The Financial Accounting Standards Board and the International Accounting Standards Board jointly issued a Discussion Paper soliciting comments on a proposed financial statement presentation. This paper presents the results from 605 CPA’s responses to selected questions asked in the Discussion Paper.
<p class="MsoBodyTextIndent" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-family: Times New Roman; font-size: x-small;">In the past, an effective survey encompassing an extensive list of interviewees has always been an extremely time-consuming and expensive undertaking.<span style="mso-spacerun: yes;"> </span>And yet, it is the primary method for obtaining reliable data from variable sources data on which sound decisions can be made. Using the telephone to do the survey may be impractical if the respondents reside over a large geographical area.<span style="mso-spacerun: yes;"> </span>This process is very time consuming and the cost, in many cases, is prohibitive.<span style="mso-spacerun: yes;"> </span>To conduct a survey by mail is also very costly with some survey costs exceeding $1.00 per questionnaire mailed.<span style="mso-spacerun: yes;"> </span>Also, the response time is slow and the response rate is low.<span style="mso-spacerun: yes;"> </span>Now, there is a new and innovative way to obtain the needed information.<span style="mso-spacerun: yes;"> </span>This new method is fast and the cost is negligible.<span style="mso-spacerun: yes;"> </span>This new method involves conducting a survey over the internet. This paper describes how a survey was transmitted to some 1,500 CPA firms throughout the United States with a 10% response.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: normal; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="font-family: "Times New Roman","serif"; font-size: 10pt;">On August 17, 2010, the Financial Accounting Standards Board and the International Accounting Standards Board jointly issued exposure drafts proposing a new accounting model for leases. This paper explains how a lessee would account for leases under this proposal.</span></p>
The Financial Accounting Standards Board and the International Accounting Standards Board jointly issued a Discussion Paper soliciting comments on a proposed standard on leases. This paper presents the results from 417 CPA’s responses to selected questions asked in the Discussion Paper.
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