ACC 502 Topic 1 DQ 1

External users of financial statements use the information to make key business decisions. Some common users include banks, investors, suppliers, and customers. Briefly describe one reason why one of these stakeholders would evaluate the financial information and provide at least one example to illustrate your ideas. You must provide a minimum of 1 scholarly resource to support your rationale. Participate in follow-up discussion by providing additional reasons and examples that have not already been listed related to the stakeholders' evaluation of financial statements.

ACC 502 Topic 1 DQ 2

Internal users of financial statements use the information to make key business decisions. Some common users include managers, employees, internal accountants, and executives. Briefly describe one reason why one of these stakeholders would evaluate the financial information and provide at least one example to illustrate your ideas. You must provide a minimum of 1 scholarly resource to support your rationale. Participate in follow-up discussion by providing additional reasons and examples that have not already been listed related to the stakeholders’' evaluation of financial statements.

ACC 502 Topic 2 DQ 1

The textbook provides three key qualitative characteristics of financial information (relevance, reliability, and consistency). Describe one of these three terms and explain its influence on the financial statements. Include a numerical example to prove your points. Participate in follow-up discussion by reading classmates' posts and providing an example on the significance to the user if the qualitative characteristics are not followed in the preparation of financial statements.

ACC 502 Topic 2 DQ 2

As mentioned in Chapter 3 of the textbook, International Financial Reporting Standards (IFRS) are generally utilized by non-U.S.-based companies. Both IFRS and GAAP standards follow core principles such as asset valuation, revenue recognition, and the matching principle. However, the standards may approach financial reporting differently. Review the resource "Why Global Accounting Standards?" and provide an opinion on whether U.S. companies should convert to the global standards based on the information you gathered from the IFRS readings. Participate in follow-up discussion by trying to professionally persuade classmates who have a different opinion on convergence, addressing why your logic is more appropriate for U.S. businesses.

ACC 502 Topic 3 DQ 1

Calculate the accounts receivable turnover and the average collection period ratio for The Coca-Cola Company for the most current year presented. Explain what the results indicate about the company. Summarize how well Coca-Cola is collecting on its receivables based upon the type(s) of products it sells and the industry in which it competes. Justify your speculation by using supporting facts from the income statement, balance sheet, or other resources.

ACC 502 Topic 3 DQ 2

Respond to Question 5 from Chapter 8 of the textbook: Consider the following statement: "The fewer the uncollectible accounts, the better." Can you think of instances where this might not be the case? Support your points with an example of why fewer uncollectible accounts may not be better for business. Participate in follow- up discussion by reviewing the fact patterns described by classmates and change them to try to prove the point that fewer uncollectible accounts are not better.

ACC 502 Topic 4 DQ 1

Assume you are in support of the historical cost basis as required by GAAP. Discuss why you think the historical cost approach best values the long-term assets on the balance sheet. In addition, provide an example to support your position.

ACC 502 Topic 4 DQ 2

Refer to Question 10 in Chapter 17 of the textbook: How is the use of the equity method subject to manipulation? How might a financial statement reader detect such behavior? In addition, provide an example to prove how the equity method may result in manipulation of the financial results.

ACC 502 Topic 5 DQ 1

The ability for a company to meet its liability obligations is important when assessing financial stability. Consider what high liability balances might indicate about a company and explain the pros and cons of this type of balance. Provide real-world examples to illustrate your ideas

ACC 502 Topic 5 DQ 2

The principles regarding leases were recently updated by FASB, as discussed in the textbook. Explain two main differences between finance and operating leases under these new lease provisions.

Select a publicly traded company and access its most recent financial statements, form 10-K. Include the name of the company in your subject line, and do not choose a company about which one of your classmates has already posted. Navigate to the notes to the financial statements and locate the company’s note on lease disclosures. Identify if the company has operating leases, financing leases, or both. Explain how you can tell which type of leases the company utilizes. Is the company properly reporting leases using the new standard? How can you tell? Participate in follow-up discussions by comparing the lease reporting of your company to that of a classmate's company and comment on any similarities or differences between the companies.

ACC 502 Topic 6 DQ 1

 The stockholders' equity section of the balance sheet typically includes the line items of retained earnings, common stock, treasury stock, and other comprehensive income. Select one company to analyze using the list of approved companies. Select two of these line items and explain what their balances might indicate about how the company is utilizing the investment by its stockholders. In your response, address whether you would want to purchase stock in the company based on your analysis. Participate in follow-up discussion by reviewing the information provided by classmates and providing your opinion as to whether you would purchase the company’s stock. In your response, compare your opinions and note any significant similarities or differences.

ACC 502 Topic 6 DQ 2

Companies may issue common or preferred stock to generate cash flow. However, sometimes companies will buy back stock that was issued to shareholders. Discuss at least one reason why a company would buy back its own stock and provide an example to support your points. In addition, discuss any potential negative effects of the stock repurchase. Participate in follow-up discussion by changing the fact patterns provided by classmates to show when/why a company may want to reissue its treasury stock. Provide an example to support your points

ACC 502 Topic 7 DQ 1

Using the company that you selected from the approved list, access its most recent financial statements, form 10-K. Include the name of the company in your subject line, and if possible, do not choose a company about which one of your classmates has already posted. Navigate to the statement of cash flows that was prepared using an indirect method. Discuss an item that was included when calculating net income but is adjusted as an increase or decrease to determine cash provided by (used in/by) operating activities. Note, increases, and decreases in the operation activities section of the cash flows result from changes in current assets, current liabilities, gains, and losses. Include a summary of how that item impacted net income (or net loss) and why an adjustment might be necessary to reconcile net income to net cash flows from operating activities. If possible, use an item not already used in a classmate's post. In your post, include a screenshot of the statement of cash flows you are analyzing or provide the URL and applicable page number for the statement of cash flows. Participate in follow-up discussion by providing additional explanation on items identified by your classmates.

ACC 502 Topic 7 DQ 2

Many small business owners focus on the cash balance in their bank accounts and may not use the statement of cash flows to analyze how their businesses are generating or using cash. Discuss what one piece of information is found on the statement of cash flows that is just as important as the bank balance (or more so) for the purpose of understanding the financial position of a company. Participate in follow-up discussion by adding additional detail or asking additional questions to the posts of a classmate regarding the differences and similarities between the statement of cash flows and the income statement information.