This assessment will assess your ability to communicate professionally and demonstrate proficiency in accounting concepts.
This assessment can be divided into 2 main parts:
- Accounting for Current Plant Assets: There are four areas in this section. You’ll be solving problems regarding receivables reporting. Inventory issues. Acquisition costs. Depreciating assets. Each part will have its own problem sheet. You’ll record your responses in the Assessment 3 Template.
- Receivables Aging, and Plant Assets. This section consists of two sections. You will examine the accounting process for a truck parts manufacturer and offer recommendations on how to improve internal control and financial reporting. To estimate the future receivables of the company, you will recommend that they use the accounts receivables aging method. Also explain why it’s better than the direct-write off method.