Reference Material: Chapters 13-21 Spiceland Intermediate Accounting 9th Edition J David Spiceland

Item 1: Identify 3 areas where the accounting appears to be most reasonable and useful to investors and creditors. State the accounting treatment and the reasoning in identifying the standard as strong or weak.

Item 2: Identify 3 areas where you believe accounting is confusing, makes less sense and lack of value to investors and creditors. State the accounting treatment and the reasoning in identifying the standard as strong or weak.