Signature Assignment: Codification Research Paper

What is a Signature Assignment?

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A signature assignment is designed to align with specific program
student learning outcome(s) for a program. Program Student Learning
Outcomes are broad statements that describe what students should know
and be able to do upon completion of their degree. The signature
assignments are graded with an automated rubric that allows the
University to collect data that can be aggregated across a location or
college/school and used for program improvements.

Write a 700- to 1,050-word paper.

Your client, Cascade Company, is planning to invest some of its
excess cash in 5-year revenue bonds issued by the county and in the
stock of one of its suppliers, Teton Co. Teton’s shares trade on the
over-the-counter market. The company would like you to conduct some
research on the accounting for these investments.

Instructions:

Review the FASB Codification Student Instructions.

Provide Codification references for your responses below.

Incorporate your review of the FASB link to determine when the fair value of a security “readily determinable”.

Since the Teton shares do not trade on one of the large stock
markets, Cascade argues that the fair value of this investment is not
readily available.

Describe how an impairment of a security is accounted for.

Determine how close to maturity Cascade could sell an investment and still classify it as held-to-maturity.

To avoid volatility in their financial statements due to fair value
adjustments, Cascade debated whether the bond investment could be
classified as held-to-maturity; Cascade is pretty sure it will hold the
bonds for five years.

List disclosures that must be made for any sale or transfer from securities classified as held-to-maturity.

Format your paper consistent with APA standards.

Submit your assignment to the Assignment Files tab.