INDIVIDUAL LEARNING PROJECT ASSIGNMENT INSTRUCTIONS
OVERVIEW
Conduct a research project examining some aspect of financial accounting theory that is currently being debated in the accounting and business world.
Using the electronic databases and other sources, search for journal articles in professional peer-reviewed accounting and business journals that pertain to your individual financial accounting theory topic.
INSTRUCTIONS
Search for journal articles in professional peer-reviewed accounting and business journals that pertain to your individual financial accounting theory topic. Then, begin writing a paper that logically and critically analyzes and synthesizes all aspects of your theory topic. Be sure to include the following core components concerning your theory topic.
1. Historical development of financial accounting theory.
2. Current GAAP.
3. Compare and contrast U.S. GAAP and IFRS in respect to your topic.
4. Suggested changes or problem areas revealed in the debate arena.
5. Analyze points 2 and 3 in relation to the Conceptual Framework (include qualitative characteristics of useful information).
6. Suggest appropriate courses of action. Provide detail on what should be
included in this section. Within this section, provide your recommended solution to
the accounting problem supported by research and rationale that aligns with the
theory.
Provide a solution even if it is contrary to current practice or if a resolution
has already been recommended by the FASB or other standard setting body. Of
course, your recommended solution could be what is currently used in practice.
7. Provide a biblical application, supported by Scripture, in respect to your topic.
