ACCT 304 Intermediate Accounting I

ACCT 304 Week 8 Discussion | Devry UniversityWeek 8: InventoriesThe lower-of-cost-or-net realizable value (LCNRV) approach was developed to avoid reporting inventory at an amount greater than the benefits it can provide. The LCNRV approach records losses in the period the value of the inventory drops below its cost instead of later in the period that the goods are ultimately sold. Is this a conservative or an aggressive approach? What does GAAP s

ACCT 304 Week 8 Assignment | Devry University.Week 8: Course ProjectYour team's Narrated PowerPoint Presentation of your Annual Analysis Report is due this week.Please refer to the Course Project Overview in Introduction and Resources for detail.Be sure to submit your assignment for grading.

ACCT 304 Week 7 Assignment | Devry UniversityWeek 7: Course ProjectYour team'sAnnual Analysis Reportis due by the end of Week 7.Please review the Course Project Overview in Introduction and Resources for details.Don't forget to submit your assignment for grading.

ACCT 304 Week 7 Discussion | Devry UniversityWeek 7: Inventory Classification and SystemsMerchandise Inventory is assets held for sale in the ordinary course of business of wholesale and retail companies. Manufacturing inventories are raw materials or WIP that will be used or consumed in the production of finished goods to be sold. Review the Annual Report that you chose for the Week 3 Discussion topic #1 and based on what you've read in the text

ACCT 304 Week 6 Discussion | Devry UniversityWeek 6: CashCash is listed first on the balance sheet because it is the asset most readily available to pay off debt or use in operations. Cash is also one of the assets that most often "grows legs" and walks away. Therefore, it is important that any business protect its cash; it does so through Internal Control Procedures. Please start by defining Internal Control, then discuss specific procedures rel

ACCT 304 Week 5 Discussion | Devry UniversityWeek 5: Time Value of MoneyYou might think of the "time value of money" to be a topic for Finance class, but accountants need an understanding of this topic as well. Let's discuss where/why an accountant may need to use these skills/calculations.Alternative Discussion Topic:You may elect to choose a tweet from the FASB Twitter Feed (@FAFNorwalk) integrated into the home page of this course, summarize t

ACCT 304 Week 4 Discussion | Devry UniversityWeek 4: Revenue RecognitionWhen a company sells a product for cash, it generally recognizes the revenue. However, there are situations when it is not always clear when a company should recognize the revenue. How do you handle a car dealership that sells a warranty contract to its customers for $650 that will cover the next 5 years?Alternative Discussion Topic:You may elect to choose a tweet from the FA

ACCT 304 Week 3 Discussion | Devry UniversityWeek 3: Income StatementStudents often refer to an income statement as the statement that shows how much money a company has made. Money, by definition, is something that is generally accepted as a medium of exchange or means or payment. Keeping that definition in mind, an income statement is not a measure of money, but rather it is a measure of net income (or loss) also known as profit (or loss). Sele

ACCT 304 Week 2 Discussion 2 | Devry UniversityWeek 3: Income StatementStudents often refer to an income statement as the statement that shows how much money a company has made. Money, by definition, is something that is generally accepted as a medium of exchange or means or payment. Keeping that definition in mind, an income statement is not a measure of money, but rather it is a measure of net income (or loss) also known as profit (or loss). Se

ACCT 304 Week 2 Discussion 1 | Devry UniversityWeek 2: Balance Sheet: Purpose and UsesThe balance sheet is one of the first financial statements I turn to when reviewing a company. You can learn a lot about a company by looking at its balance sheet. The balance sheet is also called the statement of financial position. Why is this? What is the purpose of the balance sheet?Alternative Discussion Topic:You may elect to choose a tweet from the FASB T