Assignment is attached. Please read carefully. It should not exceed the number of words stated in the assignment or professor will not give credit. Thank you

-f"" If" 0 Hi By completing the essay on the following topic, yo example, if your grade from all class assignme credit of 2%, your final grade will be 82% and y on 82%. You can complete the essay by answering the follo Fall 2016 ACG 4101 Extr .31':' .4 h ' As"- a Cred't Essa u can earn up to 2% extra credit. For nts and exams is 80% and receive full extra our letter grade will be determined based wing questions. The essay will be graded out of 100 points. Grading will be based on the completeness and clarity of your write-up. Note that even if on com lete the essa Why did FASB issue this update? (20 Why are LIFO and retail inventory Refer to earnings quality section (p v-ioiwiv'mxo'ix' textbook define earnings quality? How quality of income from continuing ope Additional Notes: (1) No more than double-spaced 5 pages (1 appendix and reference list (2) Clearly write last name, first name and ID (3) 12-point Time New Roman 2015-1 1. Wig BwC/fh-I'J-cp Read ASU (Accounting Standard Update) Summarize main provisions of this update. (2 points) How is this update different from the previous standards? (20 points) What are the expected benefits of this update for financial statement prcparcrs'? (1 methods excluded from this update? (l0 points) .l77) of Ch would you think this upd rations and bottom line net income? (20 points) t receive an credit if on do it oorl '. 0 points) 0 points) does the earnings apter 4 of the textbook. How ate affect " margin for all sides) excluding cover page, on cover page (4) Due December 1 (Thu): Submit hard copy (only) before class begins (No e-mail) (5) If you need to provide additional ana essay questions above, provide them in (6) You should refer to and/or read other relevant materials and list them reference list following your essay (7) The sequence of your essay should be: @. Cover page @. Main essay G). Appendix GI). Reference list (8) You should prepare the essay on your ow fellow students or another people. lyses or insights that are not relevant to the the appendix. in the n without taking help from any other