Week 2: Internal Controls – Discussion
Describe what you think is the most important control activity that a company can implement. Why do you think that the one you chose is the most important?
Describe one of the three elements that are present when fraud occurs. Of the three elements, which do you think is present first in an ethical situation?
Horizontal and Vertical Analysis (graded)
Go to Yahoo! Finance at the following URL: http://finance.yahoo.com/. Enter the name of your favorite public company in the box in the upper left-hand corner, and click on Get Quotes. Click on the income statement or balance in the bottom left-hand corner of your favorite company. Perform a horizontal or vertical analysis of one of the line items on its income statement or balance sheet. What does this information tell you?
Go to Yahoo! Finance at the following URL: http://finance.yahoo.com/. Enter the name of your favorite public company in the box in the upper left-hand corner, and click on Get Quotes. Explore the information given for your favorite company by clicking on the links on the left-hand side of the screen. What information do you find interesting?
Managerial Accounting (graded)
This week, we are shifting our focus from financial accounting to managerial accounting. How do the content and verification of the reports differ between managerial and financial accounting?
What is CVP analysis? How is it useful to managers?
Incremental Analysis (graded)
What is incremental analysis? How is it used by management?
Our lecture states that relevant costs can also be viewed as avoidable costs. What does this mean? This is a very difficult concept, so help your classmates understand it!
Why is budgeting important for a company? What are some reasons that a company would not prepare a budget?
Responsibility Accounting (graded)
Describe responsibility accounting and its purpose. What conditions are necessary for responsibility accounting to be used effectively?
Capital Budgeting (graded)
Discuss the capital budgeting process and the inputs that are used in capital budgeting.
Transfer Pricing (graded)
What is the transfer price? Why is determining a fair transfer price important for division managers?
Looking Ahead (not graded)
Class, looking back over the Terminal Course Objectives for this course, what are you looking forward to learning more about throughout your education and career?
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