ACC 211 Week 2 Discussion 1

ACC 211 Week 2 Discussion 1 | Assignment Help | excelsior-college

M2D1: Let's Discuss: Accrual Versus Cash method of Accounting

In this module, we learned the differences between accrual-basis accounting and cash-basis accounting.  Additionally we explored how events are treated differently under the two methods. For this week’s discussion – you must select one of the following topics as your initial response.  In addition to your initial response, please be sure to respond to at least two other student’s initial responses as well. Topic Choices:

1.      Describe how you can apply the concepts of accrual and cash accounting to your personal life or professional career.

2.      Share with the group any aspects of these concepts that you find confusing or need clarified.

3.      Pick an example transaction and share with the group how it would be accounted for under both the accrual method and the cash methods of accounting.

This discussion will address the following Module Outcomes:

·         MO1-1: Apply the fundamental concepts and principles in accounting. (CO1)

·         MO1-2: Apply the primary financial accounting equation and its components. (CO1)

·         MO1:3: Apply the rules of debit and Credit (CO1)

Consult the Discussion Posting Guide for information about writing your discussion posts. It is recommended that you write your post in a document first. Check your work and correct any spelling or grammatical errors. When you are ready to make your initial post, click on "Reply." Then copy/paste the text into the message field, and click "Post Reply." For full credit, please be sure to respond to more than two other students’ initial responses, as well.

To respond to a peer, click “Reply” beneath her or his post and continue as with an initial post.

Evaluation

This discussion will be graded using the discussion board rubric. Please review this rubric, located on the Rubrics page within the Start Here module of the course, prior to beginning your work to ensure your participation meets the criteria in place for this discussion. All discussions combined are worth 20% of your final course grade. .