Ashford ACC310 2021 December Discussions Latest (Full)

ACC310 Cost Accounting I

Week 1 Discussion

DQ1 Accrual Accounting Case Study [WLO: 1] [CLOs: 1, 2, 6]

Prior to beginning work on this discussion, read Chapters 1, 2, and 3 in the textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

Accrual accounting matches revenue with expenses, but accruals can be used to manipulate income and expenses. In the Forbes article Cash Doesn’t Lie (Links to an external site.), author Daniel Fisher discusses the use of negative accruals, changes to estimates, and recognizing income before it is earned. Read the article and then

Discuss the use of each of these three techniques and their effect on current and future earnings reporting.

Explain how changes of accounting estimates that significantly affect income should be reported.

Should they be regarded as a change in accounting principle?

Research revenue recognition and discuss the accounting rules violated that brought down the company Sunbeam.

DQ2 Judgement in Measuring Costs Reflection [WLOs: 1, 2, 3, 4] [CLOs: 1, 2, 3, 5, 6]

Prior to beginning work on this discussion, read Chapters 1, 2, and 3 in the textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

Much of cost accounting requires individuals to use their own judgment. Measuring costs is no exception. In your own words, explain why the use of judgment in cost measurement can lead to markedly different results even within the same firm. Would you not think that, at least within their own organization, management could establish some guidelines for ensuring that cost measurement is done primarily the same way by individuals within the organization? If so, how would that be accomplished? If not, why not? Use an example to illustrate your point.

 

ACC310 Cost Accounting I

Week 2 Discussion

DQ1 Allocation of Costs Reflection [WLOs: 1, 2, 3, 4] [CLOs: 3, 6]

Prior to beginning work on this discussion forum, read Chapters 4, 5, and 17 in your textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

Some managers believe that allocated costs are arbitrary and therefore not relevant, and that only costs that are direct costs should be reported. Explain why you believe all costs are relevant and why allocation of costs is necessary for accurate financial reporting.

DQ2 Cost Drivers Scenario [WLOs: 1, 2, 3, 4] [CLOs: 3, 6]

Prior to beginning work on this discussion forum, read Chapters 4, 5, and 17 in your textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

Determine the difference between a cost object and a cost driver by giving an example of each within the context of a manufacturing plant of your own choosing. Be specific. Explain why this differentiation is important in activity-based costing (ABC).

 

ACC310 Cost Accounting I

Week 3 Discussion

DQ1 Allocation of Costs Reflection [WLOs: 1, 2, 3, 4] [CLOs: 3, 6]

Prior to beginning work on this discussion forum, read Chapter 22 in your textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

Transfer pricing between divisions in a decentralized organization can be a hot topic of conversation. Explain the issues that surround transfer pricing within organizations and give at least three examples of different options a firm may consider when trying to arrive at a fair transfer price for a product. List the pros and cons for the selling division as well as the purchasing division for each scenario presented.

DQ2 Cost Drivers Scenario [WLOs: 1, 2, 3, 4] [CLOs: 3, 6]

Prior to beginning work on this discussion forum, read Chapters 10, 11, and 13 in your textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

A manager in your organization tells you over coffee one morning, “Differential costing is easy; variable costs are the only costs that are relevant.” As the organization’s accountant, how would you respond to this statement?

Later in your conversation this same manager opens a folder and produces a document he just received regarding a special order at a price that he believes is “below cost.” The manager is opposed to accepting orders of this nature because he feels every sale needs to carry a fair share of full costs in order to keep the company from failing. What would be your reply to this manager?

 

ACC310 Cost Accounting I

Week 4 Discussion

DQ1 Balanced Scorecard Reflection [WLO: 1] [CLOs: 2, 3, 5, 6]

Prior to beginning work on this discussion forum, read Chapter 12 in your textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

A Balanced Scorecard is used by a firm to measure progress in each of four areas:

financial

customer perspective

internal-business-process

learning-and-growth

Assume you own a small business with eight employees. It can be a service business or a product-producing business, your choice. In your own words, describe the four measures listed above and then, for your business, give us an example of each measure you might use to track your business process, and indicate why you chose that particular measure.

DQ2 Single and Dual Rates of Allocations [WLO: 2] [CLOs: 2, 3, 6]

Prior to beginning work on this discussion forum, read Chapter 15 in your textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

Allocation of support costs in a manufacturing operation is a topic often debated by managers of the various production departments. In your own words explain the difference between the single-rate and dual-rate methods of support-department allocation and give an example of when each method might be appropriate.

 

ACC310 Cost Accounting I

Week 5 Discussion

DQ1 Master Budget Reflection [WLOs: 1, 2, 3] [CLOs: 1, 5, 6]

Prior to beginning work on this discussion forum, read Chapters 6, 7, and 8 in your textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

Many organizations operate with an annual budget as their guide. This helps the organization ensure that their spending relates to their strategic goals and acts as a tracking measure of progress each accounting period. In your own words, explain the concept of a master budget and explain each of the sub-budgets that are created to support the creation of that master budget. List these sub-budgets in the order in which they would be prepared to arrive at the end result, the master budget.

DQ2 Flexible Budget Reflection [WLOs: 1, 2, 3] [CLOs: 1, 3, 5, 6]

Prior to beginning work on this discussion forum, read Chapters 7 and 8 in your textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

Some individuals assume that a flexible budget means the organization just changes the budget whenever something happens that was not budgeted. Nothing could be further from the truth. In your own words explain the concept of a flexible budget, why it is used, and what value it serves managers within the organization. Illustrate the use of a flexible budget with an example.