Accounting Discussion Questions

Nov 6th, 2014
Business Finance
Price: $10 USD

Question description

Interest Cost during Construction and Various Accounting Topics" Please respond to the following:

  • Discuss the most challenging topics that you encountered within Chapters 8-11, and briefly summarize the manner in which you overcame such challenges. Suggest the primary ways in which the challenges that you identified could impact the financial statements if they are recorded incorrectly. Justify your response.

Chapter 8 Valuation of Inventories: Cost-Basis Approach

Chapter 9 Inventories: Additional Valuation Issues 

Chapter 10 Acquisition and Disposition of Property,Plant, and Equipment

Chapter 11 Depreciation, Impairments, and Depletion

  • You are the construction accountant for an organization, and management is unsure of the manner in which it should record interest cost during the construction of a new building that will take five (5) years to complete. Compare and contrast the three (3) approaches to account for interest cost during the five-year period, and give your opinion of the method that you believe would result in the lowest net income over the first three (3) years. Ascertain the overall impact that interest cost has on the balance sheet.

Tutor Answer

(Top Tutor) Sapthagiri K
School: University of Maryland

Studypool has helped 1,244,100 students

Review from student
" Excellent job "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1828 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors