ACC 616 FASB Accounting Standards Update Memorandum
Please 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. Be sure to address possible unintended consequences.
The response should be 250-500 words. Please 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, please use the “Memo Template” provided with as an example memo format.
APA style is not required for the body of this assignment, documentation of sources should be presented using APA formatting guidelines.