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Tag: FASB

What are some examples of guidance in the FASB’s conceptual framework that are consistent with Paton and Littleton’s (1940) matching principle?

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Accounting Become familiar with the FASB Conceptual Framework. Improve ability to “skim” a document to gain an understanding of the central concepts or ideas without reading every word. Clearly communicate your thoughts and ideas in a clear and concise manner. Practice your written communication skills including the ability to write persuasively in a document that […]

What concepts associated with statement of cash flows do you expect to encounter once you start working in the profession?

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Select a publicly traded company and access its most recent financial statements from its annual report. Include the name of the company in your subject line, and do not choose a company that one of your classmates has already posted on. Provide a link to the statements in your post. Examine the statement of cash […]

Explain the selected organization’s use of the three fund categories.

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-Analyze the selected not-for-profit’s financial statements to determine if the statements conform to the Financial Accounting Standards Board (FASB) guidance in Financial Statements of Not-for-Profit Organizations. -Explain the selected organization’s use of the three fund categories. -Recommend at least two areas of potential interest to the stakeholder concerning the status of revenue and expenses. -Analyze […]

Where Do the Rules Come From? Who Impacts Accounting?Discuss

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Where Do the Rules Come From? Who Impacts Accounting? Throughout your studies, you have heard of the “big names” of the organizations that impact accounting. But what do they really do? How do you know what the hot topics are? How are they influenced? What do they have to do with the financial reports you […]

What type of entity is permitted to apply accounting alternatives in the Codification? If a company elects to apply a given accounting alternative, does it mean the company must apply all of the available accounting alternatives? Explain

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1.Aside from the FASB, name three other standard-setting bodies whose guidance is included in the Codification. Committee on Accounting Procedure (CAP), Accounting Research Bulletins (ARB), and Accounting Principles Board (APB). 2.Which search method does the FASB suggest that researchers use a starting point when conducting research? FASB suggest Browse searches or user-directed search. 3.In the […]

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