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Accounting

Assignment: PARTICIPATION QUESTIONS

1. What is FASB's Structure and what are current topics they are working on?

2. What is the FASB Codification System?

3. What is the purpose of the FASB Codification System?

4. How can FASB Codification System be used to make better accounting decisions?

5. What are U.S. Generally Accepted Accounting Principles(GAAP)?

6. How do GAAP affect financial reporting?

7. How might GAAP need to change to accommodate today's dynamic business environment?

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