ACC 541Course Real Knowledge / acc541.com

1
ACC 541Course Real Knowledge / acc541.com
The Best way to predict the Future is to create
it.....To Best way....
www.acc541.com
2
ACC 541Course Real Knowledge / acc541.com
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 Cli
3
ACC 541Course Real Knowledge / acc541.com
ACC 541 Week 1 DQ 1 For more course tutorials
visit www.acc541.com What is the importance of
the mission of the FASB?
4
ACC 541Course Real Knowledge / acc541.com
ACC 541 Week 1 DQ 2 For more course tutorials
visit www.acc541.com Under current GAAP, goodwill
is recorded when purchased.
5
ACC 541Course Real Knowledge / acc541.com
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 An explanation of how the MSA
program prepares the student for a professional
life within the accounting vocation Format your
paper consistent with APA guidelines, including
appropriate citations and references. Run your
paper through WritePointSM and Plagiarism Checker.
6
ACC 541Course Real Knowledge / acc541.com
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.)
7
ACC 541Course Real Knowledge / acc541.com
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 Adjusting
goodwill for impairment Write a 1,050- to
1,400-word response that addresses your clients
questions. Format your paper consistent with APA
guidelines, i
8
ACC 541Course Real Knowledge / acc541.com
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.
9
ACC 541Course Real Knowledge / acc541.com
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?
10
ACC 541Course Real Knowledge / acc541.com
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. Your supervisor has
asked you to research leases and lease structure
issues on the Financial Accounting Standards
Board (FASB) website, in particular the current
practice and thought related to direct financing,
sales type, and operating leases.
11
ACC 541Course Real Knowledge / acc541.com
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?
12
ACC 541Course Real Knowledge / acc541.com
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.
13
ACC 541Course Real Knowledge / acc541.com
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. The client wants to know if part of the
debt is forgiven, or if the mortgage is
rewritten, or if the mortgage will be rewritten
if he or she files Chapter 11. The lawsuit also
involves a patent held by the company. The
company had acquired a hedge contract against the
impairment of the patent. Aside from the recovery
of the hedge
14
ACC 541Course Real Knowledge / acc541.com
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.
15
ACC 541Course Real Knowledge / acc541.com
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. Also include an explanation
of what must happen for the two segments to be
eliminated
16
ACC 541Course Real Knowledge / acc541.com
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.
17
ACC 541Course Real Knowledge / acc541.com
The Best way to predict the Future is to create
it.....To Best way....
www.acc541.com