Devry ACCT212 2022 January Discussions Latest (Full)

ACCT212 Financial Accounting

Week 1 Discussion

Financial Statements

Describe the four financial statements. Discuss the purpose of each financial statement and how one financial statement is related to the other.

ACCT212 Financial Accounting

Week 2 Discussion

Accounting System

From your reading of Chapter 2 and your research, describe a business transaction. What are the different types of accounts a company uses? Discuss with examples.

ACCT212 Financial Accounting

Week 3 Discussion

Accrual Accounting

Let's start the week by exploring accrual-basis accounting. Why do accountants use the accrual-basis method instead of the cash basis method of accounting? What are some of the benefits of using accrual accounting?

ACCT212 Financial Accounting

Week 4 Discussion

Compliance and the Sarbanes-Oxley (SOX) Act

In the context of the world of business, explain what we mean by the term compliance. Relating to this, is anyone familiar with the Sarbanes-Oxley (SOX) legislation enacted by Congress in 2002? What was contained in this legislation, and what prompted it? Can you provide a specific example of one of the major points of this legislation? Why was it enacted? Separately, does the term compliance apply to any other areas of business besides the SOX legislation?