ACC 305 Week 5 Final Paper (FASB) (Ash Course)
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Focus of the Final Paper
Submit a seven to ten page paper on one of the major topics listed below. The paper should incorporate at least three other appropriately documented and related articles drawn from the University’s Library. (Note: you may advance your own topic, but it must be approved by your instructor.)
Explain the role of the FASB in monitoring and controlling business reporting and accounting practices in the modern organization. In what ways do FASB rules limit business practices and reporting financial information? How do such rules and regulations protect the business and public stakeholder communities? To whom is the FASB accountable and who appoints members to FASB?
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ACC 305 Week 4 Communication Case 8-4 (Ash Course)
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ACC 305 Week 4 Communication Case 8-4
Communication Case 8-4 on page 442
You have just been hired as a consultant to Tangier Industries, a newly formed company. The company president, John Meeks, is seeking your advice as to the appropriate inventory method Tangier should use to value its inventory and cost of goods sold. Mr. Meeks has narrowed the choice to LIFO and FIFO. He has heard that LIFO might be better for tax purposes, but FIFO has certain advantages for financial reporting to investors and creditors. You have been told that the company will be profitable in its first year and for the foreseeable future.
Required:
Prepare a report for the president describing the factors that should be considered by Tangier in choosing between LIFO and FIFO.
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ACC 305 Week 3 Communication Case 6-3 (Ash Course...