Research of Emerging Accounting Issues
For this assignment, go to the “Status of Current Issues” page of the Financial Accounting Standards Board’s (FASB) Emerging Issues Task Force (EITF) website. Select a current issue that interests you and identify it for the assignment.
Write a 3–4 page paper in which you:
- Research the most important impact that the mission of the Emerging Issues Task Force (EITF) exerts upon the Financial Accounting Standards Board (FASB). Analyze the EITF’s effectiveness with finding resolutions to emerging accounting issues and make at least two recommendations as to how they could improve their effectiveness. Justify your recommendations.
- Research the issue you selected from the EITF’s “Status of Current Issues” page and analyze at least two key areas being addressed by the EITF.
- Analyze the primary manner in which a company’s accounting and financial reporting are likely to be impacted by the work being done by the EITF on the chosen issue, and make at least two recommendations as to the manner in which the EITF could improve a company’s accounting and financial reporting.
- Create an argument either in favor of or against the EITF recommendation(s) on the issue that you have selected. Provide support for your argument.
- Use at least three quality academic resources in this assignment. Use the Strayer Library to conduct your research. Note: Wikipedia and similar websites do not count as quality references.
Your assignment must follow these formatting requirements:
- This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course.
- Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
- Include a cover page containing the title of the assignment, your name, your professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcome associated with this assignment is:
- Evaluate the effectiveness of accounting standards relative to a given issue.