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1. BUS 591
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BUS 591 ENTIRE COURSE *FINANCIAL ACCOUNTING
& ANALYSIS*
BUS 591
Generally Accepted Accounting Principles (G.A.A.P.).Briefly discuss Generally Accepted Accounting
Principles or G.A.A.P.What are they?What is their purpose? Name the U.S.and internationalstandard-setting
bodies that establishedthese principles.Are all companies required tofollow these principles? Why or why not?
Your answer should illustrate understanding of generally accepted accounting principles and their international
counterpart.Respond toat least twoof y our classmates’ posts.
Annual Reports.Visit thewebsitefor Tootsie Roll (www.tootsie.com). Clickon “Company Information” then
“FinancialInformation”.Open the latest annual report and review it tofind the answers tothe following questions:
§ What areTootsie Roll’s corporate principles? Doy ou agreewith these principles,or doy ou feel thereare additional
principles that should be included?
What was the total amount of Tootsie Roll’s assets for the most current year available?
§ What was the total amount of Tootsie Roll’s liabilities for themost current year available?
§ What is the amount of the differencebetween TootsieRoll’s assets andliabilities? What is this difference called?

2. Based on y our initial findings at the Tootsie Roll website,would you consider investing in them?Why or why not?
Your answer should illustrate criticalthought and understanding of the annual report and financial statements.
Respond toat least twoof y our classmates’ posts.
Week One Homework Problems. Complete the following Workbook TemplateWeek One or you may complete
the Problem 1-3B on page 36,1-4B on page 37 (Chapter 1)and Problem 2-7B on page90(Chapter 2)of y our text.
Submit your worktoy our instructor by the posted due date. Show allyour workin order toearn fullcredit
Debits and Credits.Definedebits andcredits and explain how they are used torecord business transactions.Is it
true that debits always increase and credits always decrease? Why or why not?
Respond toat least twoof y our classmates’ posts.
Revenue& Expense.Review the section called “Investor Insight” in Chapter 3 of y our text which shows the major
rev enue and expense accounts of the ChicagoCubs baseballteam.Considering the huge increase in professional
baseballplayers’ salaries in the last decade,what doy ou think has happened tototal expenses an dnet income of
professional baseballteams? If net income has not decreased, what has been done tooffset the higher salaries?
Should fans be expected topay higher prices for ‘America’s national pastime’tohelp offset the costs of higher
salaries? Respond toat least twoof y our classmates’ posts
Week Two Homework Problems. Complete Workbook Template WeekTwoor y ou may find the problems 3-2B
on page 1 50and 3-5B on page151 from Chapter 3 of y our text.Alsocomplete problems E4 -13, E4-14,E4-15, E4-16,
E4-17, andE4-18 from Chapter 4.Submit your worktoyour instructor by the posted duedate.Show allyour work in
order toearn full credit.
Perpetual Inventory System.Present a detailed explanation of the recording of purchases under a perpetual
inv entory system.Use hypotheticalfigures toillustrate the perpetualinventory system.After presenting your
hy pothetical figures,discuss how a perpetualinventory system is different from a periodicinventory system.Your
answer should illustrate understanding of the perpetual inventory system.Respond toat least twoof y our classmates’
posts.
Inventory Valuation Methods. Identify thedifferences between F.I.F.O.,L.I.F.O.,and theaverage-cost methodof
inv entory valuation. Be sure toincludethe effects of each method oncost of goods soldandnet incomein your answer.
Alsodiscuss the differences between thephysical movement of goods and cost flow assumptions.Your answer should
illustrate understanding of the three major inventory valuation methods, and the relationshipbetween physical
inv entory flow andcost flow assumptions.Respond toat least twoof y our classmates’ posts.
Week Three Homework Problems.Complete the following Workbook Template WeekThree or you may
complete theproblems E5-2,E5-6 and P5-5B from Chapter 5 and Problems 6-2B and 6-3B Chapter 6. Submit your
work toy our instructor by the posted due date.Show all your work in order toearn full credit.
Why doI need accounting?Consider the following scenario: Your friend (whois alsoin school) just emailed you to
express frustration with his accounting class. In the email, he said,“Why doIneed totake accounting? What will I
ev er need toknow about reporting and analyzing long-lived assets? Iam a management major.” Write a 100-to250-
word response toy our friend,including specific details about the benefits of learning accounting.Focus particularly
on reporting and analyzing long-lived assets from a manager’s perspective.Discuss the benefit and purpose of
learning accounting as a business student.Respond toat least twoof y our classmates’ posts.

3. Sarbanes-Oxley Act of 2002.Search the Internet and locate an annualfinancialreport for a publicU.S. company.
Read the Notes tothe FinancialStatements todetermine the criteria for cash equivalents and how cash and cash
equivalents are handled. Discuss your findings.Find information about the internal control policy of the company
and summarize this policy in your post.Is it in compliance with SOX? What are some references toSOX mentioned in
the annualreport? Your answer should demonstrateunderstanding of the Sarbanes-Oxley Act,and be a minimum of
1 00 to200 words in length.Respond toat least twoof y our classmates’ posts.
Week Four Homework Problems. Complete the following Workbook TemplateWeek Four or y ou may complete
the problems P8-2B and P8-6B from Chapter 8 and Problems 9P-2B and P9-7B from Chapter 9. Submit your
assignment tothe instructor by the posted due date.Show all your worktoearn fullcredit.
Liabilities and Financial Analysis. Discuss current liabilities and long-term liabilities. What are the differences
between the two? Illustrate your understanding of liabilities, making sure toidentify major types of current liabilities.
Respond toat least twoof y our classmates’ posts
Colgate’s Annual Report.Obtain a copy of Colgate’s annualreport from the Ashford Online Library or from a valid
academic sourcefound elsewhere on theInternet.Use this information toanswer the following questions.If
researching online,gotothe Colgate company website (http://www.colgate.com).Use the ratios discussed in Chapter
1 1 (dividend payout ratioandreturn on common stockholders’ equity) toevaluate Colgate’s dividend and earnings
performance from a stockholder’s perspective.Your answer should illustrate understanding of div idend ratios and
return on equity ratios, an analysis of financialstatements.Respond toat least twoof y our classmates’ posts.
Sarbanes-Oxley Act of 2002/Methods of Depreciation.Select one of the following topics for your research
paper:
Research and discuss the Sarbanes-Oxley Act of 2002.Identify key components of the Sarbanes-Oxley Act of 2002,
and its primary objective.What aresome of the criticisms surrounding the Act? Are there any economic consequences
for companies as a result of implementing the Act?Has the Sarbanes-Oxley Act achieved its goals sofar?
Explain the methods of depreciation. Explain the methods of depletion. How dodepletion and depreciation methods
differ? Compare and contrast the depreciation anddepletion methods. Use scholarly references (noWikipedia,
Answers.com,etc.)tosupport the points you make in your paper.
Indirect Method vs. Direct Method. Financial statement preparers havetwochoices in preparing the statement
of cash flows: the indirect method and the direct method. The indirect method is used extensively in practiceeven
though theF.A.S.B.has expressed a preference for the direct method. Discuss the similarities and differences between
the direct andindirect methods, and the advantages of using each method.
Your answer should illustrate understanding of the cash flow statement. A minimumof 1 00to200words is required
for y our answer.Respond toat least twoof y our classmates’ posts.
Horizontal vs. Vertical Analysis. Discuss the horizontaland verticalanalysis of a financial statement,and how
each is used tohelp financialstatement users make better decisions.Also, explain the liquidity,solvency,and
profitability ratios introduced throughout the text.Describe how the ratios are used in analyzing a firm’s liquidity,
solv ency, andprofitability. Your answer should illustrateunderstanding of financialstatement analysis, including
ratios. A minimumof 1 00to200words is required for your answer. Respond toat least twoof y our classmates’ posts.

4. FINAL PAPER
You should begin working on elements of the FinalProject in Week One.Each week,there is a recommended learning
activity associated with helping you complete the FinalProject.There areungraded and gradedpractice exercises,
which will allow you topractice applying accounting skills learned in class todifferent scenarios. Workthrough the
problems,starting with Chapter 1,following theinstructions in the textbook and Excel template.
Download and open the Excel file marked “BUS 591 Final Project Template”.Review theinstructions presented on
the Instructions Tab in the Workbook and theweekly recommended learning activity.If y ou complete each part as
recommended, you will have thecomplete FinalProject finished by WeekSix.Chapters 1 ,2 and 3 are ungraded
practice problems,while Chapters 4 and 13 aregraded problems.Take your time and complete all requirements.Also,
if y ou complete the practice problems from Chapter 3, completing the gradedportion from Chapter 4 will be much
easier.
Do not work ahead unless y ou read thecorresponding chapters. For example,readChapters 3 and4 before
completing the Continuing Cookie Chronicleproblem from those chapters.
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BUS 591 WEEK 1 HOMEWORK PROBLEMS
BUS 591 Week 1 Homework Problems
Complete the following Workbook TemplateWeek Oneor you may complete the Problem 1-3B on page36,1-4B on
page 37 (Chapter 1) and Problem 2-7B on page 90(Chapter 2)of y our text.Submit your work toyour instructor by the
posted due date. Show all your workin order toearn full credit?
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BUS 591 WEEK 1 QUIZ
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5. BUS 591 WEEK 2 HOMEWORK PROBLEMS
Week 2 Homework Problems
Complete problems 3-2B on page 150 and 3-5B on page 151 from Chapter3. Alsocomplete problems
E4-13, E4-14, E4-15, E4-16, E4-17, and E4-18 from Chapter4. Submit yourwork toyour instructor by
the posted due date. Showall yourwork in order toearn full credit!
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BUS 591 WEEK 2 QUIZ
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BUS 591 WEEK 3 HOMEWORK PROBLEMS
Week 3 HomeworkProblems
Complete problems E5-2,E5-6 andP5-5B from Chapter 5 and Problems 6-2B and 6-3B from Chapter 6.Submit your
work toy our instructor by the posted due date.Show all your work in order toearn full credit!
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BUS 591 WEEK 3 QUIZ
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BUS 591 WEEK 4 DQ 1 WHY DO I NEED ACCOUNTING
Week 4 - Discussion 1
Consider the following scenario:Your friend (whois alsoin school) just emailed you toexpress
frustration with his accounting class. In the email, he said, “Why doI need to take accounting? What
will Iever need toknow about reporting and analyzing long-lived assets?Iam a management
major.”
Write a 100-to250-word response toyour friend, including specificdetails about thebenefits of

6. learning accounting. Focus particularly on reporting and analyzing long-lived assets from a
manager’s perspective. Discuss the benefit and purpose of learning accounting as a business
student. Respond toat least twoof your classmates’ posts.
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BUS 591 WEEK 4 HOMEWORK PROBLEMS
Week 4 Homework Problems
Complete Problems P8-2B andP8-6B from Chapter 8 and Problems 9P-2B andP9-7B from Chapter 9.Submit your
assignment tothe instructor by the posted due date.Show all your worktoearn fullcredit!
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BUS 591 WEEK 4 QUIZ
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BUS 591 WEEK 6 FINAL PAPER
FINAL PAPER
You should begin working on elements of the FinalProject in Week One.Each week,there is a recommended learning
activity associated with helping you complete the FinalProject.There areungraded and gradedpractice exercises,
which will allow you topractice applying accounting skills learned in class todifferent scenarios. Workthrough the
problems,starting with Chapter 1,following theinstructions in the textbook and Excel template.
Download and open the Excel file marked “BUS 591 Final Project Template”.Review theinstructions presented on
the Instructions Tab in the Workbook and theweekly recommended learning activity.If y ou complete each part as
recommended, you will have thecomplete FinalProject finished by WeekSix.Chapters 1 ,2 and 3 are ungraded
practice problems,while Chapters 4 and 13 aregraded problems.Take your time and complete all requirements.Also,
if y ou complete the practice problems from Chapter 3, completing the gradedportion from Chapter 4 will be much
easier.
Do not work ahead unless y ou read thecorresponding chapters. For example,readChapters 3 and4 before
completing the Continuing Cookie Chronicleproblem from those chapters.
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