Analyze the financial principles and concepts related to short- and long-term assets, and other financial statements.
Question
You have been hired as the CPA / Controller for an information technology start-up company
. Thecompany is currently privately held with the goal to eventually become a publicly traded company
.Write a three to four (3-4) page paper in which you:1
. Discuss how the companys management team can manipulate its earnings results though theadoption of different accounting methods and the obligation of accounting professionals to betransparent to shareholders
.2
. Assess how the start-up technology business may be impacted by the required compliance withU
.S
. GAAP accounting methods and make a suggestion for how the business managers shouldminimize the impact to the financial performance as a result of accounting compliance
.3
. Assume that the privately held technology company decides to become a publicly tradedcompany on the NASDAQ and is required to adopt International Financial Reporting Standards(IFRS)
. Determine the areas of the balance sheet that will be impacted by the shift and how thestock market is likely to respond to this change in accounting methods
.4
. Evaluate the impact to the accounting profession should privately held companies be required touse U
.S
.GAAP while publicly traded companies are required to IFRS
.5
. Use at least three (3) quality academic resources in this assignment
. Note: Wikipedia and otherWebsites do not quality as academic resources
.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on allsides; references must follow APA or school-specific format
. Check with your professor for anyadditional instructions
.Include a cover page containing the title of the assignment, the students name, the professorsname, the course title, and the date
. The cover page and the reference page are not included inthe required page length
.The specific course learning outcomes associated with this assignment are:Examine the accounting framework and governing boards both domestic and international
.Analyze the financial principles and concepts related to short- and long-term assets, and otherfinancial statements
.Use technology and information resources to research issues in financial accounting andreporting
.Write clearly and concisely about financial accounting and reporting using proper writingmechanics
. Thecompany is currently privately held with the goal to eventually become a publicly traded company
.Write a three to four (3-4) page paper in which you:1
. Discuss how the companys management team can manipulate its earnings results though theadoption of different accounting methods and the obligation of accounting professionals to betransparent to shareholders
.2
. Assess how the start-up technology business may be impacted by the required compliance withU
.S
. GAAP accounting methods and make a suggestion for how the business managers shouldminimize the impact to the financial performance as a result of accounting compliance
.3
. Assume that the privately held technology company decides to become a publicly tradedcompany on the NASDAQ and is required to adopt International Financial Reporting Standards(IFRS)
. Determine the areas of the balance sheet that will be impacted by the shift and how thestock market is likely to respond to this change in accounting methods
.4
. Evaluate the impact to the accounting profession should privately held companies be required touse U
.S
.GAAP while publicly traded companies are required to IFRS
.5
. Use at least three (3) quality academic resources in this assignment
. Note: Wikipedia and otherWebsites do not quality as academic resources
.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on allsides; references must follow APA or school-specific format
. Check with your professor for anyadditional instructions
.Include a cover page containing the title of the assignment, the students name, the professorsname, the course title, and the date
. The cover page and the reference page are not included inthe required page length
.The specific course learning outcomes associated with this assignment are:Examine the accounting framework and governing boards both domestic and international
.Analyze the financial principles and concepts related to short- and long-term assets, and otherfinancial statements
.Use technology and information resources to research issues in financial accounting andreporting
.Write clearly and concisely about financial accounting and reporting using proper writingmechanics