ACC 499 Week 1 DQ 1 Operating and Capital Leases and
DQ 2 Leasing Restatements
Write clearly and concisely about accounting using proper writing mechanics . ===================================================
ACC 499 Week 1 DQ 1 Operating and Capital Leases and
DQ 2 Leasing Restatements
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Week 1 Discussion 1 Operating and Capital Leases " Please respond to the following : From the e-Activity , analyze the results of the proposed changes to lease accounting on operating and capital leases . Identifying how the right-of-use model will impact financial reporting , indicate how companies are likely to manage the change in reporting . Discuss recommendations you would make to chief financial officers ( CFOs ) of retailers , service providers , and other businesses that lease several locations or have substantial leases of real estate or other assets . Indicate the pros and cons of each approach .
Week 1 Discussion 2 " Leasing Restatements in the Restaurant Industry " Please respond to the following : From the case study , create an argument for the use of principlesbased accounting for leases over rules-based accounting under GAAP , based on the financial statement restatements in the restaurant industry . Provide support for your argument . Assess the materiality of the errors , direction provided by the Securities and Exchange Commission ( SEC ), and the Sarbanes-Oxley Act ( SOX ) on the decision by management to restate the financial statements . Indicate the likely impact to stakeholders when financial statements are restated .