what is the specific codification code number for Fund Accounting?
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What is the specific Accounting Standard Codification citation for the following situation. Include ASC Number. On...
What is the specific Accounting Standard Codification citation for the following situation. Include ASC Number. On December 28, 2017, ABC factored, on a with recourse basis, $40,000 of Accounts Receivable with Molina Finance Company. Molina charged a 3% finance charge and withheld an additional 4% to cover any possible adjustments. Cash 37,200 Loss on Factoring 1,200 Due from the Factor 1,600 Accounts Receivable 40,000 ABC's controller has held this position for many years and his reasoning...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific citation for...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific citation for each of the following items 1. The topic number for business combination 2.The topic number for related party disclosures The specific seven-digit Codification citation (xxx-xx-xx} for the initial measurement of internal software The specific seven-digit Codification citation (xxx-xx-xx} for the subsequent measurement of asset retirement obligation The specific seven-digit Codification citation (xxx-xx-xx} for the recognition of stock compensation
FASB codification research E 10-20 The FASB Accounting Standards Codification represents the single source of authoritative...
FASB codification research E 10-20 The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles 1. Obtain the relevant authoritative literature on nonmonetary exchanges using the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Identify the Codification topic number for nonmonetary transactions. What are the specific citations that list the disclosure requirements for nonmonetary transactions? Describe the disclosure requirements. 2. 3. E 10-21 FASB codification research Access the FASB Accounting Standards Codification at...
Access the FASB Accounting Standards Codification at the FASB website
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following: 1. The topic number (Topic XXX) that provides the accounting for earnings per share. 2. The specific eight-digit Codification citation (XXX-XX-XXX) that describes the additional information for earnings per share that must be included in the notes to the financial statements. 3. The specific eight-digit Codification citation (XXX-XX-XX-X) that requires disclosure of transactions affecting the number of common shares outstanding that occur after the most recent reporting...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codification...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codification citation (XXX-XX-XX-X) that describes each of the following Items: 1. The disclosure requirements in the notes to the financlal statements for depreciation on property, plant, and equipment. 2. The criteria for determining commerclal substance in a nonmonetary exchange. 3. The disclosure requirements for interest capitalization. 4. The elements of costs to be included as R&D activities.
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codification...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codification citation (XXX-XX-XX-X) that describes each of the following items: Required: 1. The basic principle for recording nonmonetary transactions at fair value. 2. Modifications of the basic principle for recording nonmonetary transactions when fair value is not determinable or the exchange lacks commercial substance. 3. The concept of commercial substance. 4. The required disclosures for nonmonetary transactions.
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codification...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codification citation (XXX-XX-XX-X) for each of the following: 1. The balance sheet classification for a note payable due in six months that was used to purchase a building. 2. The assets that may be excluded from current assets. 3. Whether a note receivable from a related party would be included in the balance sheet with notes receivable or accounts receivable from customers. 4. The items that are nonrecognized subsequent...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org) Required: Determine the specific nine-digit...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org) Required: Determine the specific nine-digit Codification citation (XXX-XX.XX.XX) for accounting for each of the following items 1. What alternative approaches can be used to estimate variable consideration? 2. What alternative approaches can be used to estimate the stand-alone selling price of performance obligations that are not sold separately? 3. What determines the timing of revenue recognition with respect to licenses of symbolic intellectual property? 4. What indicators suggest that...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following:1....
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following:1. The specific eight-digit Codification citation (XXX-XX-XX-X) that describes the meaning of cost as it applies to the initial measurement of inventory.2. The specific nine-digit Codification citation (XXX-XXX-XX-X) that describes the circumstances when it is appropriate to initially measure agricultural inventory at fair value.3. The specific eight-digit Codification citation (XXX-XX-XX-X) that describes the major objective of accounting for inventory.4. The specific eight-digit Codification citation (XXX-XX-XX-X)...
Question 3 (1.5 points) What was the problem prior to the issuance of the Codification? Accounting...
Question 3 (1.5 points) What was the problem prior to the issuance of the Codification? Accounting guidance about following GAAP was unorganized and spread across multiple sources All of the above Accounting guidance about following GAAP did not exist GAAP did not exist Question 1 (1.5 points) Which organization sets Generally Accepted Accounting Principles? SEC FASB Codification AICPA
FASB codification research E 10-20 The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles 1. Obtain the relevant authoritative literature on nonmonetary exchanges using the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Identify the Codification topic number for nonmonetary transactions. What are the specific citations that list the disclosure requirements for nonmonetary transactions? Describe the disclosure requirements. 2. 3. E 10-21 FASB codification research Access the FASB Accounting Standards Codification at...
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org) Required: Determine the specific nine-digit Codification citation (XXX-XX.XX.XX) for accounting for each of the following items 1. What alternative approaches can be used to estimate variable consideration? 2. What alternative approaches can be used to estimate the stand-alone selling price of performance obligations that are not sold separately? 3. What determines the timing of revenue recognition with respect to licenses of symbolic intellectual property? 4. What indicators suggest that...
Question 3 (1.5 points) What was the problem prior to the issuance of the Codification? Accounting guidance about following GAAP was unorganized and spread across multiple sources All of the above Accounting guidance about following GAAP did not exist GAAP did not exist Question 1 (1.5 points) Which organization sets Generally Accepted Accounting Principles? SEC FASB Codification AICPA
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