ACC 616 Full Course Discussions GCU
ACC 616 Full Course Discussions GCU
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ACC 616 Topic 1 DQ 1
There are different types of accountants (corporate accountants,
auditors, tax accountants, etc.). Choose one of these types of accountants and
discuss the following:
- Where would you start your
research?
- What other resources are available
to you to help you find an appropriate solution?
- What happens when you cannot find
the solution to your accounting problem?
ACC 616 Topic 1 DQ 2
What role does accounting and auditing research play in the
accounting profession? Why are good communication skills necessary for
accountants? What do you think the most difficult aspect of accounting/auditing
research will be?
ACC 616 Topic 2 DQ 1
Refer to the assigned reading, “A Plain English Handbook: How to
Create Clear SEC Disclosure Documents.” What do you believe is the most
important element in achieving transparent and readable documents? Be specific
in your references to the reading.
ACC 616 Topic 2 DQ 2
Go to the FASB Codification and look under Revenue. Look
through the options, choose a subtopic, and give some notes on what is required
for recognition of revenue or for disclosure. Try to choose information
that has not yet been posted by another student. In your responses,
identify the similarities and differences between the information provided in
your post and the post of your classmate. Discuss any difficulties you had
using the FASB Codification.
ACC 616 Topic 3 DQ 1
After reading “Agenda Formation and Accounting Standards Setting:
Lessons from the Standards Setters” by Howieson, what is your opinion of the
agenda formation process? What role do you think lobbying should play in
setting the agenda for accounting standard-setting bodies and why?
ACC 616 Topic 3 DQ 2
Prepare a compliance report of the company you chose for your
Annual Report Project. Using your company’s financial statements and notes to
the financial statements, evaluate the use of GAAP for income recognition,
identify the relevant code sections, any departures from GAAP, and the
authority used to justify the departures. In addition, evaluate the reasoning
for the company choosing particular accounting methods.
ACC 616 Topic 4 DQ 1
Using the one of the GCU Library’s databases, read and summarize
an article related to your APR company’s business or industry. Following the
research process, identify the issue or problem addressed in the article, the
evidence used to evaluate the issue or problem, the conclusion reached, and the
evidence/analysis used to support that conclusion. Include a citation and a
direct link to the article in the database. In responses to other students’
summaries, you should discuss whether you believe the authors followed the
research process and sufficiently defended and supported their conclusion. Does
this article have any implications for accounting or business practice in your
own business or industry?
ACC 616 Topic 4 DQ 2
After reading “An Examination of Potential Changes in Ratio
Measurements Historical Cost Versus Fair Value Measurement in Valuing Tangible
Operational Assets,” by Baker, discuss the implications of using fair value
measurements for long-lived assets. Comment on the advantages and
disadvantages of each method. Which method do you think should be used and
why?
ACC 616 Topic 5 DQ 1
Choose an IFRS, IAS, IFRIC, or SIC, other than revenue
recognition, and locate the related standard in the FASB
Codification. What are the differences between the two standards? What are
the similarities? In replying to your classmates, indicate how close you think
those particular standards are to convergence. You may need to do some
additional research for current information. If you do, make sure you cite your
source.
ACC 616 Topic 5 DQ 2
Go to the IFRS website (http://www.ifrs.com/convergence_landing.html) and read about the
Convergence efforts. Discuss the current state of the convergence efforts
followed by your opinion on whether or not the US should convert from GAAP to
IFRS. Provide examples in your post to support your for or against postion
regarding convergence. Try to choose information that has not yet been posted
by another student. In your responses, identify the similarities and
differences between the information provided in your post and the post of your
classmate.
ACC 616 Topic 6 DQ 1
Access a recently issued SEC Accounting and Audit Enforcement
Release related to a fraud action
(https://www.sec.gov/divisions/enforce/friactions.shtml) and determine
incentives or pressure to commit the fraud, accounting issues, and the motive
for the fraud.
ACC 616 Topic 6 DQ 2
There have been a growing number of very large financial frauds
discovered in recent years—mortgage fraud, the Madoff scandal, and Enron to
name a few. Describe why you believe fraud training is important for all
accountants. Name a particular area of fraud training you believe would be
beneficial to your chosen area of accounting.
ACC 616 Topic 7 DQ 1
Using ProQuest Accounting and Tax, through the GCU Library (http://search.proquest.com.library.gcu.edu:2048/accountingtaxbanking/business/fromBasicHomePage?accountid=7374), find an article about the
capital gains tax that was published within the past year. Provide a brief
summary of the article and discuss the main concerns of the author. Do you
agree with those concerns? Why or why not? In responses to your
classmates, compare the conclusions and concerns in your article to someone else’s
article.
ACC 616 Topic 7 DQ 2
Choose a tax issue specifically related to your ARP business or
industry. Utilize at least three different tax websites (types of sources)
discussed in Chapter 7 of Accounting
and Auditing Research: Tools and Strategies, and summarize the
information on the tax issue provided there. Do the websites agree on this
issue or are there differences? Which of these websites provides the primary
authority on the issue?
Some examples of tax issues include:
- Deductible meal and entertainment
expenses
- Deduction for foreign travel
- Tax consequences of an athletic
scholarship
- Taxation of long-term capital gains
- Recognition of income on
extinguishment of debt
- Whether an accrual basis securities
firm has gross income under sec. 451(a) on the trading date or the next
year on the settlement date when all the work is performed, payment is
due, and money received.
ACC 616 Topic 8 DQ 1
Reread your response to Topic 1 DQ 1. Respond here and answer the
following questions:
- What role does accounting and
auditing research play in the accounting profession?
- Why are good communication skills
necessary for accountants?
- What do you think the most
difficult aspect of accounting/auditing research will be?
ACC 616 Topic 8 DQ 2
After reviewing both research standards for the profession and an
individual company’s disclosures:
- What do you believe are the most
important skills for a candidate in the accounting profession?
- What skills will you work hardest
to obtain throughout the remainder of your education?
- How does this compare to what you
believed when you entered the class?
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ACC 616 Full Course Discussions GCU
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