Time Value of Money & Standard on Rev Recognition

          1. Using the FASB Codification as your source, search on the time value of money then identify one of the topics that discusses the use of time value of money. Assume your manager says that the time value of money concept is a waste of time for the topic you selected and to just book the entry. What would you do in this situation? Be sure to note the code section (ASC xxx-xx-xx-x) that you use. 2. Using the FASB Codification (ASC) as your source, review the standard on revenue recognition. Discuss how you would apply this standard to the income statement of your current, past, or future job and if you think these rules need any revisions.