accounting assigemrnt course scholar

Uncategorized

Assignment 2: Accounting for Private vs. Public Companies
Due Week 8 and worth 80 points
For Assignment 2, you will compare accounting principles for private and public companies. As you may have discovered as you’ve reviewed the materials for this course, most of what is learned in accounting courses focuses on public companies, not private ones. GAAP, as you have also learned from your studies, may be followed by private companies, but it is only required to be used by publicly traded companies. FASB, of course, is designated by the SEC to establish and improve GAAP, so their focus is primarily on publicly traded companies.
FASB has also recognized the importance and potential impact of private company financial statements. According to Forbes, out of the 5.7 million firms with employees in the United States, less than 1 percent have shares listed on a U.S. exchange. Although we tend to think of private companies as small companies, the reality is quite the opposite, with private firms accounting for 86.4 percent of U.S. firms with 500 or more employees.
In recognition of the growing importance and impact of private companies, FASB has come up with a useful publication – Private Company Decision-Making Framework, A Guide for Evaluating Financial Accounting and Reporting for Private Companies. You can access this document by clicking here.
In this guide, FASB identifies the following five Significant Differential Factors:

Number of primary users and their access to management
Investment strategies of primary users
Ownership and capital structure
Accounting resources
Learning about new financial reporting guidance
For Assignment 2, write a 2-to-4 page paper in which you:

Select two of the Differential Factors that interest you, and briefly explain why.
In your own words, explain the Factor and why it is different from a publicly traded company.
Identify the accounting risks associated with each of your chosen Factors. What would you recommend to minimize those risks?
Based on what you have learned this quarter, what components of the Balance Sheet have the most potential to be impacted by the Differential Factors you have chosen? Identify both positive and negative potential impacts.
This course requires use of Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
The specific course learning outcomes associated with this assignment are:
Evaluate the liabilities portion of a balance sheet, including current liabilities, contingencies, and long-term liabilities.
Assess GAAP, IFRS, and how to research utilizing the FASB Accounting Standards Codification
Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric.
By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign™ services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution’s policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates.

Turn in your highest-quality paper
Get a qualified writer to help you with

“ accounting assigemrnt course scholar ”

Get high-quality paper

NEW! AI matching with writer

Continue to order Get a quote

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.