The IASB has several ongoing projects involving the review of standards, which may result in updates and revisions of financial accounting standards. You should select an ongoing IASB project after visiting the IASB website. Please notate if you have selected an open or completed accounting project.
https://www.ifrs.org/projects/work-plan/#ifrs-accounting-projects
It is recommended to select a project with an exposure draft. It is not recommended to select an annual improvement update. Accounting projects are encouraged.
You can also select a recently completed accounting project:
https://www.ifrs.org/projects/completed-projects/#ifrs-accounting-projects
Your professor must approve your topic and research plan in advance for the IFRS / FASB project discussion. The topic should not be a repeat of your prior work. You can select the same project as a classmate.
Research Plan Guidance for this Course Only:
Research Plans Must be Approved in Advance. The assignment instructions have a research tracker for you to use (see content week 6), yet you may be wondering what to submit in this class as a research plan. Here are some guidelines:
1. Provide the topic along with a link to the project.
2. What is the objective of the research (you may add an outline of anticipated content here)
3. What sources do you intend to use-I recommend you are specific here, or you will spend a great deal of time looking for sources. Public accounting firms have excellent resources on these subjects and may be of use in this project.
Other classes may have additional requirements for a research plan. However, the above three items will satisfy the requirements in this class.
Part two
- Read the guidelines below and click the title above to respond to the discussion board. Select a publicly traded US corporation you want to study this semester and ask the professor for permission by posting a response here. You may search for your company’s name and Investor Relations and look for SEC Filings.
Your corporation must meet the following criteria: It must have an SEC 10-K report for the current or most recent prior year. It must have an Accounts Receivable and Inventory Account. It is recommended you select a manufacturing company. Your corporation may NOT: Be the same corporation you used for SEC projects in other courses. Be the same corporation a classmate selected. Be a bank or any other type of financial institution. Be a service company. Discussion Requirements
- Please write the corporation’s name, the stock market where it is traded, and its ticker symbol in the Subject line when you respond to this posting and all other postings related to this project. For example:
Under Armour: NYSE: UA Apple; NASDAQ: APPL ExxonMobil; NYSE: XOM
- State why you want to study and prepare a financial analysis of your corporation. Provide a direct link to your corporation’s SEC 10-K report for the most recent year. A direct link is a hyperlink that takes you directly to a website where the SEC 10-K report is located. For example, this is the direct link to the 2021 McCormick and Company SEC 10-K report. The most direct route to finding the direct link is to use the SEC EDGAR System and search by Company name. An alternative research method to locate the most current SEC 10-K for your company is to search for the name of your company and the words investor relations. You will need to make selections and click links such as SEC filings, and may be required to use the drop-down SEC filings menu to select annual as the report type. Provide page numbers for all four required financial statements and the Management Discussion and Analysis:
Income Statement (it could be listed as the Consolidated Statements of Income.) Balance Sheet (it could be listed as the Consolidated Balance Sheet or Statement of Financial Position.) Statement of Stockholders Equity (it could be listed as the Consolidated Statements of Stockholder’s Equity or Consolidated Statements of Stockholder’s Deficit.) Statement of Cash Flows Management Discussion and Analysis