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ACCT 540 DeVry Entire Course

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<strong>ACCT</strong> <strong>540</strong> <strong>DeVry</strong> Week 3 On Site Activity Point<br />

Identification of Key Search Criteria<br />

What are the implications of GAAP and authoritative support to the researcher?<br />

1. To conduct efficient research, where should one start in reviewing the accounting literature in search of a solution to<br />

a problem?<br />

2. How can the promulgation of an accounting standard impact economic behavior? Discuss a specific example.<br />

3. Distinguish between primary authoritative support and secondary authoritative support. EXERCISES<br />

<strong>ACCT</strong> <strong>540</strong> <strong>DeVry</strong> Week 4 Discussion<br />

Key Search Terms (graded)<br />

Your company has determined that they have made an error in the financial statements. What questions would you<br />

ask to determine the key search terms for your research? This section lists options that can be used to view responses.<br />

<strong>ACCT</strong> <strong>540</strong> <strong>DeVry</strong> Week 4 Homework Assignment<br />

Access the IASB and IFRS Foundation website (.ifrs.org/">www.ifrs.org). Click on the "Standards Development" tab<br />

and then "Work Plan for IFRSs." In 2–3 pages (12-point, double spaced), describe three projects in the Work Plan.<br />

Submit your assignment to the Dropbox located on the silver tab at the top of this page. For instructions on how to use<br />

the Dropbox, read these .next.ecollege.com/default/launch.ed?ssoType=DVUHubSSO2&node=node/184">step-bystep<br />

instructions or watch this<br />

.next.ecollege.com/default/launch.ed?ssoType=DVUHubSSO2&node=node/232">Dropbox Tutorial.<br />

<strong>ACCT</strong> <strong>540</strong> <strong>DeVry</strong> Week 4 <strong>Course</strong> Project<br />

Case 3<br />

You have been hired as a consultant for ABC Investment Group. ABC incorporated in 1999 and manages investment<br />

portfolios for small to medium size companies. The Director of the company is not up to speed on how unrealized gains<br />

and losses as well as realized gains and losses on bonds should be accounted for. The Director has been told that<br />

under certain conditions unrealized gains and losses can be accounted for in the income statement and accounted for<br />

as part of other comprehensive income under other conditions. The Director is also unclear as to how to determine<br />

whether a security is impaired and how to determine the amount that is required to be written down. You have been<br />

asked to look into these issues and determine the proper accounting treatment for bonds.<br />

Milestones<br />

Points<br />

Week 4<br />

Gather data from multiple sources and present that data in one to two pages (12-point font, doublespaced).<br />

Be sure to document your<br />

25<br />

sources.<br />

<strong>ACCT</strong> <strong>540</strong> <strong>DeVry</strong> Week 4 On Site Activity Point<br />

Gathering Data<br />

1. Access the IASB Web site (.iasb.org/">www.iasb.org) and list three of its active projects.<br />

2. Access the SEC Web site (.sec.gov/">www.sec.gov), click International Affairs, International Enforcement<br />

Assistance, and list the four types of enforcement cases.<br />

3. Access the AICPA IFRS resource page (.ifrs.com/">www.IFRS.com). What are two featured IFRS news items?<br />

4. Access the IOSCO Web site (.iosco.org/">www.IOSCO.org), click the About IOSCO section, and list the working<br />

committees.

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