Additionally, provide a summary of the accounting concepts learned through the readings and practice quizzes for this week. Demonstrate your understanding of the week’s concepts. If you need ideas regarding topics to discuss, see ideas below. The more detailed your write-up documenting your understanding the higher it will be graded. (See Rubric for details.)
Complete the report below as a Word document and submit in the Assignment Folder for week 1 Homework.
Additionally, here are some topics to consider:
How does the intent of management (as to length of time) impact how investments are reported?
What are bonds, and how does issuing bonds above or below their par value affect the amount of interest expense recorded each accounting period?
What are the key assumptions upon which accounting depends?
What topic(s) gave you trouble this week (if any)?/What topic(s) do you feel you were able to grasp? Post questions in the homework discussion thread!
