This document outlines the course materials and assignments for ACC 305 Week 4. It includes required readings from chapters 8 and 9 on inventories measurement and issues. Discussions focus on LIFO vs FIFO and overstating ending inventory. Assignments include exercises and problems related to inventories. The document also provides information on the final paper assignment, which asks students to write a 7-10 page paper on topics related to FASB, use of financial statements, or depreciation methods. It ends by providing a link to online study aids that can be used to create flashcards.

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This work includes ACC 305 Week 4 Ethics Case 9-11 on page
497
Business - General Business
ASHFORD ACC 305 ENTIRE COURSE Intermediate Accounting I
Required Readings
a. Chapter 1: Environment and Theoretical Structure of
Financial Accounting
b. Chapter 2: Review of the Accounting Process
c. Chapter 3: The Balance Sheet and Financial Disclosures
Discussions
FASB and Ethics. From Chapter 1 complete Research Case 1-3
(page 45) and Ethics Case 1-8 (page 46).
Cash versus Accrual Financial Disclosures. From Chapter 2
answer Judgment Case 2-1 (page 109) and Judgment Case 3-6
(page 162).
Quiz
1. Due Day 6. Week One Quiz. Complete the quiz on the
assigned readings for the week.
Assignments
Week One Exercises.Complete these problems: E3-18 (Page
152), E3-20 (Page 152), and Judgment Case 3-5(Page 161).
Week 2
Required Readings
a. Chapter 4: The Income Statement and Statement of Cash
Flows

2. b. Chapter 5: Income Measurement and Profitability Analysis
Discussions
Earnings Management. Complete Judgment Case 4-3 (page
225).
Revenue Recognition. Complete Judgment Case 5-2 (page
291).
Assignments
Integrating Case. From Chapter 5 complete Integrating Case
5-23 on page 296
E4-16, E4-19, E4-22 Judgment Case 4-9 on page 227, E5-3 on
page 275, and E5-10.
Week 3
Required Readings
a. Chapter 6: Time Value of Money Concepts
b. Chapter 7: Cash and Receivables
Discussions
Present Value of Annuities. Complete Communication Case 6-
3 on page 334.
Internal Control. Complete Judgment Case 7-5 on page 391.
Quiz
Assignments
Receivables Bank Reconciliation. Complete P7-10 (Page 388)
P7-14 (Page 389)
Week 4
Required Readings
a. Chapter 8: Inventories: Measurement
b. Chapter 9: Inventories: Additional Issues
Discussions
LIFO vs. FIFO. Complete Communication Case 8-4 on page
442.
Overstatement of Ending Inventory. Complete Ethics Case 9-

3. 11 on page 497.
Quiz
Assignments
Week Four Exercises. E8-13, E8-14, E8-18, P8-5, E9-19, E9-21,
and P9-1.
Week 5
Required Readings
a. Chapter 10: Property, Plant, and Equipment and Intangible
Assets: Acquisition and Disposition
b. Chapter 11: Property, Plant, and Equipment and Intangible
Assets: Utilization and Impairment
Discussions
Research and Development. Complete Ethics Case 10-12 on
page 553.
Depreciation Methods. From Chapter 11 complete E11-5
(page 599) and E11-10 (page 600)
Assignments
Operational Assets Depletion. Complete P11-5 on page 608
P11-7 on page 610
Final Paper
Focus of the Final Paper
Submit a seven to ten page paper on one of the major topics
listed below. The paper should incorporate at least three
other appropriately documented and related articles drawn
from the University’s Library. (Note: you may advance your
own topic, but it must be approved by your instructor.)
Explain the role of the FASB in monitoring and controlling
business reporting and accounting practices in the modern
organization. In what ways do FASB rules limit business
practices and reporting financial information? How do such
rules and regulations protect the business and public

4. stakeholder communities? To whom is the FASB accountable
and who appoints members to FASB?
Explain how external stakeholders use financial information
such as company income statements and balance sheets to
make decisions about the company in such cases as
advancing credit or offering leasing vehicles. Discuss how
common financial ratios and investment analysis is used to
conduct due diligence by external parties and how factors
such as accounts receivables, accounts payables, earnings
returns, returns on inventory, etc. are applied to evaluate a
firm’s financial and business health.
Discuss depreciation as a tool for managing and evaluating
the life and utility of assets of the firm. What are the
methods and under what conditions would each method be
used and applied? Does a firm’s tax planning influence the
decision? How do external stakeholders assess the validity of
depreciation schemes?
Use online resources to study at home. Popular study aids
include Quizlet and Memrise. You can use these websites to
create flashcards for your class. Often, someone else has
already made flashcards for your class or subject of study. In
this case, you can use what is already available to study....
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