Throughout this course you have utilized the FASB codification to research
Throughout this course you have utilized the FASB codification to research the authoritative guidelines for accounting transactions. Briefly explain the primary advantages of having a codification of generally accepted accounting principles. Also, recommend two (2) areas where the FASB can improve codification.
- From the e-Activity (http://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm), briefly summarize the outlook of future jobs in the accounting field. Give your opinion on the type of skills that will be needed to accounting fulfill the jobs in the future. Also, discuss the manner in which you will prepare yourself for a job in the accounting field
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Codification of the principles of accounting helps in the simplification of the access of the acceptable principles by the authorities. Codification involves the restructuring of the accounting reporting and standards. There are three major goals of codification one being the simplification of the access of codes by the authorities. The simplification of the access by users brought an overhaul in the structure that saw the change from the standard model to a topical model. The amount of standards codified in the science and……
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