Module 1 discussion
In your own words, how does unearned revenue arise? Why can it be classified properly as a
current liability? Please provide several examples of business activities that result in unearned
Module 02 Discussions
In your opinion, how are gains and losses from extinguishment of debt classified in the income
statement? What disclosures are required of such transactions?
Also, address the current roadmap towards the convergence of one agreed upon global
accounting standard. Identify specific reporting differences between the standards. Identify
which resource best meets the goals of reporting companies in a given country. Also identify
which standard provides the most useful information to decision makers
Module 03 Discussions
Please explain the principle considerations of a board of directors in making decisions involving
Module 04 Discussions
When the equity method is applied, what disclosures should be made in the investor's financial
Module 05 Discussions
In your own words, how should the results of installment sales be reported on the income
Module 06 Discussions
What controversy relates to the accounting for net operating loss carryforwards? Please share
your opinion on the matter.
Module 07 Discussions
Mallard Company rents a warehouse on a month?to?month basis for the storage of its excess
inventory. The company periodically must rent space whenever its production greatly exceeds
For several years, the company executives have discussed building their own storage facility,
but this enthusiasm wavers when sales increase sufficiently to absorb excess inventory.
What is the nature of this type of lease arrangement, and what accounting treatment should be
accorded it, in your view?
Module 08 Discussions
Some believe that iGAAP provides too many choices within its accounting guidance. Is this a
possible concern in the area of cash flow reporting in your opinion? Please explain your