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ACCT 312 DeVry Week 1 – 4 Discussions

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ACCT 312 DeVry Week 1 – 4 Discussions

ACCT 312 DeVry Week 1 DQ 1

Income Tax Expense and Income Taxes Payable (graded)

What is the difference between a company’s income tax expense as shown on the financial statement and an income tax obligation owed to the federal government? What gives rise to these discrepancies?

ACCT 312 DeVry Week 1 DQ 2

Recognition of Deferred Taxes (graded)

What are temporary differences? What gives rise to temporary differences? Some accountants believe that deferred taxes should be recognized only for some temporary differences. The FASB requirement states that deferred taxes should be recognized for all temporary differences. Who do you agree with, and why?

ACCT 312 DeVry Week 2 DQ 1

Pension Accounting and Politics (graded)

Please select a company that has a pension plan. Describe the reporting requirements of the pension plan of the company you select. What does the pension plan consist of? How are the disclosures made to the plan and the pension costs?

ACCT 312 DeVry Week 2 DQ 2

Retiree Health Benefits (graded)

What are the primary differences in reporting benefits associated with a pension plan and those associated with post-retirement health benefits?

ACCT 312 DeVry Week 3 DQ 1

Stockholders’ Equity Section (graded)

Review Illustration 18-1 in the downloadable or hard copy text (Chapter 18). This is a detailed sample stockholders’ equity section of the balance sheet for Exposition Corporation. As you can see in the shareholders equity section of the balance sheet, shareholders equity is broken down into paid in capital, retained earnings of accumulated other comprehensive income, and treasury stock. Discuss the items and item descriptions that you find in this section. For example, the first item is preferred stock. What is preferred stock? What makes it different from common stock? How is the dollar amount shown for preferred stock determined? What is par value? Why is the preferred par value set at $10?

ACCT 312 DeVry Week 3 DQ 2

Dividend Payments (graded)

Compare the payment of cash dividends, stock dividends, property dividends, and liquidating dividends. What are the similarities and differences with respect to these types of dividends? Which form of dividend would you recommend if you are the chief financial officer of the company, and why? How does the purchase of treasury stock from existing shareholders affect the shareholders equity section of the balance sheet? Why would a company purchase stock back from existing shareholders?

ACCT 312 DeVry Week 4 DQ 1

EPS Financial Statement Disclosures (graded)

What is basic earnings per share? What is diluted earnings per share? What are the differences between the two? How are basic and diluted earnings per share reported on the income statement and footnotes to the financial statements? Please select a company that is of interest to you and navigate to its website and to its annual report. Please examine the corporations financial statement disclosures of earnings per share (income statement and footnotes). What disclosures do you see based on your examination?

ACCT 312 DeVry Week 4 DQ 2

Effects of Dilutive Items on EPS (graded)

Please list and discuss one item that might cause a company’s basic earnings per share to become diluted. Please describe the circumstances under which this item would dilute earnings per share.