Accounting
Project description
This is an accounting class assignment there are a set of questions that should be answered at the end of each chapter. In total there are four chapters that you would
have to read you don’t have to (memorize anything) ( but your source can only be the book nothing else)
Chapter 1 Readings:
Pages 5-7
Starting with item #1 at the top of page 5 (1. Financial reporting is intended to) through to page 7 (not including the Additional Input AICPA).
Pages 10-22
Starting with Traditional Assumptions of the Accounting Model on page 10 through to page 22 (all of page 22).
Questions (located at the end of Chapter): Q1-2; Q1-3; Q1-7; Q1-8; Q1-15; Q1-16; Q1-17; Q1-32; Q1-42; Q1-43; Q1-44
Problems (located at the end of Chapter): P1-2; P1-4 (only do parts a, b, c, e); P1-5; P1-6
To the Net Case (page 51): only do item 3. Go to the IASB site (www.ifrs.org).
Chapter 2 Readings:
Pages 54-65
Starting on page 54 through to page 65 (all of page 65).
Page 72
Consolidated Statements on page 72.
Questions: Q2-2; Q2-9; Q2-17; Q2-18; Q2-19; Q2-20; Q2-25; Q2-26; Q2-27
Problems: P2-2; P2-3; P2-4; P2-5; P2-6; P2-7; P2-9; P2-11
Chapter 3 Readings:
Pages 95-124
Starting on page 95 through to, and including, Treasury Stock on page 124.
Note: you may wish to read, but you do not have to memorize anything (i.e., you do not have to worry about for assessment purposes) about the Declining-Balance Method,
the Sum-of-the-Years-Digits Method, and the Unit-of-Production Method discussed on pages 103-104. You also do not have to memorize anything about Deferred Taxes
discussed on page 114.
You do not have to read (obviously, you may if you wish) the following: Accumulation of Dividends discussed on the bottom of page 120 through to, and including Donated
Capital discussed on pages 121-122 (Note: you should read Retained Earnings on page 122). You also do not have to read: Quasi-Reorganization, Accumulated Other
Comprehensive Income, and Employee Stock Ownership Plans (ESOPs) discussed on pages 122-124 (Note: you should read Treasury Stock on page 124); and you do not have to
read page 124 starting with Stockholders Equity in Unincorporated Firms through to page 130.
Note: Pages 126-130 provide a brief discussion of differences between GAAP and IFRS Balance Sheet reporting. You may read this if you wish but it is not necessary to
understand all the differences between the two major financial reporting standards. The purpose of your reading of Chapter 3 for this class is to simply get familiar
with Balance Sheet concepts, what is typically expected to be presented, the organization, layout and structure (i.e., where you would expect to find certain items,
how they are classified).
Questions: Q3-2; Q3-3; Q3-4; Q3-5; Q3-6; Q3-7; Q3-8; Q3-10; Q3-13; Q3-15; Q3-18
Problems: P3-4; P3-6; P3-8; P3-10; P3-12; P3-13 (do all parts except n and o)
Chapter 4 Readings:
Pages 157-172
Starting on page 157 through to, and including, page 172.
Note: you may wish to read, but you do not have to memorize anything (i.e., you do not have to worry about for assessment purposes) about the (C) Discontinued
Operations, (D) Extraordinary Items, and (E) Change in Accounting Principle discussed on pages 163-166.
Note: Pages 173-178 provide a brief discussion of differences between GAAP and IFRS Income Statement reporting. You may read this if you wish but it is not necessary
to understand all the differences between the two major financial reporting standards. The purpose of your reading of Chapter 4 for this class is to simply get
familiar with Income Statement concepts, what is typically expected to be presented, the organization, layout and structure (i.e., where you would expect to find
certain items, how they are classified).
Questions: Q4-8; Q4-10; Q4-11; Q4-13; Q4-14; Q4-15
Problems: P4-1 (do parts b, d, and e); P4-3 (do all parts except c, f and h); P4-7; P4-8; P4-14; P4-15 (do all parts except g, j, k, n and o); P4-17
Chapter 1 Readings:
Pages 5-7
Starting with item #1 at the top of page 5 (1. Financial reporting is intended to…) through to page 7 (not including the “Additional Input – AICPA”).
Pages 10-22
Starting with “Traditional Assumptions of the Accounting Model” on page 10 through to page 22 (all of page 22).
Questions (located at the end of Chapter): Q1-2; Q1-3; Q1-7; Q1-8; Q1-15; Q1-16; Q1-17; Q1-32; Q1-42; Q1-43; Q1-44
Problems (located at the end of Chapter): P1-2; P1-4 (only do parts a, b, c, e); P1-5; P1-6
To the Net Case (page 51): only do item 3. Go to the IASB site (www.ifrs.org).
Chapter 2 Readings:
Pages 54-65
Starting on page 54 through to page 65 (all of page 65).
Page 72
“Consolidated Statements” on page 72.
Questions: Q2-2; Q2-9; Q2-17; Q2-18; Q2-19; Q2-20; Q2-25; Q2-26; Q2-27
Problems: P2-2; P2-3; P2-4; P2-5; P2-6; P2-7; P2-9; P2-11
Chapter 3 Readings:
Pages 95-124
Starting on page 95 through to, and including, “Treasury Stock” on page 124.
Note: you may wish to read, but you do not have to memorize anything (i.e., you do not have to worry about for assessment purposes) about the “Declining-Balance
Method”, the “Sum-of-the-Years’-Digits Method”, and the “Unit-of-Production Method” discussed on pages 103-104. You also do not have to memorize anything about
“Deferred Taxes” discussed on page 114.
You do not have to read (obviously, you may if you wish) the following: “Accumulation of Dividends” discussed on the bottom of page 120 through to, and including
“Donated Capital” discussed on pages 121-122 (Note: you should read “Retained Earnings” on page 122). You also do not have to read: “Quasi-Reorganization”,
“Accumulated Other Comprehensive Income”, and “Employee Stock Ownership Plans (ESOPs)” discussed on pages 122-124 (Note: you should read “Treasury Stock” on page 124);
and you do not have to read page 124 starting with “Stockholders’ Equity in Unincorporated Firms” through to page 130.
Note: Pages 126-130 provide a brief discussion of differences between GAAP and IFRS Balance Sheet reporting. You may read this if you wish but it is not necessary to
understand all the differences between the two major financial reporting standards. The purpose of your reading of Chapter 3 for this class is to simply get familiar
with Balance Sheet concepts, what is typically expected to be presented, the organization, layout and structure (i.e., where you would expect to find certain items,
how they are classified).
Questions: Q3-2; Q3-3; Q3-4; Q3-5; Q3-6; Q3-7; Q3-8; Q3-10; Q3-13; Q3-15; Q3-18
Problems: P3-4; P3-6; P3-8; P3-10; P3-12; P3-13 (do all parts except n and o)
Chapter 4 Readings:
Pages 157-172
Starting on page 157 through to, and including, page 172.
Note: you may wish to read, but you do not have to memorize anything (i.e., you do not have to worry about for assessment purposes) about the “(C) Discontinued
Operations”, “(D) Extraordinary Items”, and “(E) Change in Accounting Principle” discussed on pages 163-166.
Note: Pages 173-178 provide a brief discussion of differences between GAAP and IFRS Income Statement reporting. You may read this if you wish but it is not necessary
to understand all the differences between the two major financial reporting standards. The purpose of your reading of Chapter 4 for this class is to simply get
familiar with Income Statement concepts, what is typically expected to be presented, the organization, layout and structure (i.e., where you would expect to find
certain items, how they are classified).
Questions: Q4-8; Q4-10; Q4-11; Q4-13; Q4-14; Q4-15
Problems: P4-1 (do parts b, d, and e); P4-3 (do all parts except c, f and h); P4-7; P4-8; P4-14; P4-15 (do all parts except g, j, k, n and o); P4-17
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