Reference no: EM131746918

The final project for this course is the creation of an accounting portfolio. The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Three, Five, and Seven. The final product will be submitted in Module Nine.

According to the AICPA (American Institute of Certified Public Accountants), a CPA in today's environment must not only have a high level of technical competence and a sense of commitment to service, but must also have good communications and analytical skills and the ability to work well with people.

Employers are looking for individuals who have the ability to analyze and evaluate complex business problems combined with the interpersonal skills and maturity to make decisions in a client and customer service environment.

By adopting a real-life company in this course, you will apply the technical competence and other skills required by today's CPA. Through case study analysis, you will develop skills such as communication, presentation, and interpersonal relations, in conjunction with technical accounting knowledge.

In ACC 610, Financial Reporting I, your focus will be on developing skills in critical thinking and applying accounting theories and practices in accordance with Generally Accepted Accounting Principles (GAAP). You will analyze situations in your case studies and communicate results to decision makers with an emphasis on assets and liabilities, measurement, and reporting.

In this assignment, you will demonstrate your mastery of the following course outcomes:

• Analyze the conceptual framework, standards, standard setting, and presentation of financial statements for ensuring compliance with Generally Accepted Accounting Principles
• Differentiate between the Generally Accepted Accounting Principles and the International Financial Reporting Standards for their impact on financial statements
• Analyze results of consolidated financial statements for informing internal and external users of financial statements
• Analyze financial statement accounts using assertions related to the recognition, measurement, valuation, calculation, presentation, and disclosure of financial information for their accuracy and reliability
• Determine appropriate accounting treatments of business transactions, including adjusting entries, for their impact on the results of financial statements