Week 1 DQ 1
Let’s begin by defining operational assets and identifying what they are used for in a business. Also, how do operational assets differ from other types of assets? It can be helpful to think of an operational asset that you might have seen in one of your jobs.
Week 1 DQ 2
Please begin by defining dispositions and exchanges and providing a detailed example of each. Also, what is commercial substance and how does it impact non-monetary exchanges?
Week 2 DQ 1
We introduced intangible assets last week, and this week we will study them in more detail. Please define and describe in details the term intangible asset. What major characteristics differentiate intangible assets from other assets? How is the useful life determined for intangibles?
Week 2 DQ 2
This topic will cover Research & Development (R&D) costs and how they are accounted for according to GAAP. Please define R&D costs and explain how these are presented in the financial statements of a company.
Week 3 DQ 1
Please define cost allocation for operational assets. What are the various time-based and activity-based methods used to allocate these costs? How does cost allocation differ for fixed assets, intangible assets, and natural resources? This discussion will be key to your learning for this week.
Week 3 DQ 2
What is impairment of operational assets? How do we determine if an impairment exists? How do we calculate the impairment loss? Goodwill impairment has special accounting rules. Please analyze SFAS No. 142 and its provisions relative to goodwill.
Week 4 DQ 1
Identify the categories of debt and equity securities, and describe the accounting and reporting treatment for each category. Describe how the various levels of ownership impact how companies account for investments.
Week 4 DQ 2
What are the three categories of SFAS 115? How do we treat unrealized gains and losses under each method? After that, let’s research SFAS 135.
Week 5 DQ 1
Please read Judgment Case 13-9 in your book. Then share your thoughts on how the situation would be reported in the annual reports (footnote disclosure and/or journal entry), and explain your answer. If footnote disclosure is required, please post the footnote. Is the footnote in the text adequate? If a journal entry is required, please post the entry. Also explain why.
Week 5 DQ 2
What are current liabilities? What are some examples of current liabilities? When does a company need to record a payroll and vacation liability? How are they reported in the financial statements? What is a warranty reserve and how it is calculated?
Week 6 DQ 1
Let’s discuss the differences between bonds and notes payable. How do we account for bonds when they are issued a par, at a premium, and at a discount? What are the required disclosures for notes and bonds payable?
Week 6 DQ 2
What are the key features of bonds? Let’s also discuss some of the different types of bonds, including the following:
1) Debenture bonds or collateralized bonds
2) Callable bonds
3) Convertible bonds
Week 7 DQ 1
What are the four criteria for a lease to be considered a capital lease? What are the two additional criteria for the lessor? Explain Capital Leases from the lessee’s and the lessor’s perspective. How are capital leases recorded initially? How do we record the lease payments?
Week 7 DQ 2
How do operating leases differ from capital leases? How do we account for them from both the lessor’s and lessee’s perspective? Why have operating leases rather than capital leases? We will also discuss sales-type and direct financing capital leases.