Auditing

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Accounting & Consulting Accounting Posted 1 year ago

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Delivery by April 4, 2014

$25.00

Budget

Details

I need 3 pages paper on the following info, need it done ASAP
Summarize a Staff Accounting Bulletin and an FASB Exposure Draft. The US
Securities and Exchange Commission publishes staff accounting bulletins from
time to time. Visit the SEC website www.sec.gov and search for staff accounting
bulletins then summarize the SEC’s bulletin and contrast the accounting
treatment promulgated by the SEC with the FASB Accounting Codification (found
on esearch using the CCH Accounting Research Manager within Intelliconnect).
The first part of your assignment must be a summary in your own words suitable
for explaining the accounting treatment to someone who is in the sales
department and has difficultly spelling the word accounting. In simpler terms, try
to explain the accounting issues to an art major. Simplifying the accounting
treatment must include the changes to the accounting equation from the  13
accounting treatments using descriptions such as “increase to assets, Decrease
to assets, increase to owner’s equity as revenue, decrease to owner’s equity as
an expense, reduction in liabilities, increase to liabilities, increase to owner’s
equity as a contribution, decrease to owner’s equity as a distribution”. The
second part of your assignment is to briefly describe a current exposure draft
outstanding from the FASB. The FASB.org website is a good source to use to
find the outstanding exposure drafts. Your summary should focus on either
leases or revenue recognition exposure drafts outstanding and how those
proposals will impact your company.


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