Identify the appropriate research questions Identify key search terms Search through electronic data to find required information to reach conclusions or make decisions Identify the appropriate...

1. 
   Identify the appropriate research questions
   


2. 
   Identify key search terms
   


3. 
   Search through electronic data to find required information to reach conclusions or make decisions
   


4. 
   Identify the appropriate authoritative guidance in applicable financial reporting frameworks and auditing standards for the accounting issue being evaluated
   


5. 
   Devise and implement a plan of action appropriate for a given problem
   


6. 
   Apply professional skepticism, which is an attitude that includes a questioning mind and a critical assessment of information or evidence obtained
   


7. 
   Develop logical conclusions through the use of inductive and deductive reasoning
   


8. 
   Apply knowledge of professional standards and laws, as well as legal, ethical, and regulatory issues
   

Communicate Results of Research:

1. 
   Apply effective writing principles, including organization, clarity, and conciseness
   


2. 
   Prepare documents and presentations that are concise, accurate, and supportive of the subject matter
   

Instruction for doing this assignment : Perform Research: 1. Identify the appropriate research questions 2. Identify key search terms 3. Search through electronic data to find required information to reach conclusions or make decisions 4. Identify the appropriate authoritative guidance in applicable financial reporting frameworks and auditing standards for the accounting issue being evaluated 5. Devise and implement a plan of action appropriate for a given problem 6. Apply professional skepticism, which is an attitude that includes a questioning mind and a critical assessment of information or evidence obtained 7. Develop logical conclusions through the use of inductive and deductive reasoning 8. Apply knowledge of professional standards and laws, as well as legal, ethical, and regulatory issues Communicate Results of Research: 1. Apply effective writing principles, including organization, clarity, and conciseness 2. Prepare documents and presentations that are concise, accurate, and supportive of the subject matter Our Focused is on Part 1 it is fiction case that is 35 points. Part 1 - 35  Points (This case is 3.9 on Page 77 of Collins) Complete Case 3.9 on page 77 of Collins.  Instead of preparing Power Point slides, prepare a two - three page doc, docx, or rtf file that addresses the 4 items.  Do not use a case that has been presented in the Collins or Weirich text. This includes any cases discussed in the narrative of the chapter. Do not create a case regarding leases.  If you create a revenue recognition case, base it on the pending (new) GAAP. Prepare a case that has substance. (25 points) In addition, include one to two pages that discuss (1) why you chose this type of financial accounting research issue and how you navigated the ASC, as well as any nonauthoritative resources, to find the tenable conclusion. Be thorough with your answer.(10 pts) Attach one doc, docx, or rtf f ile in this area.  Do not attach a separate file for each of the 2 requirements. You Create the Case (Applying the Accounting Research Process) On your own, create a fictitious fact pattern (accounting problem/business issue) to which you can apply the accounting research process. If you are able, use a fact pattern based on a real situation that you’ve encountered professionally (such as from a work experience or an internship). That is, think back to an accounting question that required some thought or discussion. Alternatively, consider the following sources to generate ideas for fact patterns: (1) The Codification: browse for ideas of topics or examples that you can use to “back into” a fact pattern; (2) Recent business news articles, such as from the Wall Street Journal; (3) A situation a parent or small-business owner you know has encountered; or (4) Corporate annual reports, for ideas of transactions/events. For this fact pattern, create four PowerPoint slides to share with your class: 1. The first should show only the fact pattern you created, including discussion of all relevant facts necessary to understand the issue. Next, describe any industry-specific guidance you might consult for background on the company’s business. 2. The second should include a researchable question for this fact pattern (identify at least one). On the same slide, brainstorm the likely answer to the question. 3. The third slide should provide the applicable Codification reference (identify just one or two key paragraph(s)), alternatives considered (if any), and discussion of the process you used to research this issue using the Codification. Consider this step a journal of your research actions, including a description of the method you used to find this guidance (search or browse path), dead ends you found, etc. 4. The fourth slide should include a brief statement of your conclusion. Alternatively, your instructor may ask you to respond to this case study in the form of a one- or two-page written documen Below is the Case 3.9 on page 77 You Create the Case (Applying the Accounting Research Process) On your own, create a fictitious fact pattern (accounting problem/business issue) to which you can apply the accounting research process. If you are able, use a fact pattern based on a real situation that you’ve encountered professionally (such as from a work experience or an internship). That is, think back to an accounting question that required some thought or discussion. Alternatively, consider the following sources to generate ideas for fact patterns: (1) The Codification: browse for ideas of topics or examples that you can use to “back into” a fact pattern; (2) Recent business news articles, such as from the Wall Street Journal; (3) A situation a parent or small-business owner you know has encountered; or (4) Corporate annual reports, for ideas of transactions/events. 1. The first should show only the fact pattern you created, including discussion of all relevant facts necessary to understand the issue. Next, describe any industry-specific guidance you might consult for background on the company’s business. 2. The second should include a researchable question for this fact pattern (identify at least one). On the same slide, brainstorm the likely answer to the question. 3. The third slide should provide the applicable Codification reference (identify just one or two key paragraph(s)), alternatives considered (if any), and discussion of the process you used to research this issue using the Codification. Consider this step a journal of your research actions, including a description of the method you used to find this guidance (search or browse path), dead ends you found, etc. 4. The fourth slide should include a brief statement of your conclusion. Alternatively, your instructor may ask you to respond to this case study in the form of a one- or two-page written document.