ACC 306 AID Learning for leading/acc306aiddotcom

1. ACC 306 AID Learning for leading/acc306aiddotcom

2. ACC 306 AID Learning for leading ACC 306 Entire Course (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • ACC 306 Week 1 Assignment E13-21, E13-22, P12-1, P12-7,P12-10, P12-14, P13-6ACC 306 Week 1 DQ 1 Equity MethodACC 306 Week 1 DQ 2 Judgment Case 13-9ACC 306 Week 2 DQ 1 Ethics Case 14-8 Hunt ManufacturingACC 306 Week 2 DQ 2 Ethics Case 15-4ACC 306 Week 3 Assignment E 16-24, E 16-25, E 17-10, E 17-19, P 16-7, P 17-16

3. ACC 306 AID Learning for leading ACC 306 Week 1 Assignment E13-21, E13-22, P12-1, P12-7,P12-10, P12-14, P13-6 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • ACC 306 Week 1 Assignment E13-21, E13-22, P12-1, P12-7,P12-10, P12-14, P13-6

4. ACC 306 AID Learning for leading ACC 306 Week 1 DQ 1 Equity Method (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • P 12–13 - Miller Properties - Equity method ● LO5 LO6 • On January 2, 2011, Miller Properties paid $19 million for 1 million shares of Marlon Company’s 6 million outstanding common shares. Miller’s CEO became a member of Marlon’s board of directors during the first quarter of 2011. • The carrying amount of Marlon’s net assets was $66 million. Miller estimated the fair value of those net as- sets to be the same except for a patent valued at $24 million above cost. The remaining amortization period for the patent is 10 years.

5. ACC 306 AID Learning for leading ACC 306 Week 1 DQ 2 Judgment Case 13-9 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • ACC 306 Week 1 DQ2 Judgment Case 13-9 • Judgment Case 13–9 - Valleck Corporation - Loss contingency and full disclosure ● LO5 LO6 • In the March 2012 meeting of Valleck Corporation’s board of directors, a question arose as to the way a possible obligation should be disclosed in the forthcoming financial statements for the year ended December 31. A veteran board member brought to the meeting a draft of a disclosure note that had been prepared by the controller’s office for inclusion in the annual report. Here is the note:

6. ACC 306 AID Learning for leading ACC 306 Week 2 DQ 1 Ethics Case 14-8 Hunt Manufacturing (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • Ethics Case 14–8 - Hunt Manufacturing - Debt for equity swaps; have your cake and eat it too ● LO5 • The cloudy afternoon mirrored the mood of the conference of division managers. Claude Meyer, assistant to the controller for Hunt Manufacturing, wore one of the gloomy faces that were just emerging from the conference room. “Wow, I knew it was bad, but not that bad,” Claude thought to himself. “I don’t look forward to sharing those numbers with shareholders.”

7. ACC 306 AID Learning for leading ACC 306 Week 2 DQ 2 Ethics Case 15-4 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • Ethics Case 15–4 - American Movieplex - Leasehold improvements ● LO3 • American Movieplex, a large movie theater chain, leases most of its theater facilities. In conjunction with recent operating leases, the company spent $28 million for seats and carpeting. The question being discussed over break- fast on Wednesday morning was the length of the depreciation period for these leasehold improvements. The com- pany controller, Sarah Keene, was surprised by the suggestion of Larry Person, her new assistant.

8. ACC 306 AID Learning for leading ACC 306 Week 3 Assignment E 16-24, E 16-25, E 17-10, E 17-19, P 16-7, P 17-16 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • ACC 306 Week 3 Assignment E 16-24, E 16-25, E 17-10, E 17-19, P 16-7, P 17-16

9. ACC 306 AID Learning for leading ACC 306 Week 3 Ethics Case 17-6 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • Ethics Case 17–6 - VXI International - 401(k) plan contributions ● LO1 • You are in your third year as internal auditor with VXI International, manufacturer of parts and supplies for jet air- craft. VXI began a defined contribution pension plan three years ago. The plan is a so-called 401(k) plan (named after the Tax Code section that specifies the conditions for the favorable tax treatment of these plans) that permits voluntary contributions by employees. Employees’ contributions are matched with one dollar of employer contribution for every two dollars of employee contribution. Approximately $500,000 of contributions is deducted from employee paychecks each month for investment in one of three employer-sponsored mutual funds.

10. ACC 306 AID Learning for leading ACC 306 Week 3 Integrating Case 16-5 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • Integrating Case 16–5 - Williams-Santana, Inc. - Tax effects of accounting changes and error correction; six situations ● LO1 LO2 LO8 • Williams-Santana, Inc. is a manufacturer of high-tech industrial parts that was started in 1997 by two talented engineers with little business training. In 2011, the company was acquired by one of its major customers. As part of an internal audit, the following facts were discovered. The audit occurred during 2011 before any adjusting entries or closing entries were prepared. The income tax rate is 40% for all years.

11. ACC 306 AID Learning for leading ACC 306 Week 4 Assignment E 18-18, E 18-24, E 19-2, E 19-5, E 19-9, E 19-24, P 18-5 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • ACC 306 Week 4 Assignment E 18-18, E 18-24, E 19-2, E 19-5, E 19-9, E 19-24, P 18-5

12. ACC 306 AID Learning for leading ACC 306 Week 4 Communication Case 18-10 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • Communication Case 18–10 Should the present two-category distinction between liabilities and equity be retained? Group interaction. ● LO1 • The current conceptual distinction between liabilities and equity defines liabilities independently of assets and equity, with equity defined as a residual amount. The present proliferation of financial instruments that combine features of both debt and equity and the difficulty of drawing a distinction have led many to conclude that the present two-category distinction between liabilities and equity should be eliminated.

13. ACC 306 AID Learning for leading ACC 306 Week 4 Ethics Case 19-7 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • Ethics Case 19–7 International Network Solutions ● LO6 • International Network Solutions provides products and services related to remote access networking. The company has grown rapidly during its first 10 years of operations. As its segment of the industry has begun to mature, though, the fast growth of previous years has begun to slow. In fact, this year revenues and profits are roughly the same as last year.

14. ACC 306 AID Learning for leading ACC 306 Week 5 Analysis Case 20-10 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • Analysis Case 20–10 - DRS Corporation - Various changes ● LO1 through LO4 • DRS Corporation changed the way it depreciates its computers from the sum-of-the-year’s-digits method to the straight-line method beginning January 1, 2011. DRS also changed its estimated residual value used in computing depreciation for its office building. At the end of 2011, DRS changed the specific subsidiaries constituting the group of companies for which its consolidated financial statements are prepared.

15. ACC 306 AID Learning for leading ACC 306 Week 5 Assignment E 20-18, P 21-11, P 21-14 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • ACC 306 Week 5 Assignment E 20-18, P 21-11, P 21-14

16. ACC 306 AID Learning for leading ACC 306 Week 5 Ethics Case 20-5 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • Ethics Case 20–5 Softening the blow ● LO1 LO2 LO3 • Late one Thursday afternoon, Joy Martin, a veteran audit manager with a regional CPA firm, was reviewing documents for a long-time client of the firm, AMT Transport. The year-end audit was scheduled to begin Monday. • For three months, the economy had been in a down cycle and the transportation industry was particularly hard hit. As a result, Joy expected AMT’s financial results would not be pleasant news to shareholders. However, what Joy saw in the preliminary statements made her sigh aloud. Results were much worse than she feared.

17. ACC 306 AID Learning for leading ACC 306 Week 5 Ethics Case 21-7 (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • Ethics Case 21–7 - Ben Naegle - Where’s the cash? ● LO1 LO3 • After graduating near the top of his class, Ben Naegle was hired by the local office of a Big 4 CPA firm in his hometown. Two years later, impressed with his technical skills and experience, Park Electronics, a large regional consumer electronics chain, hired Ben as assistant controller. This was last week. Now Ben’s initial excitement has turned to distress.

18. ACC 306 AID Learning for leading ACC 306 Week 5 Final Paper (Lease) (Ash Course) FOR MORE CLASSES VISIT www.acc306aid.com • ACC 306 Week 5 Final Paper (Lease)

19. ACC 306 AID Learning for leading Thank you