ACCT Project

ACCT 373 Winter 2019 Project

Access to the FASB codification system:

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

Student Access

AAA52067

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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.

Assignment: Look these up in the Codification, copy, and paste, be sure to reference your source. Feel free to add your own words in addition to the quotes from the codification. Your own examples are a good way to expand your reply in your own words. 1. Definitions: (a) What is the definition provided for an intangible asset? (b) What is the definition of goodwill? (c) What is the definition of research and development (R&D)? 2. Questions: In your own words: What does the authoritative literature say about indefinite-life intangible assets?, What does indefinite life mean, give examples. 3. Research:

In August 2018, FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-

Use Software (Subtopic 350-40) Customer’s Accounting for Implementation Costs

Incurred in a Cloud Computing Arrangement That Is a Service Contract.

Read the ASU, in 3 pages or less, 12 point Arial font, double spaced, discuss this

amendment to the codification, in your own words.

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.