FIN 324 Week 2

Individual Assignment: Assignments from the Readings

Resource: Accounting Concepts and Applications

Prepare answers to the following questions and exercises:

Discussion Questions 5 and 7 (Ch. 1) of Accounting Concepts and Applications

Practice Exercises 3-1, 3-2, 3-11, 3-12, 3-17related to 3-11 and 3-12and 3-19related to 3-17 (Ch. 3) of Accounting Concepts and Applications

Exercise 3-34 (Ch. 3) of Accounting Concepts and Applications

Discussion Questions 7, 9, 15, and 16 (Ch. 4) of Accounting Concepts and Applications

Learning Team Assignment: Review of Financial Statements Paper

You are attending a managerial meeting in your publicly held organization to hear a proposal for a possible corporate merger with a competitor. After a brief discussion, the chief financial officer conducts a presentation showing the competitor's financial statements. Some of your colleagues have little or no financial background. You have decided to further their understanding by conducting a financial comparison of two publicly traded organizations.

Resources: Electronic Reserve Readings, Week Two readings

Select two publicly traded organizations.

Prepare a 1,050- to 1,400-word paper to provide an introductory overview of the financial statements, addressing the following:

Provide a brief overview of each organization and highlight key information available on each statement, including the following items for each organization:

What is the organizations product or service?

When was the organization established?

What accounting organization audited its financial statements?

Identify the financial statements utilized by your selected organizations.

Define basic accounting concepts, terminology, and transactions discussed in the organization's financial statements, and list the accounts affected by the transaction. Also, identify financial statements affected by the transaction.

Format your paper according to APA standards.

Discussion Questions

Discuss the importance of ethics and internal control programs. Is there a difference between cash and income? Is one more important than the other? In terms of ethics and control, describe at least two effective control techniques.

Example of how cash flow and net income work together:

Discuss the two different financial statements. describe their purpose, layout, and relationship to another financial statement.