Question: Accounting method assignment need help. Methods of Reporting Refer to the diagram on page 57 ofIntermediate Accounting, Concepts Statement No. 5, and the AICPA website.

Accounting method assignment need help.

Methods of Reporting

Refer to the diagram on page 57 ofIntermediate Accounting, Concepts Statement No. 5, and the AICPA website. On the FASB website, locate Concepts Statement No. 5 by clicking the "Standards" tab, then "Concepts Statements," and finally "Concepts Statement No. 5."

In an essay (of at least 250 words), address the following questions:

What method of reporting is prescribed in Concept Statement No. 5?
What additional information for users do the notes to the financial statements provide, that is not provided in the financial statements?

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