Debatable Issues in Accounting

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Hello,

I am currently enrolled in college and am required to write about a debatable issue in my major (which is accounting). So I was wondering if anyone had any ideas on a debatable accounting related issues which would be easy to find a lot of information on. I'm only a second year student so I need help picking a topic that won't go too in depth since my current knowledge in the subject is limited to mostly the basics, for the moment.

Thanks! :)
 
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Can try cost based accounting v.s. fair value accounting. Should be quite a general topic with easy-to-find research information available.
 
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Compare US GAAP vs. IFRS (International Financial Reporting Standards). Examples:
1. Asset valuation - historical cost vs. fair value
2. COGS - LIFO not permitted in IFRS
3. Balance sheet presentation - GAAP items are listed in order of decreasing liquidity
 

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