200 WordsAPA formatted referencesDiscuss with your new accountant your opinion on the merits of GASB...

Question

200 WordsAPA formatted referencesDiscuss with your new accountant your opinion on the merits of GASB Statement 
No. 56.

Is it really worthwhile for the government to implement this new 
Statement?
Why/why not?
In your own words, please post a response to the Discussion Board and 
comment on other postings. You will be graded on the quality of your 
postings.
The following grading criteria will apply to this 
assignment:

Grading Criteria

20%

Is it really worthwhile for 
the government to implement this new Statement No. 56?

60%

Why/why not?

Robert · Accepted Answer

GASB STATEMENT NO. 56 
The primary objective of the government to introduce the GASB Statement was to 
incorporate the existing guidance for the related party transactions, going concern 
considerations, as well as the subsequent events. The ideal aim is to disclose the certain 
transactions that are related directly with the party where the financial statements of the entity 
should incorporate the substance of the transactions, in the event of subsequent events the 
transactions that affect the financial statements later to the date of net assets, should be 
incorporated as well,

Grading Criteria
20%	Is it really worthwhile for the government to implement this new Statement No. 56?
60%	Why/why not?

200 WordsAPA formatted references Discuss with your new accountant your opinion on the merits of GASB Statement No. 56. Is it really worthwhile for the government to implement this new Statement?...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment