Problem
To develop the project, you will select the financial statements of a company using the EDGAR database (https://www.sec.gov/edgar.shtml).
You will use the FASB coding system to research proposed accounting standards for the current year or for the previous year (liabilities and capital - only those referring to transactions).
You will then create financial accounting information, through Excel, where the proposed standards are applied, FASB, in the company you chose.
Using Edgar locate the 10K Report for the year ending December 31, 2021 (Annual Report 2021) for the following company assigned according to the first letter of their first last name.
Look up the American Airlines 10K for the year ending December 31, 2021
Look in the notes of the assigned company (JetBlue Airways or American Airlines) annual report or 10-K and summarize how the company complied with the provisions of ASU 2021-
What kind of quantitative information was disclosed? What debt or equity accounts were affected?