asc

Navigate to the website of Accounting Standards Codification at http://asc.fasb.org. If you have not used the site in the past, you will need to create an account (this is a free account and should only take a couple of minutes to setup). As you create the account you want to be sure that you create the free account using the Basic View.

After creating your account, use the Master Glossary to define the following terms:

• Raised Animals
• Warrant
• Gain Contingency
• Valuation Allowance
• Lease

In addition to defining the terms, provide three reasons how this site would be useful to a practitioner.