1. ACC 305 Academic professor/tutorialrank For more course Tutorials www.tutorialrank.com

2. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 1 Assignments E 3 ASHFORD ACC 305 Week 1 DQ 1 FASB and Ethics ACC 305 Week 1 Assignments E 3-18, E 3-20, J Case 3-5 Research Case 1-3 (page 45) The purpose of this case is to introduce you to the information available on the website of the Financial Accounting Standards Board (FASB). Required: Access the FASB home page on the Internet. The web address is www.fasb.org. Answer the following questions. www.fasb.org 1. Describe the mission of the FASB. 2. Who are the current Board members? Briefly describe their backgrounds. 3. How are topics added to the FASB’s technical agenda?

3. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 1 DQ 2 Cash versus Accrual ASHFORD ACC 305 Week 2 DQ 1 Earnings Management Case 4 Judgment Case 2-1 (page 109) You have recently been hired by Davis & Company, a small public accounting firm. One of the firm’s partners, Alice Davis, has asked you to deal with a disgruntled client, Mr. Sean Pitt, owner of the city’s largest hardware store. Mr. Pitt is applying to a local bank for a substantial loan to remodel his store. The bank requires accrual based financial statements but Mr. Pitt has always kept the company’s records on a cash basis. He does not see the purpose of accrual Companies often are under pressure to meet or beat Wall Street earnings projections in order to increase stock prices and also to increase the value of stock options. Some resort to earnings management practices to artificially create desired

4. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 2 DQ 2 Revenue Recognition Case 1 ASHFORD ACC 305 Week 2 Problem E1 Revenue earned by a business enterprise is recognized for accounting purposes at different times, according to the circumstances. In some situations revenue is recognized approximately as it is earned in the economic sense. In other situations revenue is recognized at point of delivery. Required: 1. Explain ACC 305 Week 2 Problem E4-19 Wainwright Corporation

5. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 2 Problem E2 ASHFORD ACC 305 Week 2 Problem E3 ACC 305 Week 2 Problem E4-22 Tiger Enterprises ACC 305 Week 2 Problem E5-3 Instalment sales

6. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 2 Problem E4 ASHFORD ACC 305 Week 2 Problem E5 ACC 305 Week 2 Problem E4-16 Bluebonnet Bakers ACC 305 Week 2 Problem E5-10 Project Contracts

7. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 2 Problem E6 ASHFORD ACC 305 Week 2 Problem Integrating Case 5 ACC 305 Week 2 Problem E4-19 Wainwright Corporation ACC 305 Week 2 Problem Integrating Case 5-23

8. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 2 Problem Judgment Case 4 ASHFORD ACC 305 Week 3 Communication Case 6 ACC 305 Week 2 Problem Judgment Case 4-9 Communication Case 6-3 on page 334 Harvey Alexander, an all-league professional football player, has just declared free agency. Two teams, the San Francisco 49ers and the Dallas Cowboys, have made Harvey the following offers to obtain his services: 49ers: $1 million

9. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 3 Judgment Case 7 ASHFORD ACC 305 Week 3 P1 Judgment Case 7-5 on page 391 For each of the following independent situations, indicate the apparent internal control weaknesses and suggest alternative procedures to eliminate the weaknesses. 1. John Smith is the petty cash custodian. John approves all requests for payment out of the $200 fund, which is ACC 305 Week 3 P7-14 El Gato Painting Company

10. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 3 P7 ASHFORD ACC 305 Week 4 Assignment E8 ACC 305 Week 3 P7-10, P7-14ACC 305 Week 4 Assignment E8-13, E8-14, E8-18, P8-5, E9-19, E9-21, P9-1

11. ACC 305 Academic professor/tutorialrank ASHFORD ACC 305 Week 4 Communication Case 8 ASHFORD ACC 305 Week 4 Ethics Case 9 Communication Case 8-4 on page 442 You have just been hired as a consultant to Tangier Industries, a newly formed company. The company president, John Meeks, is seeking your advice as to the appropriate inventory method Tangier should use to value its inventory and cost of goods sold. Mr. Meeks has narrowed the choice to LIFO and FIFO. He has heard that LIFO might be better Ethics Case 9-11 on page 497 Danville Bottlers is a wholesale beverage company. Danville uses the FIFO inventory method to determine the cost of its ending inventory. Ending inventory quantities are determined by a physical count. For the fiscal year- end June 30, 2011, ending inventory was originally determined to be $3,265,000. However, on July 17, 2011, John Howard

12. ACC 305 Academic professor/tutorialrank For more course Tutorials www.tutorialrank.com