ACC/497: Advanced Topics In Accounting Research

Assigments!

Assignment and Homework

It is due per week. 

in This document it has homework and assignments label by week. 

Assignments are due every Thursday and Homework on Saturdays.

Respond to the following in a minimum of 300 words:

• Describe some civil and criminal consequences if CPAs/auditors fail to follow professional standards.
• Summarize some things that CPAs can do to limit their liability and prevent lawsuits.
• Determine whether the liability risk to CPAs/auditors is appropriate, too high, or too low.

Minimum 550 words per Discussion question. 

It is one per week, first one will be due tomorrow 06/02/22

then each one per week after.

See the attachment for the DQ instructions for each week.

1. DQ DUE EVERY WEEK, SAME AS THE LAST PAPER

THANK YOU!

Week 3 DQ

Respond to the following in a minimum of 275 words:

Imagine that you’ve been asked to explain 1 of the major accounting ratios to a group of high school students who have no background in business or accounting but are eager to learn. Choose 1 of the following ratios, and describe how you would explain it in your own words, using a specific example: 

·       Current Ratio

·       Asset Turnover

·       Profit Margin on Sale

Week 4 DQ

Respond to the following in a minimum of 275 words:

A statement of cash flows classifies cash receipts and cash payments into what 3 categories of activity? For each category of activity, share 2 specific examples of both cash receipts and cash payments based on 2 different business scenarios of your choosing. 

The business scenarios you choose can be based on real or fictional companies. For example, if you chose Uber and the fictional MarksABunch Art Supplies company, you would share 6 examples of cash receipts and cash payments per company, each broken out into one of the 3 different categories of activity presented in a statement of cash flows. 

Instructor note – See below for a suggested approach on answering this DQ. 

Company 1

Operating Activities:

Cash receipt example

Cash payment example

Investing Activities:

Cash receipt example

Cash payment example

Financing Activities:

 Cash receipt example

Cash payment example

Repeat for Company 2

Week 5 DQ

Respond to the following in a minimum of 275 words:

Many of us apply the time value of money in our personal lives – for example, when we invest dollars in a young child’s bank account earmarked for his or her eventual college education.

·       Share an explanation of the time value of money in your own words. 

·       What criteria do accountants use to decide whether to use present or future values in accounting statements?

1. Different question to answer, 375 words each.