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ACC 616 Full Course GCU

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ACC 616 Full Course GCU

ACC 616 Full Course Disussions GCU

ACC 616 Topic 1 DQ 1

There are different types of accountants (corporate accountants, auditors, tax accountants, etc.). Choose one of these types of accountants and discuss the following:

  1. Where would you start your research?
  2. What other resources are available to you to help you find an appropriate solution?
  3. What happens when you cannot find the solution to your accounting problem?

ACC 616 Topic 1 DQ 2

What role does accounting and auditing research play in the accounting profession? Why are good communication skills necessary for accountants? What do you think the most difficult aspect of accounting/auditing research will be?

ACC 616 Topic 2 DQ 1

Refer to the assigned reading, “A Plain English Handbook: How to Create Clear SEC Disclosure Documents.” What do you believe is the most important element in achieving transparent and readable documents? Be specific in your references to the reading.

ACC 616 Topic 2 DQ 2

Go to the FASB Codification and look under Revenue. Look through the options, choose a subtopic, and give some notes on what is required for recognition of revenue or for disclosure. Try to choose information that has not yet been posted by another student. In your responses, identify the similarities and differences between the information provided in your post and the post of your classmate. Discuss any difficulties you had using the FASB Codification.

ACC 616 Topic 3 DQ 1

After reading “Agenda Formation and Accounting Standards Setting: Lessons from the Standards Setters” by Howieson, what is your opinion of the agenda formation process? What role do you think lobbying should play in setting the agenda for accounting standard-setting bodies and why?

ACC 616 Topic 3 DQ 2

Prepare a compliance report of the company you chose for your Annual Report Project. Using your company’s financial statements and notes to the financial statements, evaluate the use of GAAP for income recognition, identify the relevant code sections, any departures from GAAP, and the authority used to justify the departures. In addition, evaluate the reasoning for the company choosing particular accounting methods.

ACC 616 Topic 4 DQ 1

Using the one of the GCU Library’s databases, read and summarize an article related to your APR company’s business or industry. Following the research process, identify the issue or problem addressed in the article, the evidence used to evaluate the issue or problem, the conclusion reached, and the evidence/analysis used to support that conclusion. Include a citation and a direct link to the article in the database. In responses to other students’ summaries, you should discuss whether you believe the authors followed the research process and sufficiently defended and supported their conclusion. Does this article have any implications for accounting or business practice in your own business or industry?

ACC 616 Topic 4 DQ 2

After reading “An Examination of Potential Changes in Ratio Measurements Historical Cost Versus Fair Value Measurement in Valuing Tangible Operational Assets,” by Baker, discuss the implications of using fair value measurements for long-lived assets. Comment on the advantages and disadvantages of each method. Which method do you think should be used and why?

ACC 616 Topic 5 DQ 1

Choose an IFRS, IAS, IFRIC, or SIC, other than revenue recognition, and locate the related standard in the FASB Codification. What are the differences between the two standards? What are the similarities? In replying to your classmates, indicate how close you think those particular standards are to convergence. You may need to do some additional research for current information. If you do, make sure you cite your source.

ACC 616 Topic 5 DQ 2

Go to the IFRS website (http://www.ifrs.com/convergence_landing.html) and read about the Convergence efforts. Discuss the current state of the convergence efforts followed by your opinion on whether or not the US should convert from GAAP to IFRS. Provide examples in your post to support your for or against postion regarding convergence. Try to choose information that has not yet been posted by another student. In your responses, identify the similarities and differences between the information provided in your post and the post of your classmate.

ACC 616 Topic 6 DQ 1

Access a recently issued SEC Accounting and Audit Enforcement Release related to a fraud action (https://www.sec.gov/divisions/enforce/friactions.shtml) and determine incentives or pressure to commit the fraud, accounting issues, and the motive for the fraud.

ACC 616 Topic 6 DQ 2

There have been a growing number of very large financial frauds discovered in recent years—mortgage fraud, the Madoff scandal, and Enron to name a few. Describe why you believe fraud training is important for all accountants. Name a particular area of fraud training you believe would be beneficial to your chosen area of accounting.

ACC 616 Topic 7 DQ 1

Using ProQuest Accounting and Tax, through the GCU Library (http://search.proquest.com.library.gcu.edu:2048/accountingtaxbanking/business/fromBasicHomePage?accountid=7374), find an article about the capital gains tax that was published within the past year. Provide a brief summary of the article and discuss the main concerns of the author. Do you agree with those concerns? Why or why not? In responses to your classmates, compare the conclusions and concerns in your article to someone else’s article.

ACC 616 Topic 7 DQ 2

Choose a tax issue specifically related to your ARP business or industry. Utilize at least three different tax websites (types of sources) discussed in Chapter 7 of Accounting and Auditing Research: Tools and Strategies, and summarize the information on the tax issue provided there. Do the websites agree on this issue or are there differences? Which of these websites provides the primary authority on the issue?

Some examples of tax issues include:

  1. Deductible meal and entertainment expenses
  2. Deduction for foreign travel
  3. Tax consequences of an athletic scholarship
  4. Taxation of long-term capital gains
  5. Recognition of income on extinguishment of debt
  6. Whether an accrual basis securities firm has gross income under sec. 451(a) on the trading date or the next year on the settlement date when all the work is performed, payment is due, and money received.

ACC 616 Topic 8 DQ 1

Reread your response to Topic 1 DQ 1. Respond here and answer the following questions:

  1. What role does accounting and auditing research play in the accounting profession?
  2. Why are good communication skills necessary for accountants?
  3. What do you think the most difficult aspect of accounting/auditing research will be?

ACC 616 Topic 8 DQ 2

After reviewing both research standards for the profession and an individual company’s disclosures:

  1. What do you believe are the most important skills for a candidate in the accounting profession?
  2. What skills will you work hardest to obtain throughout the remainder of your education?
  3. How does this compare to what you believed when you entered the class?

 

ACC 616 Full Course Assignments GCU

ACC 616 Topic 1 Annual Report Project Section 1

Details:
The Annual Report Project will be completed in sections over the duration of this course. You will submit each section individually, as assigned, and then submit the completed comprehensive assignment in Topic 8.Obtain the most recent Form 10-K of a U.S. corporation traded on the New York Stock Exchange (NYSE) or National Association of Securities Dealers Automated Quotations (NASDAQ). The corporation must sell a product and carry inventory on its balance sheet. You can access public company Form 10-K reports on your specific company’s website under Investor Relations.For Section 1 of the Annual Report Project, prepare a professionally written summary of 250-500 words. Include the following in your submission:

  1. Provide an overview of the company you have chosen. What business is it in? What does it sell? Who are its competitors? In what geographical areas does it conduct business? Discuss any cyclicality associated with its product sales. Include any other items relevant to this particular business or its industry.
  2. Locate a press release or article on the company you chose.What was the press release regarding and why is it significant for the company? Focus on any current or future financial implications. What did the article state about the company and how might the information in the article influence the company’s financial performance in the future?

You are required to integrate at least two academic sources in the summary.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

Refer to “Annual Report Project – Section 1 Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC-616-R-T1ARPsection1.xlsx

ACC 616 Topic 2 Annual Report Project Section 2

Details:
For this portion of the Annual Report Project you will read the “Management Discussion and Analysis” in the Form 10-K for your company of choice. Prepare a professionally written summary of 250-500 words. Include the following in your submission:

  1. Provide a summary of at least four key points addressed by management in this section of the Form 10-K.
  2. Analyze whether you think the summary provided by management accurately reflects the financial results of your company over the past year? Why or why not?

You are required to integrate at least one academic source in the summary.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

Refer to “Annual Report Project – Section 2 Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC-616-R-T2ARPsection2.xlsx

ACC 616 Topic 2 Memo to the File

Details:
Go to www.fasb.org, click on the Standards tab, then Standards Issued in 2016, and choose one of the standards listed.In memo format, summarize the new standard and the potential impact of that standard’s implementation on internal users and external users (see pages 7 and 59-60 in the textbook). Be sure to address possible unintended consequences.Your response should be 250-500 words. You will cite at least one source on the standard, from an acceptable academic source. You will also need to find at least one news or magazine article on the topic.For this assignment, please use the “Memo Template” provided with this course for an example memo format. See the example in the Topic 2 Lecture, and information in the textbook for how to write a memo.While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.Refer to “Memo to the File Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.ACC-616-R-Topic 2 Memo to the File.xlsx ACC-616-RS-MemoTemplate.docx

ACC 616 Topic 3 Annual Report Project Section 3

Details:
Locate and analyze your company’s Form 10-K, for the last 3 years. This document is located on the company’s website under Investor Relations. Prepare the following requirements as individual worksheets within an Excel spreadsheet:

  1. Horizontal analysis of the prior 3 years’ income statements and balances sheet.
  2. Vertical analysis of the prior 3 years’ income statements and balance sheets.

In a summary of 500-750 words, you will analyze the financial strengths and weaknesses of the company you are examining, based on the results of the horizontal and vertical analyses Your analysis should be more than just a restatement of the results of the ratios. The analysis should provide some possible reasons for why the ratios increased or decreased over the last 3 years. Consider the relationships between the types of accounts and correlations that should (or should not) occur. This section will be included as supplemental schedules to the analysis you completed in Topic 2, in your final project.

Your submission will consist of two items for this assignment:

  1. An Excel file with separate tabs for the horizontal and vertical analyses.
  2. A Word document with your analysis summary.

While APA style is not required for the body of this assignment, solid academic writing is expected, any documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

Refer to “Annual Report Project – Section 3 Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC-616-R-T3ARPsection3.xlsx

ACC 616 Topic 4 Annual Report Project Section 4

Details:
Using your company’s Form 10-K from the Annual Report Project – Section 3 assignment, analyze the information and include the following items as supplemental schedules to the analysis. These schedules should be prepared as individual worksheets within an Excel spreadsheet.Provide a calculation of at least three significant liquidity ratios:

  1. Current ratio
  2. Acid test ratio
  3. Cash ratio
  4. Current cash debt coverage ratio
  5. Working capital

Provide a calculation of at least three significant long-term debt-paying (coverage) ratios:

  1. Times interest earned
  2. Debt ratio
  3. Debt/Equity ratio
  4. Fixed charge coverage

In a summary of 500-750 words, analyze the financial strengths and weaknesses of your company based on the results of the liquidity and long-term debt ratios analysis.

Your analysis should be more than just a restatement of the results of the ratios. The analysis should provide some possible reasons for why the ratios increased or decreased over the last 3 years. Consider the relationships between the types of accounts and correlations that should (or should not) occur with the ratios.

You will submit two items for this assignment:

  1. An Excel file with separate tabs for the liquidity and coverage ratio calculations.
  2. A Word document with your analysis.

While APA style is not required for the body of this assignment, solid academic writing is expected, any documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

Refer to “Annual Report Project – Section 4 Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC-616-R-T4ARPsection4.xlsx

ACC 616 Topic 5 Annual Report Project Section 5

Details:
Using your company’s Form 10-K from the Annual Report Project – Section 3 assignment, analyze your company’s financial statements for the last 3 years. Include the following items as supplemental schedules to your analysis. Prepare these schedules as individual worksheets within an Excel spreadsheet:Prepare a calculation of at least three significant activity (asset) ratios:

  1. Average collection period
  2. Accounts receivable turnover
  3. Days in inventory
  4. Inventory turnover

Prepare a calculation of at least three significant profitability ratios:

  1. Net profit margin ratio
  2. Return on assets
  3. Gross profit margin ratio
  4. Return on total equity
  5. Total asset turnover

In a summary of 500-750 words, analyze the financial strengths and weaknesses of your company based on the results of the profitability and activity ratios analyses. Your analysis should be more than just a restatement of the results of the ratios. The analysis should provide some possible reasons for why the ratios increased or decreased over the time analyzed. Consider the relationships between the types of accounts and correlations that should (or should not) occur with the ratios.

You will submit two items for this assignment:

  1. An Excel file with separate tabs for the activity and profitability ratio calculations.
  2. A Word document with your analysis.

While APA style is not required for the body of this assignment, solid academic writing is expected, any documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

Refer to “Annual Report Project – Section 5 Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC-616-R-T5ARPsection5.xlsx

ACC 616 Topic 5 Benchmark Convergence Memo to the Client

Details:
Either subscribe (fee) to IFRS or register for the free limited access at http://www.iasb.org/IFRSs/IFRS.htmWrite a convergence memo (500-750 words) to the client discussing the current state of convergence between IFRS and U.S. GAAP on revenue recognition. You may use the “Memo Template” provided. In your memo, be sure to address the following:

  1. Describe the similarities and differences in accounting for revenue recognition under the international standards and the FASB standards.
  2. Identify (in general terms) the possible impact on the financial statements of your specific company of changing from FASB to IFRS.
  3. How should these items be disclosed under IFRS and FASB?

You must integrate at least two academic sources, in addition to the AICPA website and the IFRS website, in your discussion.

While APA style is not required for the body of this assignment, solid academic writing is expected, any documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC 616 Topic 6 Annual Report Project Section 6

Details:
For this assignment, you will refer to the Notes located on the Form 10K for your chosen company. You will find this information in the financial statements for the company. In a professionally written document, discuss what the financial statement notes tell the user about the topics you choose from the list below.Pick three of the following topics:

  1. Equity (common stock, treasury stock, and dividends)
  2. Investments (held-to-maturity, available-for-sale, etc.)
  3. Revenue Recognition (percentage of competition, installment sales, etc.)
  4. Full Disclosure (segment reporting and subsequent events)
  5. Pensions and Retirement Plans
  6. Leases (capital and operating)

For each topic, address the following items in 250-500 words for a total word count of 750-1,500 for all three topics:

  1. A discussion of the topic. Include a description and the significance to GAAP.
  2. A summary of the financial impact of the topic for your company. Describe how it is reported on the balance sheet and income statement.
  3. A summary on the importance for your company to disclose this item to users.

While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

Refer to “Annual Report Project – Section 6 Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC-616-R-T6ARPsection6.xlsx

ACC 616 Topic 6 Benchmark Researching Audit Issues Case Study

Details:
For this assignment, choose one of the three cases provided in the “Topic 6 Case Studies – Researching Audit Issues” resource and complete the assignment according the directions provided below for the one case you have selected.Assume you work for the firm and that your manager has requested you draft a professional memo for the file to support the firm’s position. For the case you have selected, determine the auditing issue applicable, based on the facts presented. Once you determine the auditing issue, locate the applicable Financial Accounting Standards (FASB) or American Institute of Certified Public Accountants (AICPA) standards associated with the treatment of the issue. The memo should accomplish the following:

  1. Summarize the auditing issue.
  2. Present the rules as per FASB or the AICPA.
  3. Provide a conclusion as to the action necessary to fix the auditing issue.

The memo should be a minimum 500 words, and address the firm’s position and give your recommendation. You may use the “Memo Template” for this assignment.

While APA style is not required for the body of this assignment, solid academic writing is expected, any documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC-616-RS-MemoTemplate.docx ACC-616-RS-CaseStudiesTopic6Audit.docx

The Notes to the Financial Statements are an integral part of the financial statements. Companies must provide an overview of the significant accounting policies used and any other information of importance to users of the financial statements. Accountants are often required to write these notes to financial statements for their clients or the company for which they work. The goal of this assignment is to provide some practice writing Notes to Financial Statements.

For this assignment, you will refer to the three topics you chose to write about in your Annual Report Project – Section 6. You will need to rewrite the Notes to the Financial Statements for the three topics you summarized in the Annual Report Project – Section 6 assignment.

You may use your company’s current Notes to Financial Statements as a guide, but you are required to write  Notes to Financial Statements (minimum of 500 words) using your own of your knowledge of the topic and summarize the note accordingly.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

Refer to “Annual Report Project – Section 7 Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC-616-R-T7ARPsection7.xlsx

ACC 616 Topic 7 Researching Tax Issues Case Study

Details:
For this assignment, choose one of the three cases provided in the “Topic 7 Case Studies – Researching Tax Issues” resource and complete the assignment according the directions provided below for the one case you have selected.Assume you work for an accounting firm and your client has requested a professional memo regarding a tax issue. Your response should be at least 500 words, but it should not exceed three pages. You may use the “Memo Template” resource for this assignment.While APA style is not required for the body of this assignment, solid academic writing is expected, any documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.Refer to “Topic 7 Case Studies – Researching Tax Issues Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.ACC-616-R-T7TaxCaseStudies.xlsx ACC-616-RS-CaseStudiesTopic7Tax.docx

ACC 616 Topic 8 Annual Report Project Final

Details:
For this assignment, you will assimilate all of the separate sections of your Annual Report Project into one document, which will be broken into two sections.The ratio calculations section should be in an Excel file with a tab for each ratio type (horizontal, vertical, liquidity, etc.).The sections from Topics 1, 3, 4, and 5 should be provided in a Word document, including the following:

  1. Locate a competitor that is involved in the same business as your chosen company. Provide a competitor analysis that includes at least three ratios of which you will compare to your company’s results from Topics 3, 4, and 5 to a competitor’s results for the same ratios. Examine whether your company performed better or worse, compared to the competitor. How can you tell? Describe your findings.
  2. Provide an industry analysis that includes at least three ratios. Compare to your company’s results from Topics 3, 4, and 5 to the industry results for the same ratios. Examine whether your company performed better or worse, compared to the industry. How can you tell? Describe your findings. Use the GCU Library to access Hoovers, LexisNexis, or another business database to locate industry averages for the industry in which your company competes.
  3. Provide an investment recommendation that examines whether or not your company is a good investment decision.

You will need to list all resources you used in previous sections of the Annual Report Project, and you are required to integrate at least three academic sources for the final summary in your paper.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

Refer to “Annual Report Project – Final Rubric” prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.

ACC-616-R-T8AnnualReportProjectFinal.xlsx

ACC 616 Topic 8 Purchase Gleim Materials

Details:
You must purchase access to the Gleim Professor-Led Premium Review System for AUD, BEC, FAR, and REG before enrolling in your next course.Follow this link to purchase access: https://www.gleim.com/?promoID=GCU-CPA-PREMAfter you purchase the Gleim materials, you will be provided a separate link applicable to your specific course section when you enroll in ACC-622.Create a screen shot of your confirmation e-mail and submit it to your instructor.

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