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Instructions
By continuing to use the company that you adopted in ACC 6109 (I choose Target so I will continue with that company), you will apply the technical competence and other skills required by today’s CPAs. Through case-study analysis, you will develop skills such as communication, presentation, and interpersonal relations in conjunction with technical accounting knowledge.
ACC 620: Financial Reporting II is a continuation of ACC 610. In ACC 620, your focus in the final project will be on developing skills in critical thinking and applying accounting theories and practices, according to generally accepted accounting principles (GAAP). You will be analyzing situations and communicating results to decision makers with an emphasis on stockholders’ equity, income measurement, income taxes, pensions, leases, and statements of changes in financial positions.
Stockholders’ Equity
Determine how your company got its initial financial start in terms of debt (liabilities) or equity (capital). Support your response.
Analyze the equity section of your company’s balance sheet as compared to your company’s industry average. Rate the company’s performance against its competitors.
Review your company’s dividend policy and its history. Based on the information, discuss the trends over the past year.
Income Measurement/Revenue Recognition
Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) came together on a unified project to outline the accounting principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS. Research IAS-18, Revenue, and discuss how it would apply to your company.
Review your company’s revenue over the past two years. Analyze the change in revenue (increase/decrease) and give the reasons for this change.
Reflecting upon your company’s balance sheet, identify the unearned revenue accounts listed. How does your company handle the proper accounting treatment with regard to recognizing revenue from unearned revenue accounts?
For additional details, please refer to the Milestone One Guidelines and Rubric PDF document.
Greetings Class!!!
This week you have two class assignments which include the Cengage CNOW assignments and the beginning of Milestone One- Stockholders’ Equity and Revenue Recognition.
There are seven key areas that I will be focusing on so make sure you review the Rubric Guidelines for Milestone One located within Module 3 Learning Module. When writing make sure you support all your information. Remember, you are researching your company this means you are analyzing situations and communicating your results to decision-makers- which means every item should be reviewed.
Just a few reminders the assignment should be in Microsoft Word. The assignment should also be completed using APA format which includes double spacing, 12-point Times New Roman font, and one-inch margins with at least three cited sources. Your Turnitin report- the goal should be 20% or below.
Looking forward to seeing some great research on the company each of you have selected.
