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ACCT 461 Full Course Latest

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ACCT 461 Full Course Latest

ACCT 461 Full Course Latest

ACCT461

ACCT 461 Week 1 Discussion Latest

Week 1: The Foundation of Gaap

Within each discussion thread, one post will be made using Voice Thread, 2-4 minutes in length, explaining either an article on the discussion topic, or assignment work you have done in relation to the discussion topic. Students will review and respond to at least one other student’s Voice Threads, keeping interaction positive, professional and constructive.

Now that we’ve begun our accounting senior project course, looking back over all of your accounting coursework in previous classes, you’ve received a good background on generally accepted accounting principles (GAAP) along with an understanding of how these accounting standards are applied in the United States. At this point, you know that the rules of GAAP are based upon a foundation of many assumptions, principles, and constraints. To begin our postings for the week in this discussion, select any one of these accounting assumptions, principles, or constraints (e.g., cost principle, economic entity assumption, going concern assumption, materiality constraint, full disclosure principle, periodicity assumption, etc.), do a bit of research and explain the concept to us, and also tell us why you believe it’s so important to GAAP. Later in the week, after we’ve exhausted a discussion of these accounting assumptions, principles, and constraints, we’ll move on to address a related aspect of GAAP: the roles of various organizations, including the SEC, FASB, and PCAOB.

ACCT 461 Week 2 Discussion Latest

Week 2: Analyzing a Company

Within each discussion thread, one post will be made using Voice Thread, 2-4 minutes in length, explaining either an article on the discussion topic, or assignment work you have done in relation to the discussion topic. Students will review and respond to at least one other student’s Voice Threads, keeping interaction positive, professional and constructive.

One of your college friends, a computer information systems major, has been telling you that she believes a certain publicly held technology company is going to make a lot of money and ought to be a great investment, but she admits this is just based on her perspective of one of the company’s software products that’s been on the market for a couple of years. As an accounting major, you explain to her that no one has a crystal ball to accurately predict the future of a company with absolute certainty. However, to complement her qualitative view of this company’s value, you agree to quickly put together a more quantitative analysis based on the firm’s recent financial performance. To get us started in this discussion, for your first post, please explain in detail just one of the things you would analyze or look at to assess this company, and be sure to thoroughly articulate your thoughts and approach in terms that your friend, a CIS major, will understand. As the week progresses and we add more comments with additional suggestions from everyone in the class, we’ll build a good list of analytical techniques and assessment methodologies into our discussion so we can later compare and contrast the relative value of all the different ideas posted.

ACCT 461 Week 3 Discussion Latest

Week 3: Building a Budget

Within each discussion thread, one post will be made using Voice Thread, 2-4 minutes in length, explaining either an article on the discussion topic, or assignment work you have done in relation to the discussion topic. Students will review and respond to at least one other student’s Voice Threads, keeping interaction positive, professional and constructive.

A few months ago, you were hired into a professional position by a fairly large organization. Your department’s supervisor has just called you into her office and begins by saying she’s quite impressed with your initiative, communication, and organizational skills, and for this reason she’s tasking you with drafting the department’s budget for the upcoming fiscal year. Of course, as the department supervisor, she is still the one who’s ultimately responsible for approving and executing this budget. However, because she’s so busy managing many departmental issues, she’s specifically delegating to you the legwork involved in composing this budget. Your supervisor is requiring you to submit your first draft of the department’s budget for her approval in 3 weeks. How would you go about creating a solid, realistic budget? Where would you begin? What steps would you take to work this task? What specific challenges might you face in this process, and how would you address each of them? Feel free to begin your postings for this week by addressing any one or more of these questions.

As the week progresses and we accumulate more comments from everyone in the class, we’ll be able to compare all of the ideas and suggestions to further discuss what might be the most workable approach to building a sensible, credible budget for a department. Finally, near the end of the week, we’ll further extend the discussion by asking you to add your thoughts on how drafting a budget for your own small business might differ from the process of budgeting for a single department within a larger organization.

ACCT 461 Week 4 Discussion Latest

Week 4: Creating a Business Code of Conduct

Within each discussion thread, one post will be made using Voice Thread, 2-4 minutes in length, explaining either an article on the discussion topic, or assignment work you have done in relation to the discussion topic. Students will review and respond to at least one other student’s Voice Threads, keeping interaction positive, professional and constructive.

Consider any organization where you’ve worked in the past, where you currently work, or where you might like to work in the future. Tell us a bit about this organization, and then indicate what specific topics, elements, or general items you believe should be included in the content of a business code of conduct drafted specifically for this organization’s employees.

ACCT 461 Week 5 Discussion Latest

Week 5: Transforming Data into Useful Information

Within each discussion thread, one post will be made using Voice Thread, 2-4 minutes in length, explaining either an article on the discussion topic, or assignment work you have done in relation to the discussion topic. Students will review and respond to at least one other student’s Voice Threads, keeping interaction positive, professional and constructive.

Consider any organization where you’ve worked in the past, where you currently work, or where you might like to work in the future. Describe the type of data used by this organization, and tell us how the data are processed and transformed into useful information, such as reports prepared for management or queries executed for users within the organization. Also, is this data processed using manual or automated means?

ACCT 461 Week 6 Discussion Latest

Week 6: U.S. Gaap Versus Ifrs: What’s The Difference?

Within each discussion thread, one post will be made using Voice Thread, 2-4 minutes in length, explaining either an article on the discussion topic, or assignment work you have done in relation to the discussion topic. Students will review and respond to at least one other student’s Voice Threads, keeping interaction positive, professional and constructive.

Select any principle, rule, term, or general aspect that differs under U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS), also known as “i-GAAP”, and explain this difference in your own words. In your comments also please provide your thoughts on the potential implications of this difference, specifically regarding how it might affect the process of financial reporting or the content of a company’s financial statements.

ACCT 461 Week 7 Discussion Latest

Week 7: Tax Reform?

Within each discussion thread, one post will be made using Voice Thread, 2-4 minutes in length, explaining either an article on the discussion topic, or assignment work you have done in relation to the discussion topic. Students will review and respond to at least one other student’s Voice Threads, keeping interaction positive, professional and constructive.

You may be aware that for years there have been groups of people calling for major changes to the federal income tax system in the United States. Do you believe the current federal income tax system should be reformed? How? Why? What would you recommend changing? What impact might this have? Please consider doing a bit of research and putting some thought into your recommendations. Also, consider including your perspective on some related questions, such as:

(1) whether you believe the current system is fair to all taxpayers;

(2) whether you believe the system is too complex;

(3) whether you believe the system is too expensive to administer; and

(4) whether you believe the current system is effective at raising revenue, while not adversely impacting business, personal, and financial decisions.

There may not necessarily be any “right” or “wrong” answers in this threaded discussion, but we’re instead interested in your thoughts on the topic, and please remember to articulate your reasoning. These are the same issues that the courts and Congress tend to consider. What do you think and why?

ACCT 461 Week 1 Case Study Latest

Case 4-1 (“PC Depot”)

Please locate the content for this Case Study at the end of Chapter 4 in our course textbook.

ACCT 461 Week 2 Case Study Latest

Case 13-6 (“Butler Lumber Company”)

Please locate the content for this Case Study at the end of Chapter 13 in our course textbook.

ACCT 461 Week 3 Case Study Latest

Case 24-1 (“Body Glove”)

Please locate the content for this Case Study at the end of Chapter 24 in our course textbook.

1. For what purposes does Body Glove use its budgeting system? Which purposes are emphasized?

2. Trace the steps in the development of the budget at Body Glove. What are the key events that relate to the timing of the steps in the budgeting process?

3. The case says that Body Glove never prepared a budget prior to fiscal year 1991. How can a company like Body G love function effectively without a budget, or can it?

4. What changes to Body Glove’s budgeting and review processes would you recommend, if any?

5. If Body Glove continues to grow and, perhaps, diversifies, what changes will have to be made to the budgeting an•

ACCT 461 Week 4 Case Study Latest

Case 7-5 (“Accounting Fraud at WorldCom”)

Please locate the content for this Case Study at the end of Chapter 7 in our course textbook.

Case 7–5: Accounting Fraud at WorldCom

1. Explain the nature of the accounting fraud.

2. What are the pressures that lead executives and managers to “cook the books?”

3. What is the boundary between earnings smoothing or earnings management and fraudulent reporting?

4. Why were the actions taken by WorldCom managers not detected earlier? What processes or systems should be in place to prevent or detect quickly the types of actions that occurred in WorldCom?

5. Were the external auditors and board of directors blameworthy in this case? Why or why not?

6. Betty Vinson: victim or villain? Should criminal fraud charges have been brought to her? How should employees react when ordered by their employer to do something they do not believe in or feel uncomfortable doing?

ACCT 461 Week 6 Case Study Latest

Case 7-4 (“Silic: Choosing Cost or Fair Value on Adoption of IFRS”)

Please locate the content for this Case Study at the end of Chapter 7 in our course textbook.

1. Which method would most transparently reflect Silic’s real value?

2. How would the two distinctive accounting models impact on Silic’s financial statements?

ACCT 461 Week 7 Case Study Latest

Case 10-2 (“Silver Appliance Company”)

Please locate the content for this Case Study at the end of Chapter 10 in our course textbook.

ACCT 461 Week 8 Final Course Presentation Latest

Instructions

Background

In the ACCT461 senior project, students submit an extensive amount of written analytical work addressing six case studies carefully selected from the course textbook. The course Doc Sharing tab contains a document titled “ACCT461 Case Study Instructions” explaining the detailed requirements for these case studies. In addition to the six case studies, students must also separately complete and collaborate one graded oral presentation, listed in the course Syllabus as the Final Course Presentation, during Week 8. This document provides the instructions for the Final Course Presentation. However, if you have not already done so, please be sure to first review the “ACCT461 Case Study Instructions”, available in the files area, before subsequently reviewing these instructions for the final course presentation. The case study instructions will separately provide some important background to help you better understand the requirements of the Final Course Presentation instructions detailed in this document.

Description

For the Week 8 Final Course Presentation, each student will collaboratively produce and orally deliver a PowerPoint presentation discussing one of the six case studies worked during the accounting senior project course. It’s the student’s choice as to which one of the six case studies to present for the Final Course Presentation. Students taking this course onsite will orally present their Final Course Presentation, using their own set of PowerPoint slides, in the classroom to the professor and classmates during the Week 8 class meeting. Students taking this course online will prepare their PowerPoint presentation by additionally implementing the audio narration feature built into PowerPoint. Further detail is explained below under Requirements.

Requirements

Onsite course: onsite students will orally present a 10-minute PowerPoint presentation “live” in the classroom during class time in Week 8.

Online course: online students will record and submit a 10-minute PowerPoint presentation additionally implementing the audio narration feature built into PowerPoint. Detailed instructions for this process are available through the iConnect Presentation link under Course Home. The iConnect Presentation page includes links to more detailed instructions for creating and recording a PowerPoint presentation using audio narration.

For either the onsite or online course delivery mode, the PowerPoint presentation should include slides displaying the following topics pertaining to the selected case study:

  • Cover slide including the student’s name, the date, course number (ACCT461), and the case study title and number (e.g., Case Study 4-1)
  • Overview slide listing topics to be discussed
  • Concise synopsis of the case study’s fact pattern
  • Student’s assessment regarding the key questions, issues, and/or dilemma in the case study
  • Conclusions (including summary of answers and/or recommendations)
  • References (as needed)

Again, please note that this is a 10-minute presentation, so it’s highly advisable that you plan what you want to say, give some thought to how you want to say it, and carefully choose your words to achieve a succinct and impactful delivery, just as you would in a professional setting for a presentation to clients or senior staff in an organization.

Please remember that the PowerPoint presentation must be uploaded to the Week 8 Dropbox prior to the classroom presentation for onsite students or by Thursday evening, 11:59 p.m. MT of Week 8 for online students.