GCU ACC502 Week 5 Discussion (dq1+dq2) Latest 2020 October
ACC502 Accounting Practices
Week 5 Discussion
DQ1 The ability for a company to meet its liability obligations is important when assessing financial stability. Consider what high liability balances might indicate about a company and explain the pros and cons of this type of balance. Provide real-world examples to illustrate your ideas. Participate in follow-up discussion by discussing whether you agree or disagree with the assessment provided and offer additional examples to justify your position.
DQ2 The principles regarding leases were recently updated by FASB, as discussed in the textbook. Explain two main differences between capital and operating leases.
Select a publicly traded company and access its most recent financial statements, form 10-K. Include the name of the company in your subject line, and do not choose a company about which one of your classmates has already posted. Navigate to the notes to the financial statements and locate the company’s note on lease disclosures. Identify the types of leases the company has and explain how you can tell which types of leases are used. Participate in follow-up discussions by comparing the lease reporting of your company to that of a classmate’s company and comment on any similarities or differences between the companies.
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