Need suggestions on specific Accounting Reporting Criteria.

Question

I am in the process of writing an essay in regards to the accounting reporting criteria. I need some suggestions for the sub topics. Our instructor has given us a few examples as listed below, but I would like 3-4 more to chose from. Please provide 3-4 detailed accounting reporting criteria suggestions (besides the ones already given below). Thanks!

Prepare a 700-1,050-word paper, in which you compare and contrast the accounting reporting criteria (regulatory environment, issues with foreign currency, differences in GAAP, etc.) of a U.S. company with a foreign company.

Answer 1

I can give you one suggestion.  Take a look at SFAS 141 and 141(R) and compare it to what the international standards are.  141 and its revision (which has an effective date of 12/15/2008) were written to get the US GAAP closer to international GAAP.  Google or Yahoo search on SFAS 141 and you should get enough to get started.  Also download the statements from www.fasb.org, on the left hand side, click on Pronouncements and EITF Abstracts, then scroll down until you see "View FASB Pronouncements

Issued since the FASB's inception in 1973"

and

"Statements of Financial Accounting Standards"

Scroll down until you get to Statement No. 141 (revised 2007)

Business Combinations

(Issue Date 12/07)

[As Issued] [Summary] [Status]

Read the appendices - they explain why the change occurred.

Good luck.