Any topic (writer's choice)

Instructions

Assume, once again, you are a staff accountant at Behemoth Industries. One day the new CEO of the Food Service Division (who happened to have a Marketing background) stopped by your office with a sheet of paper, handed it to you and said, "I just got back from this financial symposium and I heard a lot of terms and phrases I have never encountered before. So I made a list. I need you to help me figure these out." Part of your job for this assignment will be to take one of the topics on the list, research the topic in the FASB Accounting Standards Codification database, and compose a summary of your findings.Action Items (my topic is revenue recognition )Before class of this week, your professor will assign each student one topic on the list developed by the Food Service Division CEO.Research the topic in the FASB Accounting Standards Codification database. The database can be accessed either through the two (2) user license in the RIA Checkpoint database located on the Franklin library website or through your own personal license provided by the university's annual subscription through the American Accounting Association. Login information for your own license can be obtained from your professor. For Week 15, submit a double-spaced, 12 point font, 4 to 6 page paper detailing the following:Part A. In 2 to 4 pages, prepare a summary of the topic based on the information found in the FASB Codification database (HINT: Paraphrase the information and keep direct quotes to a minimum). Be sure to use proper APA citation and references. (NOTE: Use the information in the database. Do not use your textbook as a reference.)Part B. Access the GAAP Reporter in RIA Checkpoint (see NOTE below for access instructions). In 2 to 3 pages, compare and contrast the information on your topic from the FASB Codification with the information on your topic in the GAAP Reporter (e.g., type of information presented, emphasis or focus). Also visit Section 71 and indicate how your topic in U.S. GAAP differs from how it is handled in International Financial Reporting Standards (IFRS). NOTE: To access the GAAP Practice Manual and IFRS Standards in RIA Checkpoint:Go to the Franklin library website.Click "Databases" under the "Find It" tab on the left.Click "Databases by name."Click "R."Scroll down to "RIA Checkpoint" and click the link.Once in RIA, click "Table of Contents."Next, click "Accounting, Auditing & Corporate Finance Library."Then, click "Editorial Materials."Next, click "Accounting and Financial Statements (US GAAP)."Finally, go to "Practice Manual."Also be sure to add both a cover page and a reference page to your paper.Submit your paper to www.turnitin.com and make any necessary changes to the paper as a result of this submission.Format your paper and cite your references using proper APA style..Also for Week 15, be prepared to make a 5 to 8 minute presentation summarizing your paper at an online class meeting announced by your professor.  Click the Discussbutton in the Toolbox to sign up for your online class meeting by accessing the discussion topic, "Accounting Research & Presentation"Be prepared to answer questions about your presentation from the professor and/or students.Submission InstructionsSubmit the final version of your paper to www.turnitin.com. 

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