ACC 306 Reading feeds the Imagination/Uophelpdotcom

1
ACC 306 Reading feeds the Imagination/Uophelpdotco
m

• For more course tutorials visit
• www.uophelp.com

2
ACC 306 Entire Course (Ash Course)

• For more course tutorials visit
• www.uophelp.com
•  
• ACC 306 Week 1 Assignment E13-21, E13-22, P12-1,
  P12-7,P12-10, P12-14, P13-6ACC 306 Week 1 DQ 1
  Equity MethodACC 306 Week 1 DQ 2 Judgment Case
  13-9ACC 306 Week 2 DQ 1 Ethics Case 14-8 Hunt
  ManufacturingACC 306 Week 2 DQ 2 Ethics Case
  15-4ACC 306 Week 3 Assignment E 16-24, E 16-25,
  E 17-10, E 17-19, P 16-7, P 17-16ACC 306 Week 3
  Ethics Case 17-6ACC 306 Week 3 Integrating Case
  16-5ACC 306 Week 4 Communication Case 18-10ACC
  306 Week 4 Ethics Case 19-7ACC 306 Week 4
  Assignment E 18-18, E 18-24, E 19-2, E 19-5, E
  19-9, E 19-24, P 18-5  

3
ACC 306 Week 1 Assignment E13-21, E13-22, P12-1,
P12-7,P12-10, P12-14, P13-6

• For more course tutorials visit
• www.uophelp.com
•  
• ACC 306 Week 1 Assignment E13-21, E13-22, P12-1,
  P12-7,P12-10, P12-14, P13-6
•  
•  

4
ACC 306 Week 1 DQ 1 Equity Method

• For more course tutorials visit
• www.uophelp.com
•  
• P 1213 - Miller Properties - Equity method ?
  LO5 LO6
• On January 2, 2011, Miller Properties paid 19
  million for 1 million shares of Marlon Companys
  6 million outstanding common shares. Millers CEO
  became a member of Marlons board of directors
  during the first quarter of 2011.
• The carrying amount of Marlons net assets was
  66 million. Miller estimated the fair value of
  those net as- sets to be the same except for a
  patent valued at 24 million above cost. The
  remaining amortization period for the patent is
  10 years.
• Marlon reported earnings of 12 million and paid
  dividends of 6 million during 2011. On December
  31, 2011, Marlons common stock was trading on
  the NYSE at 18.50 per share.
•  
•  

5
ACC 306 Week 1 DQ 2 Judgment Case 13

• For more course tutorials visit
• www.uophelp.com
•  
• ACC 306 Week 1 DQ2 Judgment Case 13-9
• Judgment Case 139 - Valleck Corporation - Loss
  contingency and full disclosure ? LO5 LO6
• In the March 2012 meeting of Valleck
  Corporations board of directors, a question
  arose as to the way a possible obligation should
  be disclosed in the forthcoming financial
  statements for the year ended December 31. A
  veteran board member brought to the meeting a
  draft of a disclosure note that had been prepared
  by the controllers office for inclusion in the
  annual report. Here is the note
•  

6
ACC 306 Week 2 DQ 1 Ethics Case 14

• For more course tutorials visit
• www.uophelp.com
•  
• Ethics Case 148 - Hunt Manufacturing - Debt for
  equity swaps have your cake and eat it too ? LO5
• The cloudy afternoon mirrored the mood of the
  conference of division managers. Claude Meyer,
  assistant to the controller for Hunt
  Manufacturing, wore one of the gloomy faces that
  were just emerging from the conference room.
  Wow, I knew it was bad, but not that bad,
  Claude thought to himself. I dont look forward
  to sharing those numbers with shareholders.
• The numbers he discussed with himself were fourth
  quarter losses which more than offset the profits
  of the first three quarters. Everyone had known
  for some time that poor sales forecasts and
  production delays had wreaked havoc on the bottom
  line, but most were caught off guard by the
  severity of damage.
•  
•  

7
ACC 306 Week 2 DQ 2 Ethics Case 15

• For more course tutorials visit
• www.uophelp.com
•  
• Ethics Case 154 - American Movieplex - Leasehold
  improvements ? LO3
• American Movieplex, a large movie theater chain,
  leases most of its theater facilities. In
  conjunction with recent operating leases, the
  company spent 28 million for seats and
  carpeting. The question being discussed over
  break- fast on Wednesday morning was the length
  of the depreciation period for these leasehold
  improvements. The com- pany controller, Sarah
  Keene, was surprised by the suggestion of Larry
  Person, her new assistant.
• Keene Why 25 years? Weve never depreciated
  leasehold improvements for such a long period.
• Person I noticed that in my review of back
  records. But during our expansion to the Midwest,
  we dont need expenses to be any higher than
  necessary.
• Keene But isnt that a pretty rosy estimate of
  these assets actual life? Trade publications
  show an average depreciation period of 12 years.
•  
•  

8
ACC 306 Week 3 Assignment E 16-24, E 16-25, E
17-10, E 17-19, P 16-7, P 17-16

• For more course tutorials visit
• www.uophelp.com
•  
• ACC 306 Week 3 Assignment E 16-24, E 16-25, E
  17-10, E 17-19, P 16-7, P 17-16
•  
•  

9
ACC 306 Week 3 Ethics Case 17

• For more course tutorials visit
• www.uophelp.com
•  
• Ethics Case 176 - VXI International - 401(k)
  plan contributions ? LO1
• You are in your third year as internal auditor
  with VXI International, manufacturer of parts and
  supplies for jet air- craft. VXI began a defined
  contribution pension plan three years ago. The
  plan is a so-called 401(k) plan (named after the
  Tax Code section that specifies the conditions
  for the favorable tax treatment of these plans)
  that permits voluntary contributions by
  employees. Employees contributions are matched
  with one dollar of employer contribution for
  every two dollars of employee contribution.
  Approximately 500,000 of contributions is
  deducted from employee paychecks each month for
  investment in one of three employer-sponsored
  mutual funds.
•  

10
ACC 306 Week 3 Integrating Case 16

• For more course tutorials visit
• www.uophelp.com
•  
• Integrating Case 165 - Williams-Santana, Inc. -
  Tax effects of accounting changes and error
  correction six situations ? LO1 LO2 LO8
• Williams-Santana, Inc. is a manufacturer of
  high-tech industrial parts that was started in
  1997 by two talented engineers with little
  business training. In 2011, the company was
  acquired by one of its major customers. As part
  of an internal audit, the following facts were
  discovered. The audit occurred during 2011 before
  any adjusting entries or closing entries were
  prepared. The income tax rate is 40 for all
  years.
• a. A five-year casualty insurance policy was
  purchased at the beginning of 2009 for 35,000.
  The full amount was debited to insurance expense
  at the time.
•  
•  

11
ACC 306 Week 4 Assignment E 18

• For more course tutorials visit
• www.uophelp.com
•  
• ACC 306 Week 4 Assignment E 18-18, E 18-24, E
  19-2, E 19-5, E 19-9, E 19-24, P 18-5
•  
•  

12
ACC 306 Week 4 Communication Case 18

• For more course tutorials visit
• www.uophelp.com
•  
• Communication Case 1810 Should the present
  two-category distinction between liabilities and
  equity be retained? Group interaction. ? LO1
• The current conceptual distinction between
  liabilities and equity defines liabilities
  independently of assets and equity, with equity
  defined as a residual amount. The present
  proliferation of financial instruments that
  combine features of both debt and equity and the
  difficulty of drawing a distinction have led many
  to conclude that the present two-category
  distinction between liabilities and equity should
  be eliminated. Two opposing viewpoints are
• View 1 The distinction should be maintained.
•  
•  

13
ACC 306 Week 4 Ethics Case 19

• For more course tutorials visit
• www.uophelp.com
•  
• Ethics Case 197 International Network Solutions
  ? LO6
• International Network Solutions provides products
  and services related to remote access networking.
  The company has grown rapidly during its first 10
  years of operations. As its segment of the
  industry has begun to mature, though, the fast
  growth of previous years has begun to slow. In
  fact, this year revenues and profits are roughly
  the same as last year.
• One morning, nine weeks before the close of the
  fiscal year, Rob Mashburn, CFO, and Jessica Lane,
  controller, were sharing coffee and ideas in
  Lanes office.
•  
•  

14
ACC 306 Week 5 Analysis Case 20

• For more course tutorials visit
• www.uophelp.com
•  
• Analysis Case 2010 - DRS Corporation - Various
  changes ? LO1 through LO4
• DRS Corporation changed the way it depreciates
  its computers from the sum-of-the-years-digits
  method to the straight-line method beginning
  January 1, 2011. DRS also changed its estimated
  residual value used in computing depreciation for
  its office building. At the end of 2011, DRS
  changed the specific subsidiaries constituting
  the group of companies for which its consolidated
  financial statements are prepared.
• Required
• 1. For each accounting change DRS undertook,
  indicate the type of change and how DRS should
  report the change. Be specific.
• 2. Why should companies disclose changes in
  accounting principles?
•  
•  

15
ACC 306 Week 5 Assignment E 20

• For more course tutorials visit
• www.uophelp.com
•  
• ACC 306 Week 5 Assignment E 20-18, P 21-11, P
  21-14
•  
•  

16
ACC 306 Week 5 Ethics Case 20

• For more course tutorials visit
• www.uophelp.com
•  
• Ethics Case 205 Softening the blow ? LO1 LO2 LO3
• Late one Thursday afternoon, Joy Martin, a
  veteran audit manager with a regional CPA firm,
  was reviewing documents for a long-time client of
  the firm, AMT Transport. The year-end audit was
  scheduled to begin Monday.
• For three months, the economy had been in a down
  cycle and the transportation industry was
  particularly hard hit. As a result, Joy expected
  AMTs financial results would not be pleasant
  news to shareholders. However, what Joy saw in
  the preliminary statements made her sigh aloud.
  Results were much worse than she feared.
•  

17
ACC 306 Week 5 Ethics Case 21

• For more course tutorials visit
• www.uophelp.com
•  
• Ethics Case 217 - Ben Naegle - Wheres the cash?
  ? LO1 LO3
• After graduating near the top of his class, Ben
  Naegle was hired by the local office of a Big 4
  CPA firm in his hometown. Two years later,
  impressed with his technical skills and
  experience, Park Electronics, a large regional
  consumer electronics chain, hired Ben as
  assistant controller. This was last week. Now
  Bens initial excitement has turned to distress.
• The cause of Bens distress is the set of
  financial statements hes stared at for the last
  four hours. For some time prior to his
  recruitment, he had been aware of the long trend
  of moderate profitability of his new employer.
  The reports on his desk confirm the slight, but
  steady, improvements in net income in recent
  years. The trend he was just now becoming aware
  of, though, was the decline in cash flows from
  operations.
•  
•  

18
ACC 306 Week 5 Final Paper

• For more course tutorials visit
• www.uophelp.com
•  
• ACC 306 Week 5 Final Paper (Lease)

19
ACC 306 Reading feeds the Imagination/Uophelpdotco
m

• For more course tutorials visit
• www.uophelp.com