One of the primary goals of this course is to familiarize you with the many standards developed by the FASB, AICPA, and SEC. In this week's second Discussion, you will explain and discuss the standard-setting process that these organizations follow. First, visit the FASB website (http://www.fasb.org/home). Go to the tab titled "Projects" and choose "Exposure Documents." Select one exposure draft and review the comments made by users. These users include organizations, investors, executives, and financial and accounting professionals. Look for "Comment Letters" on the site. Need help starting this assignment. Write 200 words summarizing the draft and its comments.

• Does this exposure draft represent a new accounting idea or does it represent a revision to an existing accounting idea?
• Do the comment letters seem to support or oppose the exposure draft? Support your position.

200 words summarizing the draft and its comments.

• Does this exposure draft represent a new accounting idea or does it represent a revision to an existing accounting idea?
• Dothecommentlettersseemtosupportoropposetheexposuredraft?Supportyourposition.