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ACC 561 Week 1 Complete

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ACC 561 Week 1 Complete -

DQ 1.Why are financial statement important to internal users, such as employees, managers, and directors?

DQ 2.Can you think of any reasons why companies may want to maximize  profit on its income statement? What about minimizing profit? What ethical implications may these objectives have?

WileyPLUS Assignment Week 1 Practice Quiz

Resource: WileyPLUS

Complete the Week 1 Practice Quiz in WileyPLUS.

WileyPLUS Assignment Week 1 Assignment

Resource: WileyPLUS

Complete the following Week 1 Assignment in WileyPLUS:

• Brief Exercise: 1-7

• Brief Exercise: 1-8

Individual Assignment Financial Statement Review

Option 1:

1. Select an American corporation.

2. Visit its website and download the Income Statement, Statement of

Stockholders Equity, Balance Sheet, and Statement of Cash Flows.

3. Complete the University of Phoenix Material: Financial Statement Review Worksheet.

4. Submit the completed worksheet, copies of the downloaded financial statements, and a link to the website. Include all your calculations if applicable.

5. Click the Assignment Files tab to submit your assignment.

Option 2:

1. Create a table that lists each type of financial statements – income statement, balance sheet, cash flow statement and statement of equity under Column.

2. Add two columns. Column 2 should be labeled "Purpose" and

Column 3 should be labeled "Users".

3. Complete the table. Under Column 2 explain the purpose and content of each statement. Under Column 3 list the users of each and explain how they would use such statements.

4. Click the Assignment Files tab to submit your assignment.