The document is a course syllabus for ACCT 304 (Intermediate Accounting I). It includes discussion topics and assignments for each of the 7 weeks in the course. The weekly topics cover development of accounting standards, the conceptual framework, balance sheets, income statements, cash flow statements, inventories, and receivables. Students are required to participate in online discussions on the weekly topics and complete quizzes to demonstrate their understanding of the concepts.
Acct 504 mart perfect education acct504mart.comwilliamtrumpya
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Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc.,
Differentiating Depreciation Methods
Acct 504 mart perfect education acct504mart.comwilliamtrumpya
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www.acct504mart.com
Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc.,
Differentiating Depreciation Methods
Financial accounting 17th edition williams solutions manualKrisWu123
Download at: https://goo.gl/VEVubs
financial and managerial accounting 17th edition solutions pdf
financial and managerial accounting 16th edition answers
financial and managerial accounting 17th edition solutions free
financial and managerial accounting solutions pdf
financial and managerial accounting the basis for business decisions 17th edition solutions
financial and managerial accounting 16th edition solutions pdf
financial accounting solution manual pdf
financial and managerial accounting 16th edition answers pdf
International Business-United States of Americasdusane1
Overview of business in America.United States of America", "America", "US", "U.S.", "USA", and "U.S.A." redirect here. For the landmass encompassing North and South America, see Americas. For other uses, see America (disambiguation), US (disambiguation), USA (disambiguation), and United States (disambiguation). Global Strategy formation
There are passions far more exciting than the physical ones...'intellectual passion, mathematical passion, passion for discovery and exploration: the mightiest of all passions'". His contemporary, Sigmund Freud, argued for a continuity (not a contrast) between the two, physical and intellectual, and commended the way "Leonardo had energetically sublimated his sexual passions into the passion for independent scientific research".
Rock the bulb - Green Gamification - Manu Melwin Joymanumelwin
Rock the Bulb, by Washington State’s Puget Sound Energy (PSE), was a multi-event campaign that ran from July through October of 2009 (Puget Sound Energy 2009).
Module 2 - BackgroundPrinciples of AccountingConsider that acc.docxroushhsiu
Module 2 - Background
Principles of Accounting
Consider that accounting terms are not always obvious in their meanings. If you are learning terminology or need to clarify a vocabulary item, a good reference for accounting terms is:
New York Society of Certified Public Accountants (2017) Accounting Terminology Guide - Over 1,000 Accounting and Finance Terms. Retrieved from: http://www.nysscpa.org/professional-resources/accounting-terminology-guide#sthash.UMS3kGjf.dpbs
For a glossary of general business terms:
Berry, T. (n.d.) Business terms glossary. BPlans. Retrieved from http://articles.bplans.com/business-term-glossary/
The Annual Report
The annual report is the way a firm summarizes its performance over the past year and where it sets a vision for the future. Publicly held companies (traded on the stock exchange) must prepare annual reports, and annual reports are usually public documents. Investors and the general public use annual reports as sources of information about the financial health of a company. We will be learning about reading annual reports to learn general accounting principles in the context of learning about a company and the industry in which it operates. Although we will not discuss all sections of an annual report, we will touch on the sections that have the most relevance to providing the HRM professional with the most helpful insights into the operations of the firm.
Front matter
This is largely text material that sets the stage for the quantitative data that follows.
The Opening letter to the Shareholders
The opening letter is generally the first section of the annual report and is a statement by the chairman of the board. The letter sets the stage for how the firm’s management wants you to view the report and the previous year’s performance, and so in this sense sets the “strategic intent” of the report. A careful reading of the letter can give context to the numbers that follow by giving you clues of what to look for in terms of goals met – or problems that prevented goal attainment. The firm may be on the verge of explosive growth, or a meltdown.
Sales and Marketing
This section covers the company’s product/service line. Typically, it also contains descriptions of key departments or groups and the work they do. By reading this section, you can deduce what products or services are most important to the firm and which divisions are seen as most critical to its success. This section can also give you clues as to what the future may hold.
The Auditor’s Letter
You might be tempted to skip this section, because it probably seems superfluous (like the terms and conditions acknowledgment on software updates. You know you don’t read those!). However, you should know that by law, a publicly traded firm needs to be independently audited every year. This is to protect the investor, and the auditors will state whether or not the data the company presents is accurate and if they have sufficient controls in place to prevent frau ...
A1 Experiential Learning Project Apply the Design Thinking App.docxdaniahendric
A1: Experiential Learning Project:
Apply the Design Thinking Approach to the creation of a new service and prepare a presentation of the entire process.
The presentation should include all the following major steps of Design Thinking Approach:
a) Understand. Referring to available sources (own experience, outside experts …) research the status quo on
the concept you would like to develop
b) Observe: conduct an ethnographic research by firsthand observation of potential users
c) Ideate: create as many ideas as possible (use techniques as brainstorming). Select the most promising idea
d) Prototype: translate the idea into a simple representation of the app
e) Test: the model with target users. Interact with them. Observe their reactions and behavior and collect
feed-backs to refine the concept
f) The work should also include the marketing plan of the new service.
Outcome requirements:
The slide/visual presentation (format can be selected by the team) will contain the steps in the agenda
mentioned above and it will present the service concept. A visual representation of the service is mandatory.
The Experiential Learning Project will be scored across four (4) attributes based on:
a) Applying the Design Thinking Model. For this first score, the instructor will assess the extent to which
students are able to apply the model into a simulated-real life situation
b) Transforming observations and data into usable information. For this second score, the instructor will
evaluate the extent to which students were able to organize information collected on field analysis in a
presentable fashion (i.e., table, figures, videos …)
c) Creativity: For the third score, the instructor will assess the extent to which students are able to apply
creativity in a new service development and into the presentation itself
d) Original Results: For the fourth score, the instructor will assess the extent to which students are able to
apply the innovation drivers to their project
**********EXAMPLE************
This class was maybe the most troublesome of some other class I have taken at TUI. Be that as it may, I can say I have left with a superior comprehension of Principles of Accounting. The inside and out readings of how to comprehend organizations money related wellbeing was exceptionally enlightening, yet for the present minute isn't important to what I do.
An idea that was precious to me was opportunity costs. They comprise of decisions that make substitute occasions inside people. For myself being a dad of three, officer, and understudy, I in some cases feel that I am out of luck, yet l still figure out how to get past this voyage called life. Deciding to plan something that is going for require penances is a lot of merited, and can have an advantageous effect whenever finished.
The SLP for Module 3 was intriguing on the grounds that as customers, we investigate the "four P's" constantly while shopping. Being from a little Pacific island, regardless we use ...
Acct 504 mart perfect education acct504mart.comdavidwarn12
FOR MORE CLASSES VISIT
www.acct504mart.com
Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions7 How should mixed costs be classified in CVP analysis? What approach is used to effect the appropriate classification?
PERSONAL CHAPTER TAKEAWAYS Action Plan – Tunnel Vision .docxherbertwilson5999
PERSONAL CHAPTER TAKEAWAYS
Action Plan – Tunnel Vision
Take a few minutes and complete this Action Plan about Tunnel Vision.
Tunnel Vision
Self-Handicap
What is the
Situation
Trigger Impact on Others What to Do/When
Changing your
mindsets
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Get beyond linear
thinking
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Learn to juggle
projects
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Think long-term. ___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
View situations
from different
perspectives
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Practice conceptual
thinking
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Engage in “what-if”
thinking
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Create a map of the
variables for a
project
and their
interactions
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Analyze group
influences on
your thinking
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Choose a problem
to work on
when you have free
moments
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Better Prioritizing
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Deal with
procrastination
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Ignoring people
after you get your
way
___Expedient .
Financial accounting 17th edition williams solutions manualKrisWu123
Download at: https://goo.gl/VEVubs
financial and managerial accounting 17th edition solutions pdf
financial and managerial accounting 16th edition answers
financial and managerial accounting 17th edition solutions free
financial and managerial accounting solutions pdf
financial and managerial accounting the basis for business decisions 17th edition solutions
financial and managerial accounting 16th edition solutions pdf
financial accounting solution manual pdf
financial and managerial accounting 16th edition answers pdf
International Business-United States of Americasdusane1
Overview of business in America.United States of America", "America", "US", "U.S.", "USA", and "U.S.A." redirect here. For the landmass encompassing North and South America, see Americas. For other uses, see America (disambiguation), US (disambiguation), USA (disambiguation), and United States (disambiguation). Global Strategy formation
There are passions far more exciting than the physical ones...'intellectual passion, mathematical passion, passion for discovery and exploration: the mightiest of all passions'". His contemporary, Sigmund Freud, argued for a continuity (not a contrast) between the two, physical and intellectual, and commended the way "Leonardo had energetically sublimated his sexual passions into the passion for independent scientific research".
Rock the bulb - Green Gamification - Manu Melwin Joymanumelwin
Rock the Bulb, by Washington State’s Puget Sound Energy (PSE), was a multi-event campaign that ran from July through October of 2009 (Puget Sound Energy 2009).
Module 2 - BackgroundPrinciples of AccountingConsider that acc.docxroushhsiu
Module 2 - Background
Principles of Accounting
Consider that accounting terms are not always obvious in their meanings. If you are learning terminology or need to clarify a vocabulary item, a good reference for accounting terms is:
New York Society of Certified Public Accountants (2017) Accounting Terminology Guide - Over 1,000 Accounting and Finance Terms. Retrieved from: http://www.nysscpa.org/professional-resources/accounting-terminology-guide#sthash.UMS3kGjf.dpbs
For a glossary of general business terms:
Berry, T. (n.d.) Business terms glossary. BPlans. Retrieved from http://articles.bplans.com/business-term-glossary/
The Annual Report
The annual report is the way a firm summarizes its performance over the past year and where it sets a vision for the future. Publicly held companies (traded on the stock exchange) must prepare annual reports, and annual reports are usually public documents. Investors and the general public use annual reports as sources of information about the financial health of a company. We will be learning about reading annual reports to learn general accounting principles in the context of learning about a company and the industry in which it operates. Although we will not discuss all sections of an annual report, we will touch on the sections that have the most relevance to providing the HRM professional with the most helpful insights into the operations of the firm.
Front matter
This is largely text material that sets the stage for the quantitative data that follows.
The Opening letter to the Shareholders
The opening letter is generally the first section of the annual report and is a statement by the chairman of the board. The letter sets the stage for how the firm’s management wants you to view the report and the previous year’s performance, and so in this sense sets the “strategic intent” of the report. A careful reading of the letter can give context to the numbers that follow by giving you clues of what to look for in terms of goals met – or problems that prevented goal attainment. The firm may be on the verge of explosive growth, or a meltdown.
Sales and Marketing
This section covers the company’s product/service line. Typically, it also contains descriptions of key departments or groups and the work they do. By reading this section, you can deduce what products or services are most important to the firm and which divisions are seen as most critical to its success. This section can also give you clues as to what the future may hold.
The Auditor’s Letter
You might be tempted to skip this section, because it probably seems superfluous (like the terms and conditions acknowledgment on software updates. You know you don’t read those!). However, you should know that by law, a publicly traded firm needs to be independently audited every year. This is to protect the investor, and the auditors will state whether or not the data the company presents is accurate and if they have sufficient controls in place to prevent frau ...
A1 Experiential Learning Project Apply the Design Thinking App.docxdaniahendric
A1: Experiential Learning Project:
Apply the Design Thinking Approach to the creation of a new service and prepare a presentation of the entire process.
The presentation should include all the following major steps of Design Thinking Approach:
a) Understand. Referring to available sources (own experience, outside experts …) research the status quo on
the concept you would like to develop
b) Observe: conduct an ethnographic research by firsthand observation of potential users
c) Ideate: create as many ideas as possible (use techniques as brainstorming). Select the most promising idea
d) Prototype: translate the idea into a simple representation of the app
e) Test: the model with target users. Interact with them. Observe their reactions and behavior and collect
feed-backs to refine the concept
f) The work should also include the marketing plan of the new service.
Outcome requirements:
The slide/visual presentation (format can be selected by the team) will contain the steps in the agenda
mentioned above and it will present the service concept. A visual representation of the service is mandatory.
The Experiential Learning Project will be scored across four (4) attributes based on:
a) Applying the Design Thinking Model. For this first score, the instructor will assess the extent to which
students are able to apply the model into a simulated-real life situation
b) Transforming observations and data into usable information. For this second score, the instructor will
evaluate the extent to which students were able to organize information collected on field analysis in a
presentable fashion (i.e., table, figures, videos …)
c) Creativity: For the third score, the instructor will assess the extent to which students are able to apply
creativity in a new service development and into the presentation itself
d) Original Results: For the fourth score, the instructor will assess the extent to which students are able to
apply the innovation drivers to their project
**********EXAMPLE************
This class was maybe the most troublesome of some other class I have taken at TUI. Be that as it may, I can say I have left with a superior comprehension of Principles of Accounting. The inside and out readings of how to comprehend organizations money related wellbeing was exceptionally enlightening, yet for the present minute isn't important to what I do.
An idea that was precious to me was opportunity costs. They comprise of decisions that make substitute occasions inside people. For myself being a dad of three, officer, and understudy, I in some cases feel that I am out of luck, yet l still figure out how to get past this voyage called life. Deciding to plan something that is going for require penances is a lot of merited, and can have an advantageous effect whenever finished.
The SLP for Module 3 was intriguing on the grounds that as customers, we investigate the "four P's" constantly while shopping. Being from a little Pacific island, regardless we use ...
Acct 504 mart perfect education acct504mart.comdavidwarn12
FOR MORE CLASSES VISIT
www.acct504mart.com
Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions7 How should mixed costs be classified in CVP analysis? What approach is used to effect the appropriate classification?
PERSONAL CHAPTER TAKEAWAYS Action Plan – Tunnel Vision .docxherbertwilson5999
PERSONAL CHAPTER TAKEAWAYS
Action Plan – Tunnel Vision
Take a few minutes and complete this Action Plan about Tunnel Vision.
Tunnel Vision
Self-Handicap
What is the
Situation
Trigger Impact on Others What to Do/When
Changing your
mindsets
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Get beyond linear
thinking
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Learn to juggle
projects
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Think long-term. ___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
View situations
from different
perspectives
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Practice conceptual
thinking
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Engage in “what-if”
thinking
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Create a map of the
variables for a
project
and their
interactions
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Analyze group
influences on
your thinking
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Choose a problem
to work on
when you have free
moments
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Better Prioritizing
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Deal with
procrastination
___Expedient
___Avoiding
___Apprehension
___Self-Deception
___Deliberate Action________
___Self-efficacy_____________
___Face it _________________
___Look & Listen___________
Ignoring people
after you get your
way
___Expedient .
FOR MORE CLASSES VISIT
www.acct504mart.com
Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions: For this week's checkpoint we had to look up three job postings in the field of accounting. I'm glad that I got this opportunity because it actually opened my eyes and expanded my knowledge in the accounting field. The three job positions are listed below. The first job title was Senior Internal Auditor.
10Appendix 1Student Guide to Case Analysis Using the Ameri.docxdrennanmicah
10
Appendix 1
Student Guide to Case Analysis Using the American Management Association 8-step Process.
Sally Armstrong, May 2005. Davenport University.
References
Patten, D. (undated). Strategic Case Analysis. Davenport University.
Boone & Kurtz, (2006). Contemporary Business 11th Ed. New York. McGraw-Hill Irwin.
Case studies present you with real life scenarios and situations that help to develop your critical thinking, problem solving and decision making skills in the relatively safe environment of the classroom. Whether the situation described in a case is fairly straightforward or is highly complex, as in upper level courses, the entire problem solving process involves 3 stages and eight steps. However, in Introductory or Foundation courses the questions at the end of case studies will typically focus on specific steps, in the first two stages. This introductory guide will help you understand and practice all the steps of the process and will ensure that you are well prepared to tackle the more challenging cases in upper level classes when that time comes. It will also help you to become a better problem solver in your domestic, social and working life.
Steps 1-3 – The Problem Identification Stage
Step 1 – Review the case and identify the relevant facts
Problem situations or cases often include extraneous information or irrelevant ‘stuff’. Therefore, when you are trying to find a solution to a situation or to answer a case question, the first step is to identify the key facts so that you can figure out what is going on before deciding how to answer or solve the problem. In advanced courses, this usually involves extensive research but in an introductory or foundation level course, you will typically only use the information in the case. However, to do well in any case study assignment, it is important to read the case carefully and also to make sure you fully understand what the assignment and/or case questions are asking for. As you review the case, this will help you to identify whatyou need to pay attention to and what to ignore. That’s what relevance means – eliminating ‘stuff’ and identifying the important facts in a situation.
Let us assume that you have just read a case entitled XYZ company and are trying to answer the following question:
What are the current challenges facing XYZ company?
You must identify and list the key facts which, for the purposes of our example, are those listed below:
· The government has recently deregulated the industry to stimulate competition.
· Telecommunications advances have led to increasing internet use.
· More and more users are comparison shopping on the internet
· Price competition in the industry is increasing and average net profit margins have fallen 1% in the past two years.
· XYZ recently laid off 10% of its workforce in an effort to lower costs and remain competitive. Management believes that this is enough to allay the effects of competition for the next 3 years.
· Many co.
FINC 331Week 2 Homework HintsOverviewThis week the hom.docxericn8
FINC 331
Week 2 Homework Hints
Overview
This week the homework is rather more difficult than last week. What is different this week from last week is that most questions require a calculation or the understanding of the formula. That said most of the questions are straight forward. There are a few tricky ones though!
These questions deal with:
Days receivable
Fixed Asset Turnover ratio
P/E ratio, EPS and Stock price computation
Alternative Financing Needed (AFN)
Contribution margin
Days receivable ratio
(aka Days Sales Outstanding)
This ratio considers the frequency with which the company collects on its outstanding Credit Sales in terms of number of days. There are two parts to this calculation: Accounts Receivable (A/R) Turnover, and then the Days Receivable.
Step 1:
A/R Turnover = Credit Sales ÷ Average A/R
A/R turnover represents the number of times the A/R is collected in a year.
Step 2:
Days Sales = 365 days ÷ A/R turnover
Days Sales Outstanding takes the A/R turnover and restates it into the number of days.
Fixed Asset Turnover ratio
This ratio helps analysts determine how efficiently a company uses its fixed assets to generate income.
Fixed assets are things like buildings, equipment, land, etc. They are long-term assets that benefit the company for more than one year. Fixed assets re sometimes called PP&E which stands for property, plant and equipment.
Fixed Asset TO = Net sales ÷ Net PP&E
The “Net” is important in the denominator because it means that the total value of the PP&E must be adjusted for depreciation.
P/E ratio and stock price
(questions #12 & 13)
The Price to Earnings ratio tells us the ratio of a company’s stock price to its per share of earnings (EPS).
EPS is the portion of Net Income that is available for each share of outstanding common stock.
EPS = (Net Income – Dividends) ÷ # of shares outstanding
and
P/E ratio = stock price / EPS
If we know the P/E ratio and the EPS, we can determine the stock price:
Stock price = P/E ratio x EPS
Additional Funds Needed (AFN)
question #14
When a company is forecasting its revenue and needs into the future, it usually creates Pro Forma financial statements. These statements take the goals and expectations that the company has and turns them into dollar amounts on financial statements. If a company expects to grow at a certain rate, and have costs that are a certain amount, it must be able to predict if it can pay for all of its needs. In many cases it cannot and it must seek external financing. We can compute how much external financing is need by simply making sure that the Balance Sheet balances. Remember, Assets = Liabilities + Equity.
So, if we know the net income, the projected increase in assets and projected liabilities plus the retention ratio, we can compute the amount of Additional Funds Needed. The retention ratio is the ratio of the net income that the company keeps and does not pay out as.
ACCT 504 MART Perfect Education/acct504mart.comsarathkum12211
FOR MORE CLASSES VISIT
www.acct504mart.com
Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions:June2Gordon received $55,000 cash and issued common stock to the stockholders. Current assets
Similar to Acct 304 ( intermediate accounting i ) entire course (16)
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
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This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
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Company Valuation webinar series - Tuesday, 4 June 2024
Acct 304 ( intermediate accounting i ) entire course
1. ACCT 304 ( Intermediate Accounting I ) Entire Course
https://homeworklance.com/downloads/acct-304-intermediate-accounting-i-entire-course/
ACCT 304 ( Intermediate Accounting I ) Entire Course
week 1
Development
of
Accounting
Standards
(graded)
Hello Class, Welcome to week 1 Discussion Topic 1.
Generally Accepted Accounting Principles (GAAP) are guidelines for companies to follow as they prepare and issue
financial statements.
Let’s start by getting an understanding of why the guidelines were developed in the first place?
1. a) Who relies on the financial statements (external users) and why, what are they using the
statements for?
b) What happens if an External User relies on financial statements that are inaccurate? (what could happen
to the corporaton)
c) What negative consequences can arise from relying on inaccurate financial statements? (what could
happen to the external user)
Remember, these discussion threads are supposed to be stimulating conversation, a back and forth discussion
among students and teacher.
After the first person responds, he or she can respond to the first item, the next person can add a point that maybe
the previous discussions failed to point out or answer the second item..
I don’t want to see everybody repeating the same answer. You wouldn’t do that if you were in class and I asked a
question.
You need to respond to each of the two separate discussion topics by Wednesday the latest. And, including
Wednesday, you need to respond to each of the 2 discussion threads on 3 different days. For example, you could
come in as late as Wednesday and respond to topic one and two. Then do the same for both topics on Thursday and
Sunday.
They need to be of quality responses. Not “I agree with what you said John.” or Not “Yes, John, you are correct in
saying that…..”
Prof. Marnell
Accounting
Conceptual
Framework
(graded)
2.
Hello Class, Welcome to week 1 Discussion Topic 2.
A sound foundation is necessary for success in any task from building a house to putting on make-up.
In terms of U.S. Accounting Standards, it is also necessary to have a sound foundation, referred to as the conceptual
framework.
a)What is the conceptual framework, and why is it important?
Once students have answered the above thoroughly, lets move on and…
1. b) discuss it step by step starting with the objective. What is the objective of accounting standards?
Remember, these discussion threads are supposed to be stimulating conversation, a back and forth discussion
among students and teacher.
After the first person responds, he or she can respond to the first item, the next person can add a point that maybe
the previous discussions failed to point out or answer the second item..
I don’t want to see everybody repeating the same answer. You wouldn’t do that if you were in class and I asked a
question.
You need to respond to each of the two separate discussion topics by Wednesday the latest. And, including
Wednesday, you need to respond to each of the 2 discussion threads on 3 different days. For example, you could
come in as late as Wednesday and respond to topic one and two. Then do the same for both topics on Thursday and
Sunday.
They need to be of quality responses. Not “I agree with what you said John.” or Not “Yes, John, you are correct in
saying that…..”
Prof. Marnellweek 2
Balance
Sheet:
Purpose
and
Uses
(graded)
Hello class;
The balance sheet is one of the first financial statements I turn to when reviewing a company. You can learn a lot
about a company by looking at its balance sheet.
The balance sheet is also called the statement of financial position. Why is this? What is the purpose of the
balance sheet?
Hello Class;
Disclosures are required to elaborate on certain items that are presented in summarized form in the financial
statements. There are specific disclosure notes that are required to be present in all financial statements, while others
may be unique to the disclosure needs of a particular company.
Let’s start by discussing the three required disclosures. Please pick one and explain what information is to be
included in the note:
1. a) Summary of Significant Accounting Policies
2. b) Subsequent Events
3. c) Third Party Transactions
3. ACCT 304 week 4
Revenue
Recognition
(graded)
Hello Class;
When a company sells a product for cash, it generally recognizes the revenue. However, there are situations when it
is not always clear when a company should recognize the revenue.
1) How do you handle a car dealership that sells a warranty contract to its customers for $650 that will cover the next
5 years?
Time
Value of
Money
Concepts
(graded)
Hello Class;
You might think of the “time value of money” to be a topic for Finance class, but accountants need an understanding
of this topic as well.
Let’s discuss where/why an accountant may need to use these skills/calculations.
ACCT 304 week 3
Income
Statement
(graded)
Hello Class;
Students often refer to an income statement as the statement that shows how much money a company has made.
Money, by definition, is something that is generally accepted as a medium of exchange or means or payment.
Keeping that definition in mind, an income statement is not a measure of money, but rather it is a measure of net
income (or loss) also known as profit (or loss).
Select a publicly held company like Apple, Microsoft, IBM, Hewlett Packard, Home Depot (Note: do not select a
company already chosen by your classmate). Go to their website and select Investor Relations and there you will
find the company’s annual report.
Provide the link to that annual report and based on what you have read about income statements in this
chapter and in the Becker materials,tell us what you have learned about the company from reviewing its
income statement.
Prof. Marnell
4. Cash-
Flow
Statement
(graded)
Hello Class;
The Statement of Cash Flows has historically given students a lot of heartburn, but it really isn’t that scary. A cash-
flow statement, simply stated, reports the uses (where the cash was spent) and the sources (where the cash came
from) of cash during a period. Let’s start with a very simplistic set of facts. I run a CPA firm, and I billed my clients
$50K during the month of February. To earn that $50K, I incurred $20K of wage expense and another $10K of
overhead (rent, utilities, insurance, etc.). So I made $20K profit, right? So I am sitting pretty? Not necessarily. What if
I now tell you that $40K of my billings have yet to be collected? And my E&O insurance carrier increased my premium
and I had to pre-pay $10K of premiums this month.
1. a) How does my cash flow differ from my profit?
2. b) Will these transactions appear on my income statement?
3. c) My cash-flow statement?
Prof. Marnell
ACCT
304
week 5
Cash
(graded)
Hello Class;
Cash is listed first on the balance sheet because it is the asset most readily available to pay off debt or use in
operations. Cash is also one of the assets that most often “grows legs” and walks away. Therefore, it is important that
any business protect its cash; it does so through Internal Control Procedures.
1. a) Please start by defining Internal Control,
2. b) then discuss specific procedures related to cash.
Receivables
(graded)
Hello Class;
When a business extends credit to its customers, we call this Accounts Receivable. Often a business will grant its
customers a discount.
a)What are the two types of discounts, and
1. b) how does the journal entry to record the sale change when there is a discount granted?
ACCT 304 week 7
5. Inventories—
LCM
(graded)
Hello Class;
The lower-of-cost-or-market (LCM) approach was developed to avoid reporting inventory at an amount greater than
the benefits it can provide. The LCM approach records losses in the period the value of the inventory drops below its
cost instead of later in the period that the goods are ultimately sold.
Is this a conservative or an aggressive approach? What does GAAP say about LCM?
Inventory
Errors
(graded)
Hello Class;
It is discovered in 2013 that ending inventory from 2011 is understated.
What accounts will be affected by this understatement, and how will they be affected?
This is a situation that really happens. Start with the 2011 inventory being understated, and track the changes
through the inventory account to 2013.
ACCT 304 week 6
Inventory
Classification
and Systems
(graded)
Hello Class;
Merchandise Inventory is assets held for sale in the ordinary course of business of wholesale and retail companies.
Manufacturing inventories are raw materials or WIP (Work In Process) that will be used or consumed in the
production of finished goods to be sold.
iscussion topic #1
1. explain how inventory is presented on the balance sheet, and
2. what further information you found in the footnote disclosures about the inventory method and “Impairment
of Inventory”, if any.
Inventoriable
Costs/Cost-
Flow
Assumptions
(graded)
6.
Hello Class;
We read about the Perpetual and the Periodic Inventory System. Regardless of which system is used, under both, we
need to assign dollar amounts to the Ending Inventory and Cost of Goods Sold so that we can trace how costs flow
through the system.
1) Start by identifying what is included in inventory and then
2) discuss how each item might be treated differently in the Perpetual vs. the Periodic Inventory System.
quizesQuestion 1. Question : (TCO 1) Which of the following has the authority to set accounting standards in the
United States?
FASB
IRS
SEC
AICPA
: 1
Question 2. Question : (TCO 2) SFAC No.5 focuses on:
objectives of financial reporting.
qualitative characteristics of accounting information.
Recognition and measurement concepts in accounting, including assumptions and principles.
elements of financial statements.
: 1
5 of 5
Question 3. Question : (TCO 3) Mary Parker Co. invested $15,000 in ABC Corporation and received capital stock in
exchange. Mary Parker Co.’s journal entry to record this transaction would include a:
debit to investments.
credit to retained earnings.
credit to capital stock.
debit to expense.
: 2
5 of 5
Question 4. Question : (TCO 3) The adjusting entry required to record accrued expenses includes:
a credit to cash.
a debit to an asset.
a credit to an asset.
a credit to liability.
: 2
5 of 5
Question 5. Question : (TCO 3) Temporary accounts would not include:
salaries payable.
depreciation expense.
7. supplies expense.
cost of goods sold.
: 2
5 of 5
Question 6. Question : (TCO 4) Notes payable:
is a current liability account.
usually has a debit balance.
is a non-current liability account.
cannot determine its classification without additional information.
: 2
5 of 5
Question 7. Question : (TCO 4) The current ratio is given by:
current assets divided by non-current assets.
current assets divided by total assets.
current assets divided by current liabilities.
current assets divided by total liabilities.
: 3
5 of 5
Question 8. Question : (TCO 5) The distinction between operating and non-operating income relates to:
continuity of income.
principal activities of the reporting entity.
consistency of income stream.
reliability of measurements.
: 4
5 of 5
Question 9. Question : (TCO 5) A voluntary change in accounting principle is accounted for by:
a cumulative effect on income in the year of the change.
a retrospective reporting of all comparative financial statements shown.
a prior period adjustment.
a separate line component of income.
: 4
5 of 5
Question 10. Question : (TCO 5) Cash flows from investing activities do not include:
proceeds from issuing bonds.
payment for the purchase of equipment.
proceeds from the sale of marketable securities.
cash outflows from acquiring land.
: 4
8. 5 of 5
Question 11. Question : (TCO 5) The Maytag Corporation’s income statement includes income from continuing
operations, a loss from discontinued operations, and extraordinary items. Earnings per share information would be
provided for:
net income only.
income from continuing operations and net income only.
income from continuing operations, loss from discontinued operations, and net income only.
income from continuing operations, loss from discontinued operations, extraordinary items, and net income.
: 4
5 of 5
Question 12. Question : (TCO 5) In a statement of cash flows prepared under International Financial Reporting
Standards, each of the following items is typically classified as a financing cash flow except:
interest paid.
dividends paid.
proceeds from the issuance of long-term debt.
dividends received.
: 4
5 of 5
Question 13. Question : (TCO 4) Which is a shareholders’ equity account in the balance sheet?
Accumulated depreciation
Paid-in capital
Dividends payable
Marketable securities
: 3
5 of 5
Question 14. Question : (TCO 4) Which of the following groups is not among the external users for whom financial
statements are prepared?
Customers
Suppliers
Employees
All of the above are external users of financial statements.
(TCO 5) Misty Company reported the following before-tax items during the current year:
Misty’s effective tax rate is 40% and there were 1,000 shares of common stock outstanding.
What would be Misty’s income before extraordinary item(s)?
Question 2. Question : (TCO 4) Listed below are account balances (in $millions) taken from the records of Symphony
Stores. All of these are permanent accounts, except the last two that have yet to be closed. The installment
receivables are current. Symphony uses a perpetual inventory system.
What would Symphony report as total assets? Hint: Don’t forget to deduct the contra assets.
9. (TCO 4) Explain how management’s discussion and analysis of its operations and liquidity may be helpful to
investors.
Question 2. Question : (TCO 2) What are the key provisions of the Public Company Accounting Reform and
Investor Protection (Sarbanes-Oxley) Act of 2002?
Question 3. Question : (TCO 5) Give an example of a non-cash financing and investing activity and explain when
and how it would be reported in the financial statements.
Question 4. Question : (TCO 3) What is the purpose of the closing process?
(TCO 1) The SEC issues accounting standards in the form of
accounting research bulletins.
financial reporting releases.
financial accounting standards.
financial technical bulletins.
:
Question 2. Question :
(TCO 2) Enhancing qualitative characteristics of accounting information include each of the following, except
timeliness.
materiality.
comparability.
verifiability.
Comments:
Question 3. Question :
(TCO 3) Hughes Aircraft sold a four-passenger airplane for $380,000, receiving a $50,000 down payment and a 12%
note for the balance. The journal entry to record this sale would include a
credit to cash.
debit to cash discount.
debit to note receivable.
credit to note receivable.
Comments:
Question 4. Question :
(TCO 3) When a tenant makes an end-of-period adjusting entry credit to the prepaid rent account
he or she usually debits cash.
he or she usually debits an expense account.
he or she debits a liability account.
he or she does none of the above.
Comments:
Question 5. Question :
(TCO 3) Permanent accounts would not include
interest expense.
wages payable.
prepaid rent.
unearned revenues.
Question 1. Question :
10.
(TCO 4) Cash equivalents would not include
cash not available for current operations.
money market funds.
United States Treasury bills.
bank drafts.
Question 2. Question :
(TCO 4) Which is a shareholders’ equity account in the balance sheet?
Accumulated depreciation
Paid-in capital
Dividends payable
Marketable securities
Instructor Explanation: See Chapter 3.
Points Received: 4 of 4
Comments:
Question 3. Question :
(TCO 4) Janson Corporation Co.’s trial balance included the following account balances at December 31, 2011:
Investments consist of treasury bills that were purchased in November and mature in January. Prepaid insurance is
for the next 2 years. What amount should be included in the current asset section of Janson’s December 31, 2011
balance sheet?
$88.000
$85,000
$55,000
$135,000
Question 4. Question :
(TCO 4) Which of the following would be disclosed in the summary of significant accounting policies disclosure note?
Option A
Option B
Option C
Option D
Question 5. Question :
(TCO 4) Below is the partial balance sheet ($ in thousands) for Paisano Seafood Inc.
The current ratio (rounded) is
1.98.
1.58.
1.17.
0.66.
quiz 3
<pstyle=”font-size: 11.8181819915771px;”=””>TCO 5) The distinction between operating and non-operating income
relates to
continuity of income.
principal activities of the reporting entity.
consistency of income stream.
reliability of measurements.
11. Instructor Explanation: See Chapter 4.
Points Received: 4 of 4
Comments:
Question 2. Question :
(TCO 5) Major Co. reported a 2011 income of $300,000 from continuing operations before income taxes and a
before-tax extraordinary loss of $80,000. All income is subject to a 30% tax rate. In the 2011 income statement, Major
Co. would show the following line-item amounts for income tax expense and net income.
$66,000 and $210,000
$90,000 and $154,000
$90,000 and $276,000
$66,000 and $220,000
Instructor Explanation:
Points Received: 4 of 4
Comments:
Question 3. Question :
(TCO 5) The financial statement presentation of a change in depreciation method is most similar to that of reporting
changes in accounting estimates.
prior period adjustments.
ion of errors.
extraordinary items.
Instructor Explanation: See Chapter 4.
Points Received: 4 of 4
Comments:
Question 4. Question :
(TCO 5) Cash flows from investing activities do not include
proceeds from issuing bonds.
payment for the purchase of equipment.
proceeds from the sale of marketable securities.
cash outflows from acquiring land.
Instructor Explanation: See Chapter 4.
Points Received: 4 of 4
Comments:
Question 5. Question :
(TCO 5) Review Rowdy’s Restaurants cash flow (in millions):
Rowdy’s would report net cash inflows (outflows) from financing activities in the amount of
$1,100.
$(1,100).
$820.
$900.
Instructor Explanation:
Points Received: 4 of 4
Comments:
4
12. <pstyle=”font-size: 11.8181819915771px;”=””>(TCO 5) For a typical manufacturing company, the most common
critical point for recognizing revenue is the date
an order is received.
production is completed.
the product is delivered.
payment is received.
Question 2. Question :
(TCO 5) On December 15, 2011, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby
appropriately uses the installment sale method of accounting for this transaction. Terms called for a down payment of
$500,000 with the balance in two equal, annual installments, payable on December 15, 2012 and December 15,
2013. Ignore interest charges. Rigsby has a December 31 year-end. In 2011, Rigsby would recognize the realized
gross profit of
$500,000.
$0.
$900,000.
$100,000.
Question 3. Question :
(TCO 6) Present and future value tables of $1 at 3% are presented below:
Carol wants to invest money in a 6% CD account that compounds semiannually. Carol would like the account to have
a balance of $50,000 5 years from now. How much must Carol deposit to accomplish her goal?
$35,069
$43,131
$37,205
$35,000
Comments:
Question 4. Question :
(TCO 6) Sondra deposits $2,000 in an IRA account on April 15, 2011. Assume the account will earn 3% annually. If
she repeats this for the next 9 years, how much will she have on deposit on April 14, 2020?
$20,600
$20,928
$23,616
$24,715
Question 5. Question :
(TCO 6) Jose wants to cash in his winning lottery ticket. He can either receive five, $5,000 annual payments starting
today, or he can receive a lump-sum payment now based on a 3% annual interest rate. What is the present value of
the installments if he opts for the lump sum payment?
$22,899
$21,565
$23,000
5
<pstyle=”font-size: 11.8181819915771px;”=””>(TCO 7) Cash may not include
foreign currency.
money orders.
restricted cash.
13. undeposited customer checks.
Question 2. Question :
(TCO 7) On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit term 2/10,
n/30. Flores uses the gross method of accounting for cash discounts. What is the correct entry for Flores on
November 17, assuming the correct payment was received on that date?
Option a
Option b
Option c
Option d
Question 3. Question :
(TCO 7) Which of the following does not change the balance in accounts receivable?
Returns on credit sales
Collections from customers
Bad debts expense adjusting entry
Write-offs
Question 4. Question :
(TCO 7) Brockton Carpet Cleaning prepares a bank reconciliation at the end of every month. At the end of July, the
balance in the general ledger checking account was $2,750, and the bank balance on the bank statement was
$2,980. Outstanding checks totaled $680, and deposits in transit were $400. The bank statement revealed that a
check written for $120 was incorrectly recorded by Brockton as a $220 disbursement. The bank statement listed
service charges and NSF check charges totaling $150. The corrected cash balance is
$2,270.
$2,550.
$2,470.
$2,700.
Question 5. Question :
(TCO 7) Calistoga Produce estimates bad debt expense at ½% of credit sales. The company reported accounts
receivable and allowance for uncollectible accounts of $471,000 and $1,650, respectively, at December 31, 2010.
During 2011, Calistoga’s credit sales and collections were $315,000 and $319,000, respectively, and $1,720 in
accounts receivable were written off. Calistoga’s adjusted allowance for uncollectible accounts at December 31, 2011
is
$1,575.
$1,505.
$1,650.
$1,720.
quiz 7
<pstyle=”font-size: 11.8181819915771px;”=””>(TCO 8) In applying LCM, market cannot be
less than net realizable value minus a normal profit margin.
net realizable value less reasonable completion and disposal costs.
greater than net realizable value reduced by an allowance for normal profit margin.
less than cost.
Question 2. Question :
14. (TCO 8) Montana Co. has determined its year-end inventory on a FIFO basis to be $600,000. Information pertaining
to that inventory is as follows:
What should be the carrying value of Montana’s inventory?
$600,000
$520,000
$590,000
$510,000
Question 3. Question :
(TCO 8) Howard’s Supply Co. suffered a fire loss on April 20, 2011. The company’s last physical inventory was taken
on January 30, 2011, at which time the inventory totaled $220,000. Sales from January 30 to April 20 were $600,000,
and purchases during that time were $450,000. Howard’s consistently reports a 30% gross profit. The estimated
inventory loss is
$490,000.
$238,000.
$250,000.
None of the above
Question 4. Question :
(TCO 8) When computing the cost-to-retail percentage for the conventional retail method, included in the
denominator are
net markups and net markdowns.
neither net markups nor net markdowns.
net markups, but not net markdowns.
net markdowns, but not net markups.
Question 5. Question :
(TCO 8) Retrospective treatment of prior years’ financial statements is required when there is a change from
average cost to FIFO.
FIFO to average cost.
LIFO to average cost.
All of the above
ACCT 304 Week 6
Annual Report Analysis
Your annual report analysis is due at the end of Week 6. Obtain an annual report from a corporation that is interesting
to you. Using techniques that you have learned of in the previous weeks, respond to the following questions.
1. Who are the firm’s auditors? Do they provide a clean opinion on the financial statements?
2. Have there been any subsequent events, errors and irregularities, illegal acts, or related-party transactions
that have a material effect on the financial statements?
3. Describe the trend in total assets and total liabilities for the years presented.
4. What are the company’s three largest assets for the most recent year presented?
5. What are the company’s three largest liabilities for the most recent year presented?
6. What types of stock does the company have? How many outstanding shares are there for each type of stock
for the most recent year presented?
15. 7. Does the company use the single-step income statement, multiple-step income statement, or a variation of
both?
8. Does the income statement contain any separately reported items, including discontinued operations or
extraordinary items, in any year presented? If it does, describe the event that caused the item. (Hint: There should be
a related footnote.)
9. Describe the trend in net income over the years presented.
10. Does the company have other comprehensive income? If yes, what is the nature of the transaction(s)?
11. Does the company use the indirect or direct method of the cash-flow statement?
12. What is the trend in cash from operations for the years presented?
13. What are the two largest items included in cash from investing activities?
Please see grading rubric for guidelines. Please submit the completed project by Sunday at the end of Week 6.
Submit your Course Project to the Dropbox located on the silver tab at the top of this page. For instructions on how to
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midterm
<pstyle=”font-size: 11.8181819915771px;”=””>Question 1. Question : (TCO 1) Which of the following has the
authority to set accounting standards in the United States?
FASB
IRS
SEC
AICPA
: 1
Question 2. Question : (TCO 2) SFAC No.5 focuses on:
objectives of financial reporting.
qualitative characteristics of accounting information.
Recognition and measurement concepts in accounting, including assumptions and principles.
elements of financial statements.
: 1
5 of 5
Question 3. Question : (TCO 3) Mary Parker Co. invested $15,000 in ABC Corporation and received capital stock in
exchange. Mary Parker Co.’s journal entry to record this transaction would include a:
debit to investments.
credit to retained earnings.
credit to capital stock.
debit to expense.
: 2
5 of 5
Question 4. Question : (TCO 3) The adjusting entry required to record accrued expenses includes:
a credit to cash.
a debit to an asset.
a credit to an asset.
a credit to liability.
: 2
5 of 5
Question 5. Question : (TCO 3) Temporary accounts would not include:
salaries payable.
depreciation expense.
supplies expense.
16. cost of goods sold.
: 2
5 of 5
Question 6. Question : (TCO 4) Notes payable:
is a current liability account.
usually has a debit balance.
is a non-current liability account.
cannot determine its classification without additional information.
: 2
5 of 5
Question 7. Question : (TCO 4) The current ratio is given by:
current assets divided by non-current assets.
current assets divided by total assets.
current assets divided by current liabilities.
current assets divided by total liabilities.
: 3
5 of 5
Question 8. Question : (TCO 5) The distinction between operating and non-operating income relates to:
continuity of income.
principal activities of the reporting entity.
consistency of income stream.
reliability of measurements.
: 4
5 of 5
Question 9. Question : (TCO 5) A voluntary change in accounting principle is accounted for by:
a cumulative effect on income in the year of the change.
a retrospective reporting of all comparative financial statements shown.
a prior period adjustment.
a separate line component of income.
: 4
5 of 5
Question 10. Question : (TCO 5) Cash flows from investing activities do not include:
proceeds from issuing bonds.
payment for the purchase of equipment.
proceeds from the sale of marketable securities.
cash outflows from acquiring land.
: 4
5 of 5
Question 11. Question : (TCO 5) The Maytag Corporation’s income statement includes income from continuing
operations, a loss from discontinued operations, and extraordinary items. Earnings per share information would be
provided for:
net income only.
income from continuing operations and net income only.
income from continuing operations, loss from discontinued operations, and net income only.
income from continuing operations, loss from discontinued operations, extraordinary items, and net income.
: 4
5 of 5
17. Question 12. Question : (TCO 5) In a statement of cash flows prepared under International Financial Reporting
Standards, each of the following items is typically classified as a financing cash flow except:
interest paid.
dividends paid.
proceeds from the issuance of long-term debt.
dividends received.
: 4
5 of 5
Question 13. Question : (TCO 4) Which is a shareholders’ equity account in the balance sheet?
Accumulated depreciation
Paid-in capital
Dividends payable
Marketable securities
: 3
5 of 5
Question 14. Question : (TCO 4) Which of the following groups is not among the external users for whom financial
statements are prepared?
Customers
Suppliers
Employees
All of the above are external users of financial statements.
(TCO 5) Misty Company reported the following before-tax items during the current year:
Misty’s effective tax rate is 40% and there were 1,000 shares of common stock outstanding.
What would be Misty’s income before extraordinary item(s)?
Question 2. Question : (TCO 4) Listed below are account balances (in $millions) taken from the records of Symphony
Stores. All of these are permanent accounts, except the last two that have yet to be closed. The installment
receivables are current. Symphony uses a perpetual inventory system.
What would Symphony report as total assets? Hint: Don’t forget to deduct the contra assets.
(TCO 4) Explain how management’s discussion and analysis of its operations and liquidity may be helpful to
investors.
Question 2. Question : (TCO 2) What are the key provisions of the Public Company Accounting Reform and Investor
Protection (Sarbanes-Oxley) Act of 2002?
Question 3. Question : (TCO 5) Give an example of a non-cash financing and investing activity and explain when and
how it would be reported in the financial statements.
Question 4. Question : (TCO 3) What is the purpose of the closing process?
final
acct304 final exam
Question 1.1. (TCO 1) The SEC issues accounting standards in the form of (Points : 6)
accounting research bulletins.
financial reporting releases.
financial accounting standards.
financial technical bulletins.
Question 2.2. (TCO 1) When a registrant company submits its annual filing to the SEC, it uses (Points : 6)
Form 10-A.
Form 10-K.
Form 10-Q.
Form S-1.
Question 3.3. (TCO 2) The conceptual framework’s qualitative characteristic of relevance includes (Points : 6)
18. predictive value.
verifiability.
completeness.
neutrality.
Question 4.4. (TCO 2) Enhancing qualitative characteristics of accounting information include each of the following,
except (Points : 6)
timeliness.
materiality.
comparability.
verifiability.
Question 5.5. (TCO 3) A sale on account would be recorded by (Points : 6)
debiting revenue.
crediting assets.
crediting liabilities.
debiting assets.
Question 6.6. (TCO 3) Prepayments occur when (Points : 6)
cash flow precedes expense recognition.
sales are delayed pending credit approval.
customers are unable to pay the full amount due when goods are delivered.
manufactured goods await quality control inspections.
Question 7.7. (TCO 4) An asset that is not expected to be converted to cash or consumed within 1 year or the
operating cycle is (Points : 6)
goodwill.
accounts receivable.
inventory.
supplies.
Question 8.8. (TCO 4) Which of the following is never a current liability account? (Points : 6)
Accrued payroll
Dividends payable
Prepaid rent
Subscriptions collected in advance
Question 9.9. (TCO 5) The distinction between operating and nonoperating income relates to (Points : 6)
continuity of income.
principal activities of the reporting entity.
consistency of income stream.
reliability of measurements.
Question 10.10. (TCO 5) On May 1, Foxtrot Co. agreed to sell the assets of its Footwear Division to Albanese Inc. for
$80 million. The sale was completed on December 31, 2012. The following additional facts pertain to the transaction:
The Footwear Division qualifies as a component of the entity, according to GAAP, regarding discontinued operations.
The book value of Footwear’s assets totaled $48 million on the date of the sale.
Footwear’s operating income was a pre-tax loss of $10 million in 2012.
Foxtrot’s income tax rate is 40%.
In the 2012 income statement for Foxtrot Co., it would report
(Points : 6)
income (loss) on its total operations for the year without separation.
income (loss) on its continuing operation only.
income (loss) from its continuing and discontinued operations separately.
income and gains separately from losses.
19. Question 11.11. (TCO 5) Operating cash outflows would include (Points : 6)
purchase of investments.
purchase of equipment.
payment of cash dividends.
purchases of inventory.
Question 12.12. (TCO 5) The FASB’s stated preference for reporting operating cash flows is the (Points : 6)
indirect method.
direct method.
working capital method.
all financial resources method.
Question 13.13. (TCO 5) Merchandise sold FOB shipping point indicates that (Points : 6)
the seller pays the freight.
the buyer holds title after the merchandise leaves the seller’s location.
the common carrier holds title until the merchandise is delivered.
the sale is not consummated until the merchandise reaches the point to which it is being shipped.
Question 14.14. (TCO 5) Todd Sweeney is an artist who sells his work under consignment. (He displays his work in
local barbershops, and customers buy the work there.) Sweeney recently transferred a painting to a local barbershop.
After Sweeney has transferred a painting to a barbershop, the painting (Points : 6)
should be counted in Sweeney’s inventory until the barbershop sells it.
should be counted in the barbershop’s inventory, as they now possess it.
should be counted in either Sweeney’s or the barbershop’s inventory, depending on which incurred the cost of
preparing the painting for display.
None of the above
Question 15.15. (TCO 6) Reba wishes to know how much money would be in her savings account if she deposits a
given sum in an account and leaves it there at 6% interest for 5 years. She should use a table for the (Points : 6)
future value of an ordinary annuity of 1.
future value of 1.
future value of an annuity of 1.
present value of an annuity due of 1.
Question 16.16. (TCO 6) Loan A has the same original principal, interest rate, and payment amount as Loan B.
However, Loan A is structured as an annuity due, while Loan B is structured as an ordinary annuity. The maturity
date of Loan A will be (Points : 6)
earlier than Loan B.
later than Loan B.
the same as Loan B.
indeterminate with respect to Loan B.
Question 17.17. (TCO 7) Compensating balances represent (Points : 6)
funds in a bank account that cannot be spent.
balances in a payroll checking account.
accounts that are subject to bank service charges.
accounts on which banks pay interest, such as NOW accounts.
Question 18.18. (TCO 7) Oswego Clay Pipe Company sold $46,000 of pipe to Southeast Water District #45 on April
12 of the current year with terms 1/15, n/60. Oswego uses the gross method of accounting for cash discounts. What
entry would Oswego make on April 23, assuming the customer made the correct payment on that date?
(Points : 6)
Option a
Option b
Option c
20. Option d
Question 19.19. (TCO 8) In a periodic inventory system, the cost of purchases is debited to (Points : 6)
purchases.
cost of goods sold.
inventory.
accounts payable.
Question 20.20. (TCO 8) During periods when costs are rising and inventory quantities are stable, cost of goods sold
will be (Points : 6)
higher under FIFO than LIFO.
higher under FIFO than average cost.
lower under average cost than LIFO.
lower under LIFO than FIFO.
Question 21.21. (TCO 8) In applying LCM, market cannot be (Points : 6)
less than net realizable value.
greater than the normal profit.
less than the normal profit margin.
greater than net realizable value.
Question 22.22. (TCO 8) In calculating the cost-to-retail percentage for the retail method, the retail column will not
include (Points : 6)
purchases.
purchase returns.
abnormal shortages.
freight-in.
Question 1. 1. (TCO 8) Fulbright Corp. uses the periodic inventory system. During its first year of operation, Fulbright
made the following purchases (listed in chronological order of acquisition):
40 units at $100
70 units at $80
170 units at $60
Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year. What is the ending inventory
using the average cost method (rounded)? (Points : 15)
Question 2. 2. (TCO 5) Describe what is meant by unearned revenues, and give two examples. (Points : 28)
Question 3. 3. (TCO 7) Briefly compare and contrast the two allowance estimation approaches to estimating bad debt
expense. In your answer, indicate which approach, if either, is superior and explain your reasoning. (Points : 25)
1. (TCO 8) Briefly explain when there would be a tax benefit from electing LIFO rather than FIFO. (Points : 25)
Question 2. 2. (TCO 4) You are the independent accountant assigned to the audit of Neophyte Company. The
company’s accountant, a graduate of Rival State University, has prepared financial statements that contained the
following questionable items:
1. The balance sheet reports land at $100,000. Included in this amount is a piece of property held for
speculation at a cost of $30,000.
2. Current liabilities include $50,000 for long-term debt that comes due in 3 months. The company has
received a suitable firm commitment to refinance the debt for 5 years and intends to do so.
3. Long-term Investments (non-current) in marketable securities include $20,000 in short-term, high-grade
commercial paper.
Please discuss how the above items should be correctly classified and accounted for. (Points : 25)