devry acct504 week 5 and 6 discussions

Week 5: Long-Lived Assets and Liabilities, and Time Value of
Money – Discussion

Plant Assets and Intangibles (graded)

Companies have a significant amount of investment in
long-lived assets, which include property, plant and equipment (commonly
referred to as Plant Assets), and intangible assets.

Let’s begin by talking about plant assets. Can you tell us
what kind of plant assets are used in your company or place of business? Do you
have an estimate of the amount invested in those plant assets?

Week 5: Long-Lived Assets and Liabilities, and Time Value of
Money – Discussion

Accounting for Liabilities (graded)

In this area, we will discuss different types of liabilities
and understand how to account for and report those liabilities.

Why are liabilities classified on a balance sheet as current
and non-current? Who wants to know? What is the benefit of knowing this
information?

Week 6: Stockholders’ Equity and Statement of Cash Flows –
Discussion

Accounting for and Reporting Equity (graded)

Stockholders’ Equity is an important heading in a corporate
balance sheet. Let’s begin the discussion of stockholders’ equity by asking:
How is the stockholders’ equity section of a corporate balance sheet different
from that in a single-owner business? Anybody?

Week 6: Stockholders’ Equity and Statement of Cash Flows –
Discussion

Statement of Cash Flows (graded)

The statement of cash flows is an important financial
statement that is required to be released along with the income statement and
balance sheet by every publicly traded company. We did not have this
requirement prior to the year 1988.

Let’s begin our discussion by asking this question: When we
already have the income statement and balance sheet to tell us about the
financial performance and financial health of a company, why was there a need
to require companies to prepare a statement of cash flows? Anybody?