Acct440

ACCT440

Week 3 Assignment

Please answer the questions below. See the Syllabus for due date information.

1. Answer the following questions with information you learned from your textbook and through internet research.

a. Why was codification needed?

b. What is the goal of codification?

c. What authoritative literature does the codification supersede?

d. How is the codification structured? Include as discussion of the topic, subtopics, sections, and subsections in your answer.

e. Describe the numerical indexing system.

f. What is a landing page?

g. What is the difference between the “general topics landing page,” the “industry topics landing page,” and the “subtopics landing page?”

2. Log into the codification database and perform a search on the following terms and answer the related questions.

a. Warranty expense

i. How many results did you get?

ii. Click on 605 Revenue Recognition > 20 Services > 25 Recognition and summarize what is said in subsection 25-3.

b. Property, Plant, and Equipment

i. How many results did you get?

ii. Click on 360 Property, Plant, and Equipment > 10 Overall > S50 Disclosure and summarize what is said in subsection S50-1.

Word document (double-spaced, 12-point font) with proper citations. You should have a separate labeled paragraph to address each question.

Should be critiqued based on accounting laws