The assignment requires the use of the Library/Internet research to locate and study written articles on any topics on financial accounting that was covered in the class.

The assignment requires the use of the Library/Internet research to locate and study written articles on any topics on financial accounting that was covered in the class. The student is required to critique, analyze, and evaluate the articles as they relate to what was learned in class by writing a four to six-page paper (12 font, double spaced, APA format). The objective of this activity is for you to be aware of what is happening in the real world as it relates to financial accounting issues to make the study of accounting more meaningful, and to bridge the gap between theory and practice.
You will  select any topic related to financial accounting that interests you.  Your textbook is a good place to begin exploring options.  Consider the information in each chapter.  You may also choose a topic you are familiar with professionally or one that is intereresting to you but not directly studied in this course.  Examples include (this is not an exhaustive list):  partnerships vs. corporations, accounting for inventory valuation, types of legal business entities, accounting for accounts receivable and uncollectible accounts, fair value accounting, IFRS, Sarbanes Oxley, ethics in accounting, the history and purpose of the cash flow statement, accounting for long-term liabiliites, comparative evaluation of different depreciation methods, are just a few of the possible choices.  It would be wonderful if you carefully considered the topics and what interests you.  You are invited to think outside the box and suggest any potential topic.
Your paper should be a minimum of 4 typed pages, double spaced, one inch margins, 12 pt Times New Roman font.  You should include a minimum of three quality peer reviewed academic sources.  Your references must be complete an in APA format.
Week 1 Practice Problems
Chapters 1 and 2:
QS 1-7 – Applying the accounting equation
QS 1-12 – Identifying financial statement items
QS 1-13 – Identifying income and equity items
QS 1-14 – Identifying assets, income and equity
QS 2-2 – Principles, assumptions and constraints
QS 2-3 – Reading a chart of accounts
Chapter 2:
QS 2-4 – Identifying normal balances
QS 2-5 – Identifying debits and credits
QS 2-6 – Analyzing and preparing journal entries
QS 2-7 – Analyzing debits and credits
QS 2-10 – Computing T-account balances
Week 2 Practice Problems
Chapter 3
Ex 3-3 – Preparing adjusing entries
Ex 3-6 – Accrued revenue and expenses
Ex 3-7 – Preparing financial statements
Ex 3-8 – Preparing closing entries
Ex 3-9 – Preparing a classified balance sheet
Chapter 12
QS 12-1- Transaction classification by activity
QS 12-7 – Cash flows from investing activities
QS 12-8 – Cash flows from  investing activities
QS 12-9 – Cash flows from financiang activities
QS 12-10 – Cash flows from financing activities
Week 3 Practice Problems
Chapters 4 and 5
Ex 4-3 – Purchases, returns and allowances
Ex 4-4 – Sales, returns and allowances
QS 4-3 – Merchandise accounts
Ex 5-3A – Perpetual inventory
Ex 5-5A – Periodic inventory
Chapters 6 and 7
Ex 6-9 – Bank reconciliation
Ex 6-10 – Adjusting entries
Ex 7-5 – Percent of sales
Ex 7-7 – Aging allowance method
Ex 7-11 – Notes receivable
Week 4 Practice Problems
Chapters 8, 9, and 10
Ex 8-4 – Straight line depreciation
Ex 8-5 – Units of production
Ex 8-6 – Double-declining balance
Ex 9-4 – Interest adjustment
QS 10-13 – Debt to equity ratio
Chapters 11 and 13
Ex 11-3 – Recording stock issuance
Ex 11-11 – Preparing a statement of equity
QS 13-3 – Horizontal analysis
QS 13-5 – Common-size analysis
QS 13-6 – Ratio interpretation

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