ACC 300 – Principles of Accounting
Week 1:
Assignments from the Readings
Prepare responses to the following assignments from the e-text, Financial Accounting: Tools for Business Decision Making 4th ed., by Kimmel, Weygandt, and Kieso Chapter 2: Brief Exercises BE2-8, BE2- 9, and BE2-10
Week 2:
Individual Textbook Assessments
Prepare responses to the following assignments from the e-text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby Chapter 2: Questions 1 and 4 Chapter 2: Coach Problems CP 2-1
Learning Team Textbook Assessments
Prepare responses to the following assignment from the e-text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby Chapter 2: Group A Pr oblems PA 2-1
Week 3:
Individual Textbook Assignment
Prepare responses to the following assignments from the e-text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby
a. Chapter 3: Questions 3 and 4.
b. Chapter 3: Mini-exercise M3- 2
Prepare responses to the following assignments from the e-text, Fundamentals Financial Accounting Concepts 5th ed., by Edmonds, Edmonds, McNair, and Olds Chapter 1: Pr oblem 1-30A (Part A only)
Learning Team Assignment – Examining Financial Statement Paper
Using the financial statements of Landry’s Restaur ants located in Appendix A of the text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby, prepare a 1,050-1,400-word paper that addresses the following questions:
a. What is the amount of net income? Which financial statement did you find this information? What are the components of this financial statement? What are the total assets? Which financial statement did you find this information? are the components of this financial statement? How much did they spend on property and equipment additions? Which financial did you find this information? What are the components of this financial statement?
Were any stock options exercised? Which financial statement did you find this nfor mation? What are the components of this financial statement? Which financial statement do you feel is the most impor tant? Why? Properly cite your references. If you used an electronic source, include the URL. If you used a printed sour ce please attach a copy of the data to your paper.
Week 4:
Individual Assignment: Financial Statement Analysis
Using the financial statements of Landry’s Restaur ants located in Appendix A of the text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby, compute the following ratios for 2002 and 2003:
a. Earnings per share
Return on assets
Current r atio
Times inter est earned
Asset tur nover
Debt to total assets
Current cash debt coverage
Cash debt coverage
Free cash flow
Based on your analysis, what does this tell you of Landry¶s financial performance (consider the changes between years)? Properly cite your references. If you used an electronic source, include the URL. If you used a printed sour ce please attach a copy of the data to your paper. These assignments are due in Week Four.
Learning Team Accounting Paper: Managerial and Financial Accounting Paper
Prepare a 700-1,050-word paper in which you differ entiate between managerial and financial accounting. Be sure to address the following questions:
a. What type of information does managerial accounting provide?
b. What type of information does financial accounting provide? Who are the users of managerial and financial accounting, and what kind of business decisions would they make with this infor mation? Properly cite your references. If you used an electronic source, include the URL. If you used a printed sour ce please attach a copy of the data to your paper.
Week 5:
Individual Assignment – Accounting Regulatory Bodies Paper
Prepare a 300-750-word paper, in which you examine at least four accounting regulator y bodies, and discuss how an organization complies with the standards of the regulator y bodies you selected. Be sure to cite at least two references.
Properly cite your references. If you used an electronic source, include the URL. If you used a printed sour ce please attach a copy of the data to your paper.
Individual Textbook Assignments
Prepare responses to the following assignments from the e-text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby
a. Chapter 6: Questions 2 and 3
Learning Team Accounting Reporting Criteria Paper
Prepare a 700-1,050-word paper, in which you compare and contrast the accounting reporting criteria (regulator y environment, issues with foreign currency, differences in GAAP, etc.) of a U.S. company with a foreign company. Properly cite your references. If you used an electronic source, include the URL. If you used a printed sour ce please attach a copy of the data to your paper.
Learning Team Accounting Reporting Criteria Paper – Presentation
Prepare a 5-10 minute oral presentation accompanied by 5-7 Microsoft® PowerPoint® slides illustrating your Accounting Repor ting Criteria Paper.
Discussion Questions:
Week 2:
What are the different bases of accounting? When would you use the cash basis? Accrual basis? Tax basis? Which one is better? Why?
What are the financial statements? What does each one tell you? Which financial statement is more important? Why?
How are the financial statements related? Why do these relationships exist? What is the impact of a miscalculation in the income statement on other financial statements?
Week 3:
What are the differences between financial and managerial accounting? Why does financial accounting have to comply with GAAP but managerial doesnt? What types of decisions can be made using financial accounting information? What types of decisions can be made using managerial accounting?
What is the purpose of financial statement analysis? What are some of the tools that we can use to analyze financial performance? What should we use to benchmark our performance? Why?
What are the different types of financial ratios used to analyze financial performance? Are some ratios more important than others? Why? Which ratios are important to creditors? Investors? Managers? Why?
Week 4:
What is the purpose of internal control? Why is internal control important? How can internal controls help or hinder a companys success?
What governing bodies are responsible for establishing financial reporting parameters? What is their purpose? Which body is the most important? Why?
Who is responsible for establishing internal controls within the organization? What are some examples of effective internal controls? How can a company determine if the internal controls are effective?