Summarize your FASB Codification research findings.

Directions
Access FASB Accounting Standards Codification Download FASB Accounting Standards Codification materials. The access information changes annually.
Here is updated access information for this academic year:
2020 – 2021 FASB Student Login
Username – aaa64830
Password – ZGN77rz
Access FASB – GARS here (Links to an external site.)
View the accompanying recorded lecture FASB Codification Research (Links to an external site.) which provides training on the database and the process of writing a formal research memorandum.
Using the FASB Codification Database, research the Spare the Rod case below. To document your process and findings, prepare a short memo to Jessie that (1) summarizes the case facts, (2) identifies the accounting issues pertinent to the case, and (3) summarizes your FASB Codification research findings. Follow the same research process(es) and memo writing techniques as demonstrated in the lecture.
Spare the Rod case (adapted from Trueblood Cases – Deloitte Development, LLC)
Stellar Bright Solar (SBS or the “Company”) is a business that contracts to develop, construct, and operate solar power plants.
SBS entered into a contract to support the Big Desert solar power plant. According to the contract terms, SBS is responsible for the day-to-day operations of Big Desert as well as for general maintenance and repairs. Big Desert expects SBS to provide routine maintenance for continued operation of the plant and respond to equipment breakdowns and failures by providing immediate repairs. In addition, the terms of the contract require SBS to procure necessary materials to operate, maintain, and repair the plant. To comply with this requirement, the Company must maintain a certain level of materials and supplies (the “spare parts”) at all times.
On a regular basis, SBS reviews a listing provided by Big Desert of recommended spare parts for various components of the solar power plant and procures the necessary parts. Vendors deliver the parts to SBS along with a complete listing that describes the quantity and cost of the parts provided. SBS maintains this listing and uses it to (1) track expected usage of the spare parts and (2) determine their expected useful lives.
The spare parts consist of customized and generic parts that vary in cost, procurement time, expected usage (i.e., emergency replacement, standard replacement), and expected useful life. Big Desert uses the composite depreciation method for substantially all of the plant, and it expenses all major plant maintenance.
SBS’s controller, Jessie Palmer, is determining how to report these items on the financial statements. Jessie has reasoned through two possible options. The spare parts expected to be used within one year could be reported as inventory or perhaps it should be reported as a prepaid/other current asset. She isn’t quite sure. As assistant controller, Jessie has asked you to research the FASB Codification database to provide clarity how this should be reported.
Criteria for Success:
The following grading rubric will be used by the instructor to assign points.
Here are two sample research cases containing effectively written memos: FASB Demo Memos Download FASB Demo Memos
Access additional research tips (if they are helpful) here: FASB Codification Search Tips Download FASB Codification Search Tips
Submit completed research memo.

DeliveredIn24
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.