acc205 ashford university week 3

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Week 3

Discussions
To participate in the following discussions, go to this week’s Discussion link in the left navigation.

  1. LIFO vs. FIFO

    The controller of Sagehen Enterprises believes that the company should
    switch from the LIFO method to the FIFO method. The controller’s
    bonus is based on the next income. It is the controller’s belief
    that the switch in inventory methods would increase the net income of the
    company. What are the differences between the LIFO and FIFO
    methods?

    Guided Response:
    Analyze several of your peers’ posts. Let at least two of your peers
    know if a company is better off it switches from a LIFO method to a FIFO
    method? Explain your reasoning.

  2. Depreciation

    A variety of depreciation methods are used to allocate the cost of an
    asset to all of the accounting periods benefited by the use of the
    asset. Your client has just purchased a piece of equipment for
    $100,000. Explain the concept of depreciation. Which of
    the following depreciation methods would you recommend: straight-line
    depreciation, double declining balance method, or an alternative method?

    Guided Response:
    Let at least two of your peers know if a company would use an accelerated
    depreciation method for their financial statements or their tax
    returns. Why do you believe this would be the case?


Exercise Assignment
To complete the following assignment, go to this week’s Assignment link in the left navigation.

Inventory

Please complete each of the exercises below in a word document. Save the
document, and submit to in week using the Assignment Submission
button.

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