ACC 497 Week 1 DQs and Summary

This document of ACC 497 Week Discussion Questions and Summary consists of:

DQ 1: Please comment on one of these current accounting issues. Please share your resources.1. Codification of GAAP2. Rules-based versus principle-based accountingDQ 2: What tools can be used for financial statement analysis? What do these tools tell you about financial performance? What kinds of business decisions can be made using these tools in your company or organization?DQ 3: How does GAAP affect financial reporting? How does GAAP need to change to accommodate today