ACC305 Intermediate Accounting 1
Week 2 Discussion
DQ1 Single-Step Versus Multi-Step Income Statement.
Read: Chapters 4, 5, and 6.
Write: Make sure your response addressing the following question is more than 200 words and you include an in-text citation or a brief quote from the reading material where appropriate.
Explain the difference between a single-step and a multi-step income statement. Which statement is more transparent? Why?
DQ2 Accounting Standards: FASB versus the Securities and Exchange Commission.
Read: Chapters 4, 5, and 6.
Write: Make sure your response addressing the following question is more than 200 words and you include an in- text citation or a brief quote from the reading material where appropriate.
How does the role of the FASB differ from that of the Securities and Exchange Commission with regard to the establishment of accounting standards?
