Assignment
Throughout your studies, you have heard of the "big names" of the organizations that impact accounting. But what do they really do? How do you know what the hot topics are? How are they influenced? What do they have to do with the financial reports you have been studying all quarter? How could this impact how financial reports are produced? For example, consider how a change in the way leases are recognized may impact the liabilities on a balance sheet and expenses on an income statement (which would then impact owner's equity). For Project, select two of the organizations below and write a 2-3 page paper in which you:
FASB PCAOB GASB SEC COSO IFRS AICPA IMA IIA FEI
Briefly explain the mission or focus of the two organizations you selected and cite at least two sources for your information. Note: Wikipedia and similar websites do not qualify as appropriate sources. It is recommended that you refer to the organization's websites or excerpts from their established publications.
• Select a topic that one of the organizations is currently focused on, or one that they consider a pressing issue or "hot topic."
• Summarize what the organization you selected is doing to address the issue you identified.
• Explain how the issue you identified impacts how financial reports are produced.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.