This is a graded discussion: 3 points possible
Week 1 – Discussion 1
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Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.
Standard Setting Process
Chapters 1, 2, and 3.
Make sure your response addressing the following question is more than 200 words and you include an in-text citation or a brief quote from the reading material where appropriate.
Briefly explain how the financial statement preparers, users, and other interested parties are involved in the standard setting process for U.S. GAAP. Referring to the Forbes article “The only three reasons entrepreneurs need accounting and finance (Links to an external site.)Links to an external site.”, explain how the need to measure progress is satisfied by GAAP and the process used to derive GAAP.
You are required to respond in a substantive manner to at least two of your classmates’ postings by Day 7 to receive full discussion participation credit.
Students are expected to participate by actively engaging in weekly discussion forums. Please note that completing work in MyAccountingLab does not count as attendance.