The syllabus/schedule are subject to change.ACCT521Instructions for Research Papers 1.Each student...

Question

The syllabus/schedule are subject to change.ACCT521Instructions for Research Papers 1.Each student will be required to complete two research papers for Advanced Accounting. The purpose of the research papers is to help students better understand the course content and to build up their critical thinking skill in learning.Points Research paper_1: Partnership & Equity Method150Research paper_2: Consolidation and Consolidated Financial Statements150Total3002.Are there any tips to write a good report? 1)Start early. Never wait until the last the minute to work on the paper. YWrite in complete sentences. In clear format, easy for the readers to read and to get the main points of your report.  NO LIST your idea. 3)Always write the report using the information/theory/rules from the course, including your research on GAAP and otherrelated accounting concept(s)/standard(s). 4)In a professional format/ tone. The instructor can tell whether you take the assignment seriously and spend time in an effective way to make the report sounds persuasive and professional. 5)You are welcome to usevarious method(s) to make your report professional and persuasive. For example, tables, figures, or other references (but remember to cite in a correct format). 6)To be concise and persuasive. Use your own words.3.Format: Online submission to D2L. Submissions must be typed in Times New Roman, double space, 12‐point font with one‐inch margins.Please follow APA 5thguidelines when writing the research paper. Wikipedia and Investopedia are NOT proper academic sources, therefore only academic research articles should be your main source of research support. All papers will be submitted through Turnitin in D2L via the drop box. Hence, be careful, using your own words: Papers in excess of 15% of originality will not be accepted or will be graded as 0. 4.More instruction for graduate students:1). Students are expected to use electronic means such as databases and journal articles to research the topic(s) asked. Several theories will also be explained throughout the semester so students are expected to usethese theories to support their reasoning and arguments related to the topic(s) being researched. The paper must demonstrate a mastery of the basic writing mechanics, be free of grammatical errors and supported by proper references.2). You are required to prepare an 5-8 page paper including references for each research paper. The document should use a font size of 12 and one-inch margins and be double spaced. It should include an Abstract and Conclusion section within the paper. Graduate students are expected to use proper grammar and English language. If English is not your first language please make sure to have it proof-read. 3). Graduate studies are designed for more discipline-specific focused learning. When working on the research projects to make your professional judgement, the following Website/material/resources may be (but not limited  to be) useful for you to form youropinion:

Sumit · Accepted Answer

Student Name: 
Research Cases: ACCT521
Abstract: 
In this research paper we can analyzed two research cases that were given to us. The first 
problem relates to Partners and Partnership Liability. In the given case study, we were asked to 
find the liability of partners based on the research. For this case study I have collected data 
through various sources about the liability of partners in a limited liability partnership and 
whether the partners are responsible for the acts of other partners. I have also answered the 
important factors on which our opinion is based.
The second research case is based on Controlling and Equity Method, in this case we were asked 
to answer some questions based on what we have learned in Chapter 1 and our previous 
accounting classes, plus searching the FASB ASC Topic 810 on consolidation. In the first 
question we were asked to explain the meaning of protective non-controlling rights and 
substantive participating non-controlling rights. In the second question we were asked, what 
noncontrolling rights overcome the presumption that all majority-owned investees should be 
consolidated and in the last question we were asked to answer whether the case related to 
consolidation or investment under equity method. For this I have referred our learning during the 
class and the standards given by the FASB. 
I. Partners and Partnership Liability 
Facts of the given case: A local law firm which has eleven lawyers. Among them one lawyer 
has been sued for several million dollars due to a recent case in which poor judgement of lawyer 
led to death of a customer. The entire case was being handled by the lawyer himself but the 
lawsuit names the entire firm as the defendant. Originally the firm was formed as general 
partnership but 3 years ago was converted into Limited Liability Partnership (LLP) based on the 
laws of the state in which they operate.
Principle: In a Limited Liability Partnership (LLP) the individual partners are not liable for the 
debts and liabilities of the partnership as a whole. They are only responsible for the liabilities 
arising from their own conduct acting on behalf of the partnership. If any of the partner has 
actively participated in the management of the case then that partner shall also be held 
responsible for any damage caused. 
Opinion on liability of other 10 partners: According to me, Since the partnership was changed
from general to a Limited Liability Partnership (LLP), 3 years ago and no other 
partner other than the responsible partner had any part in the management of the case in which 
the customer died. If any partner had played any part in the management of case then that partner 
would be also be responsible for payment of millions of dollars. The liability of other partners 
will be nil. The partner who was solely responsible for the case will be responsible for the death 
of the customer as well as for the millions of dollars in penalty.
Important Factors which led to the liability of other partners being NIL:
1. The partnership is formed as a Limited Liability Partnership (LLP), because of which partners 
are responsible only for their own acts and for the acts of all the other partners. Had the 
partnership remained a general partnership then all the partners would have been jointly and 
severally responsible for the death of customer and could be sued for millions of dollars.
2. The management of the case was the sole responsibility of one partner only and no one else 
has participated in the management of the case.

The syllabus/schedule are subject to change.ACCT521Instructions for Research Papers 1.Each student will be required to complete two research papers for Advanced Accounting. The purpose of the research...

Answer To: The syllabus/schedule are subject to change.ACCT521Instructions for Research Papers 1.Each student...

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment