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Case Scenario: Your aunt recently received the annual report for a company in which she has invested. The report notes that the statements have been
Case Scenario: Your aunt recently received the annual report for a company in which she has invested. The report notes that the statements have been prepared in accordance with "generally accepted accounting principles." She has also heard that certain terms have special meanings in accounting relative to everyday use. She would like you to explain the meaning of the terms she has come across related to accounting. Go to FASB website and access the FASB Concepts Statements and respond to the following items, providing appropriate APA in-text citations. When you have accessed the documents, you can use the search tool in your Internet browser. You will write a 2-3-page persuasive essay with additional title and references pages using APA format and citation style For help with APA format and citation style and how to write a persuasive essay, consult the Writing Center's resources by accessing the Academic Tools area and selecting the Academic Success Center. Checklist: Address the following checklist items in your persuasive essay: - The viewpoint and purpose of your paper should be clearly established and sustained. - Explain how "materiality" is defined in the conceptual framework. - The concepts statements provide several examples in which specific quantitative materiality guidelines are provided to firms. Identify at least two of these examples. Do you think materiality guidelines should be quantified? Why or why not? - The concepts statements discuss the concept of "articulation" between financial statement elements. Briefly summarize the meaning of this term and how it relates to an entity's financial statements and why you think this is important. - Provide a minimum of two (2) scholarly sources in support for your arguments. - Provide your conclusion. - The persuasive essay should follow the conventions of Standard English (i.e., correct grammar, punctuation, and spelling). - The writing should be well ordered, logical, and unified, as well as original and insightful
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