Strayer ACC499 all discussions

WEEK 1

week 1 discussion1

"Operating and Capital Leases" Please respond to the following:

• From the e-Activity, analyze the results of the proposed changes to lease accounting on operating and capital leases. Identifying how the right-of-use model will impact financial reporting, indicate how companies are likely to manage the change in reporting.
• Discuss recommendations you would make to chief financial officers (CFOs) of retailers, service providers, and other businesses that lease several locations or have substantial leases of real estate or other assets. Indicate the pros and cons of each approach

week 1 discussion 2

"Leasing Restatements in the Restaurant Industry" Please respond to the following:

• From the case study, create an argument for the use of principles-based accounting for leases over rules-based accounting under GAAP, based on the financial statement restatements in the restaurant industry. Provide support for your argument.
• Assess the materiality of the errors, direction provided by the Securities and Exchange Commission (SEC), and the Sarbanes-Oxley Act (SOX) on the decision by management to restate the financial statements. Indicate the likely impact to stakeholders when financial statements are restated.

WEEK 2

Week 2 Discussion 1

"Equity-Based Compensation" Please respond to the following:

• From the e-Activity, discuss the impact of adopting IFRS reporting on equity-based accounting for financial reporting and tax payments. Then, recommend a strategy for companies adopting IFRS to minimize the impact of the accounting treatment.
• Examine the potential results of measuring the fair market value of the equity-based compensation at the grant date on financial statements under GAAP only. Provide recommendations you would make to minimize any distortions in fair market value

Week 2 Discussion 2

"Harley-Davidson(B) 2010" Please respond to the following:

• From the case study, examine the significant differences between the Harley-Davidson 2008 securitization and the 2009 securitization and the manner in which these differences are indicators of the financial health of the company. Examine the impact of the sub-prime mortgage on the securitization of Harley-Davidson.
• Analyze the debt-to-equity ratio of Harley-Davidson for 2008 and 2009, and discuss the impact these ratios had on the market value of the company. Propose at least two alternatives to additional securitization to finance current receivables, and provide a justification for each.

WEEK 3Week 3 Discussion 1COLLAPSE

"Global Mergers and Acquisitions" Please respond to the following:

• From the e-Activity, contrast the impairment of goodwill on the financial statements of the entity reporting under international financial reporting standards (IFRS) that you researched with the impairment of goodwill on the financial statements of the same entity reporting under generally accepted accounting principles (GAAP). Indicate how stakeholders in the company are likely to react to the impairment. Provide support for your rationale.
• Examine the relationship between acquisition costs of the entity that you researched and the goodwill impairment charges related to the acquired entity. Indicate the most likely impact to the business.

Week 3 Discussion 2

From the case study, assess the major problems Sirius and XM radio faced during the acquisition of XM by Sirius as compared to the average acquisition during this period. Describe the key benefits of the acquisition to Sirius and XM."Sirius XM Radio" Please respond to the following:

• Analyze the value of the Howard Stern’s show to Sirius XM Radio. Given your prediction of his continued success, provide a recommendation on contract extension for Stern based on his contribution to the financial stability of the company.

WEEK 4

"Fair Value Accounting Under IFRS" Please respond to the following:

• From the e-Activity, in terms of which takes precedence and provides the most information, evaluate the potential interaction of IFRS13 fair value measurement with other IFRS fair value measurement standards. Create an argument for the increased disclosure requirements under IFRS 13 as compared to other IFRS standards addressing fair value measurement. Provide support for your argument.
• Examine the main problems that an entity may encounter, and determine the highest and best use for fair value measurements under IFRS 13. Identify and provide alternative recommendations that can be used for determining fair value of assets when active markets are not available.
  

"Asset Impairments: The Recession of 2008-2009" Please respond to the following:

• From the case study, compare the disclosure notes provided in Nestle, Swatch Group, and Royal Bank of Scotland with the disclosure notes of News Corp and CBS Corporation. Explain which disclosure notes are more informative to the stakeholders in the evaluation of the financial statements.
• Contrast the difference between the impairment testing of goodwill and the impairment testing requirements for other assets. Examine the purpose of the differences identified in testing impairment of goodwill and other assets.

WEEK 5

Week 5 Discussion 1

"Accounting for Pension Plans" Please respond to the following:

• From the e-Activity, create an argument for the use of the mark-to-market accounting method for pension accounting. Evaluate the impact of earnings volatility on financial reporting using mark-to-market accounting, and indicate whether or not you believe this is a fair representation of pension obligations.
• Defend the current GAAP rules for pension accounting reporting on the balance sheet and the income statement. Recommend a change you would make to the current pension accounting to more accurately reflect the future obligations of a company.

Week 5 Discussion 2

"General Motors" Please respond to the following:

• From the case study, assess the benefits and detriments of the U.S. Government-proposed bankruptcy plan that conserved General Motors’ liability to the United Auto Workers (UAW) pension and retiree health care fund. Indicate your agreement or disagreement with this approach. Provide support for your rationale.
• Examine the major advantages of transferring the post-retirement benefits to the UAW by General Motors. Indicate the likely impact to the company and its employees.

WEEK 6
Week 6 Discussion 1

"Cyberattacks in Public Companies" Please respond to the following:

• From the e-Activity, analyze the effects of the SEC‘s data breach disclosure requirement on financial reporting, based on the current language of the requirement. Recommend a change to the disclosure requirements to strengthen public company disclosures of cyberattacks. Provide support for your rationale.
• Examine the impact of cyberattacks on potential investors in a public company. As an auditor, provide your recommendations for including the potential of a cyberattack in the 10-K, as opposed to an actual attack. Provide support for your recommendation.

Week 6 Discussion 2

"Koss Corporation" Please respond to the following:

• From the case study, contrast the responsibilities of the independent auditor and board of directors with the responsibilities of Koss management for the embezzlement. Indicate the party that was ultimately responsible for the embezzlement. Provide support for your rationale.
• Recommend two controls that you would establish at Koss Corporation over electronic fund transfers. Indicate how each of the recommended controls would minimize the exposure to fraud in the future. Provide support for your recommendations.

WEEK 7

Week 7 Discussion 1

"Channel Stuffing" Please respond to the following:

• From the e-Activity, evaluate the requirements under GAAP related to channel stuffing practices on financial statements. Recommend key additional requirements, and justify those requirements.
• From the e-Activity, examine the impact of channel stuffing on financial reports used for internal decision making. Create a scenario involving a faulty internal decision based on channel stuffing.

Week 7 Discussion 2

"Carton Medical Devices"Please respond to the following:

• From the case study, determine how the standard cost system in Carton Medical Devices can be used for product costing and inventory valuation. Indicate the efficiencies that can be gained from the system.
• Examine the use of Carton‘s standard cost system in product costing for cost analysis, and indicate the intelligence that management is likely to gain using this approach.

WEEK 8week 8 discussion 1

"AICPA Code of Professional Conduct Violations" Please respond to the following:

• From the e-Activity, discuss one violation of the AICPA Code of Professional Conduct leading to a disciplinary action. Explore the risks that relationships or circumstances played in the failure of the CPA to comply with the rules of the AICPA Code of Professional Conduct leading up to the violation.
• Examine current safeguards available to reduce the risks of the violation you identified. Discuss the specific safeguard you would recommend to reduce risks if confronted with a similar situation.

week 8 discussion 2

"IBM and Google" Please respond to the following:

• From the case study, explain whether or not you agree with IBM’s cost-reduction decisions regarding both the pension plan overtime for employees and the acquisition of a competitor to protect IBM’s competitive position in the mainframe business. Examine how IBM’s actions contradict its value statement.
• Support or critique Google’s actions, as identified in the situations within the case study. Discuss the impact of Google’s actions on its reputation as an ethical and socially responsible firm.

WEEK 9
week 9 discussion 1

"Internal Controls" Please respond to the following:

• From the e-Activity, examine the importance of the audit committee oversight related to the quality of the internal controls of an organization. Analyze the audit committee’s responsibilities regarding risk assessment and internal control monitoring. Indicate whether or not the audit committee is the best to perform the function.
• Contrast the opinion provided by the independent auditor concerning management’s assessment of internal controls over the financial reporting system with the audit opinion on the financial statements in general. Argue for providing both a qualified opinion over the financial reporting system and an unqualified opinion on the financial statements.

week 9 discussion 2

"Apple, Inc." Please respond to the following:

• From the case study, in 2009, the FASB issued a ruling related to income recognition from multiple element sales involving software to various stakeholder groups. Evaluate the impact of Apple’s retrospective restatement of its financial statements resulting from FASB’s ruling. Provide support for your rationale.
• From the case study, examine the influence of both Apple’s reported deferred revenue and the lobbying by Apple executives on FASB’s ruling. Indicate your agreement or disagreement with Apple’s attempt to influence FASB’s ruling.

WEEK 10

week 10 discussion 1

"Taxes" Please respond to the following:

• From the e-Activity, create a scenario reflecting the differences between GAAP and international accounting standards for taxes. Determine which reporting standard best reflects financial reporting for taxes, and support your position.
• Examine the impact of FIN 48 (Accounting for the Uncertainty in income taxes) on GAAP reporting. Identify the benefits of the requirements on financial reporting. Assess whether FIN 48 was necessary, and support your position.

week 10 discussion 2

"Bethlehem Steel Corporation's Deferred Taxes"Please respond to the following:

• From the case study, evaluate Bethlehem Steel’s valuation allowance in relation to the company’s ability to use deferred tax benefits in the future. Justify the position taken by Bethlehem Steel in the financial statements.
• From the case study, clarify the temporary differences identified in the tax footnote to Bethlehem Steel’s 2000 10-K due to employee benefits, depreciable assets, and the tax loss carried forward. Indicate what a user of the financial statement information can glean from reading the tax footnote to Bethlehem Steel’s 2000 10-K.

WEEK 11

week 11 discussion 1

"Course Wrap-Up" Please respond to the following:

• Discuss at least two topics covered in this course that expanded your knowledge of the topic.
• Explain how you plan to use this additional knowledge.

week 11 discussion 2

"Application" Please respond to the following:

• Discuss how the concepts from this course can be applied to your current or future accounting position.
• Discuss whether or not your feel prepared to enter the profession of Accounting. Identify what could help you further.