ACC 545 Complete Class Assignments Financial Reporting
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ACC 545 Week 1 Individual Assignment CPA Report
As the CPA for a large organization, you were asked by your manager to provide information to outside CPAs who are examining a subsidiary that has been set up as a corporation. As part of their review, the CPAs have asked you to provide them with the following explanations:
The methodology used to determine deferred taxes
The procedures for reporting accounting changes and error corrections
The rationale behind establishing the subsidiary as a corporation
Prepare your response to the three questions. Before submitting your response, your manager would like to know a little bit more about the request. She has asked you to tell her what your professional responsibilities are as a CPA, and the difference between a review and an audit.
You should provide draft responses to the above questions as well as providing your manager with a summary of your responsibilities in one document (no more than 1,050 words).
ACC 545 Week 2 Los Lobos Ledger Preparation
Learning Team Assignment Los Lobos Ledger Preparation
ACC 545 Week 3 Jamona Corporation Data
ACC 545 Week 3 Individual Assignment Jamona Corp. Scenario
Review the following information:
On January 1, 2006, Jamona Corp. purchased 12% bonds, having a maturity value of $300,000, for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2006, and mature January 1, 2011, with interest receivable December 31 of each year. The company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified as available-for-sale. The fair value of the bonds at December 31 of each year is as follows:
2006 – $320,500
2007 – $309,000
2008 – $308,000
2009 – $310,000
2010 – $300,000
The following information is...