Reference no: EM132448205 , Length: 7

FASB Project -Broad Transactions

"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."

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 paper, you should describe the project, its history (briefly), and the project's status. The final section of your paper should describe the implications of the project's adoption. For example, a paper might discuss a project that would result in accelerating the recognition of certain expenses and require additional disclosures.