ACC 499 Education Organization- tutorialrank.com

1. ACC 499 Final Exam Part 1 (2 Sets) For more course tutorials visit www.tutorialrank.com This Tutorial contains 2 Sets of Final (All Question Listed Below) ACC 499 Final Exam Part 1 (Set 1) ACC 499 - Final Exam Part 1 (Chapters 5-7) Question 1 Vested benefits are Question 2 According to current GAAP, termination benefits paid to an employee should be Question 3 The projected benefit obligation is equal to the Question 4 Which of the following is not a component of the net periodic pension expense to be reported on a company's income statement?

2. Question 5 Unrecognized prior service cost would be reported on the balance sheet and affect the amount(s) reported for Question 6 If an employer were to account for a defined benefit pension plan on the cash basis, it would be a violation of the Question 7 Question 23 Which of the following items would not be used in the calculation of the cost-to-retail ratio if the FIFO retail inventory method were used to determine the ending inventory? Question 24 The most common approach to implementing the lower of cost or market rule for inventory valuation is to apply it Question 25 When applying lower of cost or market, market value ============================================== ACC 499 Final Exam Part 2 (4 Sets)

3. For more course tutorials visit www.tutorialrank.com This Tutorial contains 4 Sets (All Question Listed Below) Hot, Inc.'s primary competitor is Cold, Inc. When comparing relative deferred tax asset and liability accounts with Cold, which of the following should Hot do? Question 22 Nocera, Inc. earns book net income before tax of $600,000 in 2010. Nocera acquires a depreciable asset in 2010 and first year tax depreciation exceeds book depreciation by $120,000. Nocera has no other temporary or permanent differences. Assuming the U.S. tax rate is 35%, what is Nocera's total income tax expense reported on its financial statements for 2010? Question 23 Which of the following items are not included in the income tax note for a publicly traded company? Question 24 Which of the following taxes are included in the total income tax expense of a corporation reported on its Federal tax return? Question 25

4. How are deferred tax liabilities and assets categorized on the balance sheet? ============================================== ACC 499 Midterm Exam Part 1(4 Sets) For more course tutorials visit www.tutorialrank.com This Tutorial contains 4 Sets (All Question Listed below) ACC 499 Midterm Part 1 (Set 1) ACC 499 Midterm Part 1 Question 1 Which of the following is not a required disclosure by a lessee of an operating lease? Question 2

5. Which of the following facts would require a lessee to classify a lease as a sually Question 24 Which of the following types of corporations is owned or operated by a government unit? Question 25 The corporate form of organization is important to the U.S. economy because ============================================== ACC 499 Midterm Exam Part 2(3 Sets) For more course tutorials visit www.tutorialrank.com This Tutorial contains 3 Sets (All Question Listed Below)

6. ACC 499 Midterm Part 2 (Set 1) Question 1 Accountants sometimes refer to the equity method as a(n) Question 2 When an investor owns less than a majority of the voting stock of another corporation, the accountant must judge when the investor can exert significant influence. For the sake of uniformity, U.S. GAAP and IFRS presume that significant influence exists at ownership of _____ or more of the voting stock of the investee. (Assume that management does not have a contractual or other basis to demonstrate that influence.) Question 3 U.S. GAAP view investments of between 20 and 50 percent of the voting stock of another company (unless evidence indicates that significant influence cannot be exercised) as Question 4 When an investor uses the equity method to account for investments in common stock, cash dividends received by the investor from the investee should be recorded as Which of the following is not included in financial statements? ==============================================

7. ACC 499 Week 1 DQ 1 Operating and Capital Leases and DQ 2 Leasing Restatements For more course tutorials visit www.tutorialrank.com Week 1 Discussion 1 Operating and Capital Leases" Please respond to the following: From the e-Activity, analyze the results of the proposed changes to lease accounting on operating and capital leases. Identifying how the right-of- use model will impact financial reporting, indicate how companies are likely to manage the change in reporting. Discuss recommendations you would make to chief financial officers (CFOs) of retailers, service providers, and other businesses that lease several locations or have substantial leases of real estate or other assets. Indicate the pros and cons of each approach. Week 1 Discussion 2 "Leasing Restatements in the Restaurant Industry" Please respond to the following: From the case study, create an argument for the use of principles-based accounting for leases over rules-based accounting under GAAP, based

8. on the financial statement restatements in the restaurant industry. Provide support for your argument. Assess the materiality of the errors, direction provided by the Securities and Exchange Commission (SEC), and the Sarbanes-Oxley Act (SOX) on the decision by management to restate the financial statements. Indicate the likely impact to stakeholders when financial statements are restated. ============================================== ACC 499 Week 2 DQ 1 Equity-Based Compensation and DQ 2 Harley-Davidson(B) 2010 For more course tutorials visit www.tutorialrank.com Week 2 Discussion 1 "Equity-Based Compensation" Please respond to the following: From the e-Activity, discuss the impact of adopting IFRS reporting on equity-based accounting for financial reporting and tax payments. Then, recommend a strategy for companies adopting IFRS to minimize the impact of the accounting treatment.

9. Examine the potential results of measuring the fair market value of the equity-based compensation at the grant date on financial statements under GAAP only. Provide recommendations you would make to minimize any distortions in fair market value Week 2 Discussion 2 "Harley-Davidson(B) 2010" Please respond to the following: From the case study, examine the significant differences between the Harley-Davidson 2008 securitization and the 2009 securitization and the manner in which these differences are indicators of the financial health of the company. Examine the impact of the sub-prime mortgage on the securitization of Harley- Davidson. Analyze the debt-to-equity ratio of Harley-Davidson for 2008 and 2009, and discuss the impact these ratios had on the market value of the company. Propose at least two alternatives to additional securitization to finance current receivables, and provide a justification for each. ============================================== ACC 499 Week 3 Assignment 1 Amazon.com Business Combinations and Financial Results Analysis (2 Papers) For more course tutorials visit

10. www.tutorialrank.com This Tutorial contains 2 Different Papers ACC 499 Week 3 Assignment 1 – Amazon.com Business Combinations and Financial Results Analysis Assignment 1: Amazon.com Business Combinations and Financial Results Analysis Search the Internet for acquisitions and equity investments made by Amazon.com during the last five (5) years. Review the 10-K of Amazon.com located at http://www.sec.gov/cgi-bin/browse- edgar?company=&match=&CIK=AMZN&filenum=&State &Country=&SIC=&owner=exclude&Find=Find+Companies&action=g etcompany. Write a three to four (3-4) page paper in which you: 1. Examine how at least three (3) growth strategy alternatives utilized by Amazon.com in the global and domestic retail markets influenced profitability, and indicate if the strategies were successful. 2. Assess the financial value of the acquisitions and investments made by Amazon.com, and the influence of the acquisitions and investments on profitability during the accounting period. 3. Analyze the effect of the equity investments and impairments resulting from the acquisitions and investments by Amazon.com on the

11. financial statements, and indicate whether or not the strategy was a creatable one. Provide support for your rationale. 4. Create an argument that growth in the European market can have a significant impact on current earnings and profit for Amazon.com. Provide support for your rationale. 5. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources. ============================================== ACC 499 Week 3 DQ 1 Global Mergers and Acquisitions and DQ 2 Sirius XM Radio For more course tutorials visit www.tutorialrank.com Week 3 Discussion 1 "Global Mergers and Acquisitions" Please respond to the following: From the e-Activity, contrast the impairment of goodwill on the financial statements of the entity reporting under international financial reporting standards (IFRS) that you researched with the

12. impairment of goodwill on the financial statements of the same entity reporting under generally accepted accounting principles (GAAP). Indicate how stakeholders in the company are likely to react to the impairment. Provide support for your rationale. Examine the relationship between acquisition costs of the entity that you researched and the goodwill impairment charges related to the acquired entity. Indicate the most likely impact to the business. Week 3 Discussion 2 From the case study, assess the major problems Sirius and XM radio faced during the acquisition of XM by Sirius as compared to the average acquisition during this period. Describe the key benefits of the acquisition to Sirius and XM."Sirius XM Radio" Please respond to the following: Analyze the value of the Howard Stern’s show to Sirius XM Radio. Given your prediction of his continued success, provide a recommendation on contract extension for Stern based on his contribution to the financial stability of the company. ============================================== ACC 499 Week 4 DQ 1 Fair Value Accounting Under IFRS and DQ 2 Asset Impairments For more course tutorials visit

13. www.tutorialrank.com Week 4 Discussion 1 "Fair Value Accounting Under IFRS" Please respond to the following: From the e-Activity, in terms of which takes precedence and provides the most information, evaluate the potential interaction of IFRS13 fair value measurement with other IFRS fair value measurement standards. Create an argument for the increased disclosure requirements under IFRS 13 as compared to other IFRS standards addressing fair value measurement. Provide support for your argument. Examine the main problems that an entity may encounter, and determine the highest and best use for fair value measurements under IFRS 13. Identify and provide alternative recommendations that can be used for determining fair value of assets when active markets are not available. Week 4 Discussion 2 "Asset Impairments: The Recession of 2008-2009" Please respond to the following: From the case study, compare the disclosure notes provided in Nestle, Swatch Group, and Royal Bank of Scotland with the disclosure notes of News Corp and CBS Corporation. Explain which disclosure notes are more informative to the stakeholders in the evaluation of the financial statements.

14. Contrast the difference between the impairment testing of goodwill and the impairment testing requirements for other assets. Examine the purpose of the differences identified in testing impairment of goodwill and other assets. ============================================== ACC 499 Week 5 DQ 1 Accounting for Pension Plans and DQ 2 General Motors For more course tutorials visit www.tutorialrank.com Week 5 Discussion 1 "Accounting for Pension Plans" Please respond to the following: From the e-Activity, create an argument for the use of the mark-to- market accounting method for pension accounting. Evaluate the impact of earnings volatility on financial reporting using mark-to- market accounting, and indicate whether or not you believe this is a fair representation of pension obligations. Defend the current GAAP rules for pension accounting reporting on the balance sheet and the income statement. Recommend a

15. change you would make to the current pension accounting to more accurately reflect the future obligations of a company. Week 5 Discussion 2 "General Motors" Please respond to the following: From the case study, assess the benefits and detriments of the U.S. Government-proposed bankruptcy plan that conserved General Motors’ liability to the United Auto Workers (UAW) pension and retiree health care fund. Indicate your agreement or disagreement with this approach. Provide support for your rationale. Examine the major advantages of transferring the post-retirement benefits to the UAW by General Motors. Indicate the likely impact to the company and its employees. ============================================== ACC 499 Week 6 DQ 1 Cyberattacks in Public Companies and DQ 2 Koss Corporation For more course tutorials visit www.tutorialrank.com Week 6 Discussion 1

16. "Cyberattacks in Public Companies" Please respond to the following: From the e-Activity, analyze the effects of the SEC‘s data breach disclosure requirement on financial reporting, based on the current language of the requirement. Recommend a change to the disclosure requirements to strengthen public company disclosures of cyberattacks. Provide support for your rationale. Examine the impact of cyberattacks on potential investors in a public company. As an auditor, provide your recommendations for including the potential of a cyberattack in the 10-K, as opposed to an actual attack. Provide support for your recommendation. Week 6 Discussion 2 "Koss Corporation" Please respond to the following: From the case study, contrast the responsibilities of the independent auditor and board of directors with the responsibilities of Koss management for the embezzlement. Indicate the party that was ultimately responsible for the embezzlement. Provide support for your rationale. Recommend two controls that you would establish at Koss Corporation over electronic fund transfers. Indicate how each of the recommended controls would minimize the exposure to fraud in the future. Provide support for your recommendations. ==============================================

17. ACC 499 WEEK 7 ASSIGNMENT 2 LITIGATION, CENSURES, AND FINES (2 Papers) For more course tutorials visit www.tutorialrank.com This Tutorial contains 2 Different Papers ACC 499 WEEK 7 ASSIGNMENT 2 LITIGATION, CENSURES, AND FINES Assignment 2: Litigation, Censures, and Fines Research the Internet for recent litigation, censures, and fines involving national public accounting firms. Examples of litigation cases against national public accounting firms include fines by regulatory authorities and censures by professional societies. Write a three to four (3-4) page paper in which you: Analyze the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Provide support for your rationale. Examine the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation or fine for the accounting firm.

18. Evaluate the primary ethical standards of the accounting organization’s leadership and values which contributed to approval of the accounting issues and thus created the litigation or fines in question. Identify specific conduct violations committed by the organization and accounting firm in question. Next, create an argument supporting the actions against the organization and accounting firm, based on the current professional code of conduct for independent auditors and management accountants. Make a recommendation as to how regulators and professional societies may prevent this type of behavior in question for the future. Provide support for your rationale. Use two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Analyze business situations to determine the appropriateness of decision making in terms of professional standards and ethics.

19. Use technology and information resources to research issues in accounting. Write clearly and concisely about accounting using proper writing mechanics. ============================================== ACC 499 Week 7 DQ 1 Channel Stuffing and DQ 2 Carton Medical Devices For more course tutorials visit www.tutorialrank.com Week 7 Discussion 1 "Channel Stuffing" Please respond to the following: From the e-Activity, evaluate the requirements under GAAP related to channel stuffing practices on financial statements. Recommend key additional requirements, and justify those requirements. From the e-Activity, examine the impact of channel stuffing on financial reports used for internal decision making. Create a

20. scenario involving a faulty internal decision based on channel stuffing. Week 7 Discussion 2 "Carton Medical Devices"Please respond to the following: From the case study, determine how the standard cost system in Carton Medical Devices can be used for product costing and inventory valuation. Indicate the efficiencies that can be gained from the system. Examine the use of Carton‘s standard cost system in product costing for cost analysis, and indicate the intelligence that management is likely to gain using this approach. ============================================== ACC 499 Week 8 DQ 1 AICPA Code of Professional Conduct Violations For more course tutorials visit www.tutorialrank.com Week 8 Discussion 1

21. "AICPA Code of Professional Conduct Violations" Please respond to the following: From the e-Activity, discuss one violation of the AICPA Code of Professional Conduct leading to a disciplinary action. Explore the risks that relationships or circumstances played in the failure of the CPA to comply with the rules of the AICPA Code of Professional Conduct leading up to the violation. Examine current safeguards available to reduce the risks of the violation you identified. Discuss the specific safeguard you would recommend to reduce risks if confronted with a similar situation. ============================================== ACC 499 Week 9 DQ 1 Internal Controls and DQ 2 Apple, Inc For more course tutorials visit www.tutorialrank.com Week 9 Discussion 1 "Internal Controls" Please respond to the following:

22. From the e-Activity, examine the importance of the audit committee oversight related to the quality of the internal controls of an organization. Analyze the audit committee’s responsibilities regarding risk assessment and internal control monitoring. Indicate whether or not the audit committee is the best to perform the function. Contrast the opinion provided by the independent auditor concerning management’s assessment of internal controls over the financial reporting system with the audit opinion on the financial statements in general. Argue for providing both a qualified opinion over the financial reporting system and an unqualified opinion on the financial statements. Week 9 Discussion 2 "Apple, Inc." Please respond to the following: From the case study, in 2009, the FASB issued a ruling related to income recognition from multiple element sales involving software to various stakeholder groups. Evaluate the impact of Apple’s retrospective restatement of its financial statements resulting from FASB’s ruling. Provide support for your rationale. From the case study, examine the influence of both Apple’s reported deferred revenue and the lobbying by Apple executives on FASB’s ruling. Indicate your agreement or disagreement with Apple’s attempt to influence FASB’s ruling. ==============================================

23. ACC 499 Week 10 Assignment 3 Capstone Research Project (2 Papers) For more course tutorials visit www.tutorialrank.com This Tutorial contains 2 Different Papers ACC 499 Week 10 Assignment 3: Capstone Research Project Assume you are the partner in an accounting firm hired to perform the audit on a fortune 1000 company. Assume also that the initial public offering (IPO) of the company was approximately five (5) years ago and the company is concerned that, in less than five (5) years after the IPO, a restatement may be necessary. During your initial evaluation of the client, you discover the following information: The client is currently undergoing a three (3) year income tax examination by the Internal Revenue Service (IRS). A significant issue involved in the IRS audit encompasses inventory write-downs on the tax returns that are not included in the financial statements. Because of the concealment of the transaction, the IRS is labeling the treatment of the write-down as fraud.

24. The company has a share-based compensation plan for top-level executives consisting of stock options. The value of the options exercised during the year was not expensed or disclosed in the financial statements. The company has several operating and capital leases in place, and the CFO is considering leasing a substantial portion of the assets for future use. The current leases in place are arranged using special purpose entities (SPEs) and operating leases. The company seeks to acquire a global partner, which will require IFRS reporting. The company received correspondence from the Securities and Exchange Commission (SEC) requesting additional supplemental information regarding the financial statements submitted with the IPO. Write an eight to ten (8-10) page paper in which you: Evaluate any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Prepare a recommendation to the CFO, evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation, include essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance. Examine the negative results on stakeholders and the financial statements of an IRS audit which generates additional tax and penalties or subsequent audits. Assume that the subsequent audit and / or additional tax and penalties result from the taxpayer’s use of an inventory reserve account, applying a 10 percent reduction to inventory over three (3) years.

25. Discuss the applicable federal tax laws, regulations, rulings, and court cases related to the inventory write-downs, and explain the specific relevance of each to the write-down. Research the current generally accepted accounting principles (GAAP) regarding stock option accounting. Evaluate the current treatment of the company’s share-based compensation plan based on GAAP reporting. Contrast the financial benefits and risks of the share-based compensation stock option plan with the financial benefits and risks of a share-based stock-appreciation rights plan (SARS). Recommend to the CFO which plan the company should use, and provide the correct accounting treatment for each. Research the reporting requirements for lease reporting under GAAP and International Financial Reporting Standards (IFRS). Based on your research, create a proposal for future lease transactions to the CFO. Within the proposal, discuss the use of off-the-balance sheet financing arrangements, capital leases, and operating leases, and indicate the related business and financial risks of each. Create an argument for or against a single set of international accounting standards related to lease accounting based on the global market and cross border leases of assets. Examine the benefits and risks of your chosen position. Examine the major implications of SAS 99 based on the factors you discovered during the initial evaluation of the company. Provide support for your rationale. Analyze the potential for a material misstatement in the financial statements based on the issues identified in your initial evaluation. Make a recommendation to the CFO for the issuance of restated financial statement restatement. Identify at least three (3) significant issues that can result from the failure to issue restated financial statements.

26. Examine the economic effect of restatement of the financial statements on investors, employees, customers, and creditors. Use five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Analyze accounting situations to apply the proper accounting rules and make recommendations to ensure compliance with generally accepted accounting principles. Analyze business situations to determine the appropriateness of decision making in terms of professional standards and ethics Use technology and information resources to research issues in accounting. Analyze business situations and apply advanced federal taxation concepts.

27. Write clearly and concisely about accounting using proper writing mechanics. ============================================== ACC 499 Week 10 DQ 1 Taxes and DQ 2 Bethlehem Steel Corporation's For more course tutorials visit www.tutorialrank.com Week 10 Discussion 1 "Taxes" Please respond to the following: From the e-Activity, create a scenario reflecting the differences between GAAP and international accounting standards for taxes. Determine which reporting standard best reflects financial reporting for taxes, and support your position. Examine the impact of FIN 48 (Accounting for the Uncertainty in income taxes) on GAAP reporting. Identify the benefits of the requirements on financial reporting. Assess whether FIN 48 was necessary, and support your position.

28. Week 10 Discussion 2 "Bethlehem Steel Corporation's Deferred Taxes"Please respond to the following: From the case study, evaluate Bethlehem Steel’s valuation allowance in relation to the company’s ability to use deferred tax benefits in the future. Justify the position taken by Bethlehem Steel in the financial statements. From the case study, clarify the temporary differences identified in the tax footnote to Bethlehem Steel’s 2000 10-K due to employee benefits, depreciable assets, and the tax loss carried forward. Indicate what a user of the financial statement information can glean from reading the tax footnote to Bethlehem Steel’s 2000 10- K. ============================================== ACC 499 Week 11 DQ 1 Course Wrap-up and DQ 2 Application For more course tutorials visit www.tutorialrank.com Week 11 Discussion 1

29. "Course Wrap-Up" Please respond to the following: Discuss at least two topics covered in this course that expanded your knowledge of the topic. Explain how you plan to use this additional knowledge. Week 11 Discussion 2 "Application" Please respond to the following: Discuss how the concepts from this course can be applied to your current or future accounting position. Discuss whether or not your feel prepared to enter the profession of Accounting. Identify what could help you further. ==============================================