Project objective
Describe the history, current status and adoption implications of a financial Accounting Standards Board ongoing project.
I pick on Identifiable Intangible Assets and subsequent Accounting for Goodwill.
Can i get help in writing this project.
Attach is a copy of guidelines for your review.
Thank you.
FASB
Project: ACCT
3
1
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“The mission of the Financial Accounting Standards Board is to establish and improve standards of financial accounting reporting for the guidance and education of the public, including issuers, auditors, and users of financial information.” (
http://
www.fasb.org
)
Project Objective
Describe the history, current status, and adoption implications of a Financial Accounting Standards Board ongoing project.
Requirements
The FASB has several ongoing projects that involve the review of standards and which may result in updates and/or revisions of financial accounting standards. You should select an ongoing FASB project after visiting the Technical Plan and Project Updates sections of the FASB Web site.
In a five – to seven-page report, with section headings, you should describe the project, its history (briefly), and the project’s status. The final section of your report should describe the implications of the project’s adoption. For example, a report might discuss a project that would result in accelerating the recognition of certain expenses and require additional disclosures.
Specifically:
· Familiarize yourself with the project, including information on the history and background of the project and its status.
· Using resources at www.fasb.org (including free access to U.S. GAAP codification if you register at the Web site as explained), identify the relevant GAAP and current standards involved. Discuss the proposed change (i.e., what will be different?) and the reasons for the change.
· Using at least three different databases in the UMUC library, find at least five sources of information on this FASB project. As you conduct research, identify an actual case that may have provided the impetus for this proposed change, or that would have been influenced by the proposed change. At least two sources should be from scholarly or professional journals. Document your research progress in the research log. A research log template (sample research tracker) and sample research trackers are included in these project instructions. You should explore UMUC Library resources and our LEO Classroom Accounting Toolbox as well as the resources of major accounting firms and organizations.
· Frequently the large Accounting Firms have extensive analyses of FASB topics. It is strongly recommended to become familiar with these websites. Occasionally they will also offer free webinars on FASB topics.
· Prepare an annotated bibliography. UMUC provides training on this topic:
http://sites.umuc.edu/library/libhow/bibliography_tutorial.cfm
· Identify stakeholders and the impact of the proposed change on each of the stakeholders (comment letters may provide good insight).
Deliverables
Write a five- to seven-page report (APA format, single spaced, standard report size, one-inch margins, and 1
2
-pointfont) presenting the results of your work. Submit your report, research log, and annotated bibliography by the due date, or as otherwise instructed. Cover pages, abstract/ executive summary, table of content if you chose to include or bibliography / reference lists do not count toward page count.
Your topic and research plan must be approved in advance by your professor in the discussion for FASB project. The topic should not be a repeat of your prior work.
Format
Submit your report and annotated bibliography as a Word document. The research tracker can be in either Word or Excel.
Grading
The written communication aspect of this assignment is weighted at
5
0 percent of the total assignment. The grading will be allocated equally in the following areas:
· assignment management
· organization and structure
· evidence and arguments
· readability, style, and mechanics
· presentation
· information literacy and research
The annotated bibliography is graded separately from the research tracker.
Sample Research Tracker
The research tracker should be a columnar document. Omit the word “sample” in your actual submission. Examples are provided below.
(1)
|
No. |
Date |
Question Pursuing, Information Sought, Rationale for Search |
Tool or Source Used |
Concepts or Keywords, Terms, Phrases |
Search Strategy |
Results |
Decision, Action, Next Step |
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| 1 | ||||||||||||||
(2) Another example of a sample research tracker:
|
Topic/Key Concepts |
Sources Consulted |
Search Terms Used |
Results/Comments/Notes |
|
Example: Distance learning and adults |
Library catalog |
Distance AND (education OR learning) AND adults |
E-World: virtual learning, collaborative environments, and future technologies; edited by Doris Christopher, National Business Education Association, 200 4 Checked out; requested via catalog 7 /25 |
(3) Finally, a “filled-in” sample research tracker:
|
# |
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|
10/23 |
Background information |
General encyclopedias (library reference |
television, violence |
Found mostly general information on “television.” Found one small article in Encyclopedia Americana on “Violence in Television.” |
Need more background info? Will check other reference books. |
|||||
| 2 |
More background information |
Looked in Encyclopedia of Television 8 .E53 1997) |
violence |
Found a small article on “Violence in Television” (page 17 6 9 – volume 3). Described correlation between television violence and later behavior. |
Have decided to focus on relationship between television violence and human behavior . Will check for books in online catalog. |
|||||
| 3 |
Description of human behavior |
Looked in Delhi Online Catalog |
human behavior |
Keyword search |
Found a lot of good general books on human behavior, including The Winning Edge by Andrew J. DuBrin. |
Will focus more. Will try “television” and “violence.” |
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| 4 | Delhi Online Catalog |
Looked under “television” and “violence.” |
Found a very good book titled “Violence in the Media” by James D. Torr (CIRC P96.V5 V563 2001). |
Will take notes from books. |
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| 5 |
10/27 |
Need to narrow focus even more with magazine or journal articles. |
Used InfoTrac |
Tried “television and human behavior.” |
Didn’t find much. |
Will try other, broader keywords. |
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| 6 |
Tried “television and behavior.” |
Found way too many irrelevant articles! |
Will try another keyword: “violence.” |
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| 7 |
Tried “television violence and behavior.” |
Found several very good recent articles, including “Aggressive response to TV violence tracks to adulthood.” Sally Koch Kubetin. |
Will print out and review articles, and take notes. |
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| 8 |
11/03 |
Try to find good Web sites to supplement other information. |
Used Google |
Basic search |
Found several Web sites that looked good. The first one was titled “Violence on television,”www.apa.org/pubinfo/violence.html. This Web site is published by the American Psychological Association. |
Will examine other Web sites and list findings. |
Grading Rubric: Communication Assessment Tool for ACCT
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Project Components Being Assessed |
Meets Expectations |
Minimally Meets Expectations |
Does Not Meet Expectations |
Assessment |
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Assignment Management |
The report addresses the assignment in a creative/ innovative way. There is a clear purpose and sense of audience; the report successfully accommodates the audience. |
The report fulfills the assignment. There is an attempt at audience accommodation (in at least three places in the text). |
The report does not fulfill the assignment. There is no sense of audience. |
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Organization and Structure |
The report develops a clear, strong thesis and presents clear topic sentences. There is clear organization at both the macro (overall report—thesis, body, conclusion) and micro (within paragraphs—topic sentences, evidence, analysis) levels. The writer shows obvious control of the argument and has planned the order and method of providing information to the reader. |
The report does a sufficient job of developing and following the thesis. There are at least two topic sentences. There is a slight problem in organization at either the macro or micro level; however, the reader can still follow the argument, and paragraphs are unified around a central idea. At times, the argument does not appear to have a clear path. |
The report lacks organizational structure. There are few topic sentences, and paragraphs do not always center on one controlling idea. The order of evidence appears random, and evidence is not presented to the reader in a logical fashion. It is difficult to follow the argument. |
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Evidence/ |
The report contains a clear, specific, and arguable thesis. The evidence presented is logically sound, contextualized, and appropriately researched and supported, and is synthesized with the writer’s own argument. The analysis is sophisticated and considers other perspectives. All outside information is correctly attributed; documentation styles are applied accurately and consistently for in-text and bibliographic references. |
The report contains a controlling idea, although not a clearly articulated thesis. Evidence is presented, but may be predictable. There is indication of research, but that research may not be fully synthesized within the argument, or the report may lack full analysis of evidence and full consideration of alternative perspectives. In-text and bibliographic references are provided, and documentation styles are applied, but not accurately or consistently. |
The report does not contain a thesis. The report contains several (at least three) logical fallacies. The report contains irrelevant support, and there is insufficient analysis and/or depth of analysis. The report does not contain research and/or does not adequately cite that research. |
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Readability, Style, Mechanics |
The tone and style are appropriate for the audience. There are no proofreading or grammatical errors. Sentence structure and diction are effective and diverse. |
For the most part, tone and style are appropriate for the audience. There are proofreading and/or grammatical errors; however, the errors do not detract from the readability of the report. Sentence structure may be rigid and unvarying. |
Tone and/or style are not appropriate for the audience. Proofreading and/or grammatical errors detract from the readability of the report. There are major problems in sentence structure (run-ons, fragments). |
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Presentation |
Your presentation should be neat and professional in appearance, doing justice to your concepts and content. |
At least one of the requirements is not addressed in the presentation. |
More than one of the requirements is not addressed in the presentation. |
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Total Assessment |
Program Outcomes – Research —Information Literacy
In addition to assessing your performance in this course, this assignment will be used to assess the accounting program’s achievement of program outcomes for the Information Literacy and Research learning areas as described in the university’s Program Assessment Plan.
Information Literacy and Research is defined as follows: demonstrate an ability to use libraries and other information resources to effectively locate, select, and evaluate needed information. The accounting program outcomes are defined as the ability to research accounting information to solve business problems and improve decision making.
Learning Objective: Demonstrate the ability to use academic and professional databases to research and support recommendations on emerging accounting issues.
Grading Rubric for FASB Ongoing Project: ACCT Research Assessment Tool
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Final Student Assessment |
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Research Log |
Assessment and Comments |
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Your research log must be completed using the Sample Research Tracker. |
The research log substantially meets all of the requirements listed. |
At least one of the requirements included on the list is not addressed in the research log. |
More than one of the requirements is not addressed in the research log. |
|
Annotated Bibliography |
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Your annotated bibliography must be complete and prepared in good form. |
The annotated bibliography substantially meets all of the requirements listed. |
At least one of the requirements included on the list is not addressed in the annotated bibliography. |
The annotated bibliography is missing more than one of the criteria listed. |
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Report |
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Your report should present the results of your research. Requirements: Report is college-level writing, with appropriate format (font, margins, etc.), accurate grammar and punctuation, coherent and well-structured sentences and paragraphs, and appropriate use of accounting terminology; content includes a discussion of the proposed change, an actual case and the impact of the proposed change on that case, and stakeholder analysis. |
The report substantially meets all of the requirements listed. |
The report contains some grammar and/or punctuation errors, and/or some awkward structure; content addresses each requirement, but analysis is weak. |
The report contains several grammar and/or punctuation errors and/or is frequently awkward in sentence and paragraph structure; content does not address each requirement, and/or there is little to no analysis. |
|
Total Assessment and Comments |
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Grading Rubric: Critical Thinking Assessment Tool for ACCT
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The report addresses the assignment in a creative/innovative way. |
The report fulfills the assignment. | The report does not fulfill the assignment. | |
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Analysis and Synthesis of Ideas |
The report demonstrates sophisticated use of analysis/synthesis of ideas and evidence. |
The report shows evidence of analytic/synthetic reasoning and/or evaluation of ideas as appropriate. |
The report uncritically accepts ideas and evidence. |
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Proper Identification of Problems to Be Solved |
The report shows understanding of the nature of the problem or issue to be proven. |
The report identifies the problem or issue to be discussed or proven. |
The report does not properly identify the problem or issue to be discussed or proven. |
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Assessment of Correctness (Truth or Falsity) of a Proposition, Idea, or Concept |
The report persuasively demonstrates the truth or falsity of propositions, ideas, or concepts. |
The report attempts to ascertain the correctness of propositions, ideas, or concepts by offering justification, evidence, or proof. |
The report takes propositions, ideas, or concepts at face value without justification, evidence, or proof. |
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Marshalling Evidence and/or Argumentation to Support That View |
The report conclusively argues/documents a point of view. |
The report supports opinions with argument, evidence, or proof. |
The report offers unsupported or irrelevant opinions. |
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Consideration and Evaluation of Alternatives |
The report considers alternatives and shows how and why they should/should not be accepted. |
The report considers alternatives but does not eliminate them. |
The report does not consider alternatives. |
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Arrival at a Supported Conclusion |
The report states a clear conclusion (and alternatives if justified). |
The report demonstrates awareness of a conclusion to be drawn regarding the issue at hand. |
The report fails to draw or state a conclusion regarding the issue at hand. |
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Presentation and Responses Meet Expectations for Communication in Form, Style, and Grammar |
The report substantially meets all requirements. |
The report minimally meets most requirements. |
The report does not meet expectations in more than one of the requirements. |
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Total Assessment and Comments |
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Hide Assignment Information |
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Turnitin® |
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This assignment will be submitted to Turnitin®. |
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Instructions |
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ACCT 310 / 311 10-K Project Instructions UMGC’s accounting department curriculum requires an SEC 10-K Report Project in multiple courses from introductory to advanced-level classes, including: · ACCT 220: Principles of Accounting I / ACCT 221: Principles of Accounting II · ACCT 310: Intermediate Accounting I / ACCT 311: Intermediate Accounting II · ACCT 321: Cost Accounting · ACCT 422: Auditing · ACCT 424: Advanced Accounting / ACCT 425: International Accounting In each course, you will examine different companies focusing on related-course content. This allows you to build your knowledge of accounting and industries. The UMGC Principles of Accounting I & II courses introduced you to specific components of an SEC 10-K Report as bases for fundamental financial ratio analyses and interpretation of results for a selected corporation. In the more advanced accounting courses, including Intermediate Accounting I & II, you will delve deeper into analyzing financial statements, schedules, and notes to gain a more in-depth understanding of a corporation through its SEC 10-K filing. Project Descriptions As an analyst for a large U.S. multinational corporation, you are to examine a possible acquisition candidate, completing an initial search, analysis and review. Your supervisor is a member of the Controller’s team. The Controller reports directly to the Chief Financial Officer (CFO). Your work may be presented to various audiences, so professionalism is essential in all deliverables you create. Many students benefit from the use of the UMGC Effective Writing Center. (access from Academic Support in the classroom horizontal menu bar). Write your report, read carefully, and consider possible edits and changes. Start early. You have sufficient time to complete this project if you plan accordingly. Your report should consist, at a minimum, of the following: · 3 – 4 pages single spaced, double space between paragraphs. Page count does not include title page, tables and exhibits, table of contents, and works cited list. · title page · bibliography or works cited (business classes use APA format) · in-text citations (business classes use APA format) · tables, and appendixes if you wish to copy and paste financial statements or materials you did not write (these will not be part of the ‘page count’, and ensure the datatable is large enough to read clearly) · Your report should use one-inch margins on the left, right, top, and bottom of each page, and font set at 12 points. · Take care to comply with the UMGC policy for academic honesty · Write your report, in your own words, using accounting terminology and phrases from our textbook and explaining how these relate to the financial statements of your company · Our discussion postings during the semester should assist you in completing this report · Ask questions of your professor on this project · Visit the Accounting Toolbox in the Course Content of our LEO classroom · The Accounting Toolbox is a constant resource in our UMGC undergraduate accounting courses · Links and explanations to assist you with this report may appear in this resource Written Assignment: SEC 10-K Analysis Using the Internet, access the SEC 10-K annual report for a publicly traded company of your choice. The company must have inventory and accounts receivable. You must select a company that is publicly traded SEC 10-K and has inventory and accounts receivable. Most students find the SEC 10-K annual report at their company’s website in sections such as About Us and/or Investor Relations. Look for SEC and Annual Filings (you will often find drop-down menus to click). You must research and secure the SEC 10-K Annual Report for the most recent year. Save the file to your computer for access. Do not print as the report is usually 100 pages or more. Post the name of your company, the SEC 10-K web link, and how you found the SEC 10-K in the SEC 10-K discussion for approval by your professor. Review the company’s MD&A (Section 7), Notes to the Financial Statements (Section 8) addressing FASB changes as required by your professor, as well as financial statements and other pertinent accompanying footnotes. Use this information to prepare your “analytic” results. You may want to seek additional background and comparative data on the business. Yahoo Finance has a “competitors” feature we will discuss in class. If specific FASB pronouncements defined during the class required the restatement of prior period earnings or other adjustments, those should be highlighted in your analysis. If these did not occur, you must confirm that your research did not highlight any required restatements. Use terms from our class and create displays using the SEC 10-K for your company. The use of headings will label the sections in your report. Your goal is to explain the financial statements and the information of the SEC 10-K with the knowledge you learn from our class. While not describing every item in the SEC 10-K, your report should tell a story and illustrate your mastery of accounting terms, concepts, and the impact of recent pronouncements. No more than one paragraph should be devoted to your company’s history and non-financial information. A PowerPoint presentation will also need to be prepared to cover the highlights of your report. A PowerPoint presentation is a high-level summary of your written analysis and paper. Do not use paragraphs or even complete sentences, use sentence fragments or “bullet” points. Charts, tables and graphs add value and information to the presentation but ensure there is narrative to explain and support the graphs. The presentation should be sufficiently sized to explain your analysis. Only one slide is required to present the Corporations history and structure: all other slides focus on the prepared research. Please post the presentation in the designated SEC 10-K discussion near the end of the semester to share with other students. Read your classmate’s presentation and provide comments to at least one other posting. After the discussion week, you should review your PowerPoint presentation and submit the final version in the assignment folder. This is the PowerPoint file I will grade. The PowerPoint Presentation discussion is part of participation and designed to assist you in creating your final project. However, if you fail to participate in that discussion, it may affect the ‘grade’ for your PowerPoint Presentation |
