BUS627Week1DiscussionForum1

BUS 627 Week 1 – Discussion ForumRequired ResourceTextPorter, G., & Norton, C. (2018).Using financial accounting information: The alternative to debits and credits(10th ed.). Retrieved from https://www.cengage.comChapter 1: Accounting as a Form of CommunicationChapter 2: Financial Statements and the Annual ReportRecommended ResourcesBookPiper, M. (2010).Accounting made simple: Accounting explained in 100 pages or less(Links to an external site.). Retrieved from https://www.academia.edu/35733742/Accounting_made_simple_pdfThis book is a quick read and provides a brief simple introduction to the fundamentals of accounting, illustrating how to read the most important financial statements and draw a conclusion about the numbers. The book may be useful to you if you have little to no accounting background and need additional explanations of accounting in a simple manner beyond our required textbook. The book may be helpful in your overall understanding of accounting, which would aid in all the assignments this week.ArticlesDennis , D., & Seery, A. (2016, December).Annual reports: How to tell your story clearly.Accountancy Ireland, 38(6), 40–42. Retrieved from https://www.charteredaccountants.ie/Accountancy-Ireland/HomeThe full-text version of this article is available through the ProQuest database in the Ashford University Library. This article discusses how a company should complete its annual report and gives an interesting perspective from the company’s side. This allows the potential investor to better understand the annual report, the advantages of preferred stock, and why this may make a wise investment choice. This article will expand your knowledge regarding the annual report and may assist you in your Reading and Using the Annual Report Case Study discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.Jules, D., & Erskine, R. (2018, September 12).The international code of ethics for professional accountants: Key areas of focus for SMEs and SMPs(Links to an external site.).International Federation of Accountants.Retrieved from https://www.ifac.org/global-knowledge-gateway/ethics/discussion/international-code-ethics-professional-accountants-keyThis article provides the new ethical codes established for international business. It offers an excellent perspective on the similarities and differences between the US and international ethical standards. This will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.Accessibility Statement does not exist.Privacy Policy(Links to an external site.)Lopez , K. J., & Perry, S. M., Ph.D. (2018).The importance of virtue ethics and the role of salience in the accounting profession.Southern Journal of Business and Ethics, 10, 86–96. Retrieved from https://salsb.wildapricot.org/sjbeThe full-text version of this article is available through the ProQuest database in the Ashford University Library. This article provides a deep look at the importance of ethics in the accounting profession. The article covers why there may be conflict with ethics in the normal course of business for accountants. Additionally, the article concludes the importance of continuing education for certified public accountants (CPAs). The article will give you a deeper knowledge regarding ethics and may assist you with your Post Your Introduction discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.Melé , D., Rosanas, J. M., & Fontrodona, J. (2017).Ethics in finance and accounting: Editorial introduction.Journal of Business Ethics, 140(4), 609–613. https://doi.org/10.1007/s10551-016-3328-yThe full-text version of this article is available through the ProQuest database in the Ashford University Library. This article looks at efficiency versus ethics in both accounting and finance. The article discusses how to motivate employees to be more ethical, and draws conclusions between ethical rules and personal values, as well. This article will give you a deeper knowledge regarding ethics and may assist you with your Post Your Introduction discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.Mintz , S. (2018).Accounting in the public interest: An historical perspective on professional ethics.CPA Journal, 88(3), 22. Retrieved from https://www.cpajournal.com/The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This is a very interesting article explaining the history of ethics in accounting and all the changes that have taken place. The article also provides a great overview and rationale of the Sarbanes-Oxley Act (SOX), and points out the inherent ethical issues embedded within an accountant’s role in business, and the obligation to follow the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct. The article will give you a deeper knowledge regarding ethics and may assist you with your Post Your Introduction discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week.Nathan, N. (2017, June).Annual report can reveal the secrets a company wants to hide: Here’s how to uncover.The Economic Times. Retrieved from https://economictimes.indiatimes.com/The full-text version of this article is available through the Business Insights: Global database in the Ashford University Library. This article provides additional insight, beyond your textbook, in reading and understanding a company’s annual report. The article gives tips on how to compare certain numbers to gain a better perspective and may assist you with your Reading and Using the Annual Report Case Study discussion forum this week.MultimediaKloza, B. (Executive Producer), & Granberry, R. (Producer). (2014).Accounting fundamentals[Streaming video]. Retrieved from the Films On Demand database.The full version of this video is available through the Films On Demand database in the Ashford University Library. This is a four-part series on accounting fundamentals, which includes videos on the purpose of accounting, financial reporting, income statements, and balance sheets. These videos will aid the visual learner and reinforce concepts presented in your textbook, and they may assist you in your Week 1 Quiz and Week 1 CNow Homework Problems assignment this week. These videos have closed captioning and transcript.Link Media. (2015, June 9).How to read annual report(Links to an external site.)[Video file]. Retrieved from https://youtu.be/0GTJ-NeFI3QThis video provides a basic yet comprehensive overview of financial statements and how to read them. This video will assist more visual learners and help reinforce the concepts in your textbook, and may assist you in your Reading and Using the Annual Report Case Study discussion forum, Week 1 Quiz, and Week 1 CNow Homework Problems assignment this week. This video has closed captioning and a transcript.Accessibility Statement(Links to an external site.)Privacy Policy(Links to an external site.)Web PageU.S. Securities and Exchange Commission. (2007, February 5).Beginners’ guide to financial statement. Retrieved from https://www.sec.gov/reportspubs/investor-publications/investorpubsbegfinstmtguidehtm.htmlThis web page goes deeper in the U.S. Securities and Exchange Commission website and provides a review on how to read an annual report, including financial statements, footnotes, and other parts. This is an excellent resource, which may assist you with your Reading and Understanding the Annual Report Case Study discussion this week.Accessibility Statement(Links to an external site.)Privacy Policy(Links to an external site.)WebsitesAmerican Institute of Certified Public Accountants(Links to an external site.). (https://www.aicpa.org/)This website provides detailed information about the American Institute of Certified Public Accountants (AICPA). The AICPA is the professional organization of certified public accountants, overseeing the profession, setting ethical standards, and auditing standards for U.S. companies. This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.Financial Accounting Standards Board(Links to an external site.). (https://www.fasb.org/home)This website provides detailed information about the Financial Accounting Standards Board (FASB). FASB is an independent nonprofit organization that has the authority to set and interpret Generally Accepted Accounting Principles (GAAP). This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.International Accounting Standards Board(Links to an external site.). (https://www.iasplus.com/)This website provides detailed information about the International Accounting Standards Board (IASB). IASB has the authority to set and interpret International Financial Reporting Standards (IFRS). This website provides foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.Sarbanes-Oxley Act 2002(Links to an external site.). (http://www.soxlaw.com/)This website provides detailed information about the Sarbanes-Oxley Act (SOX). SOX is the most important current piece of legislation to impact the accounting field. Congress passed the act in 2002 to bring reform and accountability to financial statement reporting. Enron and WorldCom, among other corporations, had huge accounting irregularities and fraud that brought about the need for this act. This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.U.S Securities and Exchange Commission(Links to an external site.). (https://www.sec.gov/)This website provides detailed information about the Securities and Exchange Commission (SEC). The SEC is a federal agency that enforces securities laws, and has the ultimate authority to determine the rules for preparing statements for companies whose stock is sold to the public. This website will give you foundational accounting information and may assist you in your Accountant’s Lingo Interactive learning activity this week.InstructionPrior to beginning work on this discussion forum, read Chapters 1 and 2 in your course textbook,Using Financial Accounting Information:The Alternative to Debits and Credits.Select a company of interest that trades on the New York Stock Exchange (NYSE). The annual report can be found on your selected company’s website, usually under the heading “Investor Relations.” Select a company that a fellow student has not already posted.Retrieve the latest two annual reports, then complete the following:Calculate the current ratio and profit margin ratio for the latest two years, and interpret the results. Then, explain what the ratios over the 2 years tell you.Locate the Management Discussion and Analysis comments in the latest annual report, and discuss the main points in your own words.Locate the Auditor’s Report in the latest annual report, and discuss the opinion given and who conducted the audit.Based on this initial quick review, provide your assessment of your chosen company.Your initial response should be a minimum of 200 words. Graduate school students learn to assess the perspectives of several scholars. Support your response with at least one scholarly and/or credible resource, in addition to the text.