40 explain the possible restrictions on cash and

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40. Explain the possible restrictions on cash and their implications for classification in the balance sheet. 41. Distinguish between the gross and net methods of accounting for cash discounts. 42. Describe the accounting treatment for merchandise returns. 43. Describe the accounting treatment of anticipated uncollectible accounts receivable. 44. Describe the two approaches to estimating bad debts. 45. Describe the accounting treatment of short-term notes receivable. 46. Explain the difference between a perpetual inventory system and a periodic inventory system. 47. Explain which physical quantities of goods should be included in inventory. 48. Determine the expenditures that should be included in the cost of inventory. 49. Differentiate between the specific identification, FIFO, LIFO, and average cost methods used to determine the cost of ending inventory and cost of goods sold. 50. Discuss the factors affecting a company's choice of inventory method. 51. Identify the various costs included in the initial cost of property, plant, and equipment, natural resources, and intangible assets. 52. Determine the initial cost of individual property, plant, and equipment and intangible assets acquired as a group for a lump-sum purchase price. 53. Determine the initial cost of property, plant, and equipment and intangible assets acquired in exchange for a deferred payment contract. 54. Determine the initial cost of property, plant, and equipment and intangible assets acquired in exchange for equity securities or through donation.
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55. Explain the concept of cost allocation as it pertains to property, plant, and equipment and intangible assets. 56. Calculate the periodic depreciation for plant and equipment. 57. Calculate the periodic depletion of a natural resource. 58. Calculate the periodic amortization of an intangible asset Course Content: Contact Hours/Minutes The Role of Accounting as an Information System Economic Environment and Financial Reporting 1 Development of Financial Accounting and Reporting Standards 1 Ethics in Accounting 2 The Conceptual Framework 2 Basic Model – Accounting Equation and Account Relationships 2 Accounting Processing Cycle 2 Adjusting Entries 2 Preparing the Financial Statements 2 Closing Process 2 Balance Sheet 2 Financial Disclosures 2 Risk Analysis 2 Income Statement and Comprehensive Income 2 Statement of Cash Flows 2 Revenue Recognition 2 Profitability Analysis 2 Time Value of Money 1 Economic Resources Cash and Cash Equivalents 2 Current Receivables 2 Recording and Measuring Inventories 2 Valuation of Property, Plant, and Equipment at Acquisition 2 Disposition and Exchanges of Property, Plant, and Equipment 2 Self Constructed Assets and Research and Development 2 Depreciation, Depletion, and Amortization 2 Total 45 C ommon Professional Components (CPC): Contacts Hours/Minutes Functional Areas: Marketing 0 Business Finance 10 Accounting 30 The Business Environment Legal Environment of Business 3 Economics 3 Business Ethics 3 Global Dimensions of Business 3 Technical Skills
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Information Systems 8 Quantitative Techniques/Statistics 2 Integrative Areas Business Policy 1 Comprehensive Integration 1 Total Contact Hours 64
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