MAKE A RESPONSE OF ONE PAPER

Select a recent FASB or IASB accounting exposure draft or a new, revised, or converged standard that has been created within the last three years. Complete the following Describe the process followed in setting the standard Prepare an annotation of the exposure draft. (An annotation is a summary of the main points of the proposed new or revised standard, organized to include correctly formatted APA references.) Include answers to the following questions: . . Problem: What was the issue identified by the author(s) in the previous standard? . Methodology: Which research method was employed in the process? . Results: What was the result or conclusion noted at the end of the convergence, revision, or adoption of the standard? .Application: How might practitioners or students apply this information in resolving accounting issues