Discussion Week 4
Make your initial post by Friday at midnight, plus two substantive classmate responses by Sunday at
midnight. Reference to the course material (books, articles, videos), external research, quality, depth,
responding to classmates, including the reference(s), and meeting deadlines required for maximum
points. Posting graphs and other encouraged as long as discussed in the post (no decorative pictures).
Consider the DQ a mini-research assignment.
For your chosen company, discuss the following questions:
1. What are internal controls? Why is it important for accounting? Provide a few examples of internal
2. Review the 10K for your company - read Item 9A - "Controls and Procedures" which includes
information about the company's disclosure controls and procedures and its internal control over financial
reporting. Indeify and discuss 2-3 the internal control issues or procdures your company has identified.
3. Review the 10K for your company - readItem 1A - "Risk Factors" includes information about the most
significant risks that apply to the company or to its securities. Companies generally list the risk factors in
order of their importance. In practice, this section focuses on the risks themselves, not how the company
addresses those risks. Some risks may be true for the entire economy, some may apply only to the
company's industry sector or geographic region, and some may be unique to the company. Identify and
comment on 1-2 "unique" risks for your company.
Principles of Internal Controls -
Learn Accounting in 1 HOUR Lesson 2: Journal Entries
ACCT 509 Midterm 2.docx
ACCT 509 Midterm 2.docx - Alternative Formats
Your grade will be based on:
Applying the course material.