The Current Accounting Standards Require Fair Value Reporting for Trading

question 182

Essay

The current accounting standards require fair value reporting for trading securities and securities available for sale. Some accountants believe that the FASB was inconsistent when GAAP was issued requiring changes in the value of trading securities to be reported in the income statement and balance sheet, while changes in the value of securities available for sale are reported only in the balance sheet.
Required:
Evaluate the rationale for these two diverse reporting requirements for marketable securities. What arguments could be made to support each treatment?

Appreciate the diversity of personality theories and Freud’s place among them.

Understand Freud's psychoanalytic theory, including his views on the stages of psychosexual development and the key concepts such as the Oedipus complex.

Recognize the contributions and criticisms of neo-Freudians such as Carl Jung, Alfred Adler, and Karen Horney regarding Freud's theories.

Comprehend Carl Jung’s theory of archetypes and the collective unconscious.

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Definitions:

Habitual Behaviors

actions that are regularly performed as part of one's routine, often without conscious thought due to repetition over time.

Ink Pens

Writing instruments that use ink to leave a mark on the surface, typically paper.

Neutral Stimulus

An environmental event that initially does not elicit any intrinsic response until it is associated with an unconditioned stimulus, leading to a conditioned response.

Pavlov

A Russian physiologist known for his research in classical conditioning, demonstrating how stimuli can trigger a conditioned response.