ACC100 All Weeks Discussions Latest 2019 January Question # 00598504 Course Code : ACC100 Subject: Business Due on: 02/23/2019 Posted On: 02/23/2019 08:13 AM Tutorials: 1 Rating: 4.8/5

ACC100 Accounting

Week 1 Discussion

Explain the major advantages and disadvantages of a business
owner with minimal accounting experience maintaining the company’s book.

ACC100 Accounting

Week 2 Discussion

In your own words, explain the recording process and the
accounting equation to someone who has no accounting experience.

Then, give your opinion on the elements or areas that might
cause the most confusion or be the most difficult to grasp.

ACC100 Accounting

Week 3 Discussion

Watch Video: “Cash and Accrual – Conceptual”
(4:44)

Click here to open the video in a new window.

Based on the video, explain two (2) advantages and two (2)
disadvantages in using both the cash and the accrual basis of accounting.

Then, determine the one (1) that you believe provides the
most useful financial information to users.

Identify at least two (2) types of businesses that would
benefit by preparing financial statements using either the cash or accrual
basis of accounting.

ACC100 Accounting

Week 4 Discussion

Identify and discuss the key steps in the closing process
that provide the most opportunity to make mistakes in processing account
transactions. Why did you select these steps, and what makes them confusing?

Make at least two (2) recommendations for improving the
accuracy and reliability of the information in the gaps that you have
identified.

ACC100 Accounting

Week 5 Discussion

Video: Modernizing Inventory Management (5:04)

Click here to open the video in a new window.

This video explores the technological tools Cole Hardware
uses to simplify its daily routines and reporting.

After watching this video, explain how Cole Hardware used
technology to manage inventory, and identify at least two (2) benefits of the
use of this technology by the company.

ACC100 Accounting

Week 6 Discussion

Use the Internet to research the annual report of at least
one (1) merchandising company. For example, while you can’t use this one, here
is one from Walmart.

Determine which costing method (Last In First Out [LIFO],
First In First Out [FIFO], or weighted average cost) is used to record
inventory by your selected company.

Share three (3) advantages and three (3) disadvantages of
using the type of costing method (LIFO, FIFO, and weighted average) that the
company has implemented.

Provide support for your response.

ACC100 Accounting

Week 7 Discussion

Imagine you are a consultant hired to convert a manual
accounting system to an automated system. Suggest the key advantages and
disadvantages of automating a manual accounting system. Identify the most
important step in the conversion process. Provide a rationale for your
response.

ACC100 Accounting

Week 8 Discussion

Employee theft is a major problem in the U.S. retail
industry. Information obtained from SecurityInfoWatch reported that
twenty-three (23) major retailers alone apprehended over 1.1 million
shoplifters and dishonest employees, and recovered more than $189 million from
these thieves in 2012. Watch J. Farrell’s video below titled “Prevent
Employee Theft in Your Business,” and provide at least two (2) examples of
internal controls that could be implemented to reduce theft in the U.S. retail
industry.

ACC100 Accounting

Week 9 Discussion

Watch this video on Bad Debts (Allowance Method, Direct
Write Off) and discuss the primary advantages and disadvantages of applying the
direct write-off over the allowance method of writing off accounts. Take a
position on whether estimating the allowance for doubtful accounts provides the
opportunity to distort gross income. Provide support for your rationale.

ACC100 Accounting

Week 10 Discussion

Use the Internet to research an annual report of a retail
company. Then, imagine you are an investor or creditor and suggest the ratios
that you believe would provide an investor or creditor with the most important
information needed to make accurate predictions about the company’s financial
condition. When analyzing a company, is it more important to compare the ratios
to competitors or to the company’s previous history? Provide a rationale for your
response. Note: You must provide a link or instructions to the researched
report.

ACC100 Accounting

Week 11 Discussion

Discuss the advantages of understanding accounting as it
relates to your current or future position. Consider careers in management,
sales, business operations, finance, and business ownership.

Please read and respond to the post of at least one (1)
other student.