questions due sat 021612

“PCAOB”
Please respond to the following:

Identify and evaluate the issues related to the internally created software for House Raising. Discuss the potential problems related to the capitalization of internally created software and the requirements for capitalization under GAAP.

Identify and evaluate the issues related to goodwill for UpSNAP. Discuss these issues in the context of recent FASB guidelines on goodwill impairment.

Discuss the actions you would employ as a CPA to prevent a disciplinary action by the PCAOB in this situation.

“Research and Development Costs”
Please respond to the following:

· Evaluate the practical and conceptual reasons for the reporting requirements of research and development costs required by GAAP. Do you agree with the reporting requirements? Explain your response.

Lease Accounting Rules” Please respond to the following:

· Explain how lease accounting changes affect commercial real estate companies. Assume you are the CFO for a large retail chain that leases stores from mall owners. Discuss what influence the changes would have on your decision to enter into options for renewals of your leases as your current leases expire.

“Lease Accounting Controversy” Please respond to the following:

Assess the impact the proposed leasing changes will have on balance sheets, income statements, and current leasing activity.

Then, identify the industries that will be most impacted from these changes.