CURRENT EVENTS Choose a tweet from the FASB Twitter Feed (@FAFNorwalk) integrated into the home page of this course, summarize the overarching topic of the tweet and related article or video, and connect it to a topic we’ve studied in class this week. If a classmate has chosen a feed in which you’re interested, agree […]

INVENTORY ACCOUNTING AND REPORTING   Based on your readings from the textbook and your research, discuss how the inventory of a merchandising company differs from that of a manufacturing company. What are the two inventory control systems? Why is one better than the other? Explain with examples.

TIME VALUE OF MONEY We all know that a dollar today is worth more than a dollar tomorrow. This is because in a situation of rising prices, the purchasing power of a dollar decreases as time passes. We need to know how much a dollar that we are going to receive in the future is […]

CASE DISCUSSION: THE PROCTER & GAMBLE COMPANY (P & G) Read the Financial Reporting Problem, The Procter & Gamble Company (P & G) (located in Chapter 5: Balance Sheet and Statement of Cash Flows, Using Rations to Analyze Performance, Using Your Judgement on pages 254 and 255 of the textbook) and answer the questions below. […]

Please read CA 4-6 Ethics (Classification on Income Statement Items) (located in Chapter 4: Income Statement and Related Information, Other Reporting Issues, Concepts for Analysis on page 191 of the textbook). Please answer and discuss the questions below as required.   CA4-6 ETHICS (Classification of Income Statement Items)   As audit partner for Grupo and […]

This week’s case centers around our increasing dependency on international trade. As a result, there is a movement toward one set of international accounting standards that would increase trade globally and add to the transparency of financial reporting.   Please answer and discuss the questions below from Financial Reporting Case IFRS 1–5 (located in Chapter […]

DIVIDENDS AND DIVIDEND POLICY   Class, what are the different types of dividends? What are the accounting issues?

DILUTIVE SECURITIES AND EARNINGS PER SHARE (EPS) Explain what might contribute to dilution of a stock, resulting in reduction of EPS.

TYPES OF STOCK How do you define the term “equity “. What transactions or events change owners’ equity?  What are the two components of Stockholders’ Equity section.   Looking at the various accounts that might be listed under the Stockholders’ Equity section of a balance sheet.  explain the basic differences between common stock and preferred […]

LONG-TERM LIABILITIES: BONDS   To get us started in this week’s discussion, explain the relationship between changing market interest rates and the price of a bond.