302Project.F09 - DUE 11/19/2009 Information to access IAS...

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DUE 11/19/2009 http://webreserves.ubalt.edu/eres/coursepage.aspx?cid=852 Fall 2009 password: plum (all lower case letters) ACCT 302-Fall 2009- Research Project Part I - : Overview of FASB Accounting Standards Codification Instructions: To familiarize yourself with the Codification use the following sources of information, then answer the questions that follow. 1. FASB Notice to Constituents ( http://asc.fasb.org/ ) 2. Tutorials on FASB Codification home page ( http://asc.fasb.org/ ) 3. FAQ under Codification Resources on FASB website (http://www.fasb.org/home) (on right side of home page) Answer the following questions: 1. What is the FASB Accounting Standards Codification ? 2. Why did the FASB develop the topic-based Codification instead of relying on the previous standard setting structure? List at least four standard setters whose work is included in the Codification . 3. Did the Codification change existing US GAAP? 4. What goals did the FASB achieve with the development of the Codification and the Codification Research System ? 5. Which of the following is not included in the Codification : guidance for cash basis accounting, guidance for governmental accounting, auditing guidance?
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Part II – Navigating the FASB’s Accounting Standards Codification – Instructions: The Codification is organized by AREAS, TOPICS, SUBTOPICS, SECTIONS, and SUBSECTIONS. Using the sources from the Part 1 exercise, answer the questions that follow. 1.
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This note was uploaded on 02/15/2010 for the course ACCT 300 taught by Professor Az during the Spring '10 term at Arizona Western College.

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302Project.F09 - DUE 11/19/2009 Information to access IAS...

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