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Checkpoint: Analyzing Statements of Cash Flows

Resource: Ch. 4 of Understanding Financial Statements

Complete Research Problem 4.8a on p. 142 (Ch. 4); however, choose three companies to compare instead of five.

Post your table in a Microsoft® Excel or Word document

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Checkpoint: Findwhat.com Case

Resources: Ch. 5 of Understanding Financial Statements, and Exhibit 5.1: A Checklist for Earnings Quality on p. 153 (Ch. 5)

Compose a 200- to 300-word response to the Findwhat.com Case on p. 188 (Ch. 5).

Refer to the checklist, Exhibit 1, on p. 153 (Ch. 5) for assistance with identifying quality issues.

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Post your answer to Study Question 5.2 on p. 180 (Ch. 5). As you read your classmates' responses, consider the following scenario: If you compared two different companies that utilized two different valuation methods, how might the quality of the results differ? Also, comment on the difficulty of making comparisons between two firms that use different valuation methods.

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Post your answer to Study Question 5.6 on p. 180 (Ch. 5). Discuss the consequences of poor quality reporting. What has the U.S. government done to improve the quality of reporting after recent financial scandals such as Enron?

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Assignment: Presenting to Stakeholders

Resource: pp. 192-193 (Ch. 6) of Understanding Financial Statements

Read the scenario in Problem 6.9 on p. 234 (Ch. 6).

Compose a 350- to 500-word response that includes a paragraph about the main ideas of the annual report and an explanation of how you might present these ideas to stakeholders.

Refer to the questions in the Objectives of Analysis section on pp. 192-193 (Ch. 6) for guidance on tailoring ideas to present to stakeholders.

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Checkpoint: Analyzing Financial Data

Resource: Ch. 6 of Understanding Financial Statements

Complete Problem 6.6 on p. 232 (Ch. 6).

Submit your answers to questions A and B.

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What have you learned in this course about the process of analyzing financial statements?

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Resources: Appendix A, Ch. 1 PowerPoint®, and Ch. 6 of Understanding Financial Statements

Write a 750- to 1,050-word paper evaluating the financial health of a company. Highlight the importance of industry comparisons and trends.

Conduct an industry comparison. In your paper, discuss how your company's financial performance compares with others in your company's industry.

Cite all of your sources, and provide Web site URLs.

Format your paper according to APA standards.

Post your paper as a Microsoft® Word attachment.

Submit a 3- to 5-slide Microsoft® PowerPoint® presentation that highlights the financial data of your company and illustrates the comparisons you wrote about in your paper.

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Resources: Appendix A, Ch. 1 PowerPoint®, and Ch. 6 of Understanding Financial Statements

Write a 750- to 1,050-word paper evaluating the financial health of a company. Highlight the importance of industry comparisons and trends.

Conduct an industry comparison. In your paper, discuss how your company's financial performance compares with others in your company's industry.

Cite all of your sources, and provide Web site URLs.

Format your paper according to APA standards.

Post your paper as a Microsoft® Word attachment.

Submit a 3- to 5-slide Microsoft® PowerPoint® presentation that highlights the financial data of your company and illustrates the comparisons you wrote about in your paper.

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ACC 225 Week 1 Check Point Financial Statements

ACC 225 Week 1 DQ 1

ACC 225 Week 1 DQ 2

ACC 225 Week 1 Exercise Accounting and Business Organizations

ACC 225 Week 2 Assignment Preparing Journal Entries and Trial Balances

ACC 225 Week 2 Check point Debits and Credits

ACC 225 Week 3 Checkpoint Adjustments and Accrual and Cash Basis Accounting

ACC 225 Week 3 DQ 1

ACC 225 Week 3 DQ 2

ACC 225 Week 4 Assignment Preparing Entries and Statements

ACC 225 Week 4 Checkpoint Preparing Balance Sheets and Statements

ACC 225 Week 5 Checkpoint Inventory Systems and Calculating Revenues, Expenses, and Income

ACC 225 Week 5 DQ 1

ACC 225 Week 5 DQ 2

ACC 225 Week 6 Assignment Estimating Inventory and Preparing Multiple-Step and Single-Step Income

ACC 225 Week 6 Checkpoint Computing Inventory Balances and Lower of Cost or Market

ACC 225 Week 7 Checkpoint Accounting Information Systems and Special Journals

ACC 225 Week 7 DQ 1

ACC 225 Week 7 DQ 2

ACC 225 Week 8 Assignment Internal Control and Bank Reconciliations

ACC 225 Week 8 Checkpoint Internal Control and Bank Reconciliations

ACC 225 Week 9 Capstone DQ

ACC 225 Week 9 Final Project Comprehensive Problem-Perpetual

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Checkpoint: Financial Statements

Resource: Fundamental Accounting Principles, Ch. 1

Consider that you have been asked to explain financial statements to someone who knows nothing about accounting.

Review the information on financial statements in Ch. 1 of Fundamental Accounting Principles.

Discuss, in 200-300 words, each of the four financial statements. Explain the different components of the statements as well as what the statements tell about a business.

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Interview a friend or family member about his/her work environment. Is his/her organization a sole proprietorship, partnership, or corporation? Who is involved with the accounting decisions and information? In what ways is your friend or family member affected by the accounting information?

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Describe one of the four basic financial statements, and answer the following questions:

For what is it typically used?
What information is the most valuable?
How does it complement another financial statement?


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Resource: Fundamental Accounting Principles, p. 30

Post your answers to Exercises 1-1 and 1-4

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Resource: Fundamental Accounting Principles, pp. 76 and 80

Complete Exercises 2-4 and 2-5 on p. 76 and Problem 2-2A on p. 80.

Post your answers as an attachment.

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Resource: Fundamental Accounting Principles, p. 74

Post your answers to Quick Study questions QS 2-3, QS 2-4, and QS 2-5.

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Resource: Fundamental Accounting Principles, pp. 116-118 and 120

Complete Quick Study questions QS 3-1 and QS 3-9 on pp. 116 and 117 and Exercises 3-1 and 3-7 on pp. 118 and 120.

Post your answers as an attachment.

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What is the difference between cash basis and accrual basis accounting? Why do accrual-basis financial statements provide more useful information than cash basis financial statements? Describe when each method (cash basis and accrual basis accounting) would be appropriate to use.

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The Ritz Manor is a popular seaside resort. A double room costs $220 for one night. In order to reserve a room, guests must pay one night's stay in advance. On each floor of the hotel, Vendalite Company operates vending machines with energy bars, juices, and other snacks for guests. Vendalite stocks the machines and collects revenue every week. Total average weekly revenue from these machines is $720. The Ritz Manor is entitled to 30% of the revenue from the machines. Vendalite sends a check to the Ritz manor once at the end of each quarter for the resort's share of the revenue.

Based on this information, what type of adjusting entries does the Ritz Manor have?

How are the amounts of these adjustments determined?

Which accounts are affected?

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Complete Problems 4-5A and 4-6A. When responding to the analysis component of 4- 5A, be sure to think critically about the possible errors that are described. In your answer, be sure to carefully analyze the worksheet as if the errors were made and present the evidence for your explanation. Identify the consequences of the errors and describe their impact on the financial statements. Explain whether the error is likely to be discovered when completing the worksheet.

Post your answers as an attachment.

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