Theory

ch2

1. Discuss the contribution DR Scott to the development of accounting theory.

2. Discuss DR Scott’s hierarchy of postulates and principles.

ch5

1. Discuss the differences between the economic and accounting concepts of income.

2. Discuss the difference between financial capital maintenance and physical capital maintenance.

3. Discuss how revenue might be recognized at various points in a company’s production - sale cycle.

ch7

1. Discuss the following balance sheet elements as defined by SFAC No. 2:

a. Assets

b. Liabilities

c. Equity

1. List three valuation techniques currently used on the balance sheet and discuss how each are used (What accounts?).

3. Discuss the direct vs. indirect methods of preparing the statement of cash flows.

ch9

1. List the objectives of accounting for property, plant and equipment.

2. Discuss the three approaches to allocating fixed overhead to a self-construction project.

3. Discuss the issue of allocating interest to self construction projects. That is, when should interest be allocated and how much interest should be allocated?

4. Discuss accounting for asset impairments originally outlined in SFAS No’s 121 and 144.

ch11

1. List and discuss five factors that may be employed to determine if a particular financial instrument is a debt or equity security.

(There are 13 possible factors the students might select.)

2. Discuss the four basic reasons why a corporation may wish to issue debt rather than equity securities

3. Discuss the factors that might motivate corporate management to decide to issue convertible debt.

4. Discuss accounting for contingencies

ch15

1. Discuss the following theories of equity:

a. Proprietary

b. Entity

c. Fund

d. Commander

e. Enterprise

2. List and discuss...