ACC/575 Discussion Questions Solved Week 1-11 – A Graded
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ACC 575 Discussion Questions with Detailed Answers
ACC 575 Discussions
Week 1 Discussion
“CPA Licensing and Enforcement” Please respond to the following:
• From the e-Activity, examine the rule(s) that were violated, and propose at least two modifications to the rule(s) that the state board could make to prevent future violations.
• Determine the most common errors made by tax preparers, and predict the impact those errors would have on the taxpayer and tax preparer.
Week 2 Discussion
“Contract Law” Please respond to the following:
• Determine the key elements of a contract, and create an argument for which element you believe would most likely cause breach of contract. Support your argument with examples.
• Imagine that your client is preparing to sign a large contract for services. Recommend contract elements that would protect your client from financial harm.
Week 3 Discussion
“Uniform Commercial Code” Please respond to the following:
• From the e-Activity, choose a breach of contract related to the sale of goods. Based on your choice, predict the potential financial impact on the company that breached the contract.
• Based on the breach of contract mentioned in the first part of this discussion, propose a remedy for the company that was breached, and recommend a strategy to prevent this type of contract breach in the future.
Week 4 Discussion
“Debt Security” Please respond to the following:
• You have been tasked to assess the security interest for a lender in making a loan to a debtor based solely on intellectual property. Based on your assessment, recommend a strategy for the bank to secure the loan. Support your recommendation with examples.
• The debtor in the first part of this discussion has defaulted on the loan. Now as a representative for the debtor, analyze potential defenses to prevent or delay the bank from collecting on the loan, and recommend a defense that is most likely to succeed. Support your recommendation with examples.
Week 5 Discussion
“Dodd-Frank Act” Please respond to the following:
• From the e-Activity, choose at least two investor protections as prescribed by the Dodd-Frank Act. Based on your choices, take a position as to whether or not the regulations adequately protect investors. Support your position with recommendations and examples.
• Recently, one of the major credit rating agencies downgraded the debt rating of the United States. Take a position on whether or not you think rating agencies are effective. Support your position with recommendations and examples.
Week 6 Discussion
“Retirement Plans” Please respond to the following:
• Imagine you are advising a small business on choosing a retirement plan for its employees. Analyze at least two types of alternative retirement plans, and recommend a plan that you believe will provide the most benefit to the client and its employees. Support your recommendation with examples.
• Congress has appointed you to lead a task force to modify the current taxes on retirement plans. Analyze the tax laws that apply to at least two types of retirement plans, and recommend changes to those laws that would have the least financial impact on the U.S. Treasury.
Week 7 Discussion
“Itemized Deductions” Please respond to the following:
• Choose at least two itemized deductions that taxpayers can deduct on their tax return, and recommend changes to those deductions that would result in a fairer taxable income net of itemized deductions. Support your recommendations with examples.
• Predict at least two positive and two negative potential outcomes from the elimination of the mortgage interest deduction. Support your response with examples.
Week 8 Discussion
“Taxing of Businesses and Corporations” Please respond to the following:
• Take a position as to whether or not you believe taxing businesses or corporations is fair. Support your position with examples.
• Predict at least two positive and two negative potential outcomes from the elimination of the corporate income tax. Support your response with examples.
Week 9 Discussion
“Taxable Transactions” Please respond to the following:
• Propose a business model that would best be suited for laundering money from criminal activities. Support your model with examples.
• Propose an effective strategy that an Internal Revenue Service auditor could use to prevent and detect the money laundering indicated in the business model that you proposed above.
Week 10 Discussion
“Gift and Estate Taxes” Please respond to the following:
• Take a position on whether or not you believe the current rules related to gift and estate taxes are fair. Support your position with examples.
• Your client owns a business and wants to avoid estate taxes. Propose an overall strategy that would minimize or eliminate the estate tax for this particular client. Support your strategy with examples.
Week 11 Discussion
“Course Wrap-Up” Please respond to the following:
• Discuss how the concepts of this course can be applied to your current or future work position.
• Determine to what extent you feel prepared to enter the accounting profession in the area of public accounting as a certified public accountant.