4 Discussions

Need 250 words initial post for each discussion. I will attached one discussion each week because each discussion will open in their current week.
i have attached discussion 1

Discussion Topic #4

For this week’s class discussion, please address 2 of the learning objectives below from this past week’s reading. In addition, please write about a concept from this week that you found particularly confusing or challenging.

Learning Objectives: CHAPTER 5

1. LO 5-1 Define fraud and internal control.

2. LO 5-2 Explain common principles and limitations of internal control.

3. LO 5-3 Apply internal control principles to cash receipts and payments.

4. LO 5-4 Perform the key control of reconciling cash to bank statements.

5. LO 5-5 Explain the reporting of cash.

Learning Objectives: CHAPTER 6

1. LO 6-1 Distinguish between service and merchandising operations.

2. LO 6-2 Explain the differences between periodic and perpetual inventory systems.

3. LO 6-3 Analyze purchase transactions under a perpetual inventory system.

4. LO 6-4 Analyze sales transactions under a perpetual inventory system.

5. LO 6-5 Analyze sales of bundled items under a perpetual inventory system.

6. LO 6-6 Prepare and analyze a merchandiser’s multistep income statement.

Learning Objectives: CHAPTER 7

1. LO 7-1 Describe the issues in managing different types of inventory.

2. LO 7-2 Explain how to report inventory and cost of goods sold.

3. LO 7-3 Compute costs using four inventory costing methods.

4. LO 7-4 Report inventory at the lower of cost or market/net realizable value.

5. LO 7-5 Evaluate inventory management by computing and interpreting the inventory turnover ratio.


This post is worth 25 points towards your grade. Your post needs to be broken down into 3 initial paragraphs of at least 5 sentences each. Here is how I will grade your post:

· Proper grammar and spelling (please treat this as you would in a professional environment): 3 points

· Completing 3 paragraphs of at least 5 sentences each in your initial post: 15 points

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