Acc 422 Week 2 Acc422 Week 2 Essay

1421 Words Oct 14th, 2015 6 Pages
ACC 422 Complete Course ACC422 Complete Course
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ACC 422 WEEK 1 DQ 1

Week 1 – DQ 1
Consider how an organization must manage cash, receivables, and inventory. Which of the three variables is the most important to manage? Is one more susceptible to fraud and errors than the others? Explain your answer.
How would a misstatement in each affect the organization?
ACC 422 WEEK 1 DQ 2

Week 1 – DQ 2
What is the perpetual method of tracking inventory?
How does it differ from the periodic method of tracking inventory?
Why would a company choose one method
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Explain your answer.
ACC 422 WEEK 2 DQ 2

Week 2 – DQ 2
What are the criteria for capitalization of fixed assets?
What items are included in the cost of a fixed asset?
Should interest be included in the cost of a fixed asset? Explain why or why not.
ACC 422 WEEK 2 DQ 3

Week 2 – DQ 3
How do we account for the disposition of fixed assets?
What are the differences in how the exchanges of assets are handled, pending on whether they are similar or dissimilar?
What is the rationale for these differences?
What is the impact to the companies’ financial statements?
ACC 422 WEEK 2 LEARNING TEAM ASSIGNMENT FROM THE TEXT P7-10 AND E8-25

Resource: Intermediate Accounting
Prepare written responses to the following assignments from the text:
Ch. 7: Problem P7-10
Ch. 8: Exercise E8-25
ACC 422 WEEK 2 SUMMARY

Post a 150 words summary what you have learned this week

ACC 422 WEEK 2 INDIVIDUAL ASSIGNMENT E7-2, E7-8,Q13,E8-5 AND E8-14

Resource: Intermediate Accounting
Prepare written responses to the following assignments from the text:
Ch. 7: Exercises E7-2 & E7-8
Ch. 8: Question 13 and Exercises E8-5 & E8-14
ACC 422 WEEK 3 DQ 1

Week 3 – DQ 1
What is the purpose of depreciation?
Does the book value of a fixed asset (cost minus accumulated depreciation) communicate to a user what the asset is worth? Explain why or why not.
Should the financial statements reflect the value of fixed assets? Explain why or why not

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