... able to: Describe the accounting for the issuance, conversion, and retirement of convertible securities Explain the accounting for convertible preferred stock Contrast the accounting for stock ... sections discuss the accounting for stock otions under both the intrinsic and fair value methods as well as the political debate surrounding stock compensation accounting ACCOUNTING FOR STOCK ... on page 343 as the last paragraph) ‘ Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities,’’ Statement of Financial Accounting Standards No 125 (Norwalk,...