ACC 616 Topic 3 Discussion Questions 1, 2

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ACC 616 Topic 3 Discussion Questions 1, 2

ACC 616 Topic 3 Discussion Questions 1, 2

ACC 616 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?

ACC 616 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.

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ACC 616 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?

ACC 616 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.

ACC 616 Topic 4 DQ 1

Using the one of the GCU Library’s databases, read and summarize an article related to your APR company’s business or industry. Following the research process, identify the issue or problem addressed in the article, the evidence used to evaluate the issue or problem, the conclusion reached, and the evidence/analysis used to support that conclusion. Include a citation and a direct link to the article in the database. In responses to other students’ summaries, you should discuss whether you believe the authors followed the research process and sufficiently defended and supported their conclusion. Does this article have any implications for accounting or business practice in your own business or industry?

ACC 616 Topic 4 DQ 2

After reading “An Examination of Potential Changes in Ratio Measurements Historical Cost Versus Fair Value Measurement in Valuing Tangible Operational Assets,” by Baker, discuss the implications of using fair value measurements for long-lived assets. Comment on the advantages and disadvantages of each method. Which method do you think should be used and why?

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