ACC 557 Week 1 to 11 Discussion Questions
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ACC 557 Week 1 DQ 1 Improper or Illegal Methods: Identify the company, the accounting impropriety or illegality, how it was detected, the outcome, and propose a strategy that might have prevented the situation. Indicate how the strategy should be implemented. Assess the impact to the company’s financial performance based on the impropriety and the resulting effect to stakeholder confidence in management, recommending how the company can minimize the resulting impact to the business.
ACC 557 Week 1 DQ 2 General Accounting Principles: “Bookkeeping and accounting are the same.” In terms of your role in the provision of financial services, present data to support the accuracy of this statement and support your position. Analyze the accounting equation as a concept that underpins the work of professional accountants and how an understanding of the equation can impact business decision making.
ACC 557 Week 3 DQ 1 Researching Financial Information From the e-Activity, analyze one company’s financial position and determine whether or not the stock potential will rise, remain stable, or decrease in value. Determine whether you would invest in it or not at this time. Provide a rationale for your response.
ACC 557 Week 3 DQ 2 Non-Cash Compensation Analyze how non-cash compensation can be abused by management within a company and the related risks to the long-term stability of the company. After considering the potential for problems with this method of employee rewards, determine whether the advantages outweigh the disadvantages, and justify your position.
ACC 557 Week 4 DQ 1 Accounting Methods Analyze the risks to merchandising that a business may experience and how they might be minimized. Determine if automation of accounting has had a positive or negative impact on business, in general, and how you arrived at that conclusion.
ACC 557 Week 4 DQ 2 Inventories: Imagine you are accountable for a franchise fast-food restaurant. Evaluate the best method of inventory costing and make a recommendation to the company’s leaders about why it is best suited for your franchise fast-food restaurant to reduce the possibility of employee theft of product or other shrinkage concerns.
ACC 557 Week 5 DQ 1 Internal Controls From the e-Activity, analyze the situation from the company you selected and the internal controls that may have been compromised to allow the problem to occur and the resulting financial impact to the business. Propose a plan to prevent this type of situation in the future.
ACC 557 Week 5 DQ 2 Receivables Assess the external and internal factors that influence credit policy and decision making within a company that extends credit to its customer when providing a good or service on account. Indicate the factor of most significance in today’s business environment.
ACC 557 Week 6 DQ 1 Information Protection and Privacy: Based on the e-Activity, evaluate the circumstances that contributed to the privacy violation, the consequence to the company to the breach, and management’s response to the breach, indicating the appropriateness of the response. Suggest how the company may have presented the breach and / or responded differently once the breach was discovered. Provide support for your rationale.
ACC 557 Week 6 DQ 2 Debt Covenants: Based on your research conducted in the e-Activity, assess the key components of the loan covenant typically used in business loans. Indicate the necessity of each covenant and the likelihood that default will be prevented. Suggest whether or not you agree or disagree with lenders using the covenant approach for protection. Provide a rationale for your position.
ACC 557 Week 7 DQ 1 Effects of a Merger: Based on the company you researched in the e-Activity, assess the key drivers of the merger. Indicate how the merger will most likely create more value for the company stakeholders, indicating whether or not you believe the value will be realized.
ACC 557 Week 7 DQ 2 Retained Earnings: The items contained in the Retained Earnings section of a balance sheet are often complex and confusing. Suggest an improvement for the reporting on this information that will help the users of the statement to have a better understanding of the activity. Provide support for your suggestion.
ACC 557 Week 8 DQ 1 Venture Capital: Based on your research conducted in the e-Activity, evaluate the business decision to use a venture capitalist to raise funds, indicating whether or not you believe the company will benefit from this decision in the long run. Provide support for your position.
ACC 557 Week 8 DQ 2 Investment Valuation While US GAAP requires assets to be valued at the lower of cost or market, there is a belief that assets with value fluctuations should be valued at market and adjusted on a regular basis. Create an argument supporting the use of market value for investment valuation.
ACC 557 Week 9 DQ 1 Cash Flow Reporting: Given the complexities related to preparing and interpreting the statement of cash flow, evaluate the current requirement under GAAP and IFRS, indicating improvements that you would make to each method’s requirement to better serve the users of the information.
ACC 557 Week 9 DQ 2 Use of Cash Flows Statements: Assess what information may be revealed about the sustainability of a company by review and analysis of a company’s statement of cash flows that may not be revealed in the balance sheet or income statement. Provide support for your rationale.
ACC 557 Week 11 DQ 1 Course Wrap-Up: Explain two concepts in this course that provided the most value to you. Indicate how these two new areas of knowledge will benefit you in your current job or future career / endeavors.
ACC 557 Week 11 DQ 2 Financial Accounting: Predict one major change in financial accounting that may likely occur within the next 10 years. As a CFO, recommend how you would integrate these changes into your business.