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ACC 422 EXPERT EDUCATION EXPERT / acc422expert.com

ACC 422 Entire Course <br> <br>FOR MORE CLASSES VISIT <br>www.acc422expert.com <br>ACC 422 Week 1 DQ 1<br><br>ACC 422 Week 1 DQ 2<br><br>ACC 422 Week 1 DQ 3<br><br>ACC 422 Week 1 Individual Assignment Disclosure Analysis Paper<br>

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ACC 422 EXPERT EDUCATION EXPERT / acc422expert.com

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  1. ACC 422 EXPERT EDUCATION EXPERT / acc422expert.com FOR MORE CLASSES VISIT www.acc422expert.com

  2. ACC 422 Entire Course • ACC 422 Week 1 DQ 1 • ACC 422 Week 1 DQ 2 • ACC 422 Week 1 DQ 3 • ACC 422 Week 1 Individual Assignment Disclosure Analysis Paper • ACC 422 Week 1 Summary

  3. ACC 422 Final Exam Guide 1 • 1. Kraft Enterprises owns the following assets at December 31, 2012. Cash in bank–savings account 67,516 Checking account balance 26,445 Cash on hand 9,478 Postdated checks 753 Cash refund due from IRS 40,324 Certificates of deposit (180-day) 94,754 What amount should be reported as cash? Question 2 Presented below is information related to Rembrandt Inc.’s inventory. (per unit) Skis Boots Parkas Historical Cost 273.79 152.75 76.37 Selling Price 312.70 208.95 106.27 Cost to distribute 27.38 11.53 3.60 Current replacement cost 292.52 151.31 73.49 Normal profit margin 46.11 41.79 30.62 Determine the following: Question 3 Matlock Company uses a perpetual

  4. ACC 422 Final Exam Guide 2 • 1) Which of the following is NOT considered cash for financial reporting purposes?
2) What is the preferable presentation of accounts receivable from officers, employees, or affiliated companies on a balance sheet?
3) Which of the following is considered cash?
4) If a company employs the gross method of recording accounts receivable from customers, then sales discounts taken should be reported as5) Assuming that the ideal measure of short-term receivables in the balance sheet is the discounted value of the cash to be received in the future, failure to follow this practice usually does NOT make the balance sheet misleading because6) Which of the following methods of determining annual bad debt expense best achieves the matching concept?7) The accountant for the Orion Sales Company is preparing the income statement for 2007 and the balance sheet at December 31, 2007. Orion uses the periodic inventory system. The January 1, 2007 merchandise inventory balance will appear8) Eller Co. received merchandise on consignment. As of January 31, Eller included the goods in inventory, but did NOT record the transaction. The effect of this on its financial statements for January 31 would be9. If the

  5. ACC 422 Week 1 DQ 1 • Consider how an organization must manage cash, receivables, and inventory. Which of the three variables is the most important to manage? Is one more susceptible to fraud and errors than the others? Explain your answer. • How would a misstatement in each affect the organization?

  6. ACC 422 Week 1 DQ 2 • What is the perpetual method of tracking inventory? • How does it differ from the periodic method of tracking inventory? • Why would a company choose one method over the other method? • Which is the best method? Why?

  7. ACC 422 Week 1 DQ 3 • What are the different ways to estimate bad debt? • How does this affect net income? • What does Generally Accepted Accounting Principles (GAAP) require? Why? • Should all companies have bad debt? Explain your answer.

  8. ACC 422 Week 1 Individual Assignment Disclosure Analysis Paper • Resource: Internet • Select a publicly held company to use as the basis for this assignment. • Research your selected company and acquire the company’s most recent financial statements using the Internet.

  9. ACC 422 Week 1 Summary • Post a 150 words summary what you have learned this week

  10. ACC 422 Week 2 DQ 1 • Under what circumstances would a company need to estimate its inventory? • What are the differences between using the gross profit method and retail inventory method for estimating inventory? • Which method of estimation, gross profit or retail inventory, is best? Explain your answer.

  11. ACC 422 Week 2 DQ 2 • What are the criteria for capitalization of fixed assets? • What items are included in the cost of a fixed asset? • Should interest be included in the cost of a fixed asset? Explain why or why not.

  12. ACC 422 Week 2 DQ 3 • How do we account for the disposition of fixed assets? • What are the differences in how the exchanges of assets are handled, pending on whether they are similar or dissimilar? • What is the rationale for these differences? • What is the impact to the companies’ financial statements?

  13. ACC 422 Week 2 Individual Assignment E7-2, E7-8,Q13,E8-5 And E8-14 • Resource:Intermediate Accounting • Prepare written responses to the following assignments from the text: • · Ch. 7: Exercises E7-2 & E7-8 • Ch. 8: Question 13 and Exercises E8-5 & E8-14

  14. ACC 422 Week 2 Learning Team Assignment From The Text P7-10 And E8-25 • Resource:Intermediate Accounting • Prepare written responses to the following assignments from the text: • · Ch. 7: Problem P7-10 • Ch. 8: Exercise E8-25

  15. ACC 422 Week 2 Summary • Post a 150 words summary what you have learned this week

  16. ACC 422 Week 3 DQ 1 • What is the purpose of depreciation? • Does the book value of a fixed asset (cost minus accumulated depreciation) communicate to a user what the asset is worth? Explain why or why not. • Should the financial statements reflect the value of fixed assets? Explain why or why not.

  17. ACC 422 Week 3 DQ 2 • What are the different methods used to calculate depreciation? • How does a company decide which method it should utilize? • How does its choice affect the financial statements?

  18. ACC 422 Week 3 DQ 3 • What is an intangible asset? • Should all intangible assets be subject to amortization? Explain why or why not. • Why are some intangible assets not amortized? • What is the implication to the financial statements?

  19. ACC 422 Week 3 Individual Assignment From the Text E9-1,E9-12,E9-19,E10-5 And E10-12 • Resource:Intermediate Accounting • Prepare written responses to the following assignments from the text: • · Ch. 9: Exorcices E9-1, E9-12, & E9-19 • Ch. 10: Exercises E10-5 & E10-12

  20. ACC 422 Week 3 Learning Team Assignment From The Text P9-9 And P10-8 • Resource:Intermediate Accounting • Prepare written responses to the following assignments from the text: • · Ch. 9: Problem P9-9 • Ch. 10: Problem P10-8

  21. ACC 422 Week 3 Summary • Post a 150 words summary what you have learned this week

  22. ACC 422 Week 4 DQ 1 • What are the criteria for classifying an item as a current liability? • What are some examples of current liabilities? • Why is it important to classify a portion of long-term debt on a yearly basis as a current liability? • What is the implication of misclassifying a liability as current or long-term?

  23. ACC 422 Week 4 DQ 2 • What is a contingency? • Why are contingencies important to users of financial statements? • What are the criteria for recording contingencies?

  24. ACC 422 Week 4 DQ 3 • What is a bond? What are some features of a bond? How do you value bonds? What factors can affect that value?

  25. ACC 422 Week 4 Individual Assignment From The Text E11-4,E11-11,E12-6 And E12-16 • Resource:Intermediate Accounting • Prepare written responses to the following assignments from the text: • · Ch. 11: Exercises E11-4 & E11-11 • · Ch. 12: Exercises E12-6 & E12-16

  26. ACC 422 Week 4 Learning Team Assignment From The Text E11-18,P11-10 And P12-3 • Resource:Intermediate Accounting • Prepare written responses to the following assignments from the text: • · Ch. 11: Exercise E11-18 & Problem P11-10 • Ch. 12: Problem P12-3

  27. ACC 422 Week 5 DQ 1 • What are the differences between a direct-financing and a sales-type lease for a lessor? • Why would a lessor provide direct-financing to a lessee? • What types of organizations provide direct-financing leases?

  28. ACC 422 Week 5 DQ 2 • What are the criteria for classifying a lease as operating or capital? • Why is there a difference between the two? • What are the implications of an operating lease versus a capital lease on an entity’s financial statements?

  29. ACC 422 Week 5 DQ 3 • What is residual value? • What is the implication to the lessee if the residual value is guaranteed or unguaranteed? • What is the implication to the lessor?

  30. ACC 422 Week 5 Individual Assignment From The Text E13-1,E13-7,E13-11 And E13-13 • Resource:Intermediate Accounting • Prepare written responses to the following assignments listed at the end of each chapter: • • Ch. 13: Exorcices E13-1, E13-7, E13-11, & E13-13 • • Ch. 21: Question 3

  31. ACC 422 Week 5 Learning Team Assignment From The Text P13-4,E14-21 And E21-7 • Resource:Intermediate Accounting • Prepare written responses to the following assignments from the text: • · Ch. 13: Problem P13-4 • · Ch. 14: Exercise E14-21 • Ch. 21: Exercise E21-7

  32. ACC 422 Week 5 Learning Team Problem Presentation • Collaborate as a team to provide written responses to a facilitator-assigned problem. • Prepare a 5- to 10-minute oral presentation accompanied by a 7- to 9-slide Microsoft® PowerPoint® presentation illustrating your team’s solution to the assigned problem.

  33. ACC 422 EXPERT EDUCATION EXPERT / acc422expert.com FOR MORE CLASSES VISIT www.acc422expert.com

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