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 ACC 541 Potential Instructors / snaptutorial
ACC 541 Week 1 DQ 1
ACC 541 Entire Course
ACC 541 Week 1 Individual Assignment Accounting
Standards Boards Paper ACC 541 Week 1 DQ 1 ACC
541 Week 1 DQ 2 ACC 541 Week 2 Individual
Assignment Client Understanding Paper ACC 541
Week 2 DQ 1 ACC 541 Week 2 DQ 2 ACC 541 Week 3
Individual Assignment Response to Client Request
I ACC 541 Week 3 DQ 1 ACC 541 Week 3 DQ 2 ACC 541
Week 4 Individual Assignment Response to Client
Request II
Week 1 DQ 1 What is the importance of the
mission of the FASB?
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 ACC 541 Potential Instructors / snaptutorial
ACC 541 Week 1 Individual Assignment Accounting
Standards Boards Paper
ACC 541 Week 1 DQ 2
Week 1 DQ 2 Under current GAAP, goodwill is
recorded when purchased.
The International Accounting Standards Board
(IASB) and the Financial Accounting Standards
Board (FASB) are currently working on a joint
venture referred to as the convergence
project. Write a 1,050- to 1,400-word paper
describing the relationship between the IASB and
the FASB. Include the following in your paper
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ACC 541 Week 2 DQ 2
ACC 541 Week 2 DQ 1
Week 2 DQ 1 What are the four criteria used for
determining  if a lease is to be treated as a
capital lease? (This question can be expanded to
discuss the income statement and balance sheet
implications of both a capital lease and an
operating lease.)
Week 2 DQ 2 Under current GAAP, goodwill is
recorded when purchased.
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ACC 541 Week 3 DQ 1
ACC 541 Week 2 Individual Assignment Client
Understanding Paper
Week 3 DQ 1 Capital leases and operating leases
are the two classifications of leases described
in FASB pronouncements from the standpoint of the
lessee. Describe how an operating lease would be
accounted for by the lessee both at the inception
of the lease and during the first year of the
lease, assuming the lessee makes equal monthly
payments at the beginning of each month of the
lease. Describe the change in accounting, if any,
when rental payments are not made on a
straight-line basis.
As a newly hired Staff I, you are responsible for
analyzing the work papers for one of the clients
of your organization. Your client is not clear
about why you are asking for information on the
following topics            Adjusting lower
cost of market inventory on valuation         
Capitalizing interest on building
construction          Recording gain or loss on
asset disposal
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 ACC 541 Potential Instructors / snaptutorial
ACC 541 Week 3 Individual Assignment Response to
Client Request I
ACC 541 Week 3 DQ 2
Week 3 DQ 2 On January 1, 2006, Von Company
entered into two noncancelable leases for new
machines to be used in its manufacturing
operations. The first lease does not contain a
bargain purchase option the lease term is equal
to 80 percent of the estimated economic life of
the machine. The second lease contains a bargain
purchase option the lease term is equal to 50
percent of the estimated economic life of the
machine.
While working on a consulting engagement, a
supervisor in your team has given you an
assignment. The client is a regional trucking
company. A new customer has approached the client
with an opportunity that would require 120
trailers20 more than the trucking company
currently owns. The client is uncertain how long
the relationship with the customer may last, but
the deal has the potential for significant growth.
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ACC 541 Week 4 DQ 2
ACC 541 Week 4 DQ 1
Week 4 DQ 1 Discuss contingencies and how they
are reported on financial statements. What
conditions must be met before a contingency can
be charged against income?
Week 4 DQ 2 The two basic requirements for the
accrual of a loss contingency are supported by
several basic concepts of accounting. Four of
these concepts are periodicity (time periods),
measurement, objectivity, and relevance. Discuss
how the two basic requirements for accrual of a
loss contingency relate to the four concepts
listed above.
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 ACC 541 Potential Instructors / snaptutorial
ACC 541 Week 5 DQ 1
ACC 541 Week 4 Individual Assignment Response to
Client Request II
Week 5 DQ 1 Explain operating segments of an
enterprise.  
Your client is being sued. You have asked the
clients lawyer about the possibility of losing
the lawsuit. The client, meanwhile, has asked you
to describe what would happen to his or her
financial statements. The client has also
informed you that by losing the lawsuit, he or
she anticipates losing the mortgage and has
started talking to a mortgage lender. The client
wants to know if part of the debt is forgiven, or
if the mortgage is rewritten, or if the mortgage
will be rewritten if he or she files Chapter 11.
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 ACC 541 Potential Instructors / snaptutorial
ACC 541 Week 5 Individual Assignment Reporting
Paper
ACC 541 Week 5 DQ 2
Week 5 DQ 2 The concept of adequate disclosure
continues to be one of the most important issues
facing accountants, and disclosure may take
various forms. Discuss the various forms of
disclosure available in published financial
statements.
You are a controller in a midsized manufacturing
company that has acquired 100 of another
company. The acquired company includes two
segments and two different pension plans. Both of
these reporting issues are new to your CEO, and
your CEO wants to eliminate the segments.
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ACC 541 Week 6 DQ 2
ACC 541 Week 6 DQ 1
Week 6 DQ 1 A corporation may use stock splits
and stock dividends to change the number of
shares of its stock outstanding. From an
accounting viewpoint, explain how the stock split
effected in the form of a dividend differs from
an ordinary stock dividend.
Week 6 DQ 2 What type of accounting or which
area of accounting are you planning to enter as
your profession? Why?
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ACC 541 Week 6 Team Assignment Auditing a
Publicly Traded Company
As a Staff I assigned to the audit of a publicly
traded company, your senior has asked you to
evaluate both share-based payment reporting and
special purpose entities (SPE) reporting for the
company. Research share-based payment reporting
and SPE reporting individually. Write a 700- to
1,050-word executive memo as a team that includes
a description of what you will look for to see if
the client is consistent with the generally
accepted accounting principles (GAAP).
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