ACCT 557

ACCT 557 WEEK 6 This week, we will cover the statement of cash flows and how to create this essential financial analysis tool. (See the Assignments area to get a jump on some of the problems we’ll be concentrating on in this thread.) Before we start doing problems together, what is the difference between the direct and indirect method? Why do companies prefer one over the other? Let’s start with Q 17 and BE 23-3 for practice and i

5 Other / Other Kaplan University / ACCT 557 04 Dec 2015

ACCT 557 WEEK 6 Let’s start with the basics. What is the purpose of the statement of cash flows? Why would we want to convert accrual basis net income to cash basis when creating the statement of cash flows? Differentiate between these three activities: a) operating, b) financing, and c) investing. Provide at least two unique examples for each category (don’t repeat what your classmates have listed).

5 Other / Other Kaplan University / ACCT 557 04 Dec 2015

ACCT 557 WEEK 5 This week, we will cover accounting changes and errors. (See the Assignments area to get a jump on some of the problems we’ll be concentrating on in this thread.) Before we start doing problems together, what is the difference in retrospective or prospective for accounting changes? Let’s start with BE 21-2 and BE 20-6 for practice.

5 Other / Other Kaplan University / ACCT 557 04 Dec 2015

ACCT 557 WEEK 5 Let’s start with changes in accounting principles. They are classified in three possible ways. Describe those ways and give a couple of examples of each. Find a company that had a change in an accounting principle recently. Many companies have changes in accounting principles. One way to facilitate this process is to review the Independent Auditors' Report for a company, because a company is required to disclose any mater

5 Other / Other Kaplan University / ACCT 557 04 Dec 2015