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1. ACC 305 Week 5 Final Paper (FASB)
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305-ASH/ACC-305-Week-5-Final-Paper-
(FASB)
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Focus of the Final Paper
Submit a seven to ten page paper on one of the major topics listed below. The paper should incorporate at
least three other appropriately documented and related articles drawn from the University’s Library. (Note:
you may advance your own topic, but it must be approved by your instructor.)
Explain the role of the FASB in monitoring and controlling business reporting and accounting practices in
the modern organization. In what ways do FASB rules limit business practices and reporting financial
information? How do such rules and regulations protect the business and public stakeholder communities?
To whom is the FASB accountable and who appoints members to FASB?
Explain how external stakeholders use financial information such as company income statements and
balance sheets to make decisions about the company in such cases as advancing credit or offering leasing
vehicles. Discuss how common financial ratios and investment analysis is used to conduct due diligence by
external parties and how factors such as accounts receivables, accounts payables, earnings returns, returns
on inventory, etc. are applied to evaluate a firm’s financial and business health.
Discuss depreciation as a tool for managing and evaluating the life and utility of assets of the firm. What are
the methods and under what conditions would each method be used and applied? Does a firm’s tax planning
influence the decision? How do external stakeholders assess the validity of depreciation schemes?