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ACCT/495 ACCT495 ACCT 495 Assignment 2-1

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ACCT 495 Assignment 2-1: Issue and Rule Research – Year One 30 points Purpose To assess your ability to research accounting issues and rules related to a start-up company. Action Items 1. Reflect upon each of the issues identified in Week 1 Auditor’s Questions with your group. 2. Research all identified issues except start-up costs since this is covered in 3-1: Year One Group Paper with your group members. 3. Assign an issue or issues to each member of your group to research. 4. Develop a 1 – 2 page, double-spaced paper for each issue that does the following: o States the identified accounting issue o Identifies the accounting rule(s) that pertain to the issue o Explains in your own words the accounting rule(s) and treatment of the issue 5. Instructions to access the RIA Checkpoint and the FASB Accounting Standards Codification databases. Accounting research data can be accessed either through the: a. RIA Checkpoint database – Practice Area: Accounting, Audit and Corporate Finance located on the Franklin library website or through the b. American Accounting Association (AAA) FASB Codification student login. Login information for the AAA website can be obtained from your professor. Please be sure to adhere to APA guidelines on this assignment. If you have questions regarding APA, please access theFranklin Style Manual. Review the six (6) steps utilized in applied accounting research. Note: This assignment will form the basis for the preparation of corrected financial statements the following week in 3-1: Year One Group Paper. This present assignment is necessary to form the “I” (Issues) and “R” (Research) needed for preparation of the “A” (Analysis) and “C” (Conclusion) that combine to form the IRAC methodology. Submission Instructions • Each group member will submit their 1-2 page paper(s) to the group designated leader for this assignment. • The group leader will submit one copy of the combined papers to each member of the group and one copy to the professor in class. • Each group member will retain a copy of the combined research paper for an in-class assignment. Grading Criteria • Completion of the assignment : 0 – 20 points • Participation in class discussions : 0 – 10 points

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