RECEIVABLES, INVENTORY, AND THE REPORTING OF FIXED ASSETS
To be completed during the fourth week of class.
Overview
Weekly Learning Outcomes
This week students will:
1. Evaluate how receivables and inventory are reported on the financial statements.
2. Estimate the direct write-off method and the allowance method of accounting for uncollectible receivables.
3. Describe the reporting of fixed assets, natural resources, and intangible assets on the income statement and balance sheet.
4. Estimate depreciation using the straight-line and double-declining-balance methods.
