ACC 400 All DQs

Week 1

Discussion Questions

What is a current asset? What is a non-current asset? What is the difference between the two types of assets? In which financial statement would you find these assets?

What is an example of a significant accounting estimate? What is the importance of these estimates? How do ethics play into the decision-making process? Which financial statements include significant accounting estimates? Why?

What are internal controls? Why do companies need them? What are some examples of internal controls? Who is responsible for developing internal controls? What are some limitations of internal controls?

What are intangible assets? How does a business obtain intangible assets? What is goodwill? Why would a business have an account for goodwill?

Week 2

Discussion Questions

Explain what a current liability is and identify the major types of current liabilities. Explain what a long term liability is and provide examples. In which financial statement would you find these liabilities?

What are the types of equity accounts? What is the role of equity accounts in raising capital? Under what circumstances would you not pay a dividend? Under what circumstances would you pay a dividend?

Identify and discuss the major characteristics of a corporation, including the advantages and disadvantages of being a corporation.

Week 3

Discussion Questions

What is horizontal analysis? What is the value in using horizontal analysis? Why would a company use this analysis? What does this analysis tell you?

What are examples of irregular items? How does a change in accounting principles affect the financial statements? Who in the organization is responsible for the application of a change in an accounting principle? Why?

What are the three most common types of ratios? Why are they important? Which ratios would you use to determine the long-term viability of an organization? Why?

Week 4

Discussion Questions

What are some of the various lease options? When would you use one option over the others? What could be the financial impact of this decision?

Under which circumstances would you lease versus purchase? What are the criteria that you would use to make this decision? What is the financial impact of this decision?

What are the components of the capital structure? What are the differences of these components? How do you determine the optimal mix of the components of the capital structure?