1. Discuss five factors that may be employed to determine if a particular financial instrument is a debt or equity security.
2. What is the basic assumption of agency theory? Why is the relationship between shareholders and management an agency relationship?
3. Discuss the framework for analysis that may be used in the resolution of ethical dilemmas
4. Discuss the general purposes of The Securities Act of 1933, The Securities Exchange Act of 19, and The Foreign Corrupt Practices Act of 1977.
5. Discuss accounting for investments in debt securities.
6. Discuss the entity and parent company theories of consolidation.
7. What is the purpose of the conceptual framework?
8. What is goodwill? How is goodwill written off under the provisions of SFAS No. 142 now FASB ASC 350?
9. What are accounting changes and why is it an issue. Describe the three types of accounting change
10. Discuss the IASB-FASB Norwalk agreement. Discuss how the FASB and the IASC acted to improve comparability under the Norwalk Agreement.
11. Discuss DR Scott's hierarchy of postulates and principles.
12. Discuss the use of the fair value option originally described in SFAS No. 159 now contained at FASB ASC 825-10.
13. Discuss the concept of simple vs. complex capital structures and how it relates to the reporting of earnings per share.