ACC305 Week 7 Discussion "Changes in Accounting Principles and Changes in Accounting Estimates

ACC305

Week 7 DiscussionTop of Form

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"Changes in Accounting Principles and Changes in Accounting Estimates" Please respond to the following:

· From the e-Activity, discuss the accounting principles that the identified company changed, and explain the major reasons why the company changed accounting principles. Give your opinion on whether you believe the change in accounting principles was to benefit the corporation or investors and creditors. Provide a rationale for your response.

· Imagine you are the senior accountant at your organization, and management is not sure of the difference between a change in accounting estimate and a change in accounting principle. Briefly discuss the difference between a change in accounting estimate and a change in accounting principle, and outline the impact the changes will have on the company’s financial statements. Give your opinion on why a company should avoid reporting changes in accounting principles and changes in accounting estimates. Provide a rationale for your response.

Week 8 DiscussionTop of Form

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"IFRS and Preparing a Statement of Cash Flows" Please respond to the following:

· Evaluate two (2) major differences between GAAP and IFRS with respect to the statement of cash flows. Give your opinion on which method you prefer. Provide a rationale for your response.

· Imagine you are the senior accountant at your organization and management is unsure of the difference between the indirect method and the direct method of preparing a statement of cash flows. Outline a brief memo to management differentiating between the direct method and indirect method. Advise management on which method the company should use to prepare the statement of cash flows. Provide at least two (2) specific examples on why the method you selected would be beneficial to the company.

Week 9 Discussion

"Segmented Information and Reporting Requirements" Please respond to the following:

· Suppose that management is considering preparing segmented information but is unsure on how to identify a segment and is unsure on why the information is important. Outline a brief memo to management explaining the importance of segmented information, and create an action plan on the main steps management should take to identify a segment. Also, provide your opinion on the effect segmented information will have on the company’s financial disclosure.

· Speculate as to why there has been an increase in reporting requirements in the last ten (10) years. Also, give your opinion on whether the increase in reporting requirements has improved investors’ and creditors’ confidence in corporations. Provide at least two (2) specific examples of improvements to support your opinion.

ECO100

Week 7 Discussion

"Unemployment and Inflation" Please respond to the following:

· Using the e-Activity, compare the unemployment rate in your state to the national average of the past four years. Compare the trends in relation to the types of unemployed workers in your state. Provide support for your response.

· Imagine that you have a fixed 30-year interest rate for your mortgage, and the economy has experienced unanticipated inflation. Examine who the winner and loser would be. Is it the borrower or the lender in the given scenario? Provide support for your response

Week 8 Discussion

"Aggregate Demand and Supply and Fiscal Policy" Please respond to the following:

· Image that the mayor has hired you as a consultant to evaluate the increase in aggregate demand in the city where you live. Describe to the mayor one (1) aggregate demand and supply factor that would have the greatest impact on the economy of your city.

· Determine what fiscal policy measure has a more direct impact to the economy, an increase in government spending or an equal decrease in taxes if consumer confidence is lower than the previous month. Explain your reasoning

Week 9 Discussion

"Money and Monetary Policy and Inflation" Please respond to the following:

· Given our current economic situation, determine the steps that the Federal Reserve should take to help stabilize our economy. Next, explain how each of the following variables will be affected by proposed steps that you have identified: money supply, interest rates, inflation rate, aggregate demand, and output. Provide support for your response.

· From this week’s e-Activity, examine two (2) methods that the Federal Reserve can implement to support a stronger economic recovery. Provide support for each method in your response.

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