1. (Answer by using attached powerpoint to incorporate in answer) Module 6 deals

1. (Answer by using attached powerpoint to incorporate in answer) Module 6 deals with several important topics for financial reporting. First, we need to understand the basic inventory accounting; FIFO, LIFO and Average cost Method. After discussing basic differences among three different methods, please comment on the impact of each method on the income statement and balance sheets. For LCM (lower of cost or market) please go over my posting in your discussion area, in addition to the textbook explanation.
For PPE please discuss the depreciation methods and the impact of each depreciation methods on the income statement and balance sheet. Also, discuss the asset sale, impairments and restructuring costs, focusing on the financial statement impact.
2. (Will attach all documents on Dell Case to answer this) Please download Dell case and listen to my explanations. Please comment on the Dell adjustment of financial statements over 3 year period (2011-2012, and 2012 – 2013), and be specific when you explain each item; your impression on managerial discretion, lessons you learned from reading the Case, etc. After this case how would you change your perceptions of financial reporting? what are the implications for overall financial reporting? This is kind of comprehensive case to review all the important topics we learned from Modules 1 through 6. The grading for this discussion will be based on the quality of your discussion, and how much you understood the course materials up to this point. Please do not just repeat the summary of the case.