Not Apa Week 1 Acc/537 Paper

Topic 1: Identify and describe the sources of primarily veritable account statement principles. Identify source hierarchy and explain wherefore the hierarchy is important. Generally accepted business relationship principles sources are monetary Accounting Standards Board (FASB) standards, interpretations, and staff positions, Accounting Principles Board (APB) opinions, and the American Institute of Certified Public Accountants (AICPA) Bulletins. These entities throughout the history of write up have been created or asked to generate accounting principles by the Securities and supplant Commission (SEC). The AICPA is the national professional organization and created the APB to improve create verbally accounting principles, get hold appropriate practices, and decrease inconsistencies in accounting practice. The FSAB is the newest standard-setting entity with a multi-part structure. It was created to be an improvement over the APB.   The hierarchy of generally accepted accounting principles currently has four categories. form A is the first and has the greatest authority with each category beneath having less authority on down through category D with the least. Category A consists of FASB standards, interpretations, and staff positions, APB opinions, and AICPA accounting interrogation bulletins.

Category B consists of FASB technical bulletins and AICPA audit and accounting guides and statements of position. Category C consists of FASB emerging issues task force and AICPA Accounting Standards administrator Committee (AcSEC) practice bulletins. Category D consists of AICPA accounting interpretations, FASB carrying into action guides, and widely recognized and prevalent industry practices. As CPAs, we leave use the hierarchy of generally accepted accounting principles to determine the appropriate methods for preparing financial statements. Topic 2: Describe effective accounting information, using the qualities of accounting information from your readings this week. Effective accounting information has... If you want to get a full essay, target it on our website: Orderessay

If you want to get a full essay, wisit our page: write my essay .