ACC 201 Principles of Financial Accounting
Chapter 1 and 2 Practice Exercises: 1-2, 1-4, 1-9, 1-12, 1-18, 2-1, 2-3, 2-19, 2-22, 2-25.
Memo to Blair
Complete the writing assignment, ATC 1-4 from Chapter 1 and submit to your instructor.
Week 2 Discussion 1: Fraud
Discuss in general the ethical issues when employees are tempted to defraud their employer or when companies defraud the public. What sort of situations can lead to this behavior? What are the costs of fraudulent behavior? What kind of controls can help prevent ethical problems? Cite an example of unethical behavior (not necessarily limited to fraud) that you are aware of from personal experience or have read about that is related to business. After you have posted your original thread be sure to respond to at least two other students’ original threads.
Week 2 DQ2 Debit Credit
Read and answer Chapter 4, Question 21 on the effects of debit and credit memo’s on the Cash account. Explain in 200 words. Respond to at least two of your classmates’ postings
Week 2 Chapter 3 Problems
Complete the following problems from Chapter 3 and submit to your instructor. These problems will be graded for accuracy. Problems: 3-22, 3-25
Week 2 Chapter 4 Problems
Complete the following problems from Chapter 4 and submit to your instructor. These problems will be graded for accuracy. Problems: 4-20, 4-21
Week 2 Assignment FASB Paper
Go to the website of the Financial Accounting Standards Board, www.fasb.org. Write a paper, in at least 400 words, that describes the mission of FASB, how it is organized, how it functions, and who grants the authority of FASB to issue accounting standards. Also, research the most recent accounting issues that FASB is taking into consideration.
Week 3 Assignment GAAP and Ethics
Read ATC 6-5 of Chapter 6 and answer part a. Additionally, given what you have learned about financial accounting so far, think of as many ways that you could “adjust” the financial records to make your company look better yet still follow GAAP and ethical guidelines. (Hint: think of the choices that can be used in the various accounting methods you have learned: i.e., inventory valuation methods.)
Week 3 Chapter 5 Problems
Complete the following problems from Chapter 5 and submit to your instructor. These problems will be graded for accuracy. Problems: 5-24, 5-26
Week 3 Chapter 6 Problems
Complete the following problems from Chapter 6 and submit to your instructor. These problems will be graded for accuracy. Problems: 6-27, 6-28, 6-32
Week 3 Discussion: Credit Sales and Collections
Review ATC 5-4 of Chapter 5 and post your thoughts on the question regarding the issues and procedures that a business must consider when dealing with credit sales and collections. Summarize your recommendations in memo form. Respond to at least two other students with critique and challenges to their recommendations.
Week 4 Chapter 7 Problems
Complete the following problems from Chapter 7 and submit to your instructor. These problems will be graded for accuracy. Problems: 7-26, 7-27, 7-28
Week 4 Chapters 8 Problems
Complete the following problems from Chapter 8 and submit to your instructor. These problems will be graded for accuracy. Problems: 8-18, 8-23
Week 4 Discussion : Enron
Read ATC 7-5 in Chapter 7. This situation is very similar to what a company called Enron did several years ago. Use the internet or the university library to research exactly what Enron did in their accounting procedures and what eventually happened to the company. Post your findings and understanding of Enron’s story and respond to two other students’ postings with enhancements or additions to the Enron situation.
Week 4 Memo to Baku and Hanson
Read ATC 8-4 in Chapter 8 and write a memo describing the advantages and disadvantages of organizational forms. You may research other sources regarding accounting internal controls. The paper should be at least 400 words and should include your personal observations and conclusions.
Week 5 Chapter 9 Problem
Complete the following problem from Chapter 9 and submit to your instructor. Problem: 9-23. This problem will be graded for accuracy
Week 5 Stock Options Paper
In recent months there have been many news stories in the press about executive compensation with stock options. This type of compensation occurs when an executive is granted the “option” to purchase the company’s stock at a certain price sometime in the future. The theory is if the executive is effective his management skills will lead to a higher stock price. As a reward the executive can purchase the stock at the earlier, lower price and lock in an automatic gain in his shares. However, certain companies have been falsifying the actual date when the stock options are granted to their executives. Research this situation on the internet or through the university library. Write a 400-word paper describing the situation and the implications of the practice including any legal or ethical ramifications.
Week 5 Discussion: Financial Analysis
Read ATC 9-3 in Chapter 9 and post your analysis of Whirlpool’s acquisition of Maytag. Respond to at least two other students with critiques and challenges to their assertions