acc205 ashford university week 4

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Description

Ashford 5: – Week 4

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

  1. Current Liability

    What is a current liability? From the perspective of a user of
    financial statements, why do you believe current liabilities are separated
    from long-term liabilities? Based on your current experience as well
    as and any additional research you may have done provide two examples of
    situations where businesses collect monies from customers and employees
    and report these amounts as a current liability.

    Guided Response:
    Review several of your peers’ posts and identify the core components of a
    current liability. Respond to at least two of your peers and provide
    recommendations to extend their thinking. Challenge your peers by
    asking a question that may cause them to reevaluate if their example is a
    current liability.

  2. Client Recommendations

    A client comes to you thinking about starting a consulting business.
    Your client is specifically interested in what type of entity should
    be created for this new business. Based on your readings or any
    additional research you may have done, discuss the advantages and
    disadvantages of the following: sole proprietorship, partnership, and
    corporation. Based on these advantages and disadvantages provide a
    clear recommendation to your client.

    Let at least two of your peers posts know if an alternative choice of
    entity would be possible. What would be the benefits of this new
    entity choice? Would there be any disadvantages associated with this
    new entity selection.

    Guided Response:
    Let at least two of your peers know if an alternative choice of entity
    would be possible? What would be the benefits of this new entity
    choice? Would there be any disadvantages associated with this new
    entity selection?


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

Liability

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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