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WK2+TeamB+Objectives+Paper (2)

WK2+TeamB+Objectives+Paper (2) - Running Header OBJECTIVES...

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Running Header: OBJECTIVES OF WEEK ONE – TEAM B 1 Objectives of Week One – Team B In week one, the objectives were to identify the components of cash and cash equivalents, to be able to calculate the value of net realizable receivables, to identify the different inventory cost flow assumptions, and to be able to calculate the value of inventories by using the different
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OBJECTIVES OF WEEK ONE –TEAM B 2 cost flow assumptions. Team B has analyzed these objectives for week one and summarized its findings as follows: Cash and Cash Equivalents Cash and cash equivalents as we learned during week one are extremely negotiable instruments in businesses and can be found as the first items listed on the balance sheet under assets. “Cash consist of coin, currency, cashier’s checks, certified checks, money orders, personal checks, and bank drafts” (Kieso, Weygandt, & Warfield, 2010, p. 7-6). A cash equivalent is a short-term highly liquid investment. Some examples of cash equivalents are treasury bills, commercial paper, and money market funds. Additionally these items are readily convertible to cash and are three months or less to maturity (Kieso, Weygandt, & Warfield, 2010, p. 317). However, restricted cash is not part of the cash equivalents because it is set aside for a particular purpose and this item can be found under current or long-term assets section of
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