UOP ACC 300 Entire class

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What are the financial statements? What information does each one offer? How are these used to communicate financial health? Which financial statement is most important? Why?

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Share an example of an external user of financial statements and describe how financial statements are important to this user

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Explain the effect of debits and credits to financial statements. Provide examples to illustrate your points.

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What are debits and credits? How do these affect the accounting equation? Are debits always increases? Are credits always decreases? Explain your answers

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Describe what is meant by a cash dividend. Why would an organization issue dividends? When might it decide not to do so?

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What is meant by consolidated financial statements? When and why are consolidated financial statements necessary?

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What must financial managers consider when operating in the global environment? What types of regulatory compliance might they face? What might they do to mitigate financial risk? Should there be global accounting standards? Why or why not?

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Discuss this week’s objectives with your team. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field.

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Complete the following problem sets in Ch. 2 & 13 of Financial Accounting:  P2-6A  P13-2A

ACC 561 Week 3 Learning Team Assignment Access activity on Ideal Manufacturing (Page 935 of Chapter Complete the attached Excel spreadsheet. Submit your completed excel spreadsheet using the Assignments Tab.

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