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ACC 290 Effective Communication / snaptutorial.com

For more classes visit<br>www.snaptutorial.com<br><br>Question 1<br>The best definition of assets is the<br> <br>collections of resources belonging to the company and the claims on these resources.<br>cash owned by the company.<br>owners’ investment in the business.<br>resources belonging to a company that have future benefit to the company.<br> <br> <br>Question 2<br>Which of the following is not a liability?<br> <br> <br>Accounts Payable<br>Accounts Receivable<br>Interest Payable<br>Unearned Service Revenue<br>

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ACC 290 Effective Communication / snaptutorial.com

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  1. ACC 290 Effective Communication / snaptutorial.com

  2. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Final Exam Guide (New, 2018, 100% Score) • For more classes visit • www.snaptutorial.com • Question 1 • The best definition of assets is the • collections of resources belonging to the company and the claims on these resources. • cash owned by the company.

  3. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 1 Assignment Preparing an Income Statement Retained Earnings Statement and Balance Sheet • For more classes visit • www.snaptutorial.com • Purpose of Assignment • The purpose of this assignment is to help students become familiar with the presentation of the income statement and the retained earnings statement, including how parts of the financial statement is evaluated to determine the operational success of the business.

  4. ACC 290 Effective Communication / snaptutorial.com ACC 290 Week 1 Discussion Question 1 For more classes visit www.snaptutorial.com ACC 290 Week One - DQ #1 What are the four basic financial statements? What is the primary purpose of each of the four basic financial statements? In your opinion, which financial statement is the most important? Explain why. How would the

  5. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 1 Discussion Question 2 • For more classes visit • www.snaptutorial.com • What are debits and credits? How are debits and credits used to record business transactions? Why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?

  6. ACC 290 Effective Communication / snaptutorial.com ACC 290 Week 1 Individual Assignment Financial Statements Paper For more classes visit www.snaptutorial.com Individual - Financial Statements Paper - Prepare a 700 -1,050 word paper in which you identify the four basic financial statements. Describe the purpose of each of the four financial statements. Discuss how the financial statements would be useful

  7. ACC 290 Effective Communication / snaptutorial.com ACC 290 Week 1 Practice Quiz For more classes visit www.snaptutorial.com Question 1              Current assets are expected to be converted to cash or consumed within the next year or the normal operating cycle, whichever is longer. Current assets are economic resources that are expected to be converted to cash or used up by the business within

  8. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 1 Vocabulary Activity • For more classes visit • www.snaptutorial.com • WileyPLUS Assignment: Week 1 Vocabulary Activity • Resource: WileyPLUS • Complete the following Week 1 Assignment in WileyPLUS:

  9. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 1 WileyPlus Assignment DI1-3, E1-3,E1-4, E2-4, IFRS2-4 • For more classes visit • www.snaptutorial.com • WileyPLUS Assignment: Week 1 Assignment • Resource: WileyPLUS • Complete the following Week 1 Assignment in WileyPLUS: • • DO IT! 1-3

  10. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 Chapter 1,2,3 Orion WileyPlus Proficiency and Practice Quiz • For more classes visit • www.snaptutorial.com • ACC 290 Chapter 1 Orion WileyPlus Build your Proficiency • Q 1.1:  What is the primary purpose of the statement of cash flows?    • Q 1.2:  Which financial statement summarizes the financial position of a company?

  11. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 Charter for Collaborative Learning Activities • For more classes visit • www.snaptutorial.com • Resources: Week 2 Learning Team Collaborative Discussion and the Learning Team Charter for Collaborative Learning Activities • Write a 150- to 200-word individual response to the following: • • Consider the multiple definitions of collaboration.

  12. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 Discussion Question 1 • For more classes visit • www.snaptutorial.com • What is the revenue recognition principle? What is the expense recognition principle? Why are they important to financial reporting? • What are adjusting entries and why are they necessary?

  13. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 Discussion Question 2 • For more classes visit • www.snaptutorial.com • What accounts are subject to adjusting journal entries and why? • How would you explain the purpose of the adjusted trial balance?

  14. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 E3-1 (New) • For more classes visit • www.snaptutorial.com • The balance sheet makes sure that the finances are in balance. Below is a list of Thyme Advertising Company, Inc. transactions. Each of these is affected differently. • • Issued common stock to investors in exchange for cash received from investors.

  15. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 LT Reflection Summary (New) • For more classes visit • www.snaptutorial.com • Discuss the objectives for ACC 290 Week Two. • What do you think will be the most important of the skills learned when you are in an accounting position? • Differentiate between accrual basis and cash basis of accounting.

  16. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 LT Reflection Summary • For more classes visit • www.snaptutorial.com • Discuss the objectives for ACC 290 Week Two. • What do you think will be the most important of the skills learned when you are in an accounting position? • Differentiate between accrual basis and cash basis of accounting.

  17. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 Practice Quiz • For more classes visit • www.snaptutorial.com • Question 1 • Expenses decrease retained earnings. • Question 2 • During 2014, Gibson Company assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders’ equity • Question 3

  18. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 Vocabulary Activity • For more classes visit • www.snaptutorial.com • WileyPLUS Assignment: Week 2 Vocabulary Activity • Resource: WileyPLUS • Complete the following Week 2 Assignment in WileyPLUS:

  19. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 2 WileyPlus Assignment BYP2-2, IFRS2-6, E3-4, E3-8, BYP 3-2, IFRS 3-2, P3-5, P3-6 • For more classes visit • www.snaptutorial.com • WileyPLUS Assignment: Week 2 Assignment • Resource: WileyPLUS • Complete the following Week 2 Assignment in WileyPLUS:

  20. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 3 Chapter 4,5 Orion WileyPlus Proficiency and Practice Quiz • For more classes visit • www.snaptutorial.com • ACC 290 Week 3 Chapter 4,5 Orion WileyPlus Proficiency and Practice Quiz • ACC 290 Chapter 4 Orion WileyPlus Build your Proficiency

  21. ACC 290 Effective Communication / snaptutorial.com ACC 290 Week 3 Discussion Question 1 For more classes visit www.snaptutorial.com What are the steps in completing the accounting cycle? How do the different steps affect the financial statements? What is the effect on the financial statements of missing a step when completing the accounting cycle? What are

  22. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 3 Discussion Question 2 • For more classes visit • www.snaptutorial.com • What are the pros and cons of using reversing entries? Why are reversing entries optional? What is the main purpose of a financial statement worksheet and its benefits? How has automation aided the preparation, accuracy, and use of the financial statement worksheet?

  23. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 3 Practice Quiz • For more classes visit • www.snaptutorial.com • Question 1 • The revenue recognition principle dictates that revenue is recognized in the period in which the cash is received. • Question 2

  24. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 3 Problem 5-5A (Simon Company) • For more classes visit • www.snaptutorial.com • Purpose of Assignment • The purpose of this assignment is to help you become familiar with the parts of the multiple‐step income statement. • Assignment Steps • Resources: Financial Accounting: Tools for Business Decision Making

  25. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 3 Vocabulary Activity • For more classes visit • www.snaptutorial.com • WileyPLUS Assignment: Week 3 Practice Quiz • Resource: WileyPLUS • Complete the following Week 3 Assignment in WileyPLUS: • • Chapter 4 Practice Quiz

  26. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 3 WileyPlus Assignment BE4-1, P4-2A, P4-3A, BYP4-1, IFRS PQ-1, PQ-2, PQ-3, PQ-4 • For more classes visit • www.snaptutorial.com • Assignment: Week 3 Assignment • Complete the following Week 3 Assignment • • Brief Exercise 4-1

  27. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 4 Chapter 6 Orion WileyPlus Proficiency and Practice Quiz • For more classes visit • www.snaptutorial.com • ACC 290 Chapter 6 Orion WileyPlus Build your Proficiency • Q 6.1: Where is inventory reported? • Q 6.2: ________ are items that will eventually be used in production • Q 6.3: How is inventory ready for sale classified in a manufacturing company?

  28. ACC 290 Effective Communication / snaptutorial.com ACC 290 Week 4 Discussion Question 1 For more classes visit www.snaptutorial.com How would you calculate cost of goods sold? What items make up cost of goods sold? How does beginning and ending inventory affect cost of goods sold? What are the journal entries a merchandising organization would use

  29. ACC 290 Effective Communication / snaptutorial.com ACC 290 Week 4 Discussion Question 2 For more classes visit www.snaptutorial.com What are the three different inventory cost flow assumptions commonly used in commerce today and allowed by generally accepted accounting principles? How does a company determine what cost flow assumption they should use? How does first in, first out cost flow assumption work? When it is most appropriate to use? How

  30. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 4 Evaluate The Inventory Section Of Two companies Using Basic Comparative Analysis • For more classes visit • www.snaptutorial.com • The purpose of this assignment is to evaluate the inventory section of two companies using basic comparative analysis, and to interpret the data to gain insight about the company's inventory management. • Assignment Steps 

  31. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 4 Practice Quiz • For more classes visit • www.snaptutorial.com • Question 1 • A service company's operating cycle is ordinarily shorter than that of a merchandising company. • The operating cycle of a merchandising company is ordinarily shorter than that of a service company.

  32. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 4 Vocabulary Activity • For more classes visit • www.snaptutorial.com • WileyPLUS Assignment: Week 4 Vocabulary Activity • Resource: WileyPLUS • Complete the following Week 4 Assignment in WileyPLUS: • • Chapter 5 Crossword Puzzle 1

  33. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 4 Wileyplus Assignment P4-8A, BYP5-1, BYP5-2, BE5-1, BE5-2, IFRS5-2, IFRS5-4, PQ-1, PQ-2, PQ-3 • For more classes visit • www.snaptutorial.com • Week 4 Assignment • Complete the following Week 4 Assignment in • Problem 4-8A • Brief Exercise 5-1

  34. ACC 290 Effective Communication / snaptutorial.com • ACC 290 Week 4Evaluate The Inventory Section Of Two companies Using Basic Comparative Analysis • For more classes visit • www.snaptutorial.com • The purpose of this assignment is to evaluate the inventory section of two companies using basic comparative analysis, and to interpret the data to gain insight about the company's inventory management. • Assignment Steps

  35. ACC 290 Effective Communication / snaptutorial.com ACC 290 Week 5 Discussion Question 1 For more classes visit www.snaptutorial.com What is the control environment? How does the control environment affect a company’s internal controls? What are the negative and positive elements of a control environment? What are two examples of strong and weak

  36. ACC 290 Effective Communication / snaptutorial.com ACC 290 Week 5 IFRS Paper For more classes visit www.snaptutorial.com IFRS 2-1: In what ways does the format of a statement of financial of position under IFRS often differ from a balance sheet presented under GAAP? IFRS 2-2: Do the IFRS and GAAP conceptual frameworks differ in terms of the objective of financial reporting?

  37. ACC 290 Effective Communication / snaptutorial.com ACC 290 Week 5 Learning Team Reflection Summary For more classes visit www.snaptutorial.com Reflection and Financial Reporting Problem Part II. Discuss the objectives for ACC 290 Week Four.  In the wake of accounting scandals over the past several years, how has the Sarbanes-Oxley Act (SOX) of 2002 affected the practice of accounting? What is the role of internal

  38. ACC 290 Effective Communication / snaptutorial.com

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