Accounting

• Go to the Financial Accounting Standards Board (FASB) Website to review “Completed Projects by FASB,” located at http://www.fasb.org/cs/ContentServer?c=Page&pagename=FASB%2FPage%2FSectionPage&cid=1176156240004. Be prepared to discuss.

After going to the website and reading the following needs to be answered.

Accounting Projects Completed by FASB" Please respond to the following:

• From the e-Activity, compare one (1) recently completed project to the old accounting standard, and predict the fundamental way in which the new standard will improve financial reporting. Provide support for your rationale.
• From the e-Activity, recommend two (2) internal controls that you would implement to ensure that corporations follow the new standard that you had explored in Part 1 of this discussion if you were given complete authority in the matter. Justify your response.