XACC 280 Financial Accounting Concepts and Principles /Complete to purchase http://allmysolution.com/XACC-280_c328.htm
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XACC 280 Week 1 CheckPoint: Accounting Assumptions, Principles, and Constraints
• Write an essay in 250 to 300 words, including the following:
o The basic assumptions of accounting
o The principles of accounting
o The constraints of accounting
o A conclusion stating how you think sound financial reporting depends on principles,
assumptions, and constraints. Refer to the U.S. GAAP in your response.
CheckPoint: The Accounting Equation
• View PhxKlips The Accounting Equation on your student Web site.
• Write an explanation of the function of each element in the accounting equation, using 100 to
150 words.
• Complete E1-5 on p. 34 of Financial Accounting.
• Post your explanation of the elements in the accounting equation with the answers to E1-5.
XACC 280 Week 2 CheckPoint: Debits and Credits
• View PhxKlips Debits and Credits on your student Web site.
• Complete the questions and fill in the Account Changes matrix in Appendix B.
• Post the completed Appendix B as an attachment.
XACC 280 Week 2 Assignment: Journalizing, Posting, and Preparing a Trial Balance
• Complete P2-2A on p. 81 of Financial Accounting, using the templates in Appendix C for
your answers. Each part of the problem corresponds to one tab in Appendix C. Complete all
three tabs of Appendix C.
• Write a message of 250 to 400 words in the body of your posting that justifies what you did in
Appendix C. This message constitutes part d of the assignment. Address your message to
your creditors and explain:
o The general goals of financial reporting
o The steps you took in the recording process
o How the steps you took support the principles of accounting
• Post your message and the completed Appendix C as an attachment.
XACC 280 Week 3 CheckPoint: Adjusting Entries, Posting, and Preparing an Adjusted Trial Balance
• Complete parts a, b, and c of P3-1A on pp. 128–129 of Financial Accounting.
• Use the templates in Appendix D. Complete all three tabs.
• Post the completed Appendix D as an attachment.
XACC 280 Week 4 CheckPoint: Subsidiary Ledgers and Special Journals
• Explain in 250 to 300 words, your answers to the following:
o What are the advantages of the four different special journals? When would you use each
type?
o What is a subsidiary ledger and what purpose does it serve?
o What is a control account and what purpose does it serve?
o Which two general ledger accounts may act as control accounts for a subsidiary ledger?
o What are the advantages of using subsidiary ledgers?
XACC 280 Week 4 Assignment: Preparing a Financial Statement Worksheet
• Complete E4-1 on pp. 176–177 of Financial Accounting.
• Use the template in Appendix E to complete the 10-column worksheet.
• Post the completed worksheet as an attachment.
XACC 280 Week 5 CheckPoint: Reversing Entries
• Post your answers to BE4-12 on p. 176 of Financial Accounting.
CheckPoint: Closing Entries and a Post-closing Trial Balance
• Complete E4-4 on p. 177 of Financial Accounting. Use the templates in Appendix F and
complete all three tabs.
• Post the completed Appendix F as an attachment.
XACC 280 Week 6 CheckPoint: The Nine Steps of the Accounting Cycle
• Complete The Nine Steps of the Accounting Cycle multimedia activity.
• Capture the screen of the completed accounting cycle in the multimedia activity.
• Write a summary of the nine steps of the accounting cycle, in 100 to 200 words.
• Post your screen capture and written summary.
Exercise: Financial Statements
• Post one or two new concepts you learned from each of the PhxKlips.
XACC 280 Week 6 Assignment: Comprehensive Problem
• Complete the Comprehensive Problem on pp. 189–190 of Financial Accounting.
• Use the templates in Appendix G to complete the problem; complete all six tabs.
• Post the completed Appendix G as an attachment.
XACC 280 Week 7 CheckPoint: Ratio, Vertical, and Horizontal Analysis
The calculations you perform for this CheckPoint form the basis of your analysis of your capstone
project.
• Write in 100 to 200 words an explanation of the three tools of financial statement analysis
and the function of each.
• Examine PepsiCo, Inc.’s Consolidated Balance Sheet on p. A6 in Appendix A of Financial
Accounting, especially its Current Assets, Current Liabilities, and Total Assets for years 2005
and 2004.
• Calculate the following for PepsiCo, Inc. and show your work:
o The Current Ratio for 2005
o The Current Ratio for 2004
o Two measures of vertical analysis—for example, compute the current assets divided by
total assets for each year, and express your result as a percentage
o Two measures of horizontal analysis—for example, compute the total change in assets
by percentage, by dividing current assets in 2005 by current assets in 2004. Compute a
similar percentage for current liabilities
• Examine The Coca-Cola Company’s Consolidated Balance sheet on p. B2 in Appendix B of
Financial Accounting, especially its Current Assets, Current Liabilities, and Total Assets for
years 2005 and 2004.
• Calculate the following for Coca-Cola and show your work:
o The Current Ratio for 2005
o The Current Ratio for 2004
o Two measures of vertical analysis—for example, compute the current assets divided by
total assets for each year, and express your result as a percentage
o Two measures of horizontal analysis—for example, compute the total change in assets
by percentage, by dividing current assets in 2005 by current assets in 2004. Compute a
similar percentage for current liabilities
• Post your explanation and calculations.
Exercise: Career Opportunities for Accountants
• Post your response to the following items:
o Describe two business sectors you might want to work in if you were an accountant and
explain why in 150 to 200 words.
o Research a specific company in one of the business sectors that interests you and
describe how you imagine it might be to work there. Use 100 to 150 words for your
description.
XACC 280 Week 8 CheckPoint: Impacts of Unethical Behavior
• Research a company that has been in the news for unethical practices, such as Enron, Tyco,
Global Crossing, or WorldCom.
• Post a 250- to 300-word response that summarizes your ideas about the following:
o What was the nature of the controversy regarding this company’s practices?
o How were accounting practices involved?
o If you had been an accountant for this company, how would you have acted? Explain
why.
o What might have been done to prevent the controversy?
o What was the affect of unethical behavior on the profitability of the company?
XACC 280 Week 8 CheckPoint: Regulatory Bodies
• Post your response to the following question, using 250 to 300 words: What are the major
regulatory bodies and their functions?
Assignment: Internal Controls
• Write a 750- to 1,050-word paper in APA format, including citations and references,
summarizing your ideas about internal controls.
• Include the following:
o An introduction to internal controls, explaining in your own words the two primary goals of
internal control
o A description of how the Sarbanes-Oxley Act of 2002 has affected internal controls
o An explanation of why a company that announces deficiencies in its internal controls
would probably experience a fall in the price of its stock
o A synopsis of what you consider to be the limitations of internal controls – Cite specific
examples.
o A conclusion that summarizes your main points
o A comparison of the internal control principles of (1) establishing responsibility, (2) using
physical, mechanical, and electronic controls, (3) segregation of duties, and (4)
independent internal verification.
• Post your completed paper as an attachment.
XACC 280 Week 9 Capstone Discussion Question
• Review the annual reports for PepsiCo, Inc. and The Coca-Cola Company in Appendixes A&
B of Financial Accounting. Select either PepsiCo, Inc. or The Coca-Cola Company. In your
estimation, the company you chose may be financially healthier or weaker.
Would you invest in this company? Explain why or why not. Justify your reasoning, by
presenting at least three key financial ratios that analyze the profitability, the liquidity, or the
solvency of the company.
Respond to your classmates’ postings, by agreeing or disagreeing with their assessments,
while pointing to the data.
o Respond to at least one classmate who selected different ratios than those you selected
or a different company to analyze.
o Comment on the significance of the ratios and your classmates’ conclusions.
o Use the same or other ratios to bolster your opinion.
XACC 280 Week 9 Final Project: Financial Analysis
• Review the annual reports for PepsiCo, Inc. and The Coca-Cola Company in Appendixes A
& B, especially the Consolidated Statements of Income and the Balance Sheets on pp. A4,
A6, B1, & B2 of Financial Accounting.
• Write a 1750- to 2,050-word paper in APA format with citations and references that provides
a financial comparison of the two companies and your recommendations to improve the
financial status of each.
• Include the following:
o An introductory paragraph with a statement of the purpose of your paper and a synopsis
of what readers may expect to find in the paper – It is best to write this after writing the
rest of the paper.
o Vertical analyses for both companies – You may use your calculations from the
Checkpoint Ratio, Vertical, and Horizontal Analyses, providing you show your work.
o Horizontal analyses for both companies – You may use your calculations from the
Checkpoint Ratio, Vertical, and Horizontal Analyses, providing you show your work.