Q Instructions ACCT 301 – Weekly Homework The primary reading material source is http://www.principlesofaccounting.com/ (For additional information, use the OpenStax textbook available within LEO as a secondary resource.) SCENARIO: You are a new hire for a major corporation completing your eight-week rotation related to accounting, financial reporting, budgeting, cost control, and profit maximization. As part of your rotation you are learning about the accounting process and how to use accounting information to make managerial decisions. Read the assigned chapters to learn the accounting concepts, then submit a written report in the LEO assignment folder summarizing your knowledge of the week’s concepts. You should create this report to provide documentation/evidence of your assigned chapter readings and self-assessment exercises (Fill in the Blanks, and Multiple Choice questions at end of each chapter). (A series of projects focused on your SEC10K corporation will be completed and submitted separately.) REQUIREMENT: As described above, upon completion of the readings and quizzes (the week’s assigned chapters are detailed below) write a report as a Word document and upload it to this week's Homework assignment folder. Summarize what you learned through your readings and practice quizzes. Demonstrate an understanding of the week’s concepts. The more detailed writeups documenting a solid understanding of the material will earn the highest homework points. Week 8: A. Read and complete the self-graded quizzes for chapters 23 and 24 http://www.principlesofaccounting.com/ . B. Complete a report summarizing lessons learned from our course and submit in this week’s Assignments Folder. Additionally, provide a summary of the accounting concepts learned through the readings and practice quizzes for this week. Demonstrate your understanding of the week's concepts. If you need ideas regarding topics to discuss, see ideas below. The more detailed your write-up documenting your understanding the higher it will be graded. (See Rubric for details.) Complete the report below as a Word document and submit in the Assignment Folder for week 1 Homework. Additionally, here are some topics to consider: • Why would income statement results prepared and reported externally, following GAAP absorption costing, differ from income reported internally, in a variable/fixed contribution margin format? • What analysis tools are available to help management analyze large, capital investment options decisions? • What topic(s) gave you trouble this week (if any)?/What topic(s) do you feel you were able to grasp? Post questions in the homework discussion thread! The most important aspect of this write-up is to document your understanding of the week's concepts! Remember all submissions and postings in our class must be in your own words. Deliverables are to be single spaced with double spacing between paragraphs. These are business reports, thus proper spelling, grammar, and professional writing is expected. Your report submission serves as your new hire eight-week rotation report to your supervisor regarding the knowledge learned for this week’s material related to accounting and financial reporting.