ACC 577 Emerging Issues Task
Force
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ACC 577 Emerging
Issues Task Force
Review the Emerging
Issues Task Force (EITF) on the FASB Website. Next, review the Description
and Status of Current Issues section, along with the Exposure
Drafts and Public Comment Documents.
Write a four to five
(4-5) page paper in which you:
1.
Analyze the primary
way in which Emerging Issues Task Force (EITF) influences Generally Accepted
Accounting Principles (GAAP). Based on your analysis, recommend one (1)
improvement that the EITF could take in order to more effectively influence
GAAP.
2.
From the Description
and Status of Current Issues section of the FASB Website, choose one (1) of the
current issues, and analyze the EITF’s conclusion(s). Based on your analysis,
make at least two (2) recommendations that would enhance the EITF’s
conclusion(s). Provide a rationale to support your recommendation.
3.
From the Exposure
Drafts and Public Comment Documents section of the FASB Website, choose one (1)
public comment on the most recent exposure draft issued by EITF. Analyze the
chosen public comment, and give your opinion on whether or not you agree with
the commenter. Support your position with at least two (2) examples.
4.
Use at least three (3)
quality academic resources in this assignment. Note: Wikipedia and other
Websites do not quality as academic resources.
Your assignment must
follow these formatting requirements:
·
Be typed, double
spaced, using Times New Roman font (size 12), with one-inch margins on all
sides; citations and references must follow APA or school-specific format.
Check with your professor for any additional instructions.
·
Include a cover page
containing the title of the assignment, your name, the professor’s name, the
course title, and the date. The cover page and the reference page are not
included in the required assignment page length.
The specific course
learning outcomes associated with this assignment are:
·
Examine the accounting
framework and governing boards, both domestic and international.
·
Analyze the financial
principles and concepts related to consolidated financial statements,
intercompany transactions, combined financial statements, financial
instruments, derivatives, hedging and contingencies, and commitments.
·
Analyze the financial
principles and concepts related to earnings per share, disclosures and
reporting, and foreign currency transactions.
·
Use technology and
information resources to research issues in financial accounting and reporting.
·
Write clearly and
concisely about financial accounting and reporting using proper writing
mechanics.
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