Saturday 8 November 2014

ACC 421 Week 1 Complete

DQ 1. What are the major objectives of financial reporting?

DQ 2. What is the purpose of GAAP and the accounting cycle?

DQ 3. What organizations are responsible for governing financial reporting and what are their roles?

DQ 4. Discuss the conceptual framework and why it is important when establishing new accounting rules.

DQ 5. Watch the following videos about the convergence of US generally accepted accounting principle (GAAP) and international financial reporting standards (IFRS).
http://www.youtube.com/watch?v=mvYgiYtZ3vk
http://www.youtube.com/watch?v=SMgDWuJlAxc
•      Explain the benefits of moving to one global financial reporting standard.
•      Make an opposing argument of why countries should maintain their own set of reporting standards rather than sharing one standard.

Prepare a 700- to 1,050-word paper explaining the overall account in cycle at your organization.
Include a description of the people, processes, and systems that are integral to the cycle.

Resource: WileyPLUS
Access WileyPLUS using the link on the student website.
Complete the WileyPLUS (Exercise 2-4, Exercise 2-6, Exercise 2-9 (Essay), and Exercise 3-5)
To download the complete paper click ACC 421 Week 1 Complete
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