Describe the effects of assets

Reference no: EM133206890

Discussion Question One -

What kinds of risks does a firm like Amazon.com face with respect to safeguarding its assets?

What types of controls do you think it already has in place to minimize these risks?

Go to the firm's website and click on "Investor Relations." You'll be able to find the firm's annual report to help you answer these questions.

Are any specific controls mentioned in the annual report?

What depreciation method does Amazon use for property and equipment?

Discussion Question Two -

Sometimes the value spent by a corporation is recorded as an asset and sometimes as an expense. Find appropriate professional research to answer the following:

-Define the two terms. How and why are these expenditures different from each other?

-How are they different from Liabilities?

-Describe the effects of assets and expenses on the company's financial statements.

-In ACC1001 you studied about Current Assets. How do they affect the financial statements differently from fixed assets?

-Comment on the statement that "all assets are eventually expenses".

Reference no: EM133206890

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