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Sime-A.C. W2A3.docx - Nicole Sime Advanced Composition 240...

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Nicole SimeAdvanced Composition 240Professor Rebecca Yamao11/02/2022Annotated BibliographyIntroduction:Afterman. (2016). FASBs proposal to change the definition of materiality: the unexpecteduproar.The CPA Journal (1975),86(3), 54–.Hook: Is the less you know better?Quote: “In September 2015, FASB issued two proposed documents that, if adopted,could change the way the concept of materiality is assessed and applied regardinginformation to be disclosed in the financial statements”Quote: “Moreover, as evidence that immaterial information in financial statementnotes currently abounds—and is likely to continue unabated even if FASB grants preparersmore discretion concerning the materiality of disclosures…”Evaluative Annotation:This source is vital to my argument because it givesbackground information on what this new bill is and what they are trying to do with it.Without this article I feel like the paper would not be able to hold itself together. The quotes Ipicked work hand in hand with the rest of my argument.Thesis: Although discretion can be difficult, the FASB's suggested materialityproposal could be detrimental rather than helpful, because there's a chance that financialstatements will be deceptive, sending the wrong message to the business community, and thedefinition of what counts as relevant information will change.

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Term
Spring
Professor
Dr. Smith
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