The Pros and Cons of Hiring Personal Accountants; Is it recommended? | Coursehero Solutions

Thesis Paper Topic: The Pros and Cons of Hiring Personal Accountants; Is it recommended?

Requirements:

1. At least 4 scholarly resources other than the textbook to support your claims. Recommend using the FASB Accounting Standards Codification, the SFACs, and other sources of literature for research.

Textbook reference is: Mintz, S.M., & Morris, R.E. (2014). Ethical Obligations and Decision Making in Accounting: Text and Cases (3rd Ed.). New York, NY: McGraw-Hill Irwin.

2. The paper should be a minimum of 10 pages in length excludingthe title page and reference page and thoroughly aIDress the chosen topic.

   3. The paper should include an introduction to the accounting topic, problem, or question.  Then describe why this is an issue; do a literature search and present a summary of the issues reported on in the articles you found during your literature search.

Main Body should include:

-Explain the proper accounting for the transaction(s) that put most people at risk, include citations from the Codification.
-Comment on the GAAP treatment transactions as it relates to personal finances.

-What trade-offs have been made whether you hire an accountant or not, considering the FASB Conceptual Framework elements?  (The conceptual framework is a series of Statements of Financial Accounting Concepts (SFACs), taken as a whole, set the objectives, characteristics and other concepts that determine how financial information is measured and displayed in financial statements).

-What are the risks, the benefits of having and not having an accountant and use real-world examples for support.

4. Include a conclusion that summarizes the key points of the paper.

Resource Ideas:

Accounting Standards Codification: http://aaahq.org/ascLogin.cfm
KPMG Institutes: http://www.kpmginstitutes.com/Ernst & Young Insights: http://www.ey.com/GL/en/Issues
Accounting Today: http://www.accountingtoday.com/
The CPA Journal: http://www.cpajournal.com/
Journal of Accountancy: http://www.journalofaccountancy.com/
IASB: http://www.ifrs.org/Home.htm
PCOAB: http://pcaobus.org/Pages/default.aspx
SEC: http://www.sec.gov/
AICPA: http://www.aicpa.org/Pages/Default.aspx