Acct540 acct 540 week 1 homework

ACCT 540 Week 1 Homework

Access the FASB website ( Hover your mouse to the “Standards” tab and on its drop-down menu, click on the “Pre-Codification Standards.” Thoroughly read the last four standards issued. Describe each standard and what it added to the existing authoritative accounting literature. Please write one page (12-point, double spaced) on each standard.


Statement No. 168 (Superseded) 

The FASB Accounting Standards Codification® and the Hierarchy of Generally Accepted Accounting Principles—a replacement of FASB Statement No. 162 

(Issue Date 06/09) 

[As Amended] [As Issued] [Summary] [Status] 



Statement No. 167 (Superseded)

Amendments to FASB Interpretation No. 46(R) 

(Issue Date 06/09) 

[As Amended] [As Issued] [Summary] [Status] 



Statement No. 166 (Superseded) 

Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140 

(Issue Date 06/09) 

[As Amended] [As Issued] [Summary] [Status] 



Statement No. 165 (Superseded) 

Subsequent Events 

(Issue Date 05/09) 

[As Amended] [As Issued] [Summary] [Status]

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