Accounting 10, 20, 30

(a)	Discuss how Generally Accepted Accounting Principles (GAAPs) and accounting standards are applied to accounting cycles and to business transactions.
(b)	Collaborate with peers to discuss inquiry questions such as: Why do GAAPs and accounting standards exist? How are the GAAPs applied? What would happen in the absence of any standards?
(c)	Examine the relationship between personal, professional and business ethics and how it relates to GAAPs and the accounting standards.
(d)	Discuss why different parts of accounting handbook exist (e.g., International Financial Reporting Standards [IFRS], Accounting Standards for Private Enterprises [ASPE], Not-for-profit organizations [NPO], Public Sector Accounting Board [PSAB]).
(e)	Investigate accounting examples of current events that involve a breach in ethics or failure to adhere to accounting standards.