You can use ChatGPT to research this memo and using Microsoft Word “Track Changes” to edit the ChatGPT text for professional tone, accuracy, and corroborating credible source additions. Organize the memo a business memo format, like the research case memos.
· Business memo format headers to include a Purpose, Referenced Sources, Background, Discussion, Conclusion (these sections must be included at a minimum, use headers and sub-headers to organize your paper).
· Use ChatGPT prompts to write your memo. Copy and paste the ChatGPT text into the memo and use “Track Changes” in Microsoft word to edit the ChatGPT text as needed. Write and re-write prompts in ChatGPT until you get information that you are ready to edit.
· Add at least two different credible sources to your memo to corroborate the ChatGPT text that you are editing. You must add the credible sources into the body of the memo and in the “Referenced Sources” section. You are not limited to the below, but here are some credible sources to consider:
· FASB ASC
· Big 4 Content (PwC, EY, KPMG, Deloitte)
· Journal of Accountancy by AICPA
· Accounting Today
Research topic
· US GAAP and the accounting standard setting process.
o Discuss a brief history of US GAAP, FASB, SEC
o Discuss the current US GAAP standard setting process.
o Summarize a current update on the FASB Technical Agenda, discussing new standards recently issued by the FASB that a current public company would need to be aware of
