Ashford ACC307 2021 August Week 4 Discussion (dq1+dq2) Latest

ACC307 Intermediate Accounting III

Week 4 Discussion

DQ1 Accounting Changes [WLOs: 5, 6, 7] [CLOs: 4, 5]

Prior to beginning work on this discussion, review Chapters 20 and 21 in the textbook.

Write: Discuss why disclosures are important whenever there is a change in accounting method or estimate. To elaborate on this, discuss the following:

When is a change acceptable?

How do disclosures assist the financial statement user?

Make sure your initial post is more than 200 words, and include an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper (Links to an external site.) resource from the Ashford Writing Center for proper use of citations.

DQ2 Accounting Changes and Error Corrections [WLOs: 5, 6, 7, 8] [CLOs: 4, 5]

Prior to beginning work on this discussion, review Chapters 20 and 21 in the textbook.

Write: Read the interview with Lawrence Steenvoorden in Chapter 21 in your textbook and answer the following questions:

What are the costs of implementing an accounting change?

What are some other possible costs of changing accounting methods?

Can you think of examples other than the ones provided in your reading this week? Share them with your classmates.

Make sure your initial post is more than 200 words, and include an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper (Links to an external site.) resource from the Ashford Writing Center for proper use of citations.