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ACCT 504 Complete Week Discussion Latest-DeVry
ACCT 504 Week 1 Discussion Latest-DeVry
Financial Reporting Environment, Financial Statements, and Ratios (graded)
What is the purpose of Accounting? Who are the users of accounting information?
ACCT 504 Week 2 Discussion Latest-DeVry
Accounting Equation, Accounting Cycle, and Accrual Accounting (graded)
In this area, we will discuss the significance of the accounting equation, the rules of debit and credit, and
the steps in the accounting cycle. We will talk about recording of transactions, normal balances, and the
creation of the trial balance.
Let’s begin by asking this question: What is the role of the accounting equation in the analysis of business
ACCT 504 Week 3 Discussion Latest-DeVry
Merchandising Operations, Income Statements, and Inventory Cost-Flow Assumptions (graded)
In this area, we will discuss the accounting for inventory transactions of merchandising companies, the
two formats of preparing the income statement, and how to evaluate the profitability of a merchandising
company. We will also discuss how companies determine the year-end inventory value and cost of goods
sold using one of the cost-flow assumptions. Finally, we will also examine the impact of choosing a
certain cost-flow assumption on the tax liability and other financial statement numbers of a company.
Let’s begin with this question: How is the income statement of a merchandising company different from
that of a service company?
ACCT 504 Week 4 Discussion Latest-DeVry
Internal Control, Reporting Cash, and Accounting for Receivables (graded)
In this area, we will talk about the importance of internal control in a business organization and the
reporting of cash on the balance sheet as well as managing receivables and estimating uncollectible
accounts. What is internal control, and what are the objectives of a well-designed internal control
structure in an organization?
ACCT 504 Week 5 Discussion Latest-DeVry
Plant Assets, Intangibles, and Accounting for Liabilities (graded)
Companies have a significant amount of investment in long-lived assets, which include property, plant
and equipment (commonly referred to as plant assets), and intangible assets. We will also discuss
different types of liabilities and understand how to account for and report those liabilities.
Let’s begin by talking about plant assets. Can you tell us what kind of plant assets are used in your
company or place of business? Do you have an estimate of the amount invested in those plant assets?
ACCT 504 Week 6 Discussion Latest-DeVry
Accounting for and Reporting Equity and the Statement of Cash Flows (graded)
Stockholders’ equity is an important heading in a corporate Balance Sheet. Let’s begin the discussion of
stockholders’ equity by asking: How is the stockholders’ equity section of a corporate Balance Sheet
different from that in a single-owner business?
ACCT 504 Week 7 Discussion Latest-DeVry
Different Tools of Financial Analysis (graded)
There are different tools for analyzing the financial statements of a company, such as horizontal analysis,
vertical analysis, ratios for measuring financial health and profitability, and so forth. Before we begin using
these tools, however, it is important to know the purpose of each tool.
Why do we need different tools for analyzing the financial statements? Don’t the numbers in the financial
statements speak for themselves?