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Week 2 Discussion Questions

Assignment Requirements

Have any of you had any experience making sure all liabilities are included in the year end financials? (FYI I have no experience, so please answer this from a basic knowledge persepective).


What are the advantages and disadvantages of vested rights in comparison to accumulated rights for a company and its employees? Why is this relevant in the accounting for compensated absences? (Ch. 13 of Intermediate Accounting)


The Accounts Receivable Turnover is a ratio that indicates the liquidity of a company’s Accounts Receivable and also measures the ability of management to collect receivables as rapidly as possible. After studying Chapter 7, find the turnover in days given the following information:

Call Company has Sales of $5,058 million and Sales Returns and Allowances of $100 million. Its beginning and ending accounts receivable balances were $190 million and $370 million, respectively. Why is a fast turnaround of Accounts Receivable considered a good thing?

Which method do you prefer in determining net cash flow from operating activities, the direct method or the indirect method? Explain. (Ch. 23 of Advanced Accounting).


When might a negative cash flow be considered positive? Provide an example and explain. (Ch. 23 of Intermediate Accounting)


AOL announced recently that employees who left the company during the year would not receive the accumulated rights to the 401(k) matching amounts that accumulate during the year and would be paid on the last day of the year only to those employees who were still employed at that date. To me, this sounds quite harsh. Tim Armstrong, the chief executive of AOL, makes 12 million dollars a year in salary according to the article that I have linked below.  He did some other bad things that got him in trouble, like blaming premature births of employees or their spouses for reducing the company’s profits. Because of the ruckus, he reversed his decision and the AOL employees will receive the matching funds during the year.


To make things worse, several other big corporations including IBM, are doing the same thing and sticking to their decisions. It seems like this is an outright war against workers in order to boost stock prices. Since most of the layoffs in corporate America happen in October, November, and December, and since the employees have to be employed at year end to get the matching, this appears to be a big boon to the bottom line for these companies.
According to the text, how will these companies record the liability for the 401(k) matching?
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