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ACC 541 Week 2 Learning Team Assignment 

Charter

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ACC 541 Week 2 Learning Team Assignment 

Charter.

Team Ground Rules and Guidelines

What are the general expectations for all 

members of the team?

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ACC 541 Week 6 Summary

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ACC 541 Week 6 Learning Team Assignment 

Auditing a Publicly Traded Company

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Write a 700- to 1,050-word executive memo as a 

team that includes a description of what you will 

look for to see if the client is consistent with the 

generally accepted accounting principles (GAAP). 

Pay particular attention to accounting treatment of 

share-based payment and accounting consolidation 

theory as it relates to special purpose entities. 

Keep the memo as brief as possible while fully 

exploring the issues.

Format your paper consistent with APA guidelines

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ACC 541 Week 6 DQ 2

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What type of accounting or which area of 

accounting are you planning to enter as your 

profession? Why?

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ACC 541 Week 6 DQ 1

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A corporation may use stock splits and stock 

dividends to change the number of shares of its 

stock outstanding.

From an accounting viewpoint, explain how the 

stock split effected in the form of a dividend differs 

from an ordinary stock dividend.

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ACC 541 Week 5 Summary

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ACC 541 Week 5 Individual Assignment Reporting 

Paper

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You are a controller in a midsized manufacturing 

company that has acquired 100% of another 

company. The acquired company includes two 

segments and two different pension plans. Both of 

these reporting issues are new to your CEO, and 

your CEO wants to eliminate the segments.

ACC 541 Week 5 DQ 2

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The concept of adequate disclosure continues to be 

one of the most important issues facing 

accountants, and disclosure may take various 

forms.

Discuss the various forms of disclosure available in 

published financial statements.

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ACC 541 Week 5 DQ 1

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Explain operating segments of an enterprise.

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ACC 541 Week 4 Summary

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ACC 541 Week 4 Learning Team Assignment 

Response to Client Request II

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Your client is being sued. You have asked the 

client’s lawyer about the possibility of losing the 

lawsuit. The client, meanwhile, has asked you to 

describe what would happen to his or her financial 

statements. The client has also informed you that 

by losing the lawsuit, he or she anticipates losing 

the mortgage and has started talking to a 

mortgage lender. The client wants to know if part 

of the debt is forgiven, or if the mortgage is 

rewritten, or if the mortgage will be rewritten if he 

or she files Chapter 11.

ACC 541 Week 4 DQ 2

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The two basic requirements for the accrual of a loss 

contingency are supported by several basic 

concepts of accounting. Four of these concepts are 

periodicity (time periods), measurement, 

objectivity, and relevance.

Discuss how the two basic requirements for accrual 

of a loss contingency relate to the four concepts 

listed above.

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ACC 541 Week 4 DQ 1

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Discuss contingencies and how they are reported 

on financial statements. What conditions must be 

met before a contingency can be charged against 

income?

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ACC 541 Week 3 Summary

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ACC 541 Week 3 Individual Assignment Response 

to Client Request I

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While working on a consulting engagement, a 

supervisor in your team has given you an 

assignment. The client is a regional trucking 

company. A new customer has approached the 

client with an opportunity that would require 120 

trailers—20 more than the trucking company 

currently owns. The client is uncertain how long the 

relationship with the customer may last, but the 

deal has the potential for significant growth.

Your supervisor has asked you to research leases 

and lease structure issues on the Financial 

Accounting Standards Board (FASB) website, in 

particular the current practice and thought related 

to direct financing, sales type, and operating 

leases.

ACC 541 Week 3 DQ 2

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On January 1, 2006, Von Company entered into 

two noncancelable leases for new machines to be 

used in its manufacturing operations. The first 

lease does not contain a bargain purchase option; 

the lease term is equal to 80 percent of the 

estimated economic life of the machine. The second 

lease contains a bargain purchase option; the lease 

term is equal to 50 percent of the estimated 

economic life of the machine.

How should Von classify each of the two leases? 

Why?

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ACC 541 Week 3 DQ 1

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Capital leases and operating leases are the two 

classifications of leases described in FASB 

pronouncements from the standpoint of the lessee.

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