Question: Using the AICPA Code of Professional Conduct as a reference, what is covered in these standards that relate to the preparation of financial standards? Do

Using the AICPA Code of Professional Conduct as a reference, what is covered in these standards that relate to the preparation of financial standards? Do you think these standards are exhaustive or do you think they need an update?

Using FASB encoding as a source, how are profit and loss contingencies recorded? Do you agree with this treatment or would you suggest some other way to record these transactions?

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