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ACC 422 EXPERT EDUCATION E

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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

ACC 422 Final Exam Guide 1



1. Kraft Enterprises owns the following assets at Decem
ber 31, 2012. Cash in banksavings account 67,516 Chec
king account balance 26,445 Cash on hand 9,478 Postda
ted checks 753 Cash refund due from IRS 40,324 Certific
ates of deposit (180-day) 94,754 What amount should b
e reported as cash? Question 2 Presented below is infor
mation related to Rembrandt Inc.s inventory. (per unit)
Skis
Boots
Pa
rkas Historical Cost
273.79
1
52.75
76.37 Selling Price
3
12.70
208.95
106.27 Cost to distribute
27.38
11.53
3.60 Current

ACC 422 Final Exam Guide 2



1) Which of the following is NOT considered cash for fi
nancial reporting purposes?2) What is the preferable pr
esentation of accounts receivable from officers, employ
ees, or affiliated companies on a balance sheet?3) Whic
h of the following is considered cash?4) If a company e
mploys the gross method of recording accounts receiva
ble from customers, then sales discounts taken should
be reported as5) Assuming that the ideal measure of sh
ort-term receivables in the balance sheet is the discount
ed value of the cash to be received in the future, failure
to follow this practice usually does NOT make the balan
ce sheet misleading because6) Which of the following m

ACC 422 Week 1 DQ 1


Consider how an organization must manage cash, recei
vables, and inventory. Which of the three variables is th
e most important to manage? Is one more susceptible t
o fraud and errors than the others? Explain your answer
.

How would a misstatement in each affect the organizati
on?

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 oth
er method?

Which is the best method? Why?

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 (G


AAP) require? Why?

Should all companies have bad debt? Explain your answ
er.

ACC 422 Week 1 Individual A


ssignment Disclosure Analysi
s Paper

Resource: Internet

Select a publicly held company to use as the basis for th


is assignment.


Research your selected company and acquire the comp
anys most recent financial statements using the Interne
t.

ACC 422 Week 1 Summary


Post a 150 words summary what you have learned this
week

ACC 422 Week 2 DQ 1


Under what circumstances would a company need to es
timate its inventory?

What are the differences between using the gross profit
method and retail inventory method for estimating inve
ntory?

Which method of estimation, gross profit or retail inven
tory, is best? Explain your answer.

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.

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 dis
similar?

What is the rationale for these differences?

What is the impact to the companies financial statemen
ts?

ACC 422 Week 2 Individual A


ssignment E7-2, E7-8,Q13,E85 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

ACC 422 Week 2 Learning Tea


m 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

ACC 422 Week 2 Summary


Post a 150 words summary what you have learned this
week

ACC 422 Week 3 DQ 1


What is the purpose of depreciation?

Does the book value of a fixed asset (cost minus accum
ulated depreciation) communicate to a user what the as
set is worth? Explain why or why not.

Should the financial statements reflect the value of fixe
d assets? Explain why or why not.

ACC 422 Week 3 DQ 2


What are the different methods used to calculate depre
ciation?

How does a company decide which method it should uti
lize?

How does its choice affect the financial statements?

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?

ACC 422 Week 3 Individual A


ssignment From the Text E91,E9-12,E9-19,E10-5 And E1012
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

ACC 422 Week 3 Learning Tea


m 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

ACC 422 Week 3 Summary


Post a 150 words summary what you have learned this
week

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 de
bt on a yearly basis as a current liability?

What is the implication of misclassifying a liability as cur
rent or long-term?

ACC 422 Week 4 DQ 2


What is a contingency?

Why are contingencies important to users of financial st
atements?

What are the criteria for recording contingencies?

ACC 422 Week 4 DQ 3


What is a bond? What are some features of a bond? Ho
w do you value bonds? What factors can affect that valu
e?

ACC 422 Week 4 Individual A


ssignment From The Text E1
1-4,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

ACC 422 Week 4 Learning Tea


m 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

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 lea
ses?

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 entitys financial statements?

ACC 422 Week 5 DQ 3


What is residual value?

What is the implication to the lessee if the residual valu
e is guaranteed or unguaranteed?

What is the implication to the lessor?

ACC 422 Week 5 Individual A


ssignment From The Text E1
3-1,E13-7,E13-11
And
E13-13
Resource:Intermediate Accounting
Prepare written responses to the following assig
nments listed at the end of each chapter:

Ch. 13: Exorcices E13-1, E13-7, E13-11, & E13-1


3
Ch. 21: Question 3

ACC 422 Week 5 Learning Tea


m 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

ACC 422 Week 5 Learning Tea


m Problem Presentation
Collaborate as a team to provide written responses to a
facilitator-assigned problem.

Prepare a 5- to 10-minute oral presentation accompanie
d by a 7- to 9-slide Microsoft PowerPoint presentati
on illustrating your teams solution to the assigned prob
lem.

ACC 422 EXPERT EDUCATION E


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