02 Jan Select one entry presented

ACCT405 Week 1 Discussion Latest 2017 October

WEEK 1: THE EQUITY METHOD AND ACCOUNTING CHANGES

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What is the essence of the equity method? When should you use the equity method and why? What are some of the limitations of the equity method? (CO 1)

ACCT405 Week 2 Discussion Latest 2017 October

WEEK 2: FAS 141R AND ACQUISITION METHOD

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Summarize what you consider to be the important aspects of FAS 141R and tell the class the top five things you learned by reading the initial pages of this new standard. How does FAS 141R compare to FAS 141? In your opinion, what really changed? (CO 2)

ACCT405 Week 3 Discussion Latest 2017 October

WEEK 3: INTERNAL INVESTMENT ACCOUNTING ALTERNATIVES

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Compare and contrast the equity method, the initial value method, and the partial equity method for internal investment accounting. What are the differences? How do those differences affect reporting of the investment and income account? (Before the weekend, try to complete the Comprehensive Illustration problem beginning on page 117, and tell the class how the different methods affected the outcome.) (CO 2)

ACCT405 Week 4 Discussion Latest 2017 October

WEEK 4: COMPREHENSIVE ILLUSTRATION

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Consolidations: Complete one of the required elements of the Comprehensive Illustration beginning on page 175 and check your work against the provided solution. Explain the process to the class in your own words and then show us your work, worksheets, and entries. Review the work of one other student who prepared an answer on a different element of the problem, and provide a critique using FAS 160 as a reference. (CO 3)

ACCT405 Week 5 Discussion Latest 2017 October

WEEK 5: INTERCOMPANY AND LAND TRANSACTIONS

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Check out page 207 of your textbook and explain one item from the section titled The Development of Consolidated Totals. Note the item and tell the class details of how that item would be adjusted at the end of a reporting cycle. Why is it important that intercompany transactions are eliminated prior to issuing financial reports? In answering these questions, consider your readings, lecture, and your review of the Becker materials. (CO 3)

ACCT405 Week 6 Discussion Latest 2017 October

WEEK 6: BUDGETS IN A FOREIGN CURRENCY AND CURRENCY TRANSLATION

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You have just won a free trip to the destination of your choice and all airline or other transportation costs are provided (OK, this is just pretend!), but you need to budget for your expenses during the 3 days you will be there, because you want to be able to buy the correct amount of foreign currency.

Using either the direct method or indirect method, prepare a budget to include your hotel, food, and entertainment costs for the 3 days. Select one of the recommended locations listed below and then, using the appropriate foreign currency conversion rate for the end of month prior to your departure date (today), tell the class the currency exchange method, currency need for your location, quoted price, Internet link to that quote, budget amount in U.S. dollars, and the amount of foreign currency you will need when you arrive.You may choose any of the following locations: Paris, France; London, England; Sydney, Australia; Hong Kong, China; or Agra, India.

For historical currency quotes, http://www.x-rates.com/ (Links to an external site.)Links to an external site. is one recommended site.

For your response discussion requirement, critically examine the budget and currency calculations of another student. Tell that student what he or she did correctly or incorrectly. (CO 4)

ACCT405 Week 7 Discussion Latest 2017 October

WEEK 7: DISSOLVING A PARTNERSHIP

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Select one entry presented in the textbook, dealing with the dissolution of partnerships, and explain that entry to the class. Please try to use an entry not already explained by your classmates. Be ready to answer all questions concerning that entry using what you have learned from your reading, lecture, and Becker materials (CO 5).