n the United States, a public company’s financial statements
In the United States, a public company’s financial statements must be according to General Accepted Accounting Principles (GAAP). These principles are cost, revenue recognition, and matching principles. Examine the financial statement and notes of a public company. Write a paper between 5 and 7 pages (double spaced) discussing the following.
1.Introduction/Background information.
2. GAAP and description of the accounting principles: Cost, revenue recognition, and matching.
3. Selected company’s application of GAAP in cost recording, revenue recognition, and matching of expenses and revenues.
4. Description of recent accounting standards and pronouncements that effect the selected company’s financial statements.
5. Description of assertions of internal controls in the notes to the financial statements.
6. Conclusion
You must use the FASB codification in your essay about the principles because it is the authoritative guidance for GAAP. Login information is under “Suggested Resources & Supplies”. You will find it useful to consult other credible sources through the library to learn more about your selected company and other information you may need. The project must be APA-formatted and include a title page and a reference page.
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