1.  How did the cultures and lifeways of various Native American groups differ, and what was the role of the natural environment in shaping diverse Native American societies? 

2.  One goal of European exploration was expanding trade routes.  Discuss other motivations for European migration, particularly those that led to the desire to establish colonies in the Americas.

3.  During the late fifteenth century, England was an unlikely competitor for New World colonies. How did political and religious conflicts contribute to England’s emergence as a major European power by the close of the sixteenth century? 

 In last week’s first Discussion, you located a public company’s financial statements and discussed its accounting standards. For this Application, return to those financial statements and use what you have learned in your readings this week to analyze the company’s method of reporting. Does it provide enough information for the reader?

Required:

On the FASB website, locate Concepts Statement No. 5 by clicking “Concepts Statements,” and then “Concepts Statement No. 5.”

In at least 250 words, address the following questions:

• What method of reporting is prescribed in Concept Statement No. 5?
• What additional information for users do the notes to the financial statements provide, that is not provided in the financial statements?

 You have recently been hired by Davis & Company, a small public accounting firm.  One of the firm’s partners, Alice Davis, has asked you to deal with a disgruntled client, Mr. Sean Pitt, owner of the city’s largest hardware store.  Mr. Pitt is applying to a local bank for a substantial loan to remodel his store.  The bank requires accrual-based financial statements, but Mr. Pitt has always kept the company’s records on a cash basis.  He doesn’t see the purpose of accrual-based statements.  His most recent outburst went something like this: “After all, I collect cash from customers, pay my bills in cash, and I am going to pay the bank loan with cash.  And, I already show my building and equipment as assets and depreciate them.  I just don’t understand the problems.”  

Required: Draft a memo to Mr. Pitt providing an explanation of why the bank requests accrual-based financial statements for loan requests such his.  Include in the memo:

• An explanation of the difference between a cash basis and an accrual basis measure of performance than net operating cash flow.
• Why, in most cases, that accrual basis net income provides a better measure of performance than net operating cash flow.
• The purpose of adjusting entries as they relate to the difference between cash and accrual accounting.

Read a selection of your colleagues’ postings.

1. Please watch this video. Be patient. It may be boring at first but watch carefully.
2. Pay attention to the images you see every day. It can be something in your kitchen, on the way to work, in your closet, in the grocery store, etc.
3. Think about the video you saw; now take a picture (your cell phone is fine) of an image you see every day that you think can be a “design” – based on your understanding of the video you saw. I realize, you may not know much about design or photography yet since class just started, and you probably have never had an design/art/photo class before.
4. Post (embed) your photo on this discussion page. If you don’t know how to embed an image, go to the resource module and read the guide “How to embed an image”.
5. Briefly discuss how the video you saw influenced your choice of image. Try to connect your photograph to design and photography. Go back to the video if needed. The easiest way is to write a bit about what you learned from the video. Then describe how the things you learned affected your choice of subject (what you photographed). In your description of your photograph, think in terms of visual elements (see list below). Try using the vocabulary from the visual element list below (14pts).

• Visual Elements in art/photography:
  • Line: What kind of lines are in the photograph? Curvy, straight, thin, thick? One single line? Multiple lines? Are the lines creating some kind of directions or movements? Is a natural line formed by the object itself (like an electrical line) or is it a group of objects that formed a line (like a bunch of cones lined up to form a line)?
  • Shape: Are the shapes geometric or organic? One shape or many? Do they form a pattern?
  • Space: Does the photograph seem to show depth? Shallow? What made this (like large cones in front and gets smaller as they move into the back – this creates depth)? Is there a spatial illusion? What about the negative/background space?
  • Texture: Does the image/object feel rough? Smooth? Does it look wet? Shiny? If you could touch the surface what do you think it would feel like?
  • Value: How dark is the darkest value? The lightest? Is there a long range of grays? Does the foreground or main object have the lightest or darkest value?