You have been asked by your boss to determine whether it is necessary to show earnings per share (EPS) on the financial statements when the company is not public and not governed by the Securities & Exchange Commission (SEC). What will you tell your boss? (US GAAP ISSUE)AN ASC NUMBER MUST BE USED AS A CITATION REFERENCE

EACH GAAP ASSIGNMENT WILL HAVE THE FOLLOWING FORMAT:

PROBLEM TO BE RESEARCHED: What is the question being asked?

SOURCES FOR RESEARCH: (EX. FASB TEXT PAGE, GAAP GUIDE, ETC.)

A CITATION MUST BE IDENTIFIED

(i.e. U.S. GAAP (ASC) ACCOUNTINGSTANDARDS CODIFICATION TOPIC 111-11 FOR EXAMPLE)

Where did you get you answer?

III. CONCLUSION - What is your answer?