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Topic 1: Review the Accountiing Standards document attached Accounting Standards Update 2021-02.pdf Accounting Standards Update 2021-02.pdf – Alternative Formats
Review the amendments in this Update. What are your views on this FASB amendment and its impact on financial reporting? Be sure to provide specific examples to back up your opinion.
Topic 2: Although the equity method is a generally accepted accounting principle (GAAP), recognition of equity income has been criticized. Define the equity method and equity income. What theoretical problems can the components of the equity method identify? Be sure to provide specific examples to back up your opinion