ACC 202 FASB Project week 7

Assignment #3 – FASB Project (PowerPoint or Google Slides)140 Points
Objective: Learn to research FASB standards, apply to companies, and compare to the IFRS
standards on an international basis.
Topic: Choose a topic from the list:
1. Intangibles (this is my topic)
Prepare a report using PowerPoint or Google Slides on the following:
A. Review the FASB codification database. Summarize this issue with specific references to
where it as found in the database (Topic numbers). You might want to also search the FASB
pronouncements before 2009 to see where it was listed and gain insights into this topic. This
must include a background on the Topic, the reasoning for the Topic, plus any major criteria for
its use.
B. Where would it be noted in a 10-K report? Explain. What needs to be included as minimum
disclosure?
C. Research any current literature and comment if there are any issues with this either 1) in
general and 2) with converting to IFRS.
D. Search out one US publically held company from the Fortune 500 list
(http://fortune.com/fortune500/) that uses this topic in its 10K report. Explain where it is shown,
what is included and why, and include a copy of that page in the Appendix.
E. Search out 1 non-US publically held company in a similar industry using IFRS either by
going to their website or seeing if there is a similar company here:
http://www.nyse.com/
and see how this similar topic is shown in its annual report. Explain where it is shown, what is
included and why, are there any differences in IFRS versus US GAAP reporting, and include a
copy of that page in the Appendix.
Instructions:
● Make sure to include an Introduction and Conclusion.
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● The final report will be uploaded to Blackboard. The body of the report must be
approximately 8 to 15 slides in length (not including the cover slide, reference slide, and
appendix slides).
● Each team member must upload a final copy of the report.
●
Be sure to thoroughly understand the topic. Go online to our FASB codification database
and also research everything that you can that relates to the FASB topic. There will be
useful information on the company’s Website, the SEC website (the company’s annual
10-K). The purpose of this assignment is for the team to utilize many of the concepts
presented in the text to the topic that is being studied.
Report Guidelines:
Be sure you have an introduction, an analysis and a conclusion (MARK IT AS SUCH). The
questions and comments below are designed for you to read and consider before you finalize
your report. Use APA in your report and cite your sources. You need to compare and contrast
your research to the text in the course and have at least three citations.
Remember: This is designed to be a team project. Any member who does not contribute to the
project is to not have their name on the Report. Each team member will evaluate their other team
members by using the text submission box when uploading the report.
Your report(s) will answer the following issues (not necessarily in this order).
● Does your report answer each of the questions assigned with your company?
● Does each member of your team have a part in the paper?
● Think deeply about not giving a book report – but offering new and interesting
information on how your assigned company connects with the material we have covered
in class (discussions and the text).
Does your report have a clear beginning, middle and end?
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