You intern on the research team at Summit Advisory, a consulting firm. A client, Sunbeam Energy, has asked your team to investigate one of five financial reporting issues that could affect their business. Specifically, they are asking about the following topics:

• Stock-based compensation liability awards
• Lease modifications
• Sale and leasebacks
• Remeasurement of assets and liabilities denominated in a foreign currency
• Noncontrolling interests

Your task is to gather credible information on one of these topics, evaluate different sources, learn how to prepare a technical memo and write a memo your team can use to make recommendations.

Learning objectives

1. Locate and interpret relevant accounting guidance using the FASB Codification and other authoritative sources.
2. Analyze and evaluate how accounting codification is applied in real-world corporate filings, such as 10-Ks, by identifying recognition, measurement, and disclosure practices in real filings.
3. Compose an original accounting memo that integrates codification requirements, scholarly research, and company-specific applications.
4. Incorporate feedback to improve clarity, accuracy, and critical analysis.

Suitable courses: Financial

You must have an account with EYARC Experience and then go to the Assignment Catalog to review