Identify the purposes of the statement of cash flows and distinguish among operating, investing, and financing cash flows

Identify the purposes of the statement of cash flows and distinguish among operating, investing, and financing cash flows

Show the format of an indirect statement of cash flows.
Show the format of a direct statement of cash flows.
Give an example and Use free cash flow calculation.
Distinguish among operating, investing, and financing cash flows

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Module 4 Discussion

Answer the question on international accounting and pick one topic from the other 3 choices:

Review the section on international accounting in each of Chapters 13, 14, and 16. Discuss the major similarities and differences between U.S. GAAP and IFRS. Which of the differences do you find most interesting? If there is a convergence between U.S. GAAP and IFRS, would you choose the U.S. GAAP or IFRS method? Why?

1.Define managerial accounting and understand how it is used

2.Describe the differences between service, merchandising, and manufacturing companies

3.Classify costs for service, merchandising, and manufacturing companies

Module 6 Discussion

Answer the core value questions and then pick one topic from each chapter to discussion following discussion guidelines:

With the core values of responsible stewardship and integrity in mind, discuss management’s responsibility for creating the master budget. Additionally, discuss management’s incentives for understating revenues and overstating expenses when creating budgets.

Chapter 22 –

1.Describe budgeting objectives, benefits, and procedures and how human behavior influences budgeting

2.Define budget types and the components of the master budget

Chapter 23 –

1.Prepare flexible budgets and performance reports using static and flexible budgets with an example

2.Identify the benefits of a standard cost system and understand how standards are set with an example

3.Compute the standard cost variances for direct materials and direct labor using an example

4.Compute the standard cost variances for manufacturing overhead using an example

Module 8 Discussion

Answer the GAAP and IFRS Questions and pick a topic from Chapter 15 below to discuss following discussion guidelines:

Review the section discussing international accounting in Chapters 15, 20, 22, 23, and 26. Are there major similarities and differences between U.S. GAAP and IFRS? Which of the differences do you find most interesting? If there is a convergence between U.S. GAAP and IFRS, would you choose the U.S. GAAP or IFRS method? Why? Also, discuss if you had any change of opinion since the discussion in Module 4.

Chapter 15 –

1.Explain how financial statements are used to analyze a business

2.Perform a horizontal analysis of financial statements with an example

3.Perform a vertical analysis of financial statements with an example

4.Compute and evaluate the standard financial ratios