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ACC 304 DISCUSSION QUESTIONS WEEK 1-11

ACC 304 DISCUSSION QUESTIONS WEEK 1-11

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ACC 304 DISCUSSION QUESTIONS WEEK 1-11
ACC 304 Week 1-11 Discussion Question Solutions
 
Week 1 DQ 1
“Convergence”
Please respond to the following:
From the e-Activity, provide an analysis of the current status of the convergence of GAAP and IFR.
Based on your analysis, what area do you believe is the most challenging to converge and why?
Please make sure you post an Initial Post and at least one Reply Post in this Thread  All posts should be substantive and add value to the discussion.  Please make sure your posts are grammatically correct and do not have any spelling errors.  Each post should have original content and you must cite any sources that you quote or paraphrase.  For additional guidance, please refer to the Threaded Discussion Announcement posted in the course.
 
 
 
Week 1 DQ 2
“Accountable Events”
Please respond to the following:
The Internal Revenue Code allows some accountable events to be considered differently for income tax reporting purposes and financial accounting purposes, while other accountable events must be reported the same. Identify an event related to inventories that is treated different for income tax purposes and financial accounting purposes.
Discuss why it might be desirable to report this event differently for financial accounting purposes. Do you agree with the difference in treatment? Support your position.
Please make sure you post an Initial Post and at least one Reply Post in this Thread  All posts should be substantive and add value to the discussion.  Please make sure your posts are grammatically correct and do not have any spelling errors.  Each post should have original content and you must cite any sources that you quote or paraphrase.  For additional guidance, please refer to the Threaded Discussion Announcement posted in the course.
 
 
Week 2 DQ 1
“LIFO Accounting”
Please respond to the following:
From the e-Activity, discuss whether or not you agree or disagree with the disallowance of LIFO for valuing inventory.
Determine how the disallowance of LIFO will impact U.S. multinational firms that report under IFRS.
Please make sure you post an Initial Post and at least one Reply Post in this Thread  All posts should be substantive and add value to the discussion.  Please make sure your posts are grammatically correct and do not have any spelling errors.  Each post should have original content and you must cite any sources that you quote or paraphrase.  For additional guidance, please refer to the Threaded Discussion Announcement posted in the course.
 
 
 
Week 2 DQ 2
“Retail Valuation of Inventory”
Please respond to the following:
High-volume retailers generally use the retail method for valuing inventories instead of the various cost methods. Identify and evaluate the conditions that may distort the results under the retail method.
Compare the advantages of using the retail method with those of using the cost methods of inventory pricing.
Please make sure you post an Initial Post and at least one Reply Post in this Thread  All posts should be substantive and add value to the discussion.  Please make sure your posts are grammatically correct and do not have any spelling errors.  Each post should have original content and you must cite any sources that you quote or paraphrase.  For additional guidance, please refer to the Threaded Discussion Announcement posted in the course.
 
 
 
 
Week 3 DQ 1
“Rental Income”
Please respond to the following:
From the video, explain to a client how he / she would determine the rental income need for a desired return on his /her investment.
From the second e-Activity in which you researched furnished rental properties, evaluate how the New York rent scenario presented compares to the average rent-to-value ratio of an average furnished apartment in your area. State your area and cite your source for rent averages in your area.
Please make sure you post an Initial Post and at least one Reply Post in this Thread  All posts should be substantive and add value to the discussion.  Please make sure your posts are grammatically correct and do not have any spelling errors.  Each post should have original content and you must cite any sources that you quote or paraphrase.  For additional guidance, please refer to the Threaded Discussion Announcement posted in the course.
 

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