1. As you will learn, the FASB passes standards applicable to for-profit entities on how to classify their investments; however, this requirement is not required for not-for-profit entities. Research the FASB standards (Section 958) for information. Your memo should be double-spaced and should provide citations from the FASB database.
2. Research the accounting issue and formulize your findings in a formal research memo. The formal memo should be in good form with proper grammar, conveying the results of your research. Students are welcome to discuss the case with each other; however, each student is responsible for writing his/her own research memo.