To develop the project, you will select the financial statements of a company using the EDGAR database (http://www.sec.gov/edgar.shtml). You will use the FASB coding system to investigate proposed accounting standards for the current year or for the previous year (liabilities and capital - only those referring to transactions). Then you will create financial accounting information, through Excel, where the proposed standards are applied, FASB, in the company you have chosen. COURSE OBJECTIVES COVERED: 1,2,3,4 This project is divided into four (4) parts with one (1) part each week of the course. Using book readings, technology, literature research, and other sources do the following: PROJECT REQUIREMENTS: PART 1- Week 1: Using Edgar locate the 10K Report for the year ending December 31, 2021 (Annual Report 2021) for the following company assigned according to the first letter of his first last name.

If the first letter of your last name is between M and Z, look up the American Airlines 10K for the year ending December 31, 2021 REQUIRED: Go to the FASB Codification, and locate the original document of ASU 2021-10 (GOVERNMENT ASSISTANCE) in the menu on the left, section OTHER SOURCES: Accounting Standards Updates and answer the following questions: 1. Why is the FASB issuing this accounting standards update (update)? 2. Who is affected by the amendments in this update? 3. Summarize the main provisions or changes of the update. 4. Look in the assigned company's (American Airlines) 10-K or annual report notes and summarize how the company complied with the provisions of ASU 2021-10. What kind of quantitative information was disclosed? What debt or equity accounts were affected?