ACC 400 Course Great Wisdom / tutorialrank.com ACC 400 Course Great Wisdom / tutorialrank.com | Page 27

1.What is a current asset? What is a non-current asset? What is the
differencebetween the two types of assets? In which financial
statement would you find theseassets?
2.What is an example of a significant accounting estimate? What is
the importanceof these estimates? How do ethics play into the
decision-making process? Whichfinancial statements include
significant accounting estimates? Why?
3.What are internal controls? Why do companies need them? What
are someexamples of internal controls? Who is responsible for
developing internal controls?What are some limitations of internal
controls?
4.What are intangible assets? How does a business obtain intangible
assets?What is goodwill? Why would a business have an account for
goodwill?
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ACC 400 Week 1 Individual Assignment Financial
Accounting Versus Managerial Accounting
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ACC 400 Week 1 Individual assignment
Versus Managerial Accounting

Financial Accounting

Complete the Role of Financial Accounting Versus Managerial
Accounting Matrix.
Click the Assignment Files tab to submit your assignment.