ACC 220 Complete Course
ACC220 Complete Course
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ACC 220 WEEK 3
CHECKPOINT CLASSIFIED BALANCE SHEETS
CheckPoint: Classified Balance Sheets
Write a 200- to 300-word response explaining what information
would be found in each of the following groupings on a classified balance sheet
and how that data might indicate the future success or failure of a
business:
Current assets
Long-term investments
Property, plant, and equipment
Intangible assets
ACC 220 WEEK 5
CHECKPOINT FINANCIAL REPORTING
CheckPoint: Financial Reporting
Write a 200- to 300-word response to the following: Describe how the
following financial reports are used internally in a business: income
statement, balance sheet, CVP income statement, statement of cash flows, and
retained earnings statement. Give real world applications by using
examples to demonstrate the type of business decisions that are made using
these statements.
ACC 220 WEEK 8
CHECKPOINT FLEXIBLE BUDGETS
CheckPoint: Flexible Budgets
Respond in 200 to 300 words, to the following:
What is a flexible budget?
What are the steps to developing a flexible
budget?
What information is found on a flexible budget report?
How is that information used to evaluate
performance?
ACC 220 WEEK 7 DQ
1 AND DQ 2
Discussion Questions
How does budgeting help management make good
business decisions?
What are some of the different types of budgets?
Describe in detail one type of budget covered in the text. Describe what the
budget is used for and what information it provides a business. As you respond
to your classmates, discuss how the budget you described relates to the budgets
they described. Discuss how a business benefits from each of the budgets.
ACC 220 WEEK 8
ASSIGNMENT RESPONSIBILITY CENTER PRESENTATION
Assignment: Responsibility Center Presentation
Imagine you have been selected by your manager
to present a training session to a group of new employees. The new hires do not
have accounting backgrounds and have little or no work history in a
responsibility center. The purpose of this training session is to explain the
functions of each of the different responsibility centers.
Develop a 10- to 12-slide Microsoft® PowerPoint® presentation
that you may use as part of this training session.
Explain what each of the different
responsibility centers is and what each is accountable for and why each center
has its own budget.
Provide an example of the kinds of
decisions where incremental analysis would be used in each center.
Include speaker notes for your
presentation.
ACC 220 WEEK 5 DQ
1 AND DQ 2
Discussion Questions
How would you describe the difference between
financial and managerial accounting? What are the distinguishing features of
managerial accounting?
Select a management function— planning,
directing and motivating, or controlling—and explain how that function relates
to business as a whole. Next, select a different function listed by a
classmate. Discuss with your classmate how the functions you each selected
complement each other.
ACC 220 WEEK 7
CHECKPOINT BUDGET MATRIX
CheckPoint: Budgets Matrix
Use Appendix C to define each of the types of budgets listed and
describe their uses.
Post Appendix C as an attachment.
ACC 220 WEEK 2
ASSIGNMENT FINANCIAL STATEMENTS
Assignment: Financial Statements
Write a 350- to
700-word paper describing a balance sheet, an income statement, a retained
earnings statement, and a statement of cash flows. How does a company use these
financial statements to make future business decisions? Use and define the
following terms in your paper when explaining how a company uses the
information on the statements:
Assets
Comparative statements
Liabilities
Stockholder’s equity
Format your paper
according to APA standards
Post your paper as an attachment.
ACC 220 WEEK 4
ASSIGNMENT INTERNAL CASH CONTROL
Assignment: Internal Cash Control
Write a 700- to
1,000-word paper that addresses which internal controls are not being followed
in these listed situations:
The accounting
department receives from sales invoices once a month. Most of the
information is missing on the invoices.
Rob, Sue, and Bob use
the same cash register at the donut shop.
Sam does the ordering of
materials at the beginning of every month and pays the bill.
Bank reconciliations are
done by the person who is responsible for all cash responsibilities.
New checks came in and
are left on the shelf with other supplies.
Everyone has access to
the computer system and the last audit was seven years ago by the former
accountant.
Include how a company might use the five basic
principles of cash management to increase accuracy for a business. Please
explain all of the internal controls substantively.
Format your paper according to APA standards.
Post your paper as an attachment.
ACC 220 WEEK 1
CHECKPOINT CAREER OPPORTUNITIES
CheckPoint: Career Opportunities
Visit the U.S. Department of Labor, Bureau
of Labor Statistics athttp://www.bls.gov/oco/ocos001.htm for an overview of the accounting field.
Visit www.careers-in-accounting.com for additional details such as salary expectations and
general job expectations.
Locate three job postings within your state
for positions in the field of accounting.
Write a 200- to 300-word summary of the
educational requirements for each position, the starting salary (if listed),
and a brief description of the responsibilities of the position.
ACC 220 WEEK 4
CHECKPOINT CASH MANAGEMENT MATRIX APPENDIX B
CheckPoint: Cash Management Matrix
Use Appendix B. For each principle in the matrix, describe how the
principle ensures the reliability of a company’s financial statements and
provide at least one example of how the principle might work in a real company.
Do not use examples from your text.
Post Appendix B as an attachment.
ACC 220 WEEK 9
CAPSTONE DISCUSSION QUESTION
Capstone Discussion Question
Think back over what you have studied and
learned in this course. Do you have a new perception of or appreciation for the
field of accounting and how it contributes to business? Explain.
ACC 220 WEEK 6
CHECKPOINT COST, VOLUME AND PROFIT QUESTIONS
CheckPoint: Cost, Volume, and Profit Question
Write a 200- to 300-word response that addresses questions 7, 9, &
14 in the Questions section on p. 284–285 of the text.
ACC 220 WEEK 9
FINAL PROJECT BUSINESS PLAN
Final Project: Business Plan
You want to start your own business. You found
an investment group that is willing to give you the capital needed for the
first year of your business, but only if you can convince them
you have a solid plan for the success of this business. Your investor is very
concerned with how the accounting functions of this business will be
handled.
Write a 700- to 1,050-word paper based on the scenario above.
Persuade your investor to put up the capital by addressing the
following questions in your business plan:
What is the name of your business?
What type of business structure is it—sole
proprietorship, partnership, or corporation? Why did you choose that structure?
What type of services or products does your
business provide?
What role will accounting play in the start up of
your business?
What type of work characteristics will you look
for when hiring your accounting staff?
What education should a person have in
budgeting, internal controls, and cash management before going into business?
What kinds of internal controls will you put in
place for the business?
How will your managers use financial information
to predict outcomes for your business?
Format your paper according to APA standards.
Post your paper as an attachment.
ACC 220 WEEK 6
ASSIGNMENT COST, VOLUME, AND PROFIT FORMULAS
Assignment: Cost, Volume, and Profit Formulas
Review the following illustrations found in
Ch. 6 of your text: 6-12, 6-15, 6-17, 6-18, 6-19, & 6-20.Write a 350-
to 700-word paper that addresses the following:
Explain the components of cost-volume-profit
analysis.
What does each of the components mean?
Based on the formulas you have reviewed, what
happens to contribution margin per unit when unit selling prices increase?
Illustrate your explanation with an example from a fictitious company of how an
increase in unit selling prices might affect contribution margin.
When fixed costs decrease, what does this do for
sales? Illustrate your explanation with an example from a fictitious company.
Define contribution ratios.
What happens to contribution ratios as one of
the components changes?
Format your paper according to
APA standards.
ACC 220 WEEK 2
CHECKPOINT PROPRIETORSHIPS, PARTNERSHIPS, AND CORPORATIONS
CheckPoint: Proprietorships, Partnerships, &
Corporations
Explain the differences between a proprietorship, a partnership, and
a corporation in 200 to 300 words. Why would an entrepreneur want to choose one
over the other? If you were starting a new business, which would you choose?
Explain why.
ACC 220 WEEK 3 DQ
1 AND DQ 2
Discussion Questions
When reviewing a financial report, why must
information be reliable, relevant, consistent, and comparable? Why are these
accounting characteristics important? What kinds of problems might result if a
financial report is not reliable, relevant, consistent, or comparable?
How does information from financial reports
influence business decisions? Why is it important for business managers to
understand the information found on financial reports?
ACC 220 WEEK 1 DQ
1 & DQ 2
Discussion Questions
Based on what you know about accounting, what
role do you see it playing in business operations? How dependent do you think a
business is on its accounting department? Explain why.
Why are ethics so important in the field of
accounting?
ACC 220 Complete Course ACC220
Complete Course
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