FASB & GASB

Assignment 1: Complete the following for Chapter 6: Exercises 2, 4, and 17.
All of the questions and exercises should be saved in one Microsoft Word document.
Review the Assignment details and rubric. When complete, submit to the Unit 5 Assignment 1 Dropbox.
FASB & GASB

Exercise 2:
Given the GASB is related to FASB through their common oversight board, research GASB’s plan for its hierarchy of accounting sources. Identify where you found that information.
FASB & GASB

Exercise 4:
Review Walmart’s financial reports for the last three years and perform a ratio analysis of them. In one paragraph, discuss the company’s financial situation. What databases and parts of that database did you use to find the answer?
FASB & GASB

Exercise 17:
Examine an analyst report on Ford Motor Company. Who wrote the report? Outline the major contents of that analyst report. Where did you find this analyst report?
FASB & GASB

Question 1:
Go to the Securities and Exchange Commission’s website (https://www.sec.gov/) Select a Staff Accounting Bulletin (https://www.sec.gov/interps/account.shtml). Summarize that bulletin and state whether or not you agree with the SEC’s position and the reasons for your position.
United States Securities and Exchange Commission. Retrieved from http://www.sec.gov/
FASB & GASB
Question 2:
Go to the Governmental Accounting Standards Board website (https://www.gasb.org/home). Read the article, “What is the Significance of GASB’s Conceptual Framework?” by Robert H. Attmore. Do you agree with the author’s thoughts on GASB’s Conceptual Framework? Why, or why not? Does this conceptual framework promote consistent and fair standards? Why, or why not?
Governmental Accounting Standards Board: Retrieved from http://www.gasb.org/
Attmore, R. H. (2009, Winter). What is the significance of GASB’s conceptual framework? Journal of Government Financial Management, 8–10. Retrieved from https://www.gasp.org/jsp/GASB/Document_C/DocumentPage&cid=1176156747645
FASB & GASB
Question 3:
In 2016, after nearly 10 years without an update, the United States Treasury Department issued a newly revised U.S. Model Income Tax Convention (the “2016 Model”), which is the baseline text the Treasury Department uses when it negotiates tax treaties. What are some of the differences between the 2016 Model and the 2006 Model? Why were these changes needed?

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