02 Jan Please define a

Week 1 discussion

Dq1

Operational Assets

Let’s begin by defining operational assets and identifying what they are used for in a business. Also, how do operational assets differ from other types of assets? It can be helpful to think of an operational asset that you might have seen at your job or a business you have visited.

Dq2

Disposition and Exchanges

How is a disposition and exchange defined? What are some ways that companies dispose of assets? What are some reasons that companies dispose of assets?

Week 2 discussion

Dq1

Intangible Assets

We introduced intangible assets last week, and this week we will study them in more detail. Please define and describe in detail the term intangible asset. What major characteristics differentiate intangible assets from other assets? How is the useful life determined for intangibles?

Dq2

Research and Development Costs

This topic will cover research and development (R & D) costs and how they are accounted for according to GAAP. Please define R & D costs and explain how these are presented in the financial statements of a company.

Week 3 discussion

Dq1

Cost Allocation and Measurement

Please define cost allocation for operational assets. What are the various time-based and activity-based methods used to allocate these costs? How does cost allocation differ for fixed assets, intangible assets, and natural resources?

Dq2

Impairment of Operational Assets

What is impairment of operational assets? How do we determine whether an impairment exists? How do we calculate the impairment loss? Goodwill impairment has special accounting rules. How does an impairment of goodwill differ from impairments associated with other intangible assets?

Week 4 discussion

Dq1

Investment Securities

Based upon what you have read in your e-book and lesson, including the Becker material, identify the categories of debt and equity securities, and describe the accounting and reporting treatment for each category. How do debt and equity securities differ? Describe how the various levels of ownership impact how companies account for investments.

Dq2

SFAS 115

What are the three categories of SFAS 115? How are they determined? How do we treat unrealized gains and losses under each method? How are the unrealized gains and losses reported?

Week 5 discussion

Dq1

Contingent Liabilities

Define contingent liability. What is the criteria to determine whether or not to report the contingency on financial statements? What supporting documentation is required? Please provide a detailed example of a contingent liability.

Dq2

Current Liabilities

Please identify a type of current liability. For the current liability you select, please identify the general rule on reporting the current liability on the financial statement.

Week 6 discussion

Dq1

Bonds and Notes Payable

Let’s discuss the differences between bonds and notes payable. How do we account for bonds when they are issued at par, at a premium, and at a discount? What are the required disclosures for notes and bonds payable?

Dq2

Bond Features

Reflect on the materials you have reviewed for this week, including your e-book, lesson, and Becker material. What are the key features of bonds? Let’s also discuss some of the different types of bonds. What are debenture bonds or collateralized bonds? What are callable bonds and what are convertible bonds? How are they accounted for?

Week 7 discussion

Dq1

Capital Lease

Please define a capital lease. What is the criteria to categorize a lease as a capital lease? Which financial statements are impacted upon the determination that a lease is a capital lease?

Dq2

Operating Versus Capital Leases

Please define an operating lease. How is an operating lease different than a capital lease? Which financial statements are impacted on the determination that a lease is an operating lease?