**ACC 205 Week 5 Final** Week 5 DQ2 – Current Liabilities and Payroll - ACC205 Principles of Accounting I – AU Current Liabilities and Payroll. There are two types of current liabilities that must be estimated. Describe them and explain why they must be estimated. How are the financial statements affected if they are not estimated? Final Paper Focus of the Final Paper Submit a paper on one of the major topics listed below using course topics previously referenced as the basis for the paper and incorporating at least two other related articles of the student’s choice: How have modern accounting systems made a difference in modern organizations? Cash vs. accrual: Is there a difference in recognizing transactions? Why are accurate financial statements important for outside business interests? How does depreciation accounting help the firm manage equipment investment costs and taxes? How should the following types of current liabilities be accounted for? Include in your discussion examples of each type of current liability. 1. Current liabilities of known amount 2. Current liabilities that must be estimated 3. Contingent liabilities Writing the Final Paper The Final Paper: 1. Must be 4 to 6 double-spaced pages in length, and formatted according to APA style as outlined in the Ashford Writing Center.
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