Create a codification research system that is up to date for the released results of standard-setting activity” (FASB Accounting Standards Codification 2014.

As you know, the Financial Accounting Standards Board (FASB) created the Financial Accounting Standards Codification (ASC), which significantly changed the way accounting academics and practitioners research GAAP.“The FASB had three primary goals in developing the Codification:1. Simplify user access by codifying all authoritative US GAAP in one spot.2. Ensure that the codified content accurately represented authoritative US GAAP as of July 1, 2009.3. Create a codification research system that is up to date for the released results of standard-setting activity” (FASB Accounting Standards Codification 2014. About the Codification, (v 4.9) (p 5).UMGC purchased a subscription for you to access the FASB ASC. Login instructions are located in Content>Learning Resources>FASB, GASB, COSO. Note: the login credentials change annually, thus you will lose access to the “Professional view.” I have found the Basic View offers almost as much information as the Professional View. For future reference, click here to create a Basic View subscription to the FASB ASC.In addition to U.S. financial accounting standards, the International Accounting Standards Board (IASB) issues International Financial Reporting Standards (IFRS). For many years, FASB considered full adoption of IFRS, but decided against IFRS adoption in 2002. Instead, the FASB and IASB agreed to “converge” GAAP and IFRS accounting standards, which is referred to as accounting standards convergence.Required:Read the very brief Norwalk Agreement to fully understand the agreement between the FASB and the IASB.What does accounting standard convergence mean in this context?As of today, which countries have adopted IFRS? Which, if any, countries are on the verge of adopting IFRS?Create a list of FASB accounting standards that have been converged with IFRS. State the FASB topic name and ASC number (ex. Standard topic name: ASC XXX-XX-XX-X).Which FASB accounting standard(s) are next in line to converge with an IFRS standard?To answer this last question, you need an understanding of the difference between a rules-based and principles-based accounting system. Investopedia provides an adequate explanation in this article: How Are Principles-Based and Rules-Based Accounting Different?Which system does FASB prefer?Which system does IFRS prefer?How does convergence impact FASB’s and IFRS’ preferences?Many new anti-money laundering laws such as the Know Your Customer Act and the Foreign Account Tax Compliance Act (FATCA) and have been implemented since 9/11. These laws were passed in the name of fighting terrorism, but have also been used for manyRead:Abel, A. S., & Gerson, J. S. (2001). THE CPA’s Role in Fighting Money Laundering. All practitioners—not just auditors—need to understand how regulators expect them to help. Journal of Accountancy, 191(6), 26–31. all dollar figures in the article with current financial data. Be sure to cite your sources. Do not use Wikipedia or trade journals. Instead, rely on government agencies, peer reviewed journal articles, or highly reputable professional organizations focused on reducing financial crimes.To what extent have AML laws been effective at fighting terrorism? Be specific.Some believe AML laws are unconstitutional violations of privacy and, an overly bureaucratic waste of time. Do you agree? Support your response with valid and reliable data and cite your source(s).As an accountant and/or financial management professional, what can you do to become better prepared to detect money-laundering?


Differentiate between the financial structure of public and private institutions in historical black colleges & universities.

Read Page 68-74 of the book Washwomen by Isaac Singer. Identify and explain three levels of conflict in the story.

Explain the tort of negligence and how it applies to the duties of care owed by air traffic controllers in New Zealand, Australia, Singapore and the United States.

Identify the purpose of your educational intervention, the learning objectives, and the teaching and motivational strategies that you will use.

Differentiate between specialty nursing practice and advanced practice registered nursing by comparing and contrasting them in the following dimensions: knowledge base, scope of practice, credentialing, and regulation.

Discuss how the pandemic affected urgent cares

Write a paper evaluating your own personality.

Comment on Shakespeare’s use of magic in the play midsummer nights dream, give 3 uses and describe their significance

How did Progress become a hegemonic idea in Latin America,
and what was the consequence?

After reading the topic materials on classroom management, what valuable points do you believe were most helpful for classroom management?