ACC 541 Innovative Educator/acc541.com

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ACC 541 Innovative Educator/acc541.com
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ACC 541 Innovative Educator

• ACC 541 Entire Course
• For more course tutorials visit
• www.acc541.com
• ACC 541 Week 1 Individual Assignment Accounting
  Standards Boards Paper
• ACC 541 Week 1 DQ 1
• ACC 541 Week 1 DQ 2
• ACC 541 Week 2 Individual Assignment Client
  Understanding Paper
• ACC 541 Week 2 DQ 1
• ACC 541 Week 2 DQ 2
• ACC 541 Week 3 Individual Assignment Response to
  Client Request I

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ACC 541 Innovative Educator

• ACC 541 Week 1 DQ 1
• For more course tutorials visit
• www.acc541.com
• What is the importance of the mission of the
  FASB?

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ACC 541 Innovative Educator

• ACC 541 Week 1 DQ 2
• For more course tutorials visit
• www.acc541.com
• Under current GAAP, goodwill is recorded when
  purchased.

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ACC 541 Innovative Educator

• ACC 541 Week 1 Individual Assignment Accounting
  Standards Boards Paper
• For more course tutorials visit
• www.acc541.com
• The International Accounting Standards Board
  (IASB) and the Financial Accounting Standards
  Board (FASB) are currently working on a joint
  venture referred to as the convergence project.
• 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

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ACC 541 Innovative Educator

• ACC 541 Week 2 DQ 1
• For more course tutorials visit
• www.acc541.com
• 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.)

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ACC 541 Innovative Educator

• ACC 541 Week 2 DQ 2
• For more course tutorials visit
• www.acc541.com
• Under current GAAP, goodwill is recorded when
  purchased

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ACC 541 Innovative Educator

• ACC 541 Week 2 Individual Assignment Client
  Understanding Paper
• For more course tutorials visit
• www.acc541.com
• As a newly hired Staff I, you are responsible for
  analyzing the work papers for one of the clients
  of your organization. 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

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ACC 541 Innovative Educator

• ACC 541 Week 3 DQ 1
• For more course tutorials visit
• www.acc541.com
• Capital leases and operating leases are the two
  classifications of leases described in FASB
  pronouncements from the standpoint of the
  lessee.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.

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ACC 541 Innovative Educator

• ACC 541 Week 3 DQ 2
• For more course tutorials visit
• www.acc541.com
• On January 1, 2006, Von Company entered into two
  noncancelable leases for new machines to be used
  in its manufacturing operations. The first lease
  does not contain a bargain purchase option the
  lease term is equal to 80 percent of the
  estimated economic life of the machine. 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?

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ACC 541 Innovative Educator

• ACC 541 Week 3 Individual Assignment Response to
  Client Request I
• For more course tutorials visit
• www.acc541.com
• While working on a consulting engagement, a
  supervisor in your team has given you an
  assignment. The client is a regional trucking
  company. A new customer has approached the client
  with an opportunity that would require 120
  trailers20 more than the trucking company
  currently owns. The client is uncertain how long
  the relationship with the customer may last, but
  the deal has the potential for significant
  growth.

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ACC 541 Innovative Educator

• ACC 541 Week 4 DQ 1
• For more course tutorials visit
• www.acc541.com
• Discuss contingencies and how they are reported
  on financial statements. What conditions must be
  met before a contingency can be charged against
  income?

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ACC 541 Innovative Educator

• ACC 541 Week 4 DQ 2
• For more course tutorials visit
• www.acc541.com
• 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.

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ACC 541 Innovative Educator

• ACC 541 Week 4 Individual Assignment Response to
  Client Request II
• For more course tutorials visit
• www.acc541.com
• Your client is being sued. You have asked the
  clients lawyer about the possibility of losing
  the lawsuit. The client, meanwhile, has asked you
  to describe what would happen to his or her
  financial statements. The client has also
  informed you that by losing the lawsuit, he or
  she anticipates losing the mortgage and has
  started talking to a mortgage lender.

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ACC 541 Innovative Educator

• ACC 541 Week 5 DQ 1
• For more course tutorials visit
• www.acc541.com
• Explain operating segments of an enterprise.

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ACC 541 Innovative Educator

• ACC 541 Week 5 DQ 2
• For more course tutorials visit
• www.acc541.com
• 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.

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ACC 541 Innovative Educator

• ACC 541 Week 5 Individual Assignment Reporting
  Paper
• For more course tutorials visit
• www.acc541.com
• You are a controller in a midsized manufacturing
  company that has acquired 100 of another
  company. The acquired company includes two
  segments and two different pension plans. Both of
  these reporting issues are new to your CEO, and
  your CEO wants to eliminate the segments.
• Write a 700- to 1,050-word executive memo that
  explains the required reporting for defined
  contribution, defined benefit, and other
  postretirement plans.

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ACC 541 Innovative Educator

• ACC 541 Week 6 DQ 1
• For more course tutorials visit
• www.acc541.com
• 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.

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ACC 541 Innovative Educator

• ACC 541 Week 6 DQ 2
• For more course tutorials visit
• www.acc541.com
• What type of accounting or which area of
  accounting are you planning to enter as your
  profession? Why?

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ACC 541 Innovative Educator

• ACC 541 Week 6 Team Assignment Auditing a
  Publicly Traded Company
• For more course tutorials visit
• www.acc541.com
• As a Staff I assigned to the audit of a publicly
  traded company, your senior has asked you to
  evaluate both share-based payment reporting and
  special purpose entities (SPE) reporting for the
  company.
• Research share-based payment reporting and SPE
  reporting individually.
• 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).

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ACC 541 Innovative Educator