ACCT372

ACCT 372 Summer 2018 Project

Access to the FASB codification system:

http://www2.aaahq.org/ascLogin.cfm

Student Access

Login: AAA52067

Password: vD74DdM

Prepare and submit your solution

• Use Google Docs, Microsoft Word, or similar word processing software to prepare your solution.

• Use the PwC quick reference guide (see blackboard) to help you research: • Use the FASB Learning Guide (see Blackboard)

o This will be an invaluable resource when completing FASB Codification Research Projects.

o Format your answer for each question as indicated in the picture below. ▪ NOTE: When quoting wording from a "Section" (paragraph), this is

NOT original writing....copy/paste exact wording from the selected "Section" and paste into your answer.

• Example format for answer to each question -- Use this format when preparing answer to each question.

• Save your solution in Adobe Acrobat (.pdf) format. o NOTE: Google Docs includes a feature that allows you to save a

document in .pdf format. • Hand in your .pdf document through the Submit Assignments feature on the

Blackboard welcome screen.

ASSUGNMENT:

Topic: Current and Long-Term Assets and Liabilities

Learning Objectives:

1. Know the definitions of both current and long term assets and liabilities and how

the operating cycle affects the classification of assets and liabilities as current or

long term.

2. Know how to present current and long term assets and liabilities on a balance

sheet (statement of financial position) including required disclosures.

Required: Using the FASB Codification system as your primary source, research the

topics and present the results of your work, making sure to cite your sources properly.

You may use additional sources.

There is no minimum or maximum number of pages. Ideally your response will be in

essay form in 2-5 pages, double spaced, Arial 12-point font.