Devry ACCT 301 (Essentials of Accounting)Complete Course Discussions QuestionsWeek 2Internal Controls – DiscussionDescribe what you think is the most important control activity that a company can implement. Why do you think that the one you chose is the most important?Describe one of the three elements that are present when fraud occurs. Of the three elements, which do you think is present first in an ethical situation?Week 3: Financial Statement Analysis – DiscussionHorizontal and Vertical Analysis (Graded)Ratio Analysis (gradedWeek 4: Managerial Accounting – DiscussionManagerial Accounting (Graded)This week, we are shifting our focus from financial accounting to managerial accounting.How do the content and verification of the reports differ between managerial and financial accounting? CVP Analysis (Graded)What is CVP analysis? How is it useful to managers?Week 5Week 5: Budgets and Productivity – DiscussionIncremental Analysis (Graded)What is incremental analysis? How is it used by management?Relevant Costs (Graded)Our lecture states that relevant costs can also be viewed as avoidable costs. What does this mean? This is a very difficult concept, so help your classmates understandWeek 6Week 6: Pricing – DiscussionBudgeting (Graded)Why is budgeting important for a company? What are some reasons that a company would not prepare a budget?Responsibility Accounting (Graded)Describe responsibility accounting and its purpose. What conditions are necessary for responsibility accounting to be used effectively?Week 7Week 7: Capital investment and Incremental – DiscussionCapital Budgeting (Graded)Discuss the capital budgeting process and the inputs that are used in capital budgeting.Transfer Pricing (Graded)What is the transfer price? Why is determining a fair transfer price important for division managers?

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