Search for a current event in the Journal of Accountancy and find one that involves accounting misstatements
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Question:
Search for a current event in the Journal of Accountancy and find one that involves accounting misstatements or fraud related to a publicly traded company of your choice. Locate two or three corroborating news reports on this same company from other websites. The event should contain at least three of the following features:
- The company's theoretical structure of accounting
- Revenue recognition and profitability
- Economic resources
- Financial instruments and liabilities
- U.S. Generally Accepted Accounting Standards (GAAP)
- Financial reporting
After identifying your current event, visit the SEC website and locate the company's most recent Form 10K filing. Then, complete the following:
- Provide an overview of the case based on your findings.
- Thoroughly research your topic or issue to identify trends, examine accounting principles and standards (including those from the FASB and IASB), make judgments, and offer recommendations or solutions.
- Be sure to explore diversity and ethics related to your topic or subject.
- Assess why this particular company is of interest to you and why other accountants should also share similar concerns.
- Review the company's SEC Form 10-K filings. What do financial ratios tell you about the health of the company?
- Where applicable, include domestic or international accounting standards related to notable issues.
- In the conclusion of the paper, express your opinion of the outlook for the company.
- What are your recommendations for investing in this company?
Demonstrate thoughtful consideration of the ideas and concepts presented and provide new thoughts and insights relating directly to this topic.
Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
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