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1
ACC 422 EXPERT EDUCATION EXPERT / acc422expert.com

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ACC 422 Entire Course

• ACC 422 Week 1 DQ 1
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• ACC 422 Week 1 DQ 2
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• ACC 422 Week 1 DQ 3
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• ACC 422 Week 1 Individual Assignment Disclosure
  Analysis Paper
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• ACC 422 Week 1 Summary
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ACC 422 Final Exam Guide 1

•  
• 1. Kraft Enterprises owns the following assets
  at December 31, 2012. Cash in banksavings
  account 67,516 Checking account balance 26,445
  Cash on hand 9,478 Postdated checks 753 Cash
  refund due from IRS 40,324 Certificates of
  deposit (180-day) 94,754 What amount should be
  reported as cash? Question 2 Presented below is
  information related to Rembrandt Inc.s
  inventory. (per unit)
  Skis Boots
  Parkas Historical Cost
  273.79 152.75
  76.37 Selling Price
  312.70 208.95
  106.27 Cost to distribute
  27.38 11.53
  3.60 Current replacement cost
  292.52 151.31 73.49
  Normal profit margin
  46.11 41.79 30.62
  Determine the following Question 3 Matlock
  Company uses a perpetual

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ACC 422 Final Exam Guide 2

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• 1) Which of the following is NOT considered
  cash for financial reporting purposes??2) What is
  the preferable presentation of accounts
  receivable from officers, employees, or
  affiliated companies on a balance sheet??3) Which
  of the following is considered cash??4) If a
  company employs the gross method of recording
  accounts receivable from customers, then sales
  discounts taken should be reported as5) Assuming
  that the ideal measure of short-term receivables
  in the balance sheet is the discounted value of
  the cash to be received in the future, failure to
  follow this practice usually does NOT make the
  balance sheet misleading because6) Which of the
  following methods of determining annual bad debt
  expense best achieves the matching concept?7) The
  accountant for the Orion Sales Company is
  preparing the income statement for 2007 and the
  balance sheet at December 31, 2007. Orion uses
  the periodic inventory system. The January 1,
  2007 merchandise inventory balance will appear8)
  Eller Co. received merchandise on consignment. As
  of January 31, Eller included the goods in
  inventory, but did NOT record the transaction.
  The effect of this on its financial statements
  for January 31 would be9. If the

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ACC 422 Week 1 DQ 1

• Consider how an organization must manage cash,
  receivables, and inventory. Which of the three
  variables is the most important to manage? Is one
  more susceptible to fraud and errors than the
  others? Explain your answer.
•  
• How would a misstatement in each affect the
  organization?

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ACC 422 Week 1 DQ 2

• What is the perpetual method of tracking
  inventory?
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• How does it differ from the periodic method of
  tracking inventory?
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• Why would a company choose one method over the
  other method?
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• Which is the best method? Why?

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ACC 422 Week 1 DQ 3

• What are the different ways to estimate bad debt?
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• How does this affect net income?
•  
• What does Generally Accepted Accounting
  Principles (GAAP) require? Why?
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• Should all companies have bad debt? Explain your
  answer.

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ACC 422 Week 1 Individual Assignment Disclosure
Analysis Paper

• Resource Internet
•  
•  
• Select a publicly held company to use as the
  basis for this assignment.
•  
•  
• Research your selected company and acquire the
  companys most recent financial statements using
  the Internet.
•  

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ACC 422 Week 1 Summary

• Post a 150 words summary what you have learned
  this week

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ACC 422 Week 2 DQ 1

• Under what circumstances would a company need to
  estimate its inventory?
•  
• What are the differences between using the gross
  profit method and retail inventory method for
  estimating inventory?
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• Which method of estimation, gross profit or
  retail inventory, is best? Explain your answer.

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ACC 422 Week 2 DQ 2

• What are the criteria for capitalization of fixed
  assets?
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• What items are included in the cost of a fixed
  asset?
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• Should interest be included in the cost of a
  fixed asset? Explain why or why not.

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ACC 422 Week 2 DQ 3

• How do we account for the disposition of fixed
  assets?
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• What are the differences in how the exchanges of
  assets are handled, pending on whether they are
  similar or dissimilar?
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• What is the rationale for these differences?
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• What is the impact to the companies financial
  statements?

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ACC 422 Week 2 Individual Assignment E7-2,
E7-8,Q13,E8-5 And E8-14

• ResourceIntermediate Accounting
•  
• Prepare written responses to the following
  assignments from the text
•  
•  
• Ch. 7 Exercises E7-2 E7-8
•  
• Ch. 8 Question 13 and Exercises E8-5 E8-14

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ACC 422 Week 2 Learning Team Assignment From The
Text P7-10 And E8-25

• ResourceIntermediate Accounting
•  
• Prepare written responses to the following
  assignments from the text
•  
•  
• Ch. 7 Problem P7-10
•  
• Ch. 8 Exercise E8-25

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ACC 422 Week 2 Summary

• Post a 150 words summary what you have learned
  this week

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ACC 422 Week 3 DQ 1

• What is the purpose of depreciation?
•  
• Does the book value of a fixed asset (cost minus
  accumulated depreciation) communicate to a user
  what the asset is worth? Explain why or why not.
•  
• Should the financial statements reflect the value
  of fixed assets? Explain why or why not.

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ACC 422 Week 3 DQ 2

• What are the different methods used to calculate
  depreciation?
•  
• How does a company decide which method it should
  utilize?
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• How does its choice affect the financial
  statements?

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ACC 422 Week 3 DQ 3

• What is an intangible asset?
•  
• Should all intangible assets be subject to
  amortization? Explain why or why not.
•  
• Why are some intangible assets not amortized?
•  
• What is the implication to the financial
  statements?

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ACC 422 Week 3 Individual Assignment From the
Text E9-1,E9-12,E9-19,E10-5 And E10-12

• ResourceIntermediate Accounting
•  
• Prepare written responses to the following
  assignments from the text
•  
•  
• Ch. 9 Exorcices E9-1, E9-12, E9-19
•  
• Ch. 10 Exercises E10-5 E10-12

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ACC 422 Week 3 Learning Team Assignment From The
Text P9-9 And P10-8

• ResourceIntermediate Accounting
•  
• Prepare written responses to the following
  assignments from the text
•  
•  
• Ch. 9 Problem P9-9
•  
• Ch. 10 Problem P10-8

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ACC 422 Week 3 Summary

• Post a 150 words summary what you have learned
  this week

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ACC 422 Week 4 DQ 1

• What are the criteria for classifying an item as
  a current liability?
•  
• What are some examples of current liabilities?
•  
• Why is it important to classify a portion of
  long-term debt on a yearly basis as a current
  liability?
•  
• What is the implication of misclassifying a
  liability as current or long-term?

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ACC 422 Week 4 DQ 2

• What is a contingency?
•  
• Why are contingencies important to users of
  financial statements?
•  
• What are the criteria for recording
  contingencies?
•  

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ACC 422 Week 4 DQ 3

• What is a bond? What are some features of a bond?
  How do you value bonds? What factors can affect
  that value?

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ACC 422 Week 4 Individual Assignment From The
Text E11-4,E11-11,E12-6 And E12-16

• ResourceIntermediate Accounting
•  
• Prepare written responses to the following
  assignments from the text
•  
•  
• Ch. 11 Exercises E11-4 E11-11
•  
• Ch. 12 Exercises E12-6 E12-16

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ACC 422 Week 4 Learning Team Assignment From The
Text E11-18,P11-10 And P12-3

• ResourceIntermediate Accounting
•  
• Prepare written responses to the following
  assignments from the text
•  
•  
• Ch. 11 Exercise E11-18 Problem
  P11-10
•  
• Ch. 12 Problem P12-3

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ACC 422 Week 5 DQ 1

• What are the differences between a
  direct-financing and a sales-type lease for a
  lessor?
•  
• Why would a lessor provide direct-financing to a
  lessee?
•  
• What types of organizations provide
  direct-financing leases?

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ACC 422 Week 5 DQ 2

• What are the criteria for classifying a lease as
  operating or capital?
•  
• Why is there a difference between the two?
•  
• What are the implications of an operating lease
  versus a capital lease on an entitys financial
  statements?

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ACC 422 Week 5 DQ 3

• What is residual value?
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• What is the implication to the lessee if the
  residual value is guaranteed or unguaranteed?
•  
• What is the implication to the lessor?

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ACC 422 Week 5 Individual Assignment From The
Text E13-1,E13-7,E13-11 And E13-13

• ResourceIntermediate Accounting
• Prepare written responses to the following
  assignments listed at the end of each chapter
• Ch. 13 Exorcices E13-1, E13-7, E13-11,
  E13-13
• Ch. 21 Question 3
•  

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ACC 422 Week 5 Learning Team Assignment From The
Text P13-4,E14-21 And E21-7

• ResourceIntermediate Accounting
•  
• Prepare written responses to the following
  assignments from the text
•  
•  
• Ch. 13 Problem P13-4
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• Ch. 14 Exercise E14-21
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• Ch. 21 Exercise E21-7
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ACC 422 Week 5 Learning Team Problem Presentation

• Collaborate as a team to provide written
  responses to a facilitator-assigned problem.
•  
• Prepare a 5- to 10-minute oral presentation
  accompanied by a 7- to 9-slide Microsoft
  PowerPoint presentation illustrating your teams
  solution to the assigned problem.
•  

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ACC 422 EXPERT EDUCATION EXPERT / acc422expert.com

• FOR MORE CLASSES VISIT
• www.acc422expert.com