In writing the paper you should consider and discuss at least five of the seven items listed below:
1) Whether the accounting treatment appropriately reflects the underlying economics of the transactions covered
2) Whether the accounting treatment is conservative, neutral, or aggressive
3) The usefulness of the information generated by the accounting treatment for various stakeholders
4) Whether the accounting treatment results in a verifiable number (a number that can be effectively audited or objectively confirmed by a third-party)
5) Other criteria of the FASB�s conceptual framework (to be covered briefly in class)
6) Ease of compliance and simplicity
7) The availability and quality of alternative accounting treatments
Wikipedia, is not an acceptable source. Keep in mind that the purpose of the paper is to clearly communicate YOUR views on the standard in question; this is not a fact-finding scavenger hunt and papers that simply regurgitate facts will not receive full credit. You should use appropriate grammar, spelling, punctuation etc., just as you would in a professional setting.
1. Introduction
a. Brief explanation of the accounting standard or treatment you�ve chosen to write about
b. Why you�ve chosen to write about it
c. How you approached the topic
d. What you learned/discovered/recommend
2. Address 1 of the 7 items from the syllabus.
a. How/why does the standard do well on the item?
b. How/why does the standard do poorly on the item?
c. Are there alternatives that would perform better?
3. Address another of the 7 items from the syllabus.
a. How/why does the standard do well on this item?
b. How/why does the standard do poorly on this item?
c. Are there alternatives that would perform better?
4. Repeat 2 and 3 as necessary
5. Summary and Conclusions
a. Summarize the good and the bad points of the standard.
b. Provide a conclusion.
i. Should the standard be retained or replaced?
1. Why?
ii. If the standard should be replaced, do you have or know of a standard that could do so?
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