Historical development of the financial accounting theory (Revenue Recognition)

Description After you have sought and received your instructor’s approval of the topic, begin writing a paper that logically and critically analyzes and synthesizes all aspects of your theory topic. Be sure to include the following core components concerning your theory topic. 1. Historical development of the financial accounting theory (Revenue Recognition). 2. Current GAAP. 3. Compare and contrast U.S. GAAP and IFRS in respect to your topic. 4. Suggested changes or problem areas revealed in the debate arena. 5. Analyze points 2 and 3 in relation to the Conceptual Framework (include qualitative characteristics of useful information). 6. Suggest appropriate courses of action. I wanted to provide detail on what should be included in this section. Within this section, provide your recommended solution to the accounting problem supported by research and rationale that aligns with the theory. Provide a solution even if it is contrary to current practice or if a resolution has already been recommended by the FASB or other standard setting body. Of course, your recommended solution could be what is currently used in practice. 7. Provide a biblical application, supported by Scripture, in respect to your topic. This paper must be written in current APA format, and this paper must be 12 pages double-spaced with 1-inch margins and 12-point Times New Roman font. There must also be references from at least 7 different peer-reviewed accounting and business journals. Be sure to include a title page, outline, and a reference page. The title page, outline, and reference page DO NOT count toward the page requirement.