Accounting Assignment 5 pages

ACCT 372 Spring 2019 Project

Access to the FASB codification system:

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

Student Access

AAA52067 S6P6TVn

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:

1. Definitions: 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. • (a)What is the definition of Cash? • (b)What is the definition of Cash Equivalents? • (c)What is the definition of Receivables?

2. Research Note disclosure of Cash flows:

(Hint: look at Concept Statement 8, Chapter 8)

(a) Provide the definition of cash flow. (b) In your own words: Briefly discuss the impact of cash flows on assets and liabilities (c) In your own words: What type of events that effect an entity’s cash flow require disclosure? Give several examples.

3. Research Transfer of Receivables Search the codification for information. In your own words, discuss the following: (a) Identify relevant Codification section that addresses transfers of receivables. (b) Provide definitions for the following: • 1.Transfer. • 2.Recourse. • 3.Collateral. (c) Provide other examples (besides recourse and collateral) that qualify as continuing involvement. 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 3-6 pages, double spaced, Arial 12-point font.