AC 300_FASB_WEBSITE EXERCISES AND ASSIGNED READINGS

AC 300_FASB_WEBSITE EXERCISES AND ASSIGNED READINGS -...

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Golden Gate University School of Accounting Participation Assignment FASB Website: Navigation Exercises & Assigned Readings Due August 4, 2011 Purpose of this Participation Assignment This participation assignment intends to familiarize students with the FASB website and current developments in the regulation of financial reporting under US GAAP. Students will navigate to various pages in this website and read selected postings. By completing this assignment, students will gain a working knowledge of how to use this website as a research tool and as a means of staying current about developments in US standard- setting. The assigned readings from this website will form the basis of classroom discussion. To focus the reading and facilitate active learning in the classroom, the instructor has prepared a list of questions as Exhibit. Students should read these questions both and after the navigation exercises discussed below. By reading the questions before completing the navigation exercise, students can improve the efficiency and effectiveness of their technical reading. By re-reading the questions, students can ensure they have located and comprehended the relevant parts of the assigned documents and improved their participation readiness. The instructor will administer a short participation quiz on the assigned readings and related class discussion in the second class session (August 11, 2011). 1
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A. FASB Website Navigation . Go the FASB’s website ( www.fasb.org ) and its home page will appear on the screen. Notice that the home page consists of 10 tabs across the top of the home page and various sections below the tabs. . Open up and read the following items appearing under certain tabs: Board Activities/Action Alert . Open up the tab “Board Activities” and then click open the item listed on the left hand side entitled “Action Alert.” When on the “Action Alert” home page, click open the link Recent Summaries and then open the link Summary of Decision: June 22, 2011 FASB Board Meeting ” and read this summary. NOTE: Students are encouraged to sign up for Action Alert email. By signing up, students will receive at no charge email summaries of Board decisions, recently issued documents, and information about webcasts. Board Activities/International Convergence . Open up the tab “Board Activities” and then and then click open the item listed on the left hand side entitled “International Convergence” and read this item’s home page entitled “International Convergence of Accounting Standards—Overview.” Then open up the item “2011: Progress Report on IASB-FASB Convergence Work—April 21, 2011” and read pages 1-2, scan Appendix A (pages 3-4), and read paragraphs 1-10 and 39-40 in Appendix B. EITF
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This note was uploaded on 11/02/2011 for the course ACCOUNTING 300 taught by Professor Rodhurd during the Fall '11 term at Golden Gate.

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AC 300_FASB_WEBSITE EXERCISES AND ASSIGNED READINGS -...

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