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ACC 422 Entire Course

ACC 422 Final Exam Guide 1

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 Week 2 DQ 1

ACC 422 Week 2 DQ 2

ACC 422 Week 2 DQ 3

1. Kraft Enterprises owns the

following assets at December
31, 2012. Cash in banksavings
account
67,516Checking
account balance 26,445 Cash
on hand
9,478 Postdated
checks
753 Cash refund due
from IRS 40,324Certificates
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)

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ACC 422 Week 1 DQ 1

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

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?

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ACC 422 Week 1 DQ 2

ACC 422 Week 1 DQ 3

What is the perpetual

method of tracking
inventory?

What are the different

ways to estimate bad
debt?

How does it differ from the

periodic method of
tracking inventory?

How does this affect net

income?

What does Generally

Accepted Accounting
Principles (GAAP) require?
Why?

Should all companies have

bad debt? Explain your
answer.

Why would a company

choose one method over
the other method?

Which is the best method?

Why?

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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
companys most recent
financial statements using the
Internet.

Prepare a 700- to 1,050-word

paper analyzing the
disclosures contained within
the notes to the financial
statements

ACC 422 Week 1 Summary

Post a 150 words

summary what you have
learned this week

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ACC 422 Week 2 DQ 1

ACC 422 Week 2 DQ 2

Under what circumstances

would a company need to
estimate its inventory?

What are the criteria for

capitalization of fixed
assets?

What are the differences

between using the gross
profit method and retail
inventory method for
estimating inventory?

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.

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

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ACC 422 Week 2 DQ 3

ACC 422 Week 2 Individual Assignment

E7-2, E7-8,Q13,E8-5 And E8-14

How do we account for the

disposition of fixed assets?

Resource: Intermediate
Accounting

What are the differences

in how the exchanges of
assets are handled,
pending on whether they
are similar or dissimilar?

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

What is the rationale for

these differences?
What is the impact to the
companies financial
statements?

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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

ACC 422 Week 2 Summary

Post a 150 words

summary what you have
learned this week

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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.

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?

Should companies
standardize the method of
depreciation to enhance
comparability? Explain your
answer.

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ACC 422 Week 3 DQ 3

ACC 422 Week 3 Individual Assignment

From the Text E9-1,E9-12,E9-19,E10-5 And
E10-12

What is an intangible
asset?

Resource: Intermediate
Accounting

Should all intangible

assets be subject to
amortization? Explain why
or why not.

Prepare written
responses to the following
assignments from the
text:

Why are some intangible

assets not amortized?

Ch. 9: Exercises E91, E9-12, & E9-19

What is the implication to

the financial statements?

Ch. 10: Exercises

E10-5 & E10-12

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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

ACC 422 Week 3 Summary

Post a 150 words

summary what you have
learned this week

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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 longterm debt on a yearly
basis as a current liability?
What is the implication of
misclassifying a liability as
current or long-term?

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?

Should companies record

a liability for threatened
litigation? Explain why or
why not.

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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?

ACC 422 Week 4 Individual Assignment

From The Text E11-4,E11-11,E12-6 And E1216

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

Prepare a response to the

following questions:

What are at least four

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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:

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?

Ch. 11: Exercise

E11-18 & Problem P11-10
Ch. 12: Problem

P12-3

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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
value is guaranteed or
unguaranteed?

What is the implication to

the lessor?

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ACC 422 Week 5 DQ 4

ACC 422 Week 5 Individual Assignment

From The Text E13-1,E13-7,E13-11 And E1313

Week 5 DQ 4

What are the advantages

of operating and capital
leases? What are the
disadvantages?

Resource: Intermediate
Accounting

Prepare written responses

to the following
assignments listed at the
end of each chapter:

Ch. 13: Exercises E13-1,

E13-7, E13-11, & E13-13

Ch. 21: Question 3

Why would a company

pick one over the other?

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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

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 9slide Microsoft
PowerPoint presentation
illustrating your teams
solution to the assigned
problem.

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