Acc 422 Week 3 Complete Uop Exam Assignment

ACC 422 Week 3 Complete

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DQ1.What is the purpose of depreciation?

Does the book value of a fixed asset (cost minus accumulated depreciation) communicate to a user what the asset is worth? Explain why or why not.

Should the financial statements reflect the value of fixed assets? Explain why or why not.

DQ2.What are the different methods used to calculate depreciation?

How does a company decide which method it should utilize?

How does its choice affect the financial statements?

Should companies standardize the method of depreciation to enhance comparability? Explain your answer.

DQ3.Why are research and development costs expensed?

Is this consistent with how other similar costs are handled? Explain why or why not.

Should research and development costs be expensed? Explain why or why not.

DQ4.What is an intangible asset?

Should all intangible assets be subject to amortization? Explain why or why not.

Why are some intangible assets not amortized?

What is the implication to the financial statements?

Individual Assignment - WileyPLUS

Week Three Assignment

Resource: WileyPLUS

Complete the following in WileyPLUS:

• Exercise E9-1 (20 Points)

• Exercise E9-12 (20 Points)

• Exercise E10-5 (25 Points)

• Exercise E10-12 (20 Points)

Learning Team Assignment - Textbook Assignments 2

Prepare written responses to the following assignments from Ch. 9 & 10 of Intermediate Accounting:

• Problem P9-9 (35 Points)

• Problem P10-5 (35 Points)

Learning Team Assignment - Weekly Reflection

Discuss the objectives for Week Two and answer the following two questions:

• Why is inventory valuation important to the presentation of the balance sheet and the income statement?

• What do accountants mean by capitalizing fixed assets and how does that affect the balance sheet and the income statement?...