Week Five Reflection Summary ACC/290 Principles of Accounting Date Teacher Week Five Reflection Summary Team B In recent years there have been many highly publicized financial accounting scandals. Enron‚ WorldCom‚ and AIG are a few of the well- known corporate companies that have been involved in financial reporting scandals. United Sates regulators and lawmakers made known their concerns of mistrust in corporate accounting‚ because of unethical financial reporting. In 2002 Congress
Premium Enron Corporate governance Finance
Numerous amounts of information can be found in an Annual Financial Report. Team A is again utilizing Wal-Mart’s Annual Financial Report to answer the questions for the week five assignment. The questions for week five dig a little deeper into the financial report than the questions for week four. We will analyze the annual financial report and realize the information it has to offer. This paper will address the following subjects-- assets listed in proper order‚ how the assets are classified‚
Premium Balance sheet Asset
ACC 290 Week 5 Discussion Questions and Responses www.paperscholar.com DIRECT LINK TO THIS STUDY GUIDE: http://www.paperscholar.com/acc-290-week-5-discussion-questions-and-responses/ Instantly Download! Get Better Grades in Less Time! 100% Satisfaction Guarantee DESCRIPTION FOR THIS STUDY GUIDE: All discussion questions and responses to other students are included for each week. Week 5: DQ 1: What are two examples of strong and weak internal controls in organizations where you have
Premium Organization
ACC290 – Principles of Accounting I – Final Exam Study Guide 2012 Remember to check out ACCNerd.com for the latest updates! 1. Which financial statement is used to determine cash generated from operations? A. Income statement B. Statement of operations C. Statement of cash flows D. Retained earnings statement 2. In terms of sequence‚ in what order must the four basic financial statements be prepared? A. Balance sheet‚ income statement‚ statement of cash flows‚ and capital statement
Premium Generally Accepted Accounting Principles Revenue Balance sheet
ACC 290 Final Exam Study Guide Let’s get started… Q 8 – Under IFRS Comparative prior-period information must be presented and financial statements must be provided annually. Explanation: See IFRS financial reporting requirement here: http://www.iasplus.com/en/standards/ias/ias1 Q 10 - Similarities between International Financial Reporting Standards (IFRS) and U.S. GAAP include all of the following except: Both IFRS and U.S. GAAP allow revaluation of items such as land and buildings to fair
Premium Generally Accepted Accounting Principles Inventory Revenue
[pic] Copyright © 2011by University of Phoenix. All rights reserved. School of Business Course Syllabus ACC/290 Principles of Accounting I Course Start Date: 06/20/2013 Course End Date: 07/25/2013 Miami Learning Center 11410 NW 20 Street Miami‚ FL 33172 (305) 428-4910 Thursday Evenings – 6 PM to 10 PM June 20‚ 2013 June 27‚ 2013 July 11‚ 2013 July 18‚ 2013 July
Premium Balance sheet Financial statements
XACC/290 June 9‚ 2013 BE5-1: A. $181‚500 B. $41‚200 C. $38‚000 D. $17‚900 E. $8‚500 F. $63‚400 BE5-2: Pocras Company buys merchandise on account from Wedell Company. The selling price of the goods is $900 and the cost of the goods sold is $590. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies. Pocras Company: Accounts Receivable: Debit = $900‚ Credit = $900. Cost of Goods Sold: Debit = $590‚ Credit = $590. BE6-5: In its
Premium Inventory Internal control
Employment Law Final Exam Radiah DiPiano Webster University HRMG/5700 Summer Term July 26‚ 2014 Author Note Certificate of Authorship: This paper was prepared by me for this specific course and is not a result of plagiarism or self-plagiarism. I have cited all sources from which I used data‚ ideas‚ or words either quoted or paraphrased. Employment Law Final Exam 1. There are two factors that would need to be considered by the Federal Court to determine the validity of Leroy’s lawsuit
Premium Discrimination Employment
account increases from the beginning of the year to the end of the year‚ then A. B. C. D. net income is less than dividends. a net loss is less than dividends. additional investments are less than net losses. net income is greater than dividends. 5) If services are rendered on account‚ then A. B. C. D. assets will decrease. liabilities will increase. stockholders’ equity will increase. liabilities will decrease. 6) An investment by the stockholders in a business increases A. B. C. D. assets
Premium Balance sheet Generally Accepted Accounting Principles
There have been several concepts learned and discussed that will be beneficial to persons holding positions in the accounting field. Some skills required to be successful are; differentiating between accrual-basis and cash-basis accounting‚ detailing what creating adjusting entries entails‚ and the logistics of preparing an adjusted trial balance. These two methods are somewhat alike but do have a couple differences. Both methods have been tested and proven to be effective ways for companies to
Premium Generally Accepted Accounting Principles Balance sheet Income statement