Assignment:
Introduction:
The application of accounting research is a necessity for sitting for the CPA exam and success in the accounting profession.The skills required for accounting research include the following: understanding how to research a variety of different types of sources, applying the crucial steps of researching, and understanding how to communicate your findings with your peers in a professional manner. Additionally, it is important to understand and apply critical thinking techniques, as well as assessing accounting issues.
Requirements:
A. Research the importance of the timing of the recognition of revenue using at least six sources, at least two of which should be peer-reviewed articles and at least two of which should be reports from the following accounting resources:
Accounting Principle Board Opinions
Technical Bulletins
Position Statements of Financial Accounting
Accounting Research Bulletins
Emerging Issues Task Force (EITF) minutes
American Institute of CPAs: AICPA.org
Financial Accounting Standards Board: FASB.org
International Financial Reporting Standards: IFRS.org
International Accounting Standards Board: ISAB.org
Securities and Exchange Commission: SEC.org
KPMG International: KPMG.com
PwC: PWC.com
1. Provide a reference list in APA format for all the sources you used in part A and any other references you used in the task, including at least six sources, at least two of which are peer-reviewed articles and at least two of which are reports from the given accounting resources.
B. Write an essay (suggested length of 4 pages) on the importance of the timing of the recognition of revenue that is based on your research from part A by doing the following:
1. Introduce the issues around the importance of the recognition of revenue.
2. Summarize your position regarding the timing of the recognition of revenue.
3. Evaluate the evidence collected, including one alternative solution to recognize revenue.
4. Develop a conclusion in which you defend your position from part B2.
C. Write a professional letter (suggested length of 1 page) to your manager in which you communicate the results of your findings.
Note: When using sources to support ideas and elements in an assessment, the submission MUST include APA formatted in-text citations with a corresponding reference list for any direct quotes or paraphrasing. It is not necessary to list sources that were consulted if they have not been quoted or paraphrased in the text of the assessment.
Note: No more than a combined total of 30% of a submission can be directly quoted or closely paraphrased from outside sources, even if cited correctly. For tips on using APA style, please refer to the APA Handout web link included in the APA Guidelines section.