ACCT 540 DeVry Week 1 Complete Work

ACCT 540 DeVry Week 1 Complete Work
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ACCT 540 DeVry Week 1 Complete Work
ACCT 540 DeVry Week 1 Discussion
Research (graded)
In general, what are the reasons for conducting research? What types of research have you conducted in the past?
This section lists options that can be used to view responses.
ACCT 540 DeVry Week 1 Homework Assignment
Access the FASB website by clicking on the FASB Codification Access link under Course Home. Click the log in screen
link .org/ascLogin.cfm">http://aaahq.org/ascLogin.cfm. Enter your Username and Password provided by your professor
and click the FASB Accounting Standards Codification link. Find and click the Pre-Codification Standards/FASB
Pronouncements and EITF Abstracts link on the bottom left side of the landing page. Thoroughly read the last four
standards issued. Describe each standard and what it added to the existing authoritative accounting literature. Please
write 1 page (12-point, double spaced) on each standard.
Submit your assignment to the Dropbox located on the silver tab at the top of this page. For instructions on how to use
the Dropbox, read these .next.ecollege.com/default/launch.ed?ssoType=DVUHubSSO2&node=node/184">step-bystep
instructions or watch this
.next.ecollege.com/default/launch.ed?ssoType=DVUHubSSO2&node=node/232">Dropbox Tutorial. See the Syllabus
section "Due Dates for Assignments & Exams" for due date information.
ACCT 540 DeVry Week 1 Course Project
Case 3
You have been hired as a consultant for ABC Investment Group. ABC incorporated in 1999 and manages investment
portfolios for small to medium size companies. The Director of the company is not up to speed on how unrealized gains
and losses as well as realized gains and losses on bonds should be accounted for. The Director has been told that
under certain conditions unrealized gains and losses can be accounted for in the income statement and accounted for
as part of other comprehensive income under other conditions. The Director is also unclear as to how to determine
whether a security is impaired and how to determine the amount that is required to be written down. You have been
asked to look into these issues and determine the proper accounting treatment for bonds.
Milestones
Points
Week 1
Choose a case from the Doc Sharing area (the silver tab located on the top of this page). In a
minimum of 5 to 7 sentences, describe your initial thoughts regarding the case and the challenges 25
you feel you will face with regards to the depth and complexity of the issues that will be addressed
ACCT 540 DeVry Week 1 On Site Activity Point

Accounting Research
Week One Class Activity
1. Explain how the research process adds value to the services offered by an accounting firm.
2. What consequences are considered in the standard-setting process?
3. Explain the importance of identifying keywords when identifying relevant facts and issues.
4. Explain the five basic steps involved in the research process.
5. Discuss how research can support or refute a biased alternative.
6. Explain what is meant by problem distillation and its importance in the research process.
7. What skills are important and tested on the CPA exam?