Effective Writing 10th Edition by Claire May,Gordon May

Exercise 1

Write about the following topics using the techniques covered in this and earlier chapters. Your answers might range from one to six paragraphs or more, depending on the topic.
1. Discuss how to test for impairment of intangible assets with indefinite lives under FASB standards.
2. Discuss the role of the International Integrated Reporting Council (IIRC) in the future development of corporate reporting.
3. Define fair value accounting and discuss the pros and cons of its use.
4. Explain the difference between revenues and gains.
5. Explain the differences between depreciation, amortization, and depletion.
6. Discuss the importance of convergence in the context of establishing International Financial Reporting Standards (IFRSs) as well as the pros and cons of adopting IFRSs in the United States.