ACC 616 Topic 2 DQ 1 and DQ 2
ACC 616 Topic 2 DQ 1 and DQ 2
ACC 616 Topic 2 DQ 1
Refer to the assigned reading, “A Plain English Handbook: How to Create Clear SEC Disclosure Documents.” What do you believe is the most important element in achieving transparent and readable documents? Be specific in your references to the reading.
ACC 616 Topic 2 DQ 2
Go to the FASB Codification and look under Revenue. Look through the options, choose a subtopic, and give some notes on what is required for recognition of revenue or for disclosure. Try to choose information that has not yet been posted by another student. In your responses, identify the similarities and differences between the information provided in your post and the post of your classmate. Discuss any difficulties you had using the FASB Codification.
Topic 3 DQ 1
After reading “Agenda Formation and Accounting Standards Setting: Lessons from the Standards Setters” by Howieson, what is your opinion of the agenda formation process? What role do you think lobbying should play in setting the agenda for accounting standard-setting bodies and why?
Topic 3 DQ 2
Prepare a compliance report of the company you chose for your Annual Report Project. Using your company’s financial statements and notes to the financial statements, evaluate the use of GAAP for income recognition, identify the relevant code sections, any departures from GAAP, and the authority used to justify the departures. In addition, evaluate the reasoning for the company choosing particular accounting methods.