Go to www.fasb.org, click on the Standards tab, then Accounting Standards Updates Issued, then Issued in 2019 or 2020, and choose one of the standards listed.

In memo format, summarize the new standard and the potential impact of that standard’s implementation on internal users and external users (see pages 7 and 57-59 in the textbook). Be sure to address possible unintended consequences.

Your response should be 250-500 words. Cite at least one source on the standard, from an acceptable academic source. You will also need to find at least one news, magazine, or Internet article on the topic.

For this assignment, use the “Memo Template” provided with this course as an example memo format.

While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.

AttachmentsACC-616-RS-MemoTemplate.docx