ACC 541 Tutorials / acc541dotcom

1. ACC 541 Tutorials / acc541dotcom

2. ACC 541 Tutorials ACC 541 Entire Course ACC 541 Week 1 DQ 1 • ACC 541 Week 1 Individual Assignment • ACC 541 Week 1 DQ 1 • ACC 541 Week 1 DQ 2 • ACC 541 Week 2 Individual Assignment • ACC 541 Week 2 DQ 1 • ACC 541 Week 2 DQ 2 • ACC 541 Week 3 Individual Assignment • ACC 541 Week 3 DQ 1 • ACC 541 Week 3 DQ 2 • ACC 541 Week 4 Individual Assignment • What is the importance of the mission of the FASB?

3. ACC 541 Tutorials ACC 541 Week 1 DQ 2 ACC 541 Week 1 Individual Assignment Accounting Standards Boards Paper • Under current GAAP, goodwill is recorded when purchased. • Write a 1,050- to 1,400-word paper describing the relationship between the IASB and the FASB. Include the following in your paper: • • A brief history of the relationship between the two boards and the IASB equivalents of the FASB original pronouncements • • An explanation of how the MSA program prepares the student for a professional life within the accounting vocation

4. ACC 541 Tutorials ACC 541 Week 2 DQ 1 ACC 541 Week 2 DQ 2 • What are the four criteria used for determining if a lease is to be treated as a capital lease? (This question can be expanded to discuss the income statement and balance sheet implications of both a capital lease and an operating lease.) • Under current GAAP, goodwill is recorded when purchased

5. ACC 541 Tutorials ACC 541 Week 2 Individual Assignment Client Understanding Paper ACC 541 Week 3 DQ 1 • Your client is not clear about why you are asking for information on the following topics: • · Adjusting lower cost of market inventory on valuation • · Capitalizing interest on building construction • · Recording gain or loss on asset disposal • · Adjusting goodwill for impairment • Describe how an operating lease would be accounted for by the lessee both at the inception of the lease and during the first year of the lease, assuming the lessee makes equal monthly payments at the beginning of each month of the lease. Describe the change in accounting, if any, when rental payments are not made on a straight-line basis.

6. ACC 541 Tutorials ACC 541 Week 3 DQ 2 ACC 541 Week 3 Individual Assignment Response to Client Request I • The second lease contains a bargain purchase option; the lease term is equal to 50 percent of the estimated economic life of the machine. • How should Von classify each of the two leases? Why? • Write a 700- to 1,050-word memo addressed to your supervisor that summarizes your FASB research results. Keep the memo brief while exploring the issues. Remember that both the client and the supervisor have limited time, and you want to make a good impression. Recommend an approach that the client can use to evaluate and capitalize on this opportunity.

7. ACC 541 Tutorials ACC 541 Week 4 DQ 1 ACC 541 Week 4 DQ 2 • Discuss contingencies and how they are reported on financial statements. What conditions must be met before a contingency can be charged against income? • The two basic requirements for the accrual of a loss contingency are supported by several basic concepts of accounting. Four of these concepts are periodicity (time periods), measurement, objectivity, and relevance. • Discuss how the two basic requirements for accrual of a loss contingency relate to the four concepts listed above.

8. ACC 541 Tutorials ACC 541 Week 4 Individual Assignment Response to Client Request II ACC 541 Week 5 DQ 1 • Write a 700- to 1,050-word memo as a team that is brief but fully explores the issues. Include the following in your memo: • • Describe whether the client’s debt is forgiven if the mortgage is rewritten, or if their mortgage will be written if they file Chapter 11. How will the reporting on the financial statement be determined? • Explain operating segments of an enterprise.

9. ACC 541 Tutorials ACC 541 Week 5 DQ 2 ACC 541 Week 5 Individual Assignment Reporting Paper • The concept of adequate disclosure continues to be one of the most important issues facing accountants, and disclosure may take various forms. • Discuss the various forms of disclosure available in published financial statements. • Write a 700- to 1,050-word executive memo that explains the required reporting for defined contribution, defined benefit, and other postretirement plans. Also include an explanation of what must happen for the two segments to be eliminated. (You do not need to know details about the segments to answer this.)

10. ACC 541 Tutorials ACC 541 Week 6 DQ 1 ACC 541 Week 6 DQ 2 • A corporation may use stock splits and stock dividends to change the number of shares of its stock outstanding. • From an accounting viewpoint, explain how the stock split effected in the form of a dividend differs from an ordinary stock dividend. • What type of accounting or which area of accounting are you planning to enter as your profession? Why?

11. ACC 541 Tutorials ACC 541 Week 6 Team Assignment Auditing a Publicly Traded Company • Write a 700- to 1,050-word executive memo as a team that includes a description of what you will look for to see if the client is consistent with the generally accepted accounting principles (GAAP). Pay particular attention to accounting treatment of share-based payment and accounting consolidation theory as it relates to special purpose entities. Keep the memo as brief as possible while fully exploring the issues.

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