ACC 290 Week 1 summary, ACC 290 Week 1 Individual Assignment Financial Statements Paper A+ Graded with Preview!
Week 1 DQ1 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.
Week 1 DQ2 How would the financial statements be useful to managers and employees? How would the financial statements be useful to investors and creditors?
DQ3 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?
ACC 290 Week 1 Individual Assignment 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.
Week 2 DQ1
What is accrual accounting? Why do generally accepted accounting principles require accrual accounting? What is the difference between accrual and cash accounting? When might an accountant use cash basis accounting without violating generally accepted accounting principles?
Week 2 DQ2
What is the revenue recognition principle? What is the expense recognition principle? Why are they important to financial reporting?
Week 2 DQ3
What are adjusting entries and why are they necessary? What accounts are subject to adjusting journal entries and why? What are the types of adjusting entries (provide examples)?
Week 2 DQ4
When is the trial balance prepared? What does the trial balance tell you? What does the trial balance not tell you. How would you explain the purpose of the adjusted trial balance?
ACC 290 Week 2 Individual Assignment Week Two Problems and Exercises
the following in WileyPLUS: Exercise E3-4, Exercise E3-9, Problem 3-5A, Problem 3-6A
ACC 290 Week 2 Learning Team Reflection Summary
Week 2 SUMMARY as well !!!!!!
ACC 290 Week 3
Week 3 DQ1
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?
Week 3 DQ2
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?
Week 3 DQ3
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?
ACC 290 Week 3 Individual Assignment Week Three Problems and Exercises
ACC 290 Week 3 Learning Team Reflection Summary
Acc 290 Week 4
Week 4 DQ1
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?
Week 4 DQ2
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 a periodic versus a perpetual inventory system?
Week 4 DQ3
Why do generally accepted accounting principles require the use of lower of cost or market in valuing inventory? 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?
ACC 290 Week 4 Individual Assignment Week Four Problem
ACC 290 Week 4 Learning Team Assignment Financial Reporting Problem, Part 1
ACC 290 Week 4 Learning Team Reflection Summary
ACC 290 Week 4 Summary
ACC 290 Week 5
Complete Course Work
Week 5 DQ1
What is the control environment? How does the control environment affect a company’s 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 where you have worked or have first-hand knowledge?
Week 5 DQ2
How would you describe the key internal controls that should be in place to protect cash in a cash rich environment such as a merchandiser?
Week 5 DQ3
What is the Sarbanes-Oxley Act of 2002? Why did it come about? How have the new rules in the Sarbanes-Oxley Act of 2002 affected the way accounting departments and companies operate? What are some positive outcomes from these changes?
ACC 290 Week 5 Individual Assignment Week Five Exercises
ACC 290 Week 5 Learning Team Assignment Financial Reporting Problem, Part 2
ACC 290 Week 5 Learning Team Reflection Summary
ACC 290 Week 5 Summary