WVU Financial Accounting Fair Value Principle Measurements Paper

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Select 5 Accounting Principles to discuss; quote company’s statement and give your assessment in a short paragraph.
1. Fair Value Principle Measurements – Global or Historical Cost Principle – USA
2. Intangibles- Goodwill
3. Revenue Recognition – Long Term contracts: at sale or during progress of contract with progress billing
4. Financial Services Revenue
5. Insurance Revenue
6. Research and Development
7. Inventories – FIFO or LIFO or Weighted Average or Specific Identification or Lower-of-Cost-or Net Realizable Value
• Tracks inventory under perpetual or Periodic basis
8. Property Plant & Equipment – Straight Line, 150% declining or sum of units
• Write off with depreciation or amortization or depletion
9. Warranties – on products
10. Operating or Capital Leases
11. Recently Adopted Accounting Guidance or Changes – examples
12. Discusses General Accepted Accounting Principles

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Accounting Principles

Fair Value Principle Measurements

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