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ACC 563 WEEK 4 ASSIGNMENT 1
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Assignment 1: Research of Emerging Accounting Issues
For this assignment, you will need to go to the FASB Website and review the issue that the Emerging
Issues Task Force (EITF) is working on at
http://www.fasb.org/jsp/FASB/Page/SectionPage&cid=1218220137528. From the current issues
described on the Website, you will need to select an issue of interest to you and identify it for the
Write a six to eight (6-8) page paper in which you:
1. Research the role of the Emerging Issues Task Force (EITF) as it relates to the Financial Accounting
Standards Board (FASB). Evaluate its effectiveness with finding resolutions to emerging accounting
2. Research the emerging issue you selected from the EITF’s current issues page and evaluate the key
areas being addressed by the EITF.
3. Assess how a company’s accounting and financial reporting is likely to be impacted by the work being
done by the EITF on this issue.
4. Create a response to the EITF recommendation on the issue that you would submit during the public
5. Evaluate the difference in accounting treatment between GAAP and IFRS in this area and how the
exposure draft recommendation may impact these differences.
6. Predict the role of the EITF should the accounting professional adopt one (1) global set of accounting
7. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other
Websites do not qualify as academic resources.