Accounting for private VS Public companies

In this assignment you will compare accounting principles for private and public companies. As you may have discovered as you’ve reviewed the materials for this course most of what is learned in accounting courses focuses on public companies not private ones. GAAP as you have also learned from your studies may be followed by private companies but it is only required to be used by publicly traded companies. FASB of course is designated by the SEC to establish and improve GAAP so their focus is primarily on publicly traded companies. FASB has also recognized the importance and potential impact of private company financial statements. According to Forbes out of the 5.7 million firms with employees in the United States less than 1 percent have shares listed on a U.S. exchange. Although we tend to think of private companies as small companies the reality is quite the opposite with private firms accounting for 86.4 percent of U.S. firms with 500 or more employees. In recognition of the growing importance and impact of private companies FASB has come up with a useful publication: Private Company Decision-Making Framework: A Guide for Evaluating Financial Accounting and Reporting for Private Companies. In this guide FASB identifies the following five Significant Differential Factors: For this assignment write a 2-4 page paper in which you: The specific course learning outcome associated with this assignment is: Number of primary users and their access to management. Investment strategies of primary users. Ownership and capital structure. Accounting resources. Learning about new financial reporting guidance. Select two of the differential factors that interest you and briefly explain why. In your own words explain the factor and why it is different from a publicly traded company. Identify the accounting risks associated with each of your chosen factors. What would you recommend to minimize those risks? Based on what you have learned this quarter what components of the Balance Sheet have the most potential to be impacted by the differential factors you have chosen? Identify both positive and negative potential impacts. Analyze the impact of differential factors on accounting risks and balance sheets. Number of primary users and their access to management. Investment strategies of primary users. Ownership and capital structure. Accounting resources. Learning about new financial reporting guidance.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
error: Content is protected !!
Open chat
1
You can contact our live agent via WhatsApp! Via + 1 3234125597

Feel free to ask questions, clarifications, or discounts available when placing an order.

Order your essay today and save 20% with the discount code CLASS