You may $($and are encouraged to$)$ use debits and credits or $t-$accounts to illustrate the accounting if appropriate.

Cite the ASC down to the Paragraph. For example, $($ASC $330-10-05-01)$

Question $1($Theory $-15$ points$)$:

You are visiting family and are scrolling through your news feed while at the airport. One that pops up is an op$-$ed that discusses the changing nature of the economy. Specifically, the writer speculates that artificial intelligence will dramatically change the way that financial statements are created and financial statement users interact with financial data. The author further speculates that this will benefit financial statement users, since then anyone with an online connection would be able to access any data about a company's operations in real$-$time and interact. How will the onset of this technology potentially change your career prospects as an aspiring accountant?

Question $2($Conceptual Framework $-15$ points$)$:

Why do we have a conceptual framework? In other words, what does the FASB conceptual framework achieve and why is each component important?

Question $3($Codification $-5$ points$)$:

How does U$.$S$.$ GAAP define "Cash" and "Cash Equivalents", respectively?

partner who has a basic understanding of accounting? You may $($and are encouraged to$)$ use debits and credits or $t-$accounts to illustrate the accounting if appropriate.

Cite the ASC down to the Paragraph. For example, $($ASC $330-10-05-01)$

Question $1($Theory $-15$ points$)$:

You are visiting family and are scrolling through your news feed while at the airport. One that pops up is an op$-$ed that discusses the changing nature of the economy. Specifically, the writer speculates that artificial intelligence will dramatically change the way that financial statements are created and financial statement users interact with financial data. The author further speculates that this will benefit financial statement users, since then anyone with an online connection would be able to access any data about a company's operations in real$-$time and interact. How will the onset of this technology potentially change your career prospects as an aspiring accountant?

Question $2($Conceptual Framework $-15$ points$)$:

Why do we have a conceptual framework? In other words, what does the FASB conceptual framework achieve and why is each component important?

Question $3($Codification $-5$ points$)$:

How does U$.$S$.$ GAAP define "Cash" and "Cash Equivalents", respectively?