FASB Undertaking: ACCT 310
“The mission of the Financial Accounting Standards Board is to establish and improve standards of financial accounting reporting for the steering and schooling of the public, together with issuers, auditors, and customers of financial info.” (http://www.fasb.org)
Undertaking Goal
Describe the historical past, present standing, and adoption implications of a Financial Accounting Standards Board ongoing challenge.
Necessities
The FASB has a number of ongoing tasks that contain the evaluate of standards and which can end in updates and/or revisions of financial accounting standards. You must choose an ongoing FASB challenge after visiting the Technical Plan and Undertaking Updates sections of the FASB Website.
In a 5 – to seven-page report, with part headings, you must describe the challenge, its historical past (briefly), and the challenge’s standing. The ultimate part of your report ought to describe the implications of the challenge’s adoption. For instance, a report would possibly talk about a challenge that may end in accelerating the recognition of sure bills and require further disclosures.
Particularly:
· Familiarize your self with the challenge, together with info on the historical past and background of the challenge and its standing.
· Utilizing assets at www.fasb.org (together with free entry to U.S. GAAP codification in case you register at the Website as defined), determine the related GAAP and present standards concerned. Talk about the proposed change (i.e., what can be totally different?) and the causes for the change.
· Utilizing at the least three totally different databases in the UMUC library, discover at the least 5 sources of info on this FASB challenge. As you conduct analysis, determine an precise case which will have supplied the impetus for this proposed change, or that may have been influenced by the proposed change. A minimum of two sources needs to be from scholarly or skilled journals. Doc your analysis progress in the analysis log. A analysis log template (pattern analysis tracker) and pattern analysis trackers are included in these challenge directions. You must discover UMUC Library assets and our LEO Classroom Accounting Toolbox in addition to the assets of main accounting companies and organizations.
· Often the giant Accounting Corporations have intensive analyses of FASB subjects. It is strongly advisable to develop into acquainted with these web sites. Sometimes they may also supply free webinars on FASB subjects.
· Put together an annotated bibliography. UMUC offers coaching on this subject: http://websites.umuc.edu/library/libhow/bibliography_tutorial.cfm
· Determine stakeholders and the affect of the proposed change on every of the stakeholders (remark letters might present good perception).
Deliverables
Write a five- to seven-page report (APA format, single spaced, commonplace report dimension, one-inch margins, and 12-pointfont) presenting the outcomes of your work. Submit your report, analysis log, and annotated bibliography by the due date, or as in any other case instructed. Cowl pages, summary/ government abstract, desk of content material in case you selected to embrace or bibliography / reference lists don’t rely towards web page rely.
Your subject and analysis plan have to be permitted prematurely by your professor in the dialogue for FASB challenge. The subject shouldn’t be a repeat of your prior work.
Format
Submit your report and annotated bibliography as a Phrase doc. The analysis tracker could be in both Phrase or Excel.
Grading
The written communication facet of this task is weighted at 50 p.c of the whole task. The grading can be allotted equally in the following areas:
· task administration
· group and construction
· proof and arguments
· readability, model, and mechanics
· presentation
· info literacy and analysis
The annotated bibliography is graded individually from the analysis tracker.
Pattern Analysis Tracker
The analysis tracker needs to be a columnar doc. Omit the phrase “pattern” in your precise submission. Examples are supplied under.
(1)
No.
Date
Question Assignment Pursuing, Data Sought, Rationale for Search
Instrument or Supply Used
Ideas or Key phrases, Phrases, Phrases
Search Technique
Outcomes
Resolution, Motion, Subsequent Step
1
(2) One other instance of a pattern analysis tracker:
Matter/Key Ideas
Sources Consulted
Search Phrases Used
Outcomes/Feedback/Notes
Instance: Distance studying and adults Distance schooling, distance studying, grownup college students
Library catalog
Distance AND (schooling OR studying) AND adults
E-World: digital studying, collaborative environments, and future applied sciences; edited by Doris Christopher, Nationwide Enterprise Schooling Affiliation, 2004 Checked out; requested by way of catalog 7/25
(three) Lastly, a “filled-in” pattern analysis tracker:
#
Date
Question Assignment Pursuing, Data Sought, Rationale for Search
Instrument or Supply Used
Ideas or Key phrases, Phrases, Phrases
Search Technique
Outcomes
Resolution, Motion, Subsequent Step
1
10/23
Background info
Common encyclopedias (library reference part)
tv, violence
Discovered largely normal info on “tv.” Discovered one small article in Encyclopedia Americana on “Violence in Tv.”
Want extra background information? Will examine different reference books.
2
10/23
Extra background info
Regarded in Encyclopedia of Tv (REF PN 1992.18 .E53 1997)
violence
Discovered a small article on “Violence in Tv” (web page 1769 – quantity three). Described correlation between tv violence and later conduct.
Have determined to give attention to relationship between tv violence and human conduct. Will examine for books in on-line catalog.
three
10/23
Description of human conduct
Regarded in Delhi On-line Catalog
human conduct
Key phrase search
Discovered loads of good normal books on human conduct, together with The Profitable Edge by Andrew J. DuBrin.
Will focus extra. Will strive “tv” and “violence.”
four
10/23
Delhi On-line Catalog
Regarded beneath “tv” and “violence.”
Discovered an excellent e book titled “Violence in the Media” by James D. Torr (CIRC P96.V5 V563 2001).
Will take notes from books.
5
10/27
Want to slim focus much more with journal or journal articles.
Used InfoTrac
Tried “tv and human conduct.”
Key phrase search
Did not discover a lot.
Will strive different, broader key phrases.
6
10/27
Used InfoTrac
Tried “tv and conduct.”
Key phrase search
Discovered approach too many irrelevant articles!
Will strive one other key phrase: “violence.”
7
10/27
Used InfoTrac
Tried “tv violence and conduct.”
Key phrase search
Discovered a number of superb current articles, together with “Aggressive response to TV violence tracks to maturity.” Sally Koch Kubetin. Pediatric Information, Might 2003, v37 i5 p23.
Will print out and evaluate articles, and take notes.
eight
11/03
Attempt to discover good Web pages to complement different info.
Used Google
Tried “tv violence and conduct.”
Fundamental search
Discovered a number of Web pages that regarded good. The primary one was titled “Violence on tv,”www.apa.org/pubinfo/violence.html. This Website is printed by the American Psychological Affiliation.
Will look at different Web pages and record findings.
Grading Rubric: Communication Assessment Instrument for ACCT
Undertaking Elements Being Assessed
Meets Expectations
Minimally Meets Expectations
Does Not Meet Expectations
Assessment and Feedback
Project Administration
The report addresses the task in a artistic/ modern approach. There is a transparent objective and sense of viewers; the report efficiently accommodates the viewers.
The report fulfills the task. There is an try at viewers lodging (in at the least three locations in the textual content).
The report doesn’t fulfill the task. There is no sense of viewers.
Group and Construction
The report develops a transparent, robust thesis and presents clear subject sentences. There is clear group at each the macro (total report—thesis, physique, conclusion) and micro (inside paragraphs—subject sentences, proof, Assessment) ranges. The author exhibits apparent management of the argument and has deliberate the order and technique of offering info to the reader.
The report does a ample job of creating and following the thesis. There are at the least two subject sentences. There is a slight drawback in group at both the macro or micro degree; nonetheless, the reader can nonetheless comply with the argument, and paragraphs are unified round a central thought. At occasions, the argument doesn’t seem to have a transparent path.
The report lacks organizational construction. There are few subject sentences, and paragraphs don’t at all times heart on one controlling thought. The order of proof seems random, and proof is not offered to the reader in a logical trend. It is tough to comply with the argument.
Proof/ Arguments
The report comprises a transparent, particular, and debatable thesis. The proof offered is logically sound, contextualized, and appropriately researched and supported, and is synthesized with the author’s personal argument. The Assessment is refined and considers different views. All exterior info is appropriately attributed; documentation kinds are utilized precisely and constantly for in-text and bibliographic references.
The report comprises a controlling thought, though not a clearly articulated thesis. Proof is offered, however could also be predictable. There is indication of analysis, however that analysis is probably not totally synthesized inside the argument, or the report might lack full Assessment of proof and full consideration of various views. In-text and bibliographic references are supplied, and documentation kinds are utilized, however not precisely or constantly.
The report doesn’t comprise a thesis. The report comprises a number of (at the least three) logical fallacies. The report comprises irrelevant help, and there is inadequate Assessment and/or depth of Assessment. The report doesn’t comprise analysis and/or doesn’t adequately cite that analysis.
Readability, Model, Mechanics
The tone and model are acceptable for the viewers. There are not any proofreading or grammatical errors. Sentence construction and diction are efficient and numerous.
For the most half, tone and model are acceptable for the viewers. There are proofreading and/or grammatical errors; nonetheless, the errors don’t detract from the readability of the report. Sentence construction could also be inflexible and unvarying.
Tone and/or model aren’t acceptable for the viewers. Proofreading and/or grammatical errors detract from the readability of the report. There are main issues in sentence construction (run-ons, fragments).
Presentation
Your presentation needs to be neat and skilled in look, doing justice to your ideas and content material.
A minimum of one of the necessities is not addressed in the presentation.
A couple of of the necessities is not addressed in the presentation.
Whole Assessment
Program Outcomes – Analysis —Data Literacy
As well as to assessing your efficiency on this course, this task can be used to assess the accounting program’s achievement of program outcomes for the Data Literacy and Analysis studying areas as described in the college’s Program Assessment Plan.
Data Literacy and Analysis is outlined as follows: show a capability to use libraries and different info assets to successfully find, choose, and consider wanted info. The accounting program outcomes are outlined as the means to analysis accounting info to clear up enterprise issues and improve choice making.
Studying Goal: Display the means to use educational and skilled databases to analysis and help suggestions on rising accounting points.
Grading Rubric for FASB Ongoing Undertaking: ACCT Analysis Assessment Instrument
Undertaking Elements Being Assessed
Meets Expectations
Minimally Meets Expectations
Does Not Meet Expectations
Remaining Pupil Assessment
Analysis Log
Assessment and Feedback
Your analysis log have to be accomplished utilizing the Pattern Analysis Tracker. Necessities: Log makes use of at the least three totally different databases in the UMUC library; consults at the least 5 totally different sources, at the least two from scholarly or commerce journals; offers proof of efficient use of analysis strategies; feedback present Assessment in analysis of assets.
The analysis log considerably meets all of the necessities listed.
A minimum of one of the necessities included on the record is not addressed in the analysis log.
A couple of of the necessities is not addressed in the analysis log.
Annotated Bibliography
Meets Expectations
Minimally Meets Expectations
Does Not Meet Expectations
Remaining Pupil Assessment
Your annotated bibliography have to be full and ready in good type. Necessities: Sources are cited in acceptable (MLA or APA, as directed by teacher) model; annotation contains helpful feedback on the credentials of authors and reliability of sources; sources cited are related to the analysis challenge and are included in your analysis log.
The annotated bibliography considerably meets all of the necessities listed.
A minimum of one of the necessities included on the record is not addressed in the annotated bibliography.
The annotated bibliography is lacking multiple of the standards listed.
Report
Meets Expectations
Minimally Meets Expectations
Does Not Meet Expectations
Remaining Pupil Assessment
Your report ought to current the outcomes of your analysis. Necessities: Report is college-level writing, with acceptable format (font, margins, and many others.), correct grammar and punctuation, coherent and well-structured sentences and paragraphs, and acceptable use of accounting terminology; content material features a dialogue of the proposed change, an precise case and the affect of the proposed change on that case, and stakeholder Assessment.
The report considerably meets all of the necessities listed.
The report comprises some grammar and/or punctuation errors, and/or some awkward construction; content material addresses every requirement, however Assessment is weak.
The report comprises a number of grammar and/or punctuation errors and/or is incessantly awkward in sentence and paragraph construction; content material doesn’t handle every requirement, and/or there is little to no Assessment.
Whole Assessment and Feedback
Grading Rubric: Vital Pondering Assessment Instrument for ACCT
Undertaking Elements Being Assessed
Meets Expectations
Minimally Meets Expectations
Does Not Meet Expectations
Assessment and Feedback
Project Administration
The report addresses the task in a artistic/modern approach.
The report fulfills the task.
The report doesn’t fulfill the task.
Assessment and Synthesis of Concepts
The report demonstrates refined use of Assessment/synthesis of concepts and proof.
The report exhibits proof of analytic/artificial reasoning and/or analysis of concepts as acceptable.
The report uncritically accepts concepts and proof.
Correct Identification of Issues to Be Solved
The report exhibits understanding of the nature of the drawback or problem to be confirmed.
The report identifies the drawback or problem to be mentioned or confirmed.
The report doesn’t correctly determine the drawback or problem to be mentioned or confirmed.
Assessment of Correctness (Fact or Falsity) of a Proposition, Thought, or Idea
The report persuasively demonstrates the reality or falsity of propositions, concepts, or ideas.
The report makes an attempt to verify the correctness of propositions, concepts, or ideas by providing justification, proof, or proof.
The report takes propositions, concepts, or ideas at face worth with out justification, proof, or proof.
Marshalling Proof and/or Argumentation to Help That View
The report conclusively argues/paperwork some extent of view.
The report helps opinions with argument, proof, or proof.
The report provides unsupported or irrelevant opinions.
Consideration and Analysis of Options
The report considers alternate options and exhibits how and why they need to/shouldn’t be accepted.
The report considers alternate options however doesn’t get rid of them.
The report doesn’t take into account alternate options.
Arrival at a Supported Conclusion
The report states a transparent conclusion (and alternate options if justified).
The report demonstrates consciousness of a conclusion to be drawn concerning the problem at hand.
The report fails to draw or state a conclusion concerning the problem at hand.
Presentation and Responses Meet Expectations for Communication in Type, Model, and Grammar
The report considerably meets all necessities.
The report minimally meets most necessities.
The report doesn’t meet expectations in multiple of the necessities.
Whole Assessment and Feedback
