ACCT 504 COMPLETE WEEK DISCUSSION LATEST-DEVRY
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ACCT 504 Complete Week Discussion Latest-DeVry
ACCT504
ACCT 504 Week 1 Discussion Latest-DeVry
Financial Reporting Environment, Financial Statements, and
Ratios (graded)
What is the purpose of Accounting? Who are the users of
accounting information?
ACCT 504 Week 2 Discussion Latest-DeVry
Accounting Equation, Accounting Cycle, and Accrual Accounting
(graded)
In this area, we will discuss the significance of the accounting
equation, the rules of debit and credit, and the steps in the accounting cycle.
We will talk about recording of transactions, normal balances, and the creation
of the trial balance.
Let’s begin by asking this question: What is the role of the
accounting equation in the analysis of business transactions?
ACCT 504 Week 3 Discussion Latest-DeVry
Merchandising Operations, Income Statements, and Inventory
Cost-Flow Assumptions (graded)
In this area, we will discuss the accounting for inventory
transactions of merchandising companies, the two formats of preparing the
income statement, and how to evaluate the profitability of a merchandising
company. We will also discuss how companies determine the year-end inventory
value and cost of goods sold using one of the cost-flow assumptions. Finally,
we will also examine the impact of choosing a certain cost-flow assumption on
the tax liability and other financial statement numbers of a company.
Let’s begin with this question: How is the income statement of a
merchandising company different from that of a service company?
ACCT 504 Week 4 Discussion Latest-DeVry
Internal Control, Reporting Cash, and Accounting for Receivables
(graded)
In this area, we will talk about the importance of internal
control in a business organization and the reporting of cash on the balance
sheet as well as managing receivables and estimating uncollectible accounts.
What is internal control, and what are the objectives of a well-designed
internal control structure in an organization?
ACCT 504 Week 5 Discussion Latest-DeVry
Plant Assets, Intangibles, and Accounting for Liabilities
(graded)
Companies have a significant amount of investment in long-lived
assets, which include property, plant and equipment (commonly referred to as
plant assets), and intangible assets. We will also discuss different types of
liabilities and understand how to account for and report those liabilities.
Let’s begin by talking about plant assets. Can you tell us what
kind of plant assets are used in your company or place of business? Do you have
an estimate of the amount invested in those plant assets?
ACCT 504 Week 6 Discussion Latest-DeVry
Accounting for and Reporting Equity and the Statement of Cash
Flows (graded)
Stockholders’ equity is an important heading in a corporate
Balance Sheet. Let’s begin the discussion of stockholders’ equity by asking:
How is the stockholders’ equity section of a corporate Balance Sheet different
from that in a single-owner business?
Different Tools of Financial Analysis (graded)
There are different tools for analyzing the financial statements
of a company, such as horizontal analysis, vertical analysis, ratios for
measuring financial health and profitability, and so forth. Before we begin
using these tools, however, it is important to know the purpose of each tool.
Why do we need different tools for analyzing the financial
statements? Don’t the numbers in the financial statements speak for themselves?
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