedies, risk of loss, and non-conforming goods in regards to your client’s relationship with their distributor;

 Analyze the potential liability to consumers, under relevant laws and case law in regards to the production and distribution of the granite cleaner in a spray bottle.

 Must be 10 to 15 double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Writing Center (Links to an external site.)

 Must include a separate title page with the following:

o Title of paper

o Student’s name

The paper

o Course name and number

o Instructor’s name

o Date submitted

 Must use at least four scholarly sources in addition to the course text.

 Must document all sources in APA style as outlined in the Writing Center.

 Must include a separate references page that is formatted according to APA style as outlined in the Writing Center.

Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.

Week 1 – Discussion 1

This is a graded discussion: 2 points possible due Aug 4

Week 1 – Discussion 1

7 7 unread replies. 17 17 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

LLC and Fiduciary Duty

Green Properties Group owns, manages, and develops real property. Jones Group, Inc. also develops real property. Green entered into agreements with Jones concerning a large tract of property in Georgia. The parties formed NewGroup, LLC, to develop various parcels of the tract for residential purposes. The operating agreement of NewGroup indicated that “no Member shall be accountable to the LLC or to any other Member with respect to any other business or activity even if the business activity competes with the LLC’s business.” Later, when Green contracted with other parties to develop parcels within the tract in competition with NewGroup, LLC, Jones sued, alleging breach of fiduciary duty. Please address the following:

 Outline the fiduciary duties that the members of an LLC owe to each other.

 Can the terms of the NewGroup, LLC operating agreement alter these fiduciary duties? Explain why or why not.

 In whose favor should the court rule in the above scenario? Why?

Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

Week 1 – Discussion 2

4 4 unread replies. 17 17 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Personal Liability

Johnson Trucking, Inc., owned by Pat Johnson, charged its fuel purchases to an account at Juice Express. When Johnson Trucking, Inc. was not paid on several jobs, it was unable to pay amounts owed to Juice. Shortly thereafter, Johnson Trucking, Inc. ceased doing business and was dissolved. However, Pat continued to provide trucking services as a sole proprietor. Juice sued Pat Johnson for the unpaid amount – about $35,000. Pat argued that he was not personally liable for corporate debt. What are the factors the court will consider in deciding whether or not to pierce the corporate veil? Should the court pierce the corporate veil? Why or why not? Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

Week 2 – Discussion 1

6 6 unread replies. 16 16 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Duties Owed

Explain the requirements of the Duty of Care, the Duty of Loyalty, and the Business Judgment rule. Who or what are these duties designed to protect? Are these duties necessary? Why or why not? Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

Week 2 – Discussion 2

6 6 unread replies. 15 15 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Methods of Acquisition

A longtime friend and client approaches you and explains that he has the opportunity to purchase a company that has developed a very lucrative technology. Unfortunately, the company has had some legal issues with clients and vendors in the past. Your friend assures you that, going forward, he can resolve the problems that have led to the legal issues, but he does not want to be held liable for the company’s past failings. Your friend asks you to give your opinion on whether he should purchase the stock of the company or purchase only the assets. Which method of acquisition would you recommend and why? Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

Week 3 – Discussion 1

8 8 unread replies. 19 19 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Breach of Contract?

Utility Systems of America, Inc. was doing roadwork when Chad DeRosier, a nearby landowner, asked Utility to dump 1,500 cubic yards of fill onto his property. Utility agreed but exceeded DeRosier’s request by dumping 6,500 cubic yards. Utility offered to remove the extra fill for $9,500. DeRosier paid a different contractor $46,629 to remove the extra fill and do certain other work. He then filed a suit against Utility. Discuss the following:

 Because Utility charged nothing for the fill, was there a breach of contract?

 If so, would the damages be greater than $9,500?

 Could consequential damages be justified?

Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

Week 3 – Discussion 2

4 4 unread replies. 14 14 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Sale of Goods

Discuss two of the following items in your initial post:

 What is the CISG? Identify the major areas of difference between the UCC and the CISG. What remedies does the CISG provide for breach of contract?

 Explain the following terms in the context of preparing an international sales contract: choice-of-language, forum selection, and choice-of-law.

 Define the following terms: fungible goods, shipment contract, destination contract, risk of loss, void title, voidable title, and insurable interest.

 Explain the difference between express and implied warranties. What is the implied warranty of merchantability and the implied warranty of fitness for a particular purpose?

Respond to at least two of your classmates’ posts.

Search entries or author

Week 4 – Discussion 1

8 8 unread replies. 19 19 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Negotiability

Discuss two of the following items in your initial post:

 Provide an example of a “negotiable instrument,” with specific details, and explain why this instrument meets the requirements of negotiability. Additionally, how would changing one detail of the instrument make it non-negotiable?

 Does having a smartphone-based payment system entail more or fewer security risks than carrying a traditional wallet, and why?

 Can bitcoin be the currency used in a negotiable instrument? Why or why not? Please refer to Forbes article “Business Bitcoin Legitimacy, Potential Regulation (Links to an external site.)”.

 Explain three factors that the UCC has established that do not affect negotiability and explain the policy as to why these factors do not affect negotiability.

Respond to at least two of your classmates’ posts.

Week 4 – Discussion 2

7 7 unread replies. 17 17 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Bankruptcy

Discuss two of the following items in your initial post:

 How is a security interest created and how is it perfected? Provide an example. If you are the creditor, what is difference between having a perfected security interest and an unperfected interest? What is a “reorganization” bankruptcy and how is it different than an “ordinary” bankruptcy? Give examples of each.

 In a bankruptcy, what rights do secured creditors have over unsecured creditors, and why?

 Should federal law be changed that would allow students/former students to discharge their student loans in bankruptcy? Why or why not?

Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

Week 5 – Discussion 1

6 6 unread replies. 15 15 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Administrative Agencies

Discuss two of the following items in your initial post:

 Discuss the Administrative Procedures Act. What are the factors that make an agency rule arbitrary and capricious? What happens to a rule that is deemed arbitrary and capricious?

 Explain the relationship between administrative agency investigation of violations and the Fourth Amendment of the U.S. Constitution.

 Describe and discuss the laws Congress has passed to make agencies more accountable to the public, including the Freedom of Information Act, the Government in Sunshine Act, the Regulatory Flexibility Act, and the Small Business Regulatory Enforcement Fairness Act.

 Identify five federal, state, or local agencies that you may encounter in the field of accounting. Identify whether each agency is an executive agency or an independent agency. Discuss the area of law that each agency administers and why it is important to be familiar with the operations of that agency.

Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

Week 5 – Discussion 2

6 6 unread replies. 15 15 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Consumer, Environmental, and Antitrust Law

Discuss two of the following items in your initial post:

 Provide an example, with details, of deceptive advertising and explain why this example is deceptive. Additionally, provide an example of advertising that appears to be unreasonable or unethical but in fact is not considered deceptive.

 How has food and product labeling affected the health and safety of the American consumer? Provide an example of labeling and its impact on the American consumer.

 Environmental laws are often found at odds with the interests of business. From that perspective, describe the role of the Environmental Protection Agency. Is it meant to protect the environment at the exclusion of the interests of business, or does the EPA need to take into consideration its impact on businesses before regulating? Provide a federal environmental law that supports your stance and explain how it supports your assertion(s).

 Are federal antitrust laws designed to protect the consumer, the overall economy, or both? Provide an example of a federal antitrust law that supports your stance and explain how it supports your assertion(s).

Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

Week 6 – Discussion 1

No unread replies. 9 9 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Professional Responsiblity

Discuss two of the following items:

 Discuss the importance of becoming familiar with the various ways an accountant can be held liable. What are the common principles to all of the forms of liability? How do you anticipate being able to navigate a successful career without incurring liability? Under what circumstances do you feel accountants are more likely to incur liability and how would you suggest avoiding those situations?

 Explain the difference between the attorney-client privilege and the accountant-client privilege. Why is this an important distinction? Why do you think that the law doesn’t provide the same level of privilege for accountants as it does for attorneys?

 In 2008, the SEC approved a plan to replace GAAP and GAAS with IFRS. Explain the general differences in these standards. Why do you thing the SEC is not using IFRS. Do you think this is a good change or a bad change? Why?

Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

Week 6 – Discussion 2

No unread replies. 9 9 replies.

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

Property Rights

Discuss two of the following items:

 Explain the difference between real property and personal property. Why is the distinction important? What is a fixture? Is it real or personal property? Explain.

 What is a bailment? How is a bailment different than a secured interest? Provide an example of each to explain the difference.

 Define the various types of real property concurrent ownership including tenancy in common, joint tenancy, tenancy by the entirety, and community property. Provide an example of each and explain how they are each different.

 What are the purposes of zoning laws? Provide three examples of zoning laws and explain how it affects the characteristics of the property affected and its value.

Use this week’s lecture as a basis for your post. Respond to at least two of your classmates’ posts.

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