To complete this assignment, you will need to access FASB Accounting Standards Codification. (https://asc.fasb.org/home)
When clicking the link, click the Captcha and click “Access the Basic View.” You do not need to create an account and you do not need a username and password to access the Codification site.
After verifying the Captcha, accept the license agreement and you will have access to the Codification site. From there, you can browse the various sections using the menu on the left. The search feature is not available in this version.
For this assignment, write a 2–4 page paper in which you:
Select one of the industries that is of interest to you, and briefly explain why.
Identify how many subtopics are in the industry you selected.
Pick two subtopics within your selected industry that are applicable to a balance sheet (something to do with assets, liabilities, or equity).
Identify your chosen subsections by number and title. Explain what they mean in your own words.
Identify what accountants in your selected industry might be focused on as an area or areas of concern.
