Ashford ACC306 Week 1 Discussion (dq1+dq2) Latest 2021 June

ACC306 Intermediate Accounting II

Week 1 Discussion

DQ1 Fraud [WLO: 1] [CLO: 1]

Prior to beginning work on this discussion, review the following:

Chapter 8 in the textbook

Write: Make sure your response addressing the following question is more than 200 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper (Links to an external site.) resource from the Writing Center for proper use of citations.

Revenue is a common place for fraud because it is a significant measure of a company’s success.

Describe two U.S. or international accounting fraud cases related to improper revenue recognition.

Cite the resource where you found the information.

Reflect on each fraud case, and share your thoughts on why it was deemed fraud and how a company can avoid making similar mistakes.

DQ2 Revenue Recognition [WLOs: 1, 2, 3, 4] [CLO: 1]

Prior to beginning work on this discussion, review the following:

Chapter 8 in the textbook

Write: Make sure your response addressing the following question is more than 200 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper (Links to an external site.) resource from the Writing Center for proper use of citations.

Discuss areas of judgment that may be needed to apply the five steps of revenue recognition. The following may assist you in creating a more robust conversation around this topic:

List the five steps, and explain judgments for each one.

What happens if the criteria are not met?

Give examples when appropriate.