{"id":199337,"date":"2018-09-13T21:56:48","date_gmt":"2018-09-13T21:56:48","guid":{"rendered":"http:\/\/localhost\/wordpress\/index.php\/2018\/09\/13\/ac-551-unit-3-assignment-chapter-3-questions-4-7-12-15-and-16-exercise-7\/"},"modified":"2018-10-24T08:58:02","modified_gmt":"2018-10-24T08:58:02","slug":"ac-551-unit-3-assignment-chapter-3-questions-4-7-12-15-and-16-exercise-7","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/ac-551-unit-3-assignment-chapter-3-questions-4-7-12-15-and-16-exercise-7\/","title":{"rendered":"AC 551 Unit 3 Assignment Chapter 3 (Questions 4, 7, 12, 15, and 16, Exercise 7)"},"content":{"rendered":"<p>Assignment 1:\u00a0Complete the following for Chapter 3: Questions 4, 7, 12, 15, and 16; Exercise 7.\tWhat is the FASB conceptual framework project? Explain the benefit of this project to the practitioner.\tGive examples of authoritative and nonauthoritative U.S. GAAP.\t\u00a0\tAuthoritative: based on the assumption or concept of financial or government accounting.\tNonauthoritative: based on accounting literature not necessarily accounting principles.\tWhat constitutes U.S. GAAP?\tHow can the promulgation of an accounting standard impact economic behavior? Discuss a specific example.\tDistinguish between primary authoritative support and secondary authoritative support.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Assignment 1:\u00a0Complete the following for Chapter 3: Questions 4, 7, 12, 15, and 16; Exercise 7. What is the FASB conceptual framework project? Explain the benefit of this project to the practitioner. Give examples of authoritative and nonauthoritative U.S. GAAP. <a href=\"https:\/\/www.benedictsol.com\/blogs\/ac-551-unit-3-assignment-chapter-3-questions-4-7-12-15-and-16-exercise-7\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-199337","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/199337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=199337"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/199337\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=199337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=199337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=199337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}