ACC 306 AID The learning interface/acc306aiddotcom

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• ACC 306 AID The learning interface/acc306aiddotco
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ACC 306 AID The learning interface
ACC 306 Entire Course (Ash Course) FOR MORE
CLASSES VISIT www.acc306aid.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 18-5ACC 306 Week 5 Analysis
Case 20-10ACC 306 Week 5 Ethics Case 20-5ACC
306 Week 5 Ethics Case 21-7ACC 306 Week 5
Assignment E 20-18, P 21-11, P 21-14ACC 306 Week
5 Final Paper (Lease)
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ACC 306 AID The learning interface
ACC 306 Week 1 Assignment E13-21, E13-22, P12-1,
P12-7,P12-10, P12-14, P13-6 (Ash Course) FOR
MORE CLASSES VISIT www.acc306aid.com ACC 306
Week 1 Assignment E13-21, E13-22, P12-1,
P12-7,P12-10, P12-14, P13-6
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ACC 306 AID The learning interface
ACC 306 Week 1 DQ 1 Equity Method (Ash Course)
FOR MORE CLASSES VISIT www.acc306aid.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.
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ACC 306 AID The learning interface
ACC 306 Week 1 DQ 2 Judgment Case 13-9 (Ash
Course) FOR MORE CLASSES VISIT
www.acc306aid.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 On May 9,
2011, the United States Environmental Protection
Agency (EPA) issued a Notice of Violation (NOV)
to Valleck alleging violations of the Clean Air
Act. Subsequently, in June 2011,
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ACC 306 AID The learning interface
ACC 306 Week 2 DQ 1 Ethics Case 14-8 Hunt
Manufacturing (Ash Course) FOR MORE CLASSES
VISIT www.acc306aid.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.
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ACC 306 AID The learning interface
ACC 306 Week 2 DQ 2 Ethics Case 15-4 (Ash
Course) FOR MORE CLASSES VISIT
www.acc306aid.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.
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ACC 306 AID The learning interface
ACC 306 Week 3 Assignment E 16-24, E 16-25, E
17-10, E 17-19, P 16-7, P 17-16 (Ash Course) FOR
MORE CLASSES VISIT www.acc306aid.com ACC 306
Week 3 Assignment E 16-24, E 16-25, E 17-10, E
17-19, P 16-7, P 17-16
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ACC 306 AID The learning interface
ACC 306 Week 3 Ethics Case 17-6 (Ash Course)
FOR MORE CLASSES VISIT www.acc306aid.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. While performing
some preliminary audit tests, you happen to
notice that employee contributions to these plans
usually do not show up on mutual fund statements
for up to two months following the end of pay
periods from which the deductions are drawn.
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ACC 306 AID The learning interface
ACC 306 Week 3 Integrating Case 16-5 (Ash
Course) FOR MORE CLASSES VISIT
www.acc306aid.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.
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ACC 306 AID The learning interface
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 (Ash
Course) FOR MORE CLASSES VISIT
www.acc306aid.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
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ACC 306 AID The learning interface
ACC 306 Week 4 Communication Case 18-10 (Ash
Course) FOR MORE CLASSES VISIT
www.acc306aid.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. View 2 The distinction
should be eliminated and financial instruments
should instead be reported in accordance with the
priority of their claims to enterprise
assets. One type of security that often is
mentioned in the debate is convertible bonds.
Although stock in many ways, such a security also
obligates the issuer to transfer assets at a
specified price and redemption date. Thus it also
has features of debt. In considering this
question, focus on conceptual issues regarding
the practicable and theoretically appropriate
treatment, unconstrained by GAAP.
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ACC 306 AID The learning interface
ACC 306 Week 4 Ethics Case 19-7 (Ash Course)
FOR MORE CLASSES VISIT www.acc306aid.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. Lane
About the Board meeting Thursday. You may be
right. This may be the time to suggest a share
buyback program.
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ACC 306 AID The learning interface
ACC 306 Week 5 Analysis Case 20-10 (Ash Course)
FOR MORE CLASSES VISIT www.acc306aid.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?
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ACC 306 AID The learning interface
ACC 306 Week 5 Assignment E 20-18, P 21-11, P
21-14 (Ash Course) FOR MORE CLASSES VISIT
www.acc306aid.com ACC 306 Week 5 Assignment E
20-18, P 21-11, P 21-14
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ACC 306 AID The learning interface
ACC 306 Week 5 Ethics Case 20-5 (Ash Course) FOR
MORE CLASSES VISIT www.acc306aid.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. Larry (the company president) already is
in the doghouse with shareholders, Joy thought
to herself. When they see these numbers, theyll
hang him out to dry.
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ACC 306 AID The learning interface
ACC 306 Week 5 Ethics Case 21-7 (Ash Course) FOR
MORE CLASSES VISIT www.acc306aid.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. Ben had sketched out the following
comparison ( in millions) Profits? Yes.
Increasing profits? Yes. The cause of his
distress? The ominous trend in cash flow which is
con sistently lower than net income.
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ACC 306 AID The learning interface
ACC 306 Week 5 Final Paper (Lease) (Ash Course)
FOR MORE CLASSES VISIT www.acc306aid.com ACC 306
Week 5 Final Paper (Lease)
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ACC 306 AID The learning interface