Grantham ACC220 2022 November All Discussions Latest (Full)

ACC220 Financial Accounting

Week 1 Discussion

Accrual vs. Cash

For your follow up post...review the responses provided by your peers. Engage in conversation, or even civil debate, as you discuss their insights and viewpoints. You may ask questions for clarification (if you are confused by their initial post) or pose questions that advance the conversation. You might even find a topic that leads you to further research in the area!

There are two types of basic accounting methods: Cash Basis Accounting and Accrual Basis Accounting. Find an article that discusses on an organization’s accounting methods (cash-basis or accrual-basis) or provide a real-life example. Then, share with the class the selected example’s basic accounting method and the method’s characteristics. Go to at least two other colleagues’ posts that present the other type of basic accounting method and share the difference between the methods.

 

ACC220 Financial Accounting

Week 2 Discussion

Accrual Journal Entries

US GAAP mandates for proper accrual journal entries to comply with the matching principle. Find an article that discusses how a business utilizes accrual journal entries. Then, present a summary of the article or provide a real-life example. Go to at least 2 other colleague’s posts and discuss how the accrual journal entries impacted the business’ financials.

 

ACC220 Financial Accounting

Week 3 Discussion

Receivables

One way for organizations to generate revenue is through accounts receivables. Go to Yahoo Finance and select a company. Then, share with class on one of the company’s receivables. Go to at least 2 other colleagues’ posts and provide the colleague’s selected company’s accounts receivable turnover.

 

ACC220 Financial Accounting

Week 4 Discussion

Inventory Methods

Organizations utilize at least one inventory method (FIFO, LIFO, or weighted-average) to calculate their cost of goods sold and ending balance of inventory. Find an article that discusses a business that utilizes one of the three inventory methods or provide a real-life example. Then, share with the class the selected example’s inventory method and the method’s characteristics. Go to at least two other colleagues’ posts that present the other type of basic accounting method and share the differences between your selected example’s method and the colleague’s selected example’s method.

ACC220 Financial Accounting

Week 5 Discussion

Income Statements

One of the four financial statements is the income statement that presents the organization’s revenue, expense, and net income. Go to Yahoo Finance and select a company. Then, share with the class either the company’s gross profit or total operating expenses, as well as the company’s net income. Go to at least 2 other colleagues’ posts and calculate the colleague’s selected company’s gross profit or total operating expenses that was not shared with the class.

 

ACC220 Financial Accounting

Week 6 Discussion

Assets

Depending on the length of time, assets will either be categorized as current or long-term. Go to Yahoo Finance and select a company. Then, share either a current or long-term asset of the company and the type’s characteristics. Go to at least two other colleagues’ posts with the other type of asset and provide the difference between the types.

 

ACC220 Financial Accounting

Week 7 Discussion

Liabilities

Depending on the length of time, liabilities will either be categorized as current or long-term. Go to Yahoo Finance and select a company. Then, share either a current or long-term liability of the company and the type’s characteristics. Go to at least two other colleagues’ posts with the other type of liability and provide the difference between the types.

 

ACC220 Financial Accounting

Week 8 Discussion

Financial Ratios

Financial ratios help to analyze the company’s financial health. Go to Yahoo Finance and select a company. Then, calculate at least one of the financial ratios that was discussed in your textbook for that company. Go to at least two other colleague’s posts and calculate another financial ratio.