Resources: Brain Teaser 4: Cash Basis or Accrual Basis? in Ch. 4 of Mastery of the Financial Accounting Research System (FARS) Through Cases
Write a 350- to 500-word response to the questions that follow the case study.
Note. Although Brain Teaser 4 references the Financial Accounting Research System, refer to the Financial Accounting Standards Board when answering the questions.
Make sure on the individual assignment that you answer all the questions ask of the assignment. This week the focus is to understand what the FASB Codification System is and then to practice using it. For the Brain Teaser 4 assignment it will be very important to reference the particular source you used to respond to the question. I want this reference to be within the text of your response to the question. This week is very unique to being a research assignment and referencing your research. I will be very strict about this for this particular assignment because the purpose of the assignment is to practice researching topics. You may use sources outside of the FASB Codification System as well. Please let me know if you have any questions.
Below is an example of what I am expecting:
When did most not-for-profit organizations change from a cash or “modified cash” basis to accrual accounting?
Most not-for-profit organizations changed from a cash or “modified cash” basis to accrual accounting in the 1960s based on the FASB’s Statement of Financial Accounting Standards No. 93: Recognition of Depreciation by Not-for-Profit Organization according to FASB Online FASB codification system (2009-2012).
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