I have started the assignment already and trying to understand it all but still having a hard time. Please note that I need each standard describedin one page. One page per standard.

Please see attachment for the assignment.

Access the FASB website by clicking on the FASB Codification Access link under Course Home. Click the log in screen link http://aaahq.org/ascLogin.cfm. Enter your Username and Password provided by your professor and click the FASB Accounting Standards Codification link. Find and click the Pre-Codification Standards/FASB Pronouncements and EITF Abstracts link on the bottom left side of the landing page. Thoroughly read the last four standards issued. Describe each standard and what it added to the existing authoritative accounting literature. Please write 1 page (12-point, double spaced) on each standard. The financial standard accounting board is one of the organizations that have been designated by Security and Exchange Commission as an accounting standard setter for public companies. The standards are essential to the functioning of the economy since investors and creditors rely on credible info. There are four standards that have been issued recently through the emerging Issues Tasks Force. One of the standards was issued on 06/09 and the it was statement no. 168 The FASB Accounting Standards Codification and the Hierarchy of generally Accepted Accounting Principles - a replacement of FASB statement non 162. Scope of this statement applies to financial statements of nongovernmental entities that are presented in conformity with GAAP. The objective of this statement is to replace the statement #162 and also to establish the FASB Accounting Standards Codification as a source to rely on accounting principles that are ruled by FASB. The rules are released by the SEC under authority of federal securities laws