ACC 290 GENIUS EDUCATION EXPERT / acc290genius.com

1
ACC 290 GENIUS EDUCATION EXPERT /
acc290geniusdotcom

• FOR MORE CLASSES VISIT
• www.acc290genius.com

2
AC 290 WeeK 34 Learning Team Financial (New)

• 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

3
ACC 290 Final Exam Guide (New)

• ACC 290 Finals Question 1 Jackson Company
  recorded the following cash transactions for the
  year Paid 135,000 for salaries. Paid 60,000 to
  purchase office equipment. Paid 15,000 for
  utilities. Paid 6,000 in dividends. Collected
  245,000 from customers. Question 2 Which of the
  following describes the classification and normal
  balance of the Unearned Rent Revenue account?
  Question 3 Posting Question 4 The following is
  selected

4
ACC 290 Week 1 Discussion Question 1

• ACC 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?

5
ACC 290 Week 1 Discussion Question 2

• What 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?

6
ACC 290 Week 1 Individual Assignment

• 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.
• .

7
ACC 290 Week 1 Practice Quiz(New)

• Question 1 Current assets are expected to be
  converted to cash or consumed within the next
  year or the normal operating cycle, whichever is
  longer. Current assets are economic resources
  that are expected to be converted to cash or used
  up by the business within one year or the normal
  operating cycle, whichever is shorter. Question 2
  Land or a building which is currently not used in
  operation is considered to be a long-term

8
ACC 290 Week 1 Vocabulary Activity (New)

• WileyPLUS Assignment Week 1 Vocabulary Activity
  Resource WileyPLUS Complete the following Week 1
  Assignment in WileyPLUS Chapter 1 WileyPLUS
  Crossword Puzzle 1

9
ACC 290 Week 1 WileyPlus Assignment New)

• WileyPLUS Assignment Week 1 Assignment Resource
  WileyPLUS Complete the following Week 1
  Assignment in WileyPLUS DO IT! 1-3 Exercise
  1-3 Exercise 1-4 Exercise Excel E 2-4 IFRS
  2-4

10
ACC 290 Week 2 Discussion Question 1

• What 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?

11
ACC 290 Week 2 Discussion Question 2

• What accounts are subject to adjusting journal
  entries and why? How would you explain the
  purpose of the adjusted trial balance?

12
ACC 290 Week 2 LT Reflection Summary (New)

• 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. Prepare an adjusted trial balance. Write
  a 350 to 500 word summary of your Learning Teams
  discussion.

13
ACC 290 Week 2 LT Reflection Summary

• Discuss 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.

14
ACC 290 Week 2 Practice Quiz (New)

• Question 1 Expenses decrease retained earnings.
  Question 2 During 2014, Gibson Company assets
  decreased 50,000 and its liabilities decreased
  90,000. Its stockholders equity Question 3
  Payment of a dividend Question 4 An account is a
  part of the financial information system and is
  described by all except which one of the
  following? Question 5 Which accounts normally

15
ACC 290 Week 2 Vocabulary Activity (New)

• WileyPLUS Assignment Week 2 Vocabulary Activity
  Resource WileyPLUS Complete the following Week 2
  Assignment in WileyPLUS Chapter 2 Wiley PLUS
  Crossword Puzzle 1

16
ACC 290 Week 2 WileyPlus Assignment (New)

• ACC 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?

17
ACC 290 Week 3 Discussion Question 1

• What 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?

18
ACC 290 Week 3 Discussion Question 2

• What 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?
• 67-73.

19
ACC 290 Week 3 LT Reflection Summary

• 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. Prepare an adjusted trial balance. Write
  a 350 to 500 word summary of your Learning Teams
  discussion.

20
ACC 290 Week 3 Practice Quiz (New)

• Question 1 The revenue recognition principle
  dictates that revenue is recognized in the period
  in which the cash is received. Question 2 The
  generally accepted accounting principle which
  dictates that revenue be recognized in the
  accounting period in which the performance
  obligation is satisfied is the Question 3 Which
  statement is correct? Question 4 Book value is
  equal to cost minus accumulated depreciation

21
ACC 290 Week 3 Vocabulary Activity (New)

• WileyPLUS Assignment Week 3 Practice Quiz
  Resource WileyPLUS Complete the following Week 3
  Assignment in WileyPLUS Chapter 4 Practice Quiz

22
ACC 290 Week 3 WileyPlus Assignment (New)

• Assignment Week 3 Assignment Complete the
  following Week 3 Assignment Brief Exercise 4-1
  Problem 4-2A Problem 4-3A BYP 4-1 IFRS
  Practice Question 1 IFRS Practice Question 2
  IFRS Practice Question 3 IFRS Practice Question
  4
• .

23
ACC 290 Week 4 Discussion Question 1

• How 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?
  How would these transactions differ with

24
ACC 290 Week 4 Discussion Question 2

• What are the three different inventory cost flow
  assumptions commonly used in commerce today and
  allowed by generally accepted accounting
  principles? How does a company determine what
  cost flow assumption they should use? How does
  first in, first out cost flow assumption work?
  When it is most appropriate to use? How does last
  in, first out cost flow assumption work?

25
ACC 290 Week 4 LT Reflection Summary

• Reflection 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.

26
ACC 290 Week 4 Practice Quiz (New)

• Question 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. Question 2 Due to the turnover
  time of inventory, merchandising companies have
  an operating cycle that is longer than a service
  company. The operating cycle of a merchandising
  company

27
ACC 290 Week 4 Vocabulary Activity (New)

• WileyPLUS Assignment Week 4 Vocabulary Activity
  Resource WileyPLUS Complete the following Week 4
  Assignment in WileyPLUS Chapter 5 Crossword
  Puzzle 1

28
ACC 290 Week 4 Wileyplus Assignment

• Week 4 Assignment Complete the following Week 4
  Assignment in Problem 4-8A Brief Exercise 5-1
  Brief Exercise 5-2 BYP 5-1 BYP 5-2 IFRS 5-2 IFRS
  5-4 Practice Question 1 Practice Question 2
  Practice Question 3

29
ACC 290 Week 5 Discussion Question 1

• What 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

30
ACC 290 Week 5 IFRS Paper (New)

• 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. IFRS 2-3 What
  terms commonly used under IFRS are synonymous
  with common stock and bal.

31
ACC 290 Week 5 Learning Team (New)

• 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.

32
ACC 290 Week 5 WileyPlus Assignment

• Assignment Week 5 Assignment Complete the
  following Week 5 Assignment IFRS Practice
  Question 1 IFRS Practice Question 2 Brief
  Exercise 6-5 Brief Exercise 6-7 BYP 6-1 BYP 6-2
  Brief Exercise 7-4 Brief Exercise 7-6

33
ACC 290 Week 45 Individual Assignment

• 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

34
ACC 290 GENIUS EDUCATION EXPERT /
acc290geniusdotcom

• FOR MORE CLASSES VISIT
• www.acc290genius.com