1. “Managing Your Firm’s QuickBooks System” Please respond to the following:
- QuickBooks provides many tools for managing and securing your QuickBooks system (e.g., the QuickBooks Audit Report, and the QuickBooks’ Accountant Copy). Evaluate the effectiveness of these and other tools that are used to manage and secure QuickBooks.
2. “Assessments” Please respond to the following:
- Intuit offers a Quickbooks Online Certification for those looking to further their professional development. Give your opinion on obtaining this certification and the process suggested by the text and the http://my-quickbooks.com Website.
- Based on your experiences over the last few weeks with Excel and QuickBooks, examine the primary ways the course will help you with your future career aspirations. Include the features of the course that were helpful. Also discuss the features that were not helpful and explain why. Your constructive criticism and suggestions are welcome!
3. “Taxes” Please respond to the following:
- From the e-Activity, create a scenario reflecting the differences between GAAP and international accounting standards for taxes. Determine which reporting standard best reflects financial reporting for taxes, and support your position.
- Examine the impact of FIN 48 (Accounting for the Uncertainty in income taxes) on GAAP reporting. Identify the benefits of the requirements on financial reporting. Assess whether FIN 48 was necessary, and support your position.
4. “Bethlehem Steel Corporation’s Deferred Taxes” Please respond to the following:
- From the case study, evaluate Bethlehem Steel’s valuation allowance in relation to the company’s ability to use deferred tax benefits in the future. Justify the position taken by Bethlehem Steel in the financial statements.
- From the case study, clarify the temporary differences identified in the tax footnote to Bethlehem Steel’s 2000 10-K due to employee benefits, depreciable assets, and the tax loss carried forward. Indicate what a user of the financial statement information can glean from reading the tax footnote to Bethlehem Steel’s 2000 10-K.
5. “Application” Please respond to the following:
- Discuss how the concepts from this course can be applied to your current or future accounting position.
- Discuss whether or not your feel prepared to enter the profession of Accounting. Identify what could help you further.