Question 8. Does the Codification contain all GAAP authorities? Explain Question11. What are the SEC accounting authorities? Where are they located? Questions 12. Does the Codification contain SEC authorities? If so, what authority does the Codification have over SEC content? Exercise 3. Use the topical categories in the left navigation panel of the Codification to identify the first three subtopics within the general topic of Presentation Codification) governing each of the followings: Exercise 19. Use the codification to find which expenditures qualify as a research and development cost (be sure to cite where you found the answer within the Codification).
Assignment 1: Complete the following for Chapter 3: Questions 4, 7, 12, 15, and 16; Exercise 7. What is the FASB conceptual framework project? Explain the benefit of this project to the practitioner. Give examples of authoritative and nonauthoritative U.S. GAAP. Authoritative: based on the assumption or concept of financial or government accounting. Nonauthoritative: based on accounting literature not necessarily accounting principles. What constitutes U.S. GAAP? How can the promulgation of an accounting standard impact economic behavior? Discuss a specific example. Distinguish between primary authoritative support and secondary authoritative support.
Question # 2 Discuss the highest level of thinking according to Bloom’s taxonomy. Question # 4 Discuss how critical thinking relates to the term professional skepticism. Question # 7 Discuss the AICPA list of effective writing characteristics. Which are editing skills, and which are composing skills? Exercises # 14 Insert the correct punctuation.
AC 551 Unit 1 Assignment Chapter 1 – 5, 7, 10, 13, 16, 19 NEW AC 551 Unit 2 Assignment Chapter 2 NEW AC 551 Unit 2 FASB Codification NEW AC 551 Unit 3 Assignment Chapter 3 (Questions 4, 7, 12, 15, and 16, Exercise 7) NEW AC 551 Unit 3 FASB Codification NEW AC 551 Unit 4 Assignment FASB Codification (Case 13-1, Refer a Friend Program) NEW AC 551 Unit 4 Assignment Questions NEW AC 551 Unit 5 Assignment Chapter Ex 2,4,17 NEW AC 551 Unit 5 Homework Assignment FASB Codification Case (Case 13-5 Occupy Mall Street) NEW AC 551 Unit 6 Assignment Chapter 9 Question 2,3,8 and Ex 2,7 NEW AC 551 Unit 6 Codification Case Venus Cellular NEW
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