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WEEK 6 ACC 304

Compare and contrast the write-off methods for limited-life intangibles and indefinite-life intangibles. Suggest one (1) way in which a company could decrease the likelihood of recording a write-off of long-lived assets.

Imagine that you are the senior accountant at your organization, and management is unsure of what the generally accepted accounting principles are for recognizing research and development cost. Explain to management what qualifies as research and development cost, and infer the major impact that research and development cost has on the financial statements. Recommend to management whether the company should conduct its own research and development or hire a research and development firm. Justify your rationale.

From the e-Activity, briefly discuss the type of contingencies that Coca Cola is involved in and the accounting treatment of such contingencies. Give your opinion on whether the notes to the financial statements disclose the necessary information on the contingencies for interested parties to make an investing decision. Based on the information disclosed, decide whether you would you invest in Coca Cola. Justify your rationale.

•Suppose management is involved in a situation where the outcome of the situation is contingent upon certain events to occur; however, management is unsure of the generally accepted accounting principles for reporting contingencies. You are the senior accountant, and management has tasked you with preparing a report on contingencies. Distinguish between a gain contingency and a loss contingency, and highlight the accounting treatment for each type of contingency. Also, recommend two (2) improvements to the reporting requirements on loss contingencies to FASB

Company XYZ is considering using off-balance-sheet financing in order to obtain a loan from a local bank, but the company is unsure of the various forms of off-balance-sheet financing. For management, compare and contrast the various forms of off-balance-sheet financing. Give your opinion on whether or not Company XYZ should engage in off-balance-sheet financing. Provide a rationale with your response.

•Explain the primary advantages and disadvantages of issuing bonds with call features to potential buyers. Suggest two (2) improvements that a company could implement in order to make bonds with call features more attractive to potential buyers.