Review the Weekly Activities for Week 4. Write a brief

 

  1. Review the Weekly Activities for Week 4.
  2. Write a brief report with at least two paragraphs.
  3. Submit this as a Word document.

The report should address:

  • What areas did I have difficulty with and what areas did I find easy to understand?
  • Was I successful in my time management or did I run out of time to complete my work to a high-quality level?
  • Are there any changes I should make in my approach to the class for future weeks?
  • Questions remaining after reading discussions related to weekly learning activities.

THE ACTIVITY

 

This week we will continue our exploration of current assets with a focus on cash, accounts receivable, and current liabilities such as accounts payable and payroll liabilities. Protection of assets by use of internal control processes will also be reviewed.

Week 4 Outcomes

After completing this week, you should be able to

  • Analyze Fraud in the Accounting Workplace
  • Define and Explain Internal Controls and Their Purpose within an Organization
  • Describe Internal Controls within an Organization
  • Define the Purpose and Use of a Petty Cash Fund, and Prepare Petty Cash Journal Entries
  • Discuss Management Responsibilities for Maintaining Internal Controls within an Organization
  • Define the Purpose of a Bank Reconciliation, and Prepare a Bank Reconciliation and Its Associated Journal Entries
  • Describe Fraud in Financial Statements and Sarbanes-Oxley Act Requirements
  • Explain the Revenue Recognition Principle and How It Relates to Current and Future Sales and Purchase Transactions
  • Account for Uncollectible Accounts Using the Balance Sheet and Income Statement Approaches
  • Determine the Efficiency of Receivables Management Using Financial Ratios
  • Discuss the Role of Accounting for Receivables in Earnings Management
  • Apply Revenue Recognition Principles to Long-Term Projects
  • Explain How Notes Receivable and Accounts Receivable Differ

The primary source for course reading material each week is Principles of Accounting and located at https://www.principlesofaccounting.com/. This source is in webpage format and includes videos. The Open Stax text is supplemental reference material. Additional reference materials are also provided in the learning resources.

 

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"