ACC 290 (New) Keep Learning/newtonhelp.com

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ACC 290 (New) Keep Learning/newtonhelp.com
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Final Exam Guide (New, 2020, 100
Score) For more course tutorials
visit www.newtonhelp.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. owners investment in the business.
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Apply Connect Assignment (100
Correct) (With Excel File) For more course
tutorials visit www.newtonhelp.com     1 On July
1, Tommy Wrigley established Wrigley Home
Appraisal Services, a firm that provides expert
residential appraisals and represents clients in
home appraisal hearings. TRANSACTIONS The owner
invested 100,000 in cash to begin the business.
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Apply Connect Exercise For
more course tutorials visit www.newtonhelp.com    
ACC 290 Week 1 Apply Connect Exercise   Review
the Knowledge Check in preparation for this
assignment.   Complete the Week 1 Exercise in
Connect.
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Assignment Preparing an Income
Statement Retained Earnings Statement and Balance
Sheet For more course tutorials
visit www.newtonhelp.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. 
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Discussion Question 1 For more
course tutorials visit www.newtonhelp.com       AC
C 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
financial statements be useful to managers and
employees? How would the financial statements be
useful to investors and creditors?
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Discussion Question 2 For more
course tutorials visit www.newtonhelp.com       Wh
at 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?
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Individual Assignment Financial
Statements Paper For more course tutorials
visit www.newtonhelp.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 to
internal users, such as to managers and
employees.  Discuss how the financial statements
would be useful to external users, such as
investors and creditors.  Format paper according
to APA standards.
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Practice Connect Practice
Assignment For more course tutorials
visit www.newtonhelp.com       ACC 290 Week 1
Practice Connect Practice Assignment Complete the
Week 1 Practice in Connect. Note You have
unlimited attempts available to complete practice
assignments
10
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Practice Connect Knowledge
Check For more course tutorials
visit www.newtonhelp.com     ACC 290 Week 1
Practice Connect Knowledge Check   Complete the
Week 1 Knowledge Check in Connect.   Note You
have unlimited attempts available to complete
this practice assignment. The highest scored
attempt will be recorded.
11
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Practice Quiz(New) For more
course tutorials visit www.newtonhelp.com       Qu
estion 1     Current assets are
expected to be converted to cash or consumed
within the next year or the normal operating
cycle, whichever is longer.  
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 Vocabulary Activity (New) For
more course tutorials visit www.newtonhelp.com    
  WileyPLUS Assignment Week 1 Vocabulary
Activity Resource WileyPLUS Complete the
following Week 1 Assignment in WileyPLUS
Chapter 1 WileyPLUS Crossword Puzzle 1
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 1 WileyPlus Assignment DI1-3,
E1-3,E1-4, E2-4, IFRS2-4 (New) For more course
tutorials visit www.newtonhelp.com       WileyPLUS
Assignment Week 1 Assignment Resource
WileyPLUS Complete the following Week 1
Assignment in WileyPLUS DO IT! 1-3
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Apply Connect Assignment For
more course tutorials visit www.newtonhelp.com    
  ACC 290 Week 2 Apply Connect
Assignment   Complete the Week 2 Assignment in
Connect.    
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Apply Connect Exercise For
more course tutorials visit www.newtonhelp.com    
ACC 290 Week 2 Apply Connect
Exercise Review the Knowledge Check in
preparation for this assignment. Complete the
Week 2 Exercise in Connect. Note You have
only one attempt available to complete this
assignment.
16
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Chapter 1,2,3 Orion WileyPlus
Proficiency and Practice Quiz For more course
tutorials visit www.newtonhelp.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? Q 1.3 Which
financial statement provides information for a
specific point in time?
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Charter for Collaborative Learning
Activities For more course tutorials
visit www.newtonhelp.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.
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Discussion Question 1 For more
course tutorials visit www.newtonhelp.com       Wh
at 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? What are accruals? Provide examples of
accruals. Why do accruals require adjusting
entries? What are deferrals? What are some
examples of deferrals? Why do deferrals require
adjusting entries?
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Discussion Question 2 For more
course tutorials visit www.newtonhelp.com       Wh
at accounts are subject to adjusting journal
entries and why? How would you explain the
purpose of the adjusted trial balance?  
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 E3-1 (New) For more course
tutorials visit www.newtonhelp.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.
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 LT Reflection Summary (New) For
more course tutorials visit www.newtonhelp.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.  Create Adjusting Entries.
22
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 LT Reflection Summary For more
course tutorials visit www.newtonhelp.com     Disc
uss the objectives for ACC 290 Week One. How do
they relate to the practice of accounting and its
uses in business? Identify the four basic
financial statements. Classify transactions
using the rules of debit and credit. Journalize
basic transactions. Discuss how financial
statements would be useful to external users such
as investors and creditors. Write a 350 to 500
word summary of your Learning Teams discussion.
23
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Practice Connect Practice
Assignment For more course tutorials
visit www.newtonhelp.com       ACC 290 Week 2
Practice Connect Practice Assignment Complete
the Week 2 Practice in Connect. Note You have
unlimited attempts available to complete practice
assignments
24
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Practice Connect Knowledge
Check For more course tutorials
visit www.newtonhelp.com     ACC 290 Week 2
Practice Connect Knowledge Check Complete the
Week 2 Knowledge Check in Connect. Note You
have unlimited attempts available to complete
this practice assignment. The highest scored
attempt will be recorded.
25
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Practice Quiz (New) For more
course tutorials visit www.newtonhelp.com      Que
stion 1   Expenses decrease retained
earnings.   Question 2   During 2014, Gibson
Company assets decreased 50,000 and its
liabilities decreased 90,000. Its stockholders
equity  
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 2 Vocabulary Activity (New) For
more course tutorials visit www.newtonhelp.com    
  WileyPLUS Assignment Week 2 Vocabulary
Activity   Resource WileyPLUS   Complete the
following Week 2 Assignment in WileyPLUS  
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ACC 290 (New) Keep Learning/newtonhelp.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 (New) For more course tutorials
visit www.newtonhelp.com       WileyPLUS
Assignment Week 2 Assignment   Resource
WileyPLUS   Complete the following Week 2
Assignment in WileyPLUS  
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3/4 Learning Team Financial
Reporting Problem, Part 1 (2 Different
Papers)(New) For more course tutorials
visit www.newtonhelp.com       Financial
Reporting Problem Part I   Browse the Internet to
acquire a copy of the most recent annual report
for a publicly traded company. Analyze the
information contained in the companys balance
sheet and income statement to answer the
following questions  
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Apply Connect Assignment (with
Excel File) For more course tutorials
visit www.newtonhelp.com       This Tutorial
contains an Excel File which can be used for any
values ACC 290 Week 3 Apply Connect
Assignment Complete the Week 3 Assignment in
Connect.
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Apply Connect Exercise For
more course tutorials visit www.newtonhelp.com    
ACC 290 Week 3 Apply Connect
Exercise Review the Knowledge Check in
preparation for this assignment. Complete the
Week 3 Exercise in Connect. Note You have
only one attempt available to complete this
assignment.
31
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Chapter 4,5 Orion WileyPlus
Proficiency and Practice Quiz For more course
tutorials visit www.newtonhelp.com       ACC 290
Chapter 4 Orion WileyPlus Build your
Proficiency     Q 4.1              Which of the
following statements about accrual-basis
accounting is NOT true? Q 4.2              If a
company spends 12 million dollars for a
warehouse, when should the cost be written off?
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Discussion Question 1 For more
course tutorials visit www.newtonhelp.com       Wh
at 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 the
four closing journal entries? Why are they
necessary? What are reversing entries? Why are
they used? What are the pros and cons of using
reversing entries? Why are reversing entries
optional?
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Discussion Question 2 For more
course tutorials visit www.newtonhelp.com       Wh
at 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?
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 LT Reflection Summary For more
course tutorials visit www.newtonhelp.com       Di
scuss 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.  Create Adjusting
Entries.  Prepare an adjusted trial balance. 
Write a 350 to 500 word summary of your Learning
Teams discussion.
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Practice Connect Practice
Assignment For more course tutorials
visit www.newtonhelp.com       ACC 290 Week 3
Practice Connect Practice Assignment Complete the
Week3 Practice in Connect.   Note You have
unlimited attempts available to complete practice
assignments  
36
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Practice Quiz (New) For more
course tutorials visit www.newtonhelp.com       Qu
estion 1   The revenue recognition principle
dictates that revenue is recognized in the period
in which the cash is received.            
37
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Practice Connect Knowledge
Check For more course tutorials
visit www.newtonhelp.com     ACC 290 Week 3
Practice Connect Knowledge Check Complete the
Week 3 Knowledge Check in Connect. Note You
have unlimited attempts available to complete
this practice assignment. The highest scored
attempt will be recorded.
38
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Problem 5-5A (Simon Company) For
more course tutorials visit www.newtonhelp.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
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 Vocabulary Activity (New) For
more course tutorials visit www.newtonhelp.com    
  WileyPLUS Assignment Week 3 Practice
Quiz Resource WileyPLUS Complete the following
Week 3 Assignment in WileyPLUS Chapter 4
Practice Quiz
40
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 3 WileyPlus Assignment BE4-1, P4-2A,
P4-3A, BYP4-1, IFRS PQ-1, PQ-2, PQ-3, PQ-4 (New)
For more course tutorials visit www.newtonhelp.co
m       Assignment Week 3 Assignment Complete
the following Week 3 Assignment Brief Exercise
4-1 Problem 4-2A Problem 4-3A
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4/5 Individual Assignment Financial
Reporting Problem Part II (2 Different
Papers)(New) For more course tutorials
visit www.newtonhelp.com       Financial
Reporting Problem Part II Access the internet to
acquire a copy of the most recent annual report
for the public traded company used to complete
the Financial Reporting Problem, Part 1
assignment due in ACC 290 Week Four.
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ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4 Apply Connect Assignment (100
Correct) (With Excel File) For more course
tutorials visit www.newtonhelp.com     This
Tutorial contains an Excel File which can be used
for any values   ACC 290 Week 4 Apply Connect
Assignment   Note You have only 1 attempt
available to complete assignments  
43
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4 Apply Connect Exercise For
more course tutorials visit www.newtonhelp.com    
ACC 290 Week 4 Apply Connect
Exercise Review the Knowledge Check in
preparation for this assignment. Complete the
Week 4 Exercise in Connect. Note You have
only one attempt available to complete this
assignment.
44
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4 Chapter 6 Orion WileyPlus
Proficiency and Practice Quiz For more course
tutorials visit www.newtonhelp.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? 
45
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4 Discussion Question 1 For more
course tutorials visit www.newtonhelp.com       Ho
w 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 to record
the purchase and subsequent sale of merchandise?
46
ACC 290 (New) Keep Learning/newtonhelp.com
 ACC 290 Week 4 Discussion Question 2 For more
course tutorials visit www.newtonhelp.com       Wh
at are the three different inventory cost flow
assumptions commonly used in commerce today and
allowed by generally accepted accounting
principles?
47
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4 LT Reflection Summary For more
course tutorials visit www.newtonhelp.com       Re
flection and Financial Reporting Problem Part
I. Discuss the objectives for ACC 290 Week
Three.  How do they relate to the practice of
accounting and its uses in business?  Prepare
closing entries, reversing entries, and a post
closing trial balance.  Prepare a financial
statement work sheet.  Prepare a classified
income statement, retained earnings statement and
balance sheet. Write a 350 to 500 word summary of
your Learning Teams discussion.  
48
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4 Practice Connect Practice
Assignment For more course tutorials
visit www.newtonhelp.com       ACC 290 Week 4
Practice Connect Practice Assignment Complete the
Week 4 Practice in Connect. Note You have
unlimited attempts available to complete practice
assignments.
49
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4 Practice Connect Knowledge
Check For more course tutorials
visit www.newtonhelp.com     ACC 290 Week 4
Practice Connect Knowledge Check Complete the
Week 4 Knowledge Check in Connect. Note You
have unlimited attempts available to complete
this practice assignment. The highest scored
attempt will be recorded.
50
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4 Practice Quiz (New) For more
course tutorials visit www.newtonhelp.com       Qu
estion 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.  
51
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4 Vocabulary Activity (New) For
more course tutorials visit www.newtonhelp.com    
  WileyPLUS Assignment Week 4 Vocabulary
Activity Resource WileyPLUS Complete the
following Week 4 Assignment in WileyPLUS
Chapter 5 Crossword Puzzle 1  
52
ACC 290 (New) Keep Learning/newtonhelp.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 (New) For more course
tutorials visit www.newtonhelp.com       Week 4
Assignment Complete the following Week 4
Assignment in Problem 4-8A
53
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 4Evaluate The Inventory Section Of
Two companies Using Basic Comparative Analysis
For more course tutorials visit www.newtonhelp.co
m       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.
54
ACC 290 (New) Keep Learning/newtonhelp.com
 ACC 290 Week 5 Apply Connect Assignment (100
Correct) (with Excel File) For more course
tutorials visit www.newtonhelp.com     This
Tutorial contains an Excel File which can be used
for any values   ACC 290 Week 5 Apply Connect
Assignment   Note You have only 1 attempt
available to complete assignments   There are 3
Questions in this Tutorial (details given below,
our excel sheet can be used for any values)      
55
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 5 Apply Connect Exercise For
more course tutorials visit www.newtonhelp.com    
ACC 290 Week 5 Apply Connect
Exercise Review the Knowledge Check in
preparation for this assignment. Complete the
Week 5 Exercise in Connect. Note You have
only one attempt available to complete this
assignment.
56
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 5 Discussion Question 1 For more
course tutorials visit www.newtonhelp.com       Wh
at is the control environment? How does the
control environment affect a companys internal
controls? What are the negative and positive
elements of a control environment? What are two
examples of strong and weak internal controls in
organizations where you have worked or have
first-hand knowledge?
57
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 5 IFRS Paper (New) For more course
tutorials visit www.newtonhelp.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? Explain.
58
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 5 Learning Team Reflection Summary
(New) For more course tutorials
visit www.newtonhelp.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 controls in complying with SOX
(2002)?  Write a 350 to 500 word summary of your
Learning Teams discussion.
59
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 5 Practice Connect Practice
Assignment For more course tutorials
visit www.newtonhelp.com       ACC 290 Week 5
Practice Connect Practice Assignment Complete the
Week 5 Practice in Connect. Note You have
unlimited attempts available to complete practice
assignments.
60
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 5 Practice Connect Knowledge
Check For more course tutorials
visit www.newtonhelp.com     ACC 290 Week 5
Practice Connect Knowledge Check Complete the
Week 5 Knowledge Check in Connect. Note You
have unlimited attempts available to complete
this practice assignment. The highest scored
attempt will be recorded. These assignments have
earlier due dates, so plan accordingly.
61
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 5 Preparing Comprehensive Bank
Reconciliation (Daisey Company) For more course
tutorials visit www.newtonhelp.com       Purpose
of Assignment Reconciling bank accounts is a good
way to help maintain internal controls over cash.
With time lags and posting errors it is easy for
cash transactions to be omitted, recorded in a
different accounting period, or reflect incorrect
amounts. This assignment with give you practical
experience in reconciling the cash balance as
noted on the company books to the bank's records.
62
ACC 290 (New) Keep Learning/newtonhelp.com
ACC 290 Week 5 Practice Connect Knowledge
Check For more course tutorials
visit www.newtonhelp.com        ACC 290 Week 5
Practice Connect Knowledge Check Complete the
Week 5 Knowledge Check in Connect. Note You
have unlimited attempts available to complete
this practice assignment. The highest scored
attempt will be recorded. These assignments have
earlier due dates, so plan accordingly.
63
ACC 290 (New) Keep Learning/newtonhelp.com