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Week 7 Assignment 2: Revenue Recognition




Question;Week 7 Assignment 2 SubmissionIf you are using the Blackboard Mobile Learn IOS App, please click "View inBrowser."Click the link above to submit your assignment.Students, please view the "Submit a Clickable Rubric Assignment" in the StudentCenter.Instructors, training on how to grade is within the Instructor Center.Assignment 2: Revenue RecognitionDue Week 7 and worth 250 pointsFor this assignment, assume you are a CPA researching and makingrecommendations to your client regarding revenue recognition methods. Choose aspecific client, (e.g., manufacturer, retailer, restaurant, etc.) for this assignment.Make sure your assignment includes recent exposure drafts from FASB and IASB.The most recent information may be found on the FASB Website at a three to four (3-4) page paper in which you:Evaluate the risks of moving from rules-based accounting standards process toprinciples-based process related to revenue recognition.The principles for revenue recognition will impact some industries more thanothers. Evaluate the industries most likely to be impacted by the convergedaccounting guidelines in this area and suggest how these changes should becommunicated to shareholders.Assess whether or not the convergence solution is preferred over the pure IRFSprinciple. Support your position.Assess the impact to a companys profitability when adopting the new accountingrule and how shareholders are likely to react to the change.Use at least three (3) quality academic resources in this assignment. Note:Wikipedia and other Websites do not quality as academic resources.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inchmargins on all sides, citations and references must follow APA or school-specificformat. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the students name, theprofessors name, the course title, and the date. The cover page and the referencepage are not included in the required assignment page length.The specific course learning outcomes associated with this assignment are:Analyze the financial principles and concepts related to equity and revenue.Use technology and information resources to research issues in financial accounting and reporting.Write clearly and concisely about financial accounting and reporting using proper writing mechanics.


Paper#39552 | Written in 18-Jul-2015

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