Memo Assignment - FASB Comment Letters<\/p>
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As discussed in class, the FASB provides the ability for comments from the public as part of their continued development of accounting principles, most notably at the time of exposure drafts.These topics and comment letters are available on their website.<\/p>
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Select any accounting topic that you are interested in that is listed on their website, which has received commentary from the public within the last 3 years (multiple comment letters must be available)<\/p>
Summarize as plainly as you can, what the issues are that the FASB is addressing with this guidance (what is the issue, why is it an issue or being dealt with)<\/p>
Read several of the comment letters (recommend a topic with at least 5 comment letters) and pay attention to who is responding.Often there are questions that are presented that the public is responding to.Discuss your take of the comment letters.Do you agree with them?Are there inconsistencies across the commentators?Do certain commentators highlight issues that others don't? (e.g. accounting firms vs. corporate entities)?What do you think are the most useful comments?What do you suggest?<\/p>
In this memo, consider the objective to discuss anything that you believe would be important to highlight if you were at the FASB and about to have a meeting where this memo would serve to begin the conversation on how the public thinks about the guidance, and what should be done.Limit your write up to two pages, but condense as much useful information regarding the above into that page that you can.Font can be no larger than 12 point times new roman.Single spaced lines.<\/p>
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http:\/\/www.fasb.org\/jsp\/FASB\/Page\/SectionPage&cid=1176157086783<\/p>
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Examples:<\/p>
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Project: 2015-330- Business Combinations (Topic 805): Clarifying the Definition of a Business<\/strong><\/p>", "transcribed_text": "", "related_book": { "title": "Global Strategy", "isbn": "0357512367, 978-0357512364", "edition": "5th Edition", "authors": "Mike W. Peng", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/649592eaa157d_32303.jpg", "uri": "\/textbooks\/global-strategy-5th-edition-9780357512364", "see_more_uri": "" }, "free_related_book": { "isbn": "0786311894", "uri": "\/textbooks\/the-inner-game-of-trading-1st-edition-978-0786311897-255718", "name": "The Inner Game Of Trading", "edition": "1st Edition" }, "question_posted": "2024-06-28 03:38:55", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/listed-below-are-some-financial-statement-classifications-coded-with-letters", "description": "Listed below are some financial statement classifications coded with letters and, below them, selected transactions and\/ or account titles. Code Financial Statement Classification Statement of...", "stars": 3 }, { "url": "\/study-help\/psychology\/why-is-it-important-to-have-a-dream-p-49-1982728", "description": "Why is it important to have a dream? (p. 49)", "stars": 3 }, { "url": "\/the-following-control-procedures-are-used-in-pennys-boutique-shoppe", "description": "The following control procedures are used in Pennys Boutique Shoppe for cash disbursements. 1. Each week, 100 company checks are left in an unmarked envelope on a shelf behind the cash register. 2....", "stars": 3 }, { "url": "\/study-help\/questions\/which-disc-are-registered-as-scsi-disc-option-one-all-9839530", "description": "Which disc are registered as SCSI disc option one all of the option option two temporary disc option 3 OS option four data disc", "stars": 3 }, { "url": "\/study-help\/questions\/question-2-4-pts-245ay-company-is-a-consulting-company-5406906", "description": "Question 2 4 pts 245ay Company is a consulting company located in northern Ohio. Consulting fees earned but uncollected and unrecorded in the company's accounting records as of December 31, 2031...", "stars": 3 }, { "url": "\/study-help\/questions\/requests-for-reduce-tasks-are-not-made-until-of-3217207", "description": "Requests for reduce tasks are not made until ____% of map tasks are completed (Fill in the blank _____) a. 100% b. 5% c. 50% d. 1%", "stars": 3 }, { "url": "\/study-help\/questions\/denver-co-is-about-to-order-supplies-from-canada-that-1242707", "description": "Denver Co. is about to order supplies from Canada that are denominated in Canadian dollars (C$). It has no other transactions in Canada and will not have any other transactions in the future. The...", "stars": 3 }, { "url": "\/study-help\/questions\/your-client-uses-the-deposit-feature-to-record-retainers-in-1242752", "description": "Your client uses the Deposit feature to record retainers in QuickBooks Online. The customer paid a deposit of $600, and you create an invoice for $1,500 worth of work. Where does the outstanding...", "stars": 3 }, { "url": "\/study-help\/questions\/successful-implementation-of-strategy-depends-upon-the-congruence-of-both-3217454", "description": "Successful implementation of strategy depends upon the congruence of both formal and informal parts of an organization. Which of the following is POOR advice to minimize the performance gap (i.e.,...", "stars": 3 }, { "url": "\/study-help\/questions\/a-public-health-class-is-tasked-with-creating-a-mock-3217723", "description": "A public health class is tasked with creating a mock response to a hurricane situation. Instructions included assuring the plan included common terminology. Which of the following would be an example...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/using-the-least-squared-regression-estimate-the-fixed-cost-and-4232100", "next": "\/study-help\/questions\/six-questions-are-attached-in-the-document-tyler-tooling-company-4232102" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Memo Assignment - FASB Comment Letters As discussed in class, the FASB", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/memo-assignment-fasb-comment-letters-as-discussed-in-class-4232101" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } } }