Part 1: Find a proposed standard from the current or prior year that is related to this course (liability and equity-type transactions only) in
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Part 1: Find a proposed standard from the current or prior year that is related to this course (liability and equity-type transactions only) in the FASB Codification system. Prepare a 2-3 page summary of the FASB proposal highlighting what changed, why, and the potential impact on the financial statements and disclosures.
***Part 2: Find a company’s financial statements, using the EDGAR database. Use Excel to create an applicable supporting schedule and financial statement(s) that would provide an example of the application of the proposed standard you selected for the company you selected. Ex. if the standard you found included a different method to recognize revenue you would create a worksheet using that proposed change to revenue recognition and then show how that change would affected the financial statements of the company you selected from EDGAR (https://www.sec.gov/edgar.shtml).
Part 1- is completed. see Attachment. Proposed Standard is also attached.
Part 2 is a continuation to reflect part 1. Writer can choose company of choice. Provide 1 page summary to explain worksheet and provide the source from EDGAR site for the worksheet.
Provided examples templates.