Who has experience in Intermediate Accounting I?

Discussion Question:Accounting Projects Completed by FASB” Please respond to the following:From the e-Activity, compare one (1) recently completed project to the old accounting standard, and predict the fundamental way in which the new standard will improve financial reporting. Provide support for your rationale.From the e-Activity, recommend two (2) internal controls that you would implement to ensure that corporations follow the new standard that you had explored in Part 1 of this discussion if you were given complete authority in the matter. Justify your response.FASB Case:ASU 2016-01 ACCOUNTING FOR FINANCIAL INSTRUMENTS—RECOGNITION AND MEASUREMENT (SUBTOPIC 825-10)OverviewOn January 05, 2016, the FASB completed its Classification and Measurement of Financial Instruments project by issuing ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The new guidance improves certain aspects of recognition, measurement, presentation and disclosure of financial instruments. To that end, the new guidance will:Benefit users by providing a more relevant measurement attribute for equity investments through the requirement of equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income.Decrease complexity for preparers by replacing the challenging impairment model for equity investments without readily determinable fair values with a simpler qualitative impairment assessment.Provide more decision-useful information by allowing an entity to report the change in fair value of a liability, measured under the fair value option that is attributable to changes in instrument-specific credit risk, in other comprehensive income.Reduce costs for other than public business entities by eliminating the requirement to disclose the fair values of financial assets and financial liabilities measured at amortized cost.Increase comparability by reducing the diversity in applying the deferred tax asset guidance to available-for-sale debt securities.Create consistency in fair value disclosures by eliminating an entity’s ability to estimate the disclosed fair values of financial assets and financial liabilities on the basis of entry prices.The new guidance affects all reporting organizations (whether public or private) that hold financial assets or owe financial liabilities. Effective DatesFor public business entities, the new guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years.For all other entities (including not-for-profit organizations and employee benefit plans), the guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019.Early application of the guidance is permitted for all organizations that are not public business entities as of the fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Additionally, early application of the following provisions in the ASU is permitted for all entities as of the beginning of the fiscal year of adoption:The “own credit” provision, in which an organization should present separately in OCI the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk if the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments.The provision that exempts private companies and not-for profit organizations from the requirement to apply the fair value of financial instruments disclosure guidance.Except for the early application guidance discussed above, early adoption of the amendments in this ASU are not permitted. Additional InformationAccounting Standards UpdatePress ReleaseTo Learn MoreFASB In Focus—a brief overview of what this change means for financial reportingHave A Question?Submit questions about the new requirements using our Technical Inquiry System.

Don't use plagiarized sources. Get Your Custom Essay on
Who has experience in Intermediate Accounting I?
Just from $13/Page
Order Essay

What Will You Get?

We provide professional writing services to help you score straight A’s by submitting custom written assignments that mirror your guidelines.

Premium Quality

Get result-oriented writing and never worry about grades anymore. We follow the highest quality standards to make sure that you get perfect assignments.

Experienced Writers

Our writers have experience in dealing with papers of every educational level. You can surely rely on the expertise of our qualified professionals.

On-Time Delivery

Your deadline is our threshold for success and we take it very seriously. We make sure you receive your papers before your predefined time.

24/7 Customer Support

Someone from our customer support team is always here to respond to your questions. So, hit us up if you have got any ambiguity or concern.

Complete Confidentiality

Sit back and relax while we help you out with writing your papers. We have an ultimate policy for keeping your personal and order-related details a secret.

Authentic Sources

We assure you that your document will be thoroughly checked for plagiarism and grammatical errors as we use highly authentic and licit sources.

Moneyback Guarantee

Still reluctant about placing an order? Our 100% Moneyback Guarantee backs you up on rare occasions where you aren’t satisfied with the writing.

Order Tracking

You don’t have to wait for an update for hours; you can track the progress of your order any time you want. We share the status after each step.


Areas of Expertise

Although you can leverage our expertise for any writing task, we have a knack for creating flawless papers for the following document types.

Areas of Expertise

Although you can leverage our expertise for any writing task, we have a knack for creating flawless papers for the following document types.


Trusted Partner of 9650+ Students for Writing

From brainstorming your paper's outline to perfecting its grammar, we perform every step carefully to make your paper worthy of A grade.

Preferred Writer

Hire your preferred writer anytime. Simply specify if you want your preferred expert to write your paper and we’ll make that happen.

Grammar Check Report

Get an elaborate and authentic grammar check report with your work to have the grammar goodness sealed in your document.

One Page Summary

You can purchase this feature if you want our writers to sum up your paper in the form of a concise and well-articulated summary.

Plagiarism Report

You don’t have to worry about plagiarism anymore. Get a plagiarism report to certify the uniqueness of your work.

Free Features $66FREE

  • Most Qualified Writer $10FREE
  • Plagiarism Scan Report $10FREE
  • Unlimited Revisions $08FREE
  • Paper Formatting $05FREE
  • Cover Page $05FREE
  • Referencing & Bibliography $10FREE
  • Dedicated User Area $08FREE
  • 24/7 Order Tracking $05FREE
  • Periodic Email Alerts $05FREE

Our Services

Join us for the best experience while seeking writing assistance in your college life. A good grade is all you need to boost up your academic excellence and we are all about it.

  • On-time Delivery
  • 24/7 Order Tracking
  • Access to Authentic Sources
Academic Writing

We create perfect papers according to the guidelines.

Professional Editing

We seamlessly edit out errors from your papers.

Thorough Proofreading

We thoroughly read your final draft to identify errors.


Delegate Your Challenging Writing Tasks to Experienced Professionals

Work with ultimate peace of mind because we ensure that your academic work is our responsibility and your grades are a top concern for us!

Check Out Our Sample Work

Dedication. Quality. Commitment. Punctuality

All samples
Essay (any type)
Essay (any type)
The Value of a Nursing Degree
Undergrad. (yrs 3-4)
View this sample

It May Not Be Much, but It’s Honest Work!

Here is what we have achieved so far. These numbers are evidence that we go the extra mile to make your college journey successful.


Happy Clients


Words Written This Week


Ongoing Orders


Customer Satisfaction Rate

Process as Fine as Brewed Coffee

We have the most intuitive and minimalistic process so that you can easily place an order. Just follow a few steps to unlock success.

See How We Helped 9000+ Students Achieve Success


We Analyze Your Problem and Offer Customized Writing

We understand your guidelines first before delivering any writing service. You can discuss your writing needs and we will have them evaluated by our dedicated team.

  • Clear elicitation of your requirements.
  • Customized writing as per your needs.

We Mirror Your Guidelines to Deliver Quality Services

We write your papers in a standardized way. We complete your work in such a way that it turns out to be a perfect description of your guidelines.

  • Proactive analysis of your writing.
  • Active communication to understand requirements.

We Handle Your Writing Tasks to Ensure Excellent Grades

We promise you excellent grades and academic excellence that you always longed for. Our writers stay in touch with you via email.

  • Thorough research and analysis for every order.
  • Deliverance of reliable writing service to improve your grades.
Place an Order Start Chat Now

Order your essay today and save 30% with the discount code Happy