This course explores current issues within the field of financial reporting by examining recent pronouncements from the Financial Accounting Standards Board (FASB), and how those pronouncements will affect financial reporting.
For information regarding prerequisites for this course, please refer to the Academic Course Catalog.
The accounting issues associated with U.S. financial reporting are continually changing and complex. Students need to be able to research and communicate authority for current issues to users of financial information to help with decision-making.
Measurable Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Evaluate the issues related to the regulation of external financial reporting.
- Research different theories of accounting.
- Analyze the impact recently issued accounting standards have on an organization’s financial reporting practices.
- Evaluate controversial accounting issues, alternatives, and solutions in light of a biblical worldview.
Textbook readings, PowerPoint, and FASB pronouncements
Course Requirements Checklist
After reading the Course Syllabus and Student Expectations, the student will complete the related checklist found in the Course Overview.
Discussions are collaborative learning experiences. Therefore, the student is required to provide a thread in response to the provided prompt for each Discussion. Each thread must be at least 400 words and demonstrate course-related knowledge. In addition to the thread, the student is required to reply to 2 other classmates’ threads. Each reply must be at least 250 words.
Quiz: Individual Research Project: Organization Selection
In this assignment, the student will select a publicly held U.S. company that reports to the SEC for your individual research project and complete the essay question with the required components. The organization needs to have inventory on the balance sheet. Complete a review of the financials and following disclosures from the company’s latest 10K.
Individual Research Project: Outline and Annotated Bibliography Assignment
In this assignment, the student will develop an outline and annotated bibliography for the Individual Research Project: Paper Assignment. The assignment must be written in current APA format and include at least 3 peer-reviewed sources related to your approved topic.
Individual Research Project: Paper Assignment
The student will write a 12–15-page research-based paper in current APA format examining the impact of new U.S accountant standards on a recent 10K of a U.S. publicly traded company that uses U.S. GAAP for financial reporting.
The paper must include at least 5 references in addition to the course textbook and the Bible.
Individual Research Project: Presentation Assignment
Each student will create a PowerPoint presentation with voiceover as the final part of the individual learning project. The voiceover will be the narrative you would present to your instructor and peers.