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ACC 497 GENIUS Empowering and Inspiring/acc497genius.com

This Tutorial contains knowledge Check as well (Please check Questions) ACC 497 Final Exam Guide (New, 2017) ACC 497 Week 1 Knowledge Check ACC 497 Week

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ACC 497 GENIUS Empowering and Inspiring/acc497genius.com

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  1. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com

  2. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Entire Course (With New Final Guide) FOR MORE CLASSES VISIT www.acc497genius.com This Tutorial contains knowledge Check as well (Please check Questions) ACC 497 Final Exam Guide (New, 2017) ACC 497 Week 1 Knowledge Check ACC 497 Week 2 Team Accounting for Employee Stock Options ACC 497 Week 2 Accounting Ethics ACC 497 Week 2 Knowledge Check ACC 497 Week 3 Team Assignment Interest Cost ACC 497 Week 3 Accounting for Investments ACC 497 Week 3 Knowledge Check ACC 497 Week 4 Team Goodwill ACC 497 Week 4 Income Tax Implication of Capital Investment Decisions ACC 497 Week 4 knowledge Check ACC 497 Week 5 Signature Assignment FARS Case ACC 497 Week 5 Knowledge Check ACC 497 Individual Assignment FASB Codification System Orientation Paper ACC 497 Week 1 Case Study Cash Basis or Accrual Basis? (2 Sets) ACC 497 Week 1 DQ 1 ACC 497 Week 1 DQ 2 ACC 497 Week 2 Individual Assignment Financial Statements Paper Part I (2 Papers) ACC 497 Week 2 Team Assignment Case Study Assignment (2 Papers) ACC 497 Week 2 DQ 1 ACC 497 Week 2 DQ 2 ACC 497 Week 3 Individual Assignment

  3. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Final Exam Guide (New, 2017) FOR MORE CLASSES VISIT www.acc497genius.com An unmodified audit opinion rendered on a governmental unit's basic financial statements means those statements: Have been certified as free from error. Present the entity's financial position fairly in conformity with GAAP. Did not require modifications by the auditor. All of the above. 2 Melinda invests $200,000 in a City of Heflin bond that pays 6 percent interest. Alternatively, Melinda could have invested the $200,000 in a bond recently issued by Surething Inc., that pays 8 percent interest with similar risk and other nontax characteristics to the City of Heflin bond. Assume Melinda’s marginal tax rate is 25 percent. (Leave no cells blank - be sure to enter "0" wherever required.) a. What is her after-tax rate of return for the City of Heflin bond? 3. One of the primary purposes of the Single Audit Act of 1984 (amended in 1996) is to: Promote the efficient and effective use of audit resources.

  4. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 1 Case Study Cash Basis or Accrual Basis? (2 Sets) FOR MORE CLASSES VISIT www.acc497genius.com This Tutorial contains 2 different Papers Resources: Brain Teaser 4: Cash Basis or Accrual Basis? in Ch. 4 of Mastery of the Financial Accounting Research System (FARS) Through Cases Write a 350- to 700-word response to the questions that follow the case study. Note. Although Brain Teaser 4 references the Financial Accounting Research System, refer to the Financial Accounting Standards Board when answering the questions

  5. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 1 DQ 1 FOR MORE CLASSES VISIT www.acc497genius.com What is the FASB Codification System? What is the purpose of the FASB Codification System? How can it be used to make better accounting decisions?

  6. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 1 DQ 2 FOR MORE CLASSES VISIT www.acc497genius.com What are Generally Accepted Accounting Principles (GAAP)? How do GAAP affect financial reporting? How might GAAP need to change to accommodate today’s dynamic business environment?

  7. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 1 FASB Codification System (2 Papers) FOR MORE CLASSES VISIT www.acc497genius.com ACC 497 Week 1 FASB Codification System Access the FASB Online website and familiarize yourself with the contents. Write a 350- to 700-word paper in which you answer the following questions: What is the FASB Codification System? What is the purpose of the FASB Codification System? What are the nine content areas located in the FASB Codification System? What types of items are located under each content area? Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

  8. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 1 Individual Assignment FASB Codification System Orientation Paper FOR MORE CLASSES VISIT www.acc497genius.com Resources: FASB Codification System website accessible through the FASB Online link located on your student website Access the FASB Online website and familiarize yourself with the contents. Write a 350-word paper in which you answer the following questions: ·   What is the FASB Codification System? ·   What is the purpose of the FASB Codification System? ·   What are the nine content areas located in the FASB Codification System? What types of items are located under each content area? Format your paper consistent with APA guidelines.

  9. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 1 Knowledge Check FOR MORE CLASSES VISIT www.acc497genius.com Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2. $257,000. $178,000. $270,500. $142,500. $166,500. 2. If cash flow prediction is a company's primary reporting objective, this would likely result in: Fewer accruals and deferrals. Lower earnings. Higher earnings. Poor matching. 3. Refer to the following selected financial information from McCormik, LLC. Compute the company's inventory turnover for Year 2. 5.80. 3.09. 3.19. 3.14. 3.54. Year 2: $392,000 / [($123,000 + $127,000) / 2] = 3.14 4. Selected current year company information follows: The total asset turnover is (Do not round intermediate calculations.): 3.11 times. 2.49 times. 6.25 times. 2.26 times. 2.77 times. 5. Choose the correct statement about audits of corporations: Outside auditors are paid by the government for auditing the financial statements of corporations. Revenue Canada performs audits of corporations' financial statements.

  10. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 2 Accounting Ethics FOR MORE CLASSES VISIT www.acc497genius.com Review the following case study: When the FASB issues new standards, the implementation date is often 12 months from date of issuance, and early implementation is encouraged. Becky Hoger, controller, discusses with her financial vice president the need for early implementation of a standard that would result in a fairer presentation of the company's financial condition and earnings. When the financial vice president determines that early implementation of the standard will adversely affect the reported net income for the year, he discourages Hoger from implementing the standard until it is required. Write a response of no more than 1,050 words in which you answer the following requirements: • Determine an ethical issue that is involved in this case if any. • Identify if the financial vice president acting improperly or immorally?

  11. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 2 Discussion (LIFO) FOR MORE CLASSES VISIT www.acc497genius.com ACC 497 Week 2 Discussion Discuss the following: Client X contacted you for clarification and recommendations on how the use of the LIFO method to value its inventories will be impacted if a switch to financial statements prepared in compliance with IFRS will be made.

  12. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 2 DQ 1 FOR MORE CLASSES VISIT www.acc497genius.com What are at least three International Accounting Standards? Are these standards the same as U.S. standards? Explain your response. Is it necessary to have global standards? Explain your response. .

  13. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 2 DQ 2 FOR MORE CLASSES VISIT www.acc497genius.com What are some nonfinancial performance measures? What do they tell us about the performance of an organization? Why is it important for managers to include nonfinancial performance standards in their analysis of their operations?

  14. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 2 Individual Assignment Financial Statements Paper Part I (2 Papers) FOR MORE CLASSES VISIT www.acc497genius.com This Tutorial contains 2 different Papers Resources: Appendix A: The Home Depot, Inc. Annual Report in Fundamentals of Financial Accounting Write a 1,050- to 1,750-word paper in which you answer the following questions: ·         What does the Consolidated Statements of Earnings—the income statement—tell you about the company? Why is this statement important? What business decisions could be made using the income statement? ·         What does the balance sheet tell you about the company? Why is the balance sheet important? What business decisions could be made using the balance sheet? ·         What does the statement of cash flows tell you about the company? What business decisions could be made using the statement of cash flows?

  15. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 2 Knowledge Check FOR MORE CLASSES VISIT www.acc497genius.com Via Gelato is a popular neighborhood gelato shop. The company has provided the following data concerning its operations: While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example, wages should be $5,900 plus $1.70 per liter of gelato sold and the actual wages for June were $15,900. Via Gelato expected to sell 6,000 liters in June, but actually sold 6,200 liters. Required: Complete the report showing Via Gelato revenue and spending variances for June 2. Heritage Watercraft makes reproductions of classic wooden boats. The bottleneck in the production process is fitting wooden planks to build up the curved sections of the hull. This process requires the attention of the shop’s most experienced craftsman. A total of 3,400 hours is available per year in this bottleneck operation. Data concerning the company’s four products appear below: No fixed costs could be avoided by modifying how many units are produced

  16. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 2 Team Accounting for Employee Stock Options FOR MORE CLASSES VISIT www.acc497genius.com Discuss with your team the following case study: Client X offers a generous employee compensation package that includes employee stock options. The exercise price has always been equal to the market price of the stock at the date of grant. The corporate controller, John Jones, believes that employee stock options, like all obligations to issue the corporation's own stock, are equity. The new staff accountant, Marcy Means, disagrees. Marcy argues that when a company issues stock for less than current value, the value of preexisting stockholders' shares is diluted. Write a team consensus response of no more than 700 words in which you answer the following requirements: 1. Describe how Client X should account for its employee stock option plan, under existing GAAP. 2. Pretend you are hired to debate the issue of the proper treatment of options written on a company's own stock.

  17. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com • ACC 497 Week 2 Team Assignment Case Study Assignment (2 Papers) • FOR MORE CLASSES VISIT • www.acc497genius.com • This Tutorial contains 2 different Papers •  Resources: Ch. 1 & 2 of Financial Accounting Theory and Analysis: Text and Cases • Write a 350-word response for each of the following cases answering the questions located at the end of each case. • Case 1-3 Politicalization of Accounting Standards in Ch. 1 • Case 1-4 Generally Accepted Accounting Principles in Ch. 1 • Case 2-2 The Theoretical Foundation of Accounting Principles in Ch. 2

  18. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 2 Textbook Cases Case 1-1, Case 1-3, Case 2-2 (New Syllabus) FOR MORE CLASSES VISIT www.acc497genius.com ACC 497 Week 2 Textbook Cases Write a 350- to 700-word response for each of the following cases answering the questions located at the end of each case. Case 1-1 Generally Accepted Accounting Principles on page 28) Case 1-3 Politicization of Accounting Standards (page 28) Case 2-2 The Theoretical Foundation of Accounting Principles (page 75) Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

  19. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 3 Accounting for Investments FOR MORE CLASSES VISIT www.acc497genius.com Review the following case study: FASB ASC 320 requires companies to assign their portfolio of investment securities into: • Trading securities. • Securities available for sale. • Held-to-maturity securities. Write a response of no more than 1,500 words in which you answer the following: • Define each of these categories of securities and discuss the accounting treatment for each category. • Discuss how companies are required to assign each category of securities into its current and noncurrent portions. • Discuss the arguments for each position. Some individuals maintain that the only proper accounting treatment for all marketable securities is current value. Others maintain that this treatment might allow companies to "manage earnings". Click the Assignment Files tab to submit your assignment.

  20. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 3 Knowledge Check FOR MORE CLASSES VISIT www.acc497genius.com The estate of Monique Chablis earned $450 of income this year. Is the estate required to file an income tax return? 2. Congress would like to increase tax revenues by 5 percent. Assume that the average taxpayer in the United States earns $40,000 and pays an average tax rate of 20 percent. a. If the income effect is in effect for all taxpayers, what average tax rate will result in a 5 percent increase in tax revenues? (Round your answer to 2 decimal places.) b. This is an example of what type of forecasting? 3. MoltoStancha Corporation had zero earnings this fiscal year; in fact, they lost money. Must they file a tax return? 4. Scot and Vidia, married taxpayers, earn $187,500 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U.S. tax rate schedule for married filing jointly).

  21. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 3 Learning Team Discussion (Interest Cost on Construction) FOR MORE CLASSES VISIT www.acc497genius.com ACC 497 Week 3 Learning Team Discussion Discuss the following as a team: Client X contacted you for clarification and recommendations regarding whether interest cost on construction of a new warehouse may be included in the cost of the new warehouse. Write a 350 word summary of the discussion.

  22. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 3 Team Assignment Interest Cost FOR MORE CLASSES VISIT www.acc497genius.com Discuss with your team the following case study: Client X contacted you for clarification and recommendations regarding whether the interest cost on construction of a new warehouse may be included in the cost of the new warehouse. Write a team consensus response of no more than 700 words to include the following: • Provide rational and clarifications of the proper treatment of interest cost under the rules of GAAP. • Explain the impact of this interest cost on: o Financial statements. o Income statement. o Balance sheet. o Statement of owners' equity. Click the Assignment Files tab to submit your assignment.

  23. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 3 Textbook Problems (New Syllabus) FOR MORE CLASSES VISIT www.acc497genius.com ACC 497 Week 3 Textbook Problems Complete Problem Assignments 1-15. Click the Assignment Files tab to submit your assignment What are consumption taxes? Differentiate horizontal from vertical equity. When was the constitutional amendment permitting an income tax ratified? What is a sin tax? What are three objectives of income taxation? What are the three taxable persons that pay all of the income taxes? What is the difference between gross revenue and gross income for a business? What are at least three unique features of the individual tax model when compared to the corporate tax model? What are three similarities between these models? What is the purpose of adjusted gross income for an individual?

  24. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 4 Income Tax Implication of Capital Investment Decisions FOR MORE CLASSES VISIT www.acc497genius.com Read the following case study: The Whitley Corporation's year-end is December 31. It is now October 1, 2013. The Whitley management team is taking a look at the prior nine months and attempting to make some short-term strategy decisions. Whitley has experienced steady growth over the five preceding years. The result has been a steadily increasing EPS. Last year, Whitley reported an EPS of 1.95. This year, owing to a mild recession, Whitley's sales have fallen off. Management is looking for strategies that can improve the appearance of the financial statements. At the same time, there is a need for new equipment in the plant. Despite the recession, Whitley has enough cash to make the purchase. Based on the year's performance to date and extrapolation of the results to year-end, management feels that the pretax financial accounting income for the year will be $200,000. Transactions from prior years have resulted in a deferred tax asset

  25. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 4 International Versus U.S. Standards FOR MORE CLASSES VISIT www.acc497genius.com ACC 497 Week 4 International Versus U.S. Standards Write a 700- to 1,050-word response to the questions located at the end of the following case: Case 3-5 International versus U.S. Standards (page 114) Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

  26. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 4 knowledge Check FOR MORE CLASSES VISIT www.acc497genius.com A public entity changed from the straight-line method to the declining balance method of depreciation for all newly acquired assets. This change has no material effect on the current year’s financial statements but is reasonably certain to have a substantial effect in later years. The client’s financial statements contain no material misstatements and the auditor concurs with this change. If the change is disclosed in the notes to the financial statements, the auditor should issue a report with a(n): unqualified opinion. “except for” qualified opinion. explanatory paragraph. consistency modification. 2. The single audit requirement applies to: All audits of state and local government reporting entities. Most audits of state and local governments expending federal grant funds. Financial audits of all not-for-profit entities. Only those governments and not-for-profit entities that are audited by a federal audit agency.

  27. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 4 Learning Team Discussion (300 Words) FOR MORE CLASSES VISIT www.acc497genius.com ACC 497 Week 4 Learning Team Discussion Discuss the following as a team: Client X contacted you for clarification and recommendations regarding in what instances should goodwill be adjusted for impairment? Write a 350 word summary of the discussion.

  28. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 4 Team Goodwill FOR MORE CLASSES VISIT www.acc497genius.com Discuss with your team the following case study: Client X contacted you for clarification and recommendations regarding the instances when goodwill should be adjusted for impairment. Write a team consensus response of no more than 700 words to include the following: • Provide detailed rational of why goodwill must be adjusted for impairment. • List the tests for impairment. • Explain the meaning of a non cash impairment charge. Click the Assignment Files tab to submit your assignment.

  29. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 5 FARS Case (2 Papers) FOR MORE CLASSES VISIT www.acc497genius.com ACC 497 Week 5 FARS Case Write a 1,050- to 1,400-word response in which you address the following questions from Case 3, Charitable Contributions and Debt: A Comparison of St. Jude Children’s Research Hospital/ALSAC and Universal Health Services: Questions from Requirement A Questions from Requirement B How would your answers to Requirements A and B differ if the government owned and operated the hospital? Click the Assignment Files tab to submit your assignment. .

  30. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 5 Knowledge Check FOR MORE CLASSES VISIT www.acc497genius.com Which of the following factors would not indicate that a potential component unit (PCU) imposes a financial burden or provides a financial benefit to the primary government? The primary government is obligated to provide financial support to the PCU. The primary government is obligated for the PCU's debt. The primary government is entitled to its share of any dividends distributed by the PCU. The primary government is entitled to the PCU's resources. 2. Select the type of the fund from the list that best matches with the following descriptive phrases. 3. The GASB concept statements indicate that in certain instances a remeasured value for an asset or liability should be reported on the financial statements. Which of the following is not one of the methods recommended by the GASB for remeasured amounts? Historical cost. Fair value. Replacement cost. Lower of cost or market.

  31. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com ACC 497 Week 5 Signature Assignment FARS Case FOR MORE CLASSES VISIT www.acc497genius.com About Your Signature Assignment Signature/Benchmark Assignments are designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. Signature/Benchmark Assignments are graded with a grading guide or an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for course/program improvements. Write a response of no more than 1,050 words in which you address the following questions from Case 3, Charitable Contributions and Debt: A Comparison of St. Jude Children's Research Hospital/ALSAC and Universal Health Services: • Requirement A, 1-4 • Requirement B

  32. ACC 497 GENIUS Empowering and Inspiring/acc497genius.com

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