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This work of ACC 305 Week 5 P11-5 on page 608 and P11-7 on page 610 includes:
Thompson Corporation: Property, plant, and equipment and intangible assets; comprehensive
Business - General Business
ASHFORD ACC 305 ENTIRE COURSE Intermediate Accounting I
Required Readings
a. Chapter 1: Environment and Theoretical Structure of Financial Accounting
b. Chapter 2: Review of the Accounting Process
c. Chapter 3: The Balance Sheet and Financial Disclosures
Discussions
FASB and Ethics. From Chapter 1 complete Research Case 1-3 (page 45) and Ethics Case 1-8 (page 46).Â
Cash versus Accrual Financial Disclosures. From Chapter 2 answer Judgment Case 2-1 (page 109) and Judgment Case 3-6 (page 162).Â
Quiz
1. Due Day 6. Week One Quiz. Complete the quiz on the assigned readings for the week.
Assignments
Week One Exercises.Complete these problems: E3-18 (Page 152), E3-20 (Page 152), and Judgment Case 3-5(Page 161).
Week 2Â
Required Readings
a. Chapter 4: The Income Statement and Statement of Cash Flows
b. Chapter 5: Income Measurement and Profitability Analysis
Discussions
Earnings Management. Complete Judgment Case 4-3 (page 225).Â
Revenue Recognition. Complete Judgment Case 5-2 (page 291).Â
Assignments
Integrating Case. From Chapter 5 complete Integrating Case 5-23 on page 296Â
E4-16, E4-19, E4-22 Judgment Case 4-9 on page 227, E5-3 on page 275, and E5-10.Â
Week 3
Required Readings
a. Chapter 6: Time Value of Money Concepts
b. Chapter 7: Cash and Receivables
Discussions
Present Value of Annuities. Complete Communication Case 6-3 on page 334.Â
Internal Control. Complete Judgment Case 7-5 on page 391.
Quiz
Assignments
Receivables Bank Reconciliation. Complete P7-10 (Page 388) P7-14 (Page 389)
Week 4Â
Required Readings
a. Chapter 8: Inventories: Measurement
b. Chapter 9: Inventories: Additional Issues
Discussions
LIFO vs. FIFO. Complete Communication Case 8-4 on page 442.Â
Overstatement of Ending Inventory. Complete Ethics Case 9-11 on page 497.Â
Quiz
Assignments
Week Four Exercises. E8-13, E8-14, E8-18, P8-5, E9-19, E9-21, and P9-1.Â
Week 5Â
Required Readings
a. Chapter 10: Property, Plant, and Equipment and Intangible Assets: Acquisition and Disposition
b. Chapter 11: Property, Plant, and Equipment and Intangible Assets: Utilization and Impairment
Discussions
Research and Development. Complete Ethics Case 10-12 on page 553.Â
Depreciation Methods. From Chapter 11 complete E11-5 (page 599) and E11-10 (page 600)
Assignments
Operational Assets Depletion. Complete P11-5 on page 608 P11-7 on page 610Â
Final Paper
Focus of the Final Paper
Submit a seven to ten page paper on one of the major topics listed below. The paper should incorporate at least three other appropriately documented and related articles drawn from the University’s Library. (Note: you may advance your own topic, but it must be approved by your instructor.)
Explain the role of the FASB in monitoring and controlling business reporting and accounting practices in the modern organization. In what ways do FASB rules limit business practices and reporting financial information? How do such rules and regulations protect the business and public stakeholder communities? To whom is the FASB accountable and who appoints members to FASB?
Explain how external stakeholders use financial information such as company income statements and balance sheets to make decisions about the company in such cases as advancing credit or offering leasing vehicles. Discuss how common financial ratios and investment analysis is used to conduct due diligence by external parties and how factors such as accounts receivables, accounts payables, earnings returns, returns on inventory, etc. are applied to evaluate a firm’s financial and business health.
Discuss depreciation as a tool for managing and evaluating the life and utility of assets of the firm. What are the methods and under what conditions would each method be used and applied? Does a firm’s tax planning influence the decision? How do external stakeholders assess the validity of depreciation schemes?
Understand that the dining card you have been given for your meal plan will run out quickly during the semester. Therefore, you should not pig out when you see that you have a lot of money on it. Conserve that money, as you do not want to have to tap into your own funds....
