1. The accounting for assets, both current and long-term, has changed significantly since the inception of the FASB. Discuss some of the primary changes in the accounting (measurement and reporting) for assets that the FASB has implemented.
2. The accounting for liabilities, both current and long-term, and equity has changed significantly since the inception of the FASB. Discuss some of the primary changes in the accounting (measurement and reporting) for liabilities and equity that the FASB has implemented.
3. Discuss the current state of accounting for leases, the strengths and weaknesses, and where improvement can be made. Be sure to discuss the off-balance sheet financing nature of operating leases.
4. Discuss the theories of equity on pages 483 - 488. You do not have to discuss all of them. Be sure to include in your discussion which theory you believe best meets the theory of equity.
5. The text authors point out that "accounting for income taxes has been a controversial financial accounting topic for many years." Discuss the (1) controversies, (2) the resolutions, and (3) any unresolved or questionable areas related to the accounting for income taxes.