Wednesday, May 6, 2020
Essay on Financial Accounting Textbook Solution - 11168 Words
CHAPTER 1 Financial Accounting and Accounting Standards ASSIGNMENT CLASSIFICATION TABLE | | | | |Topics |Questions |Cases | |1. |Subject matter of accounting. |1 |1 | |2. |Environment of accounting. |2, 3, 4 |3, 4 | |3. |Role of principles, objectives, standards, and accounting |5, 6, 7â⬠¦show more contentâ⬠¦|Complex |20ââ¬â25 | |CA1-13 | |Securities and Exchange Commission. |Moderate |30ââ¬â40 | |CA1-14 | |Rule making process. |Moderate |25ââ¬â35 | |CA1-15 | |Financial reporting pressures. |Moderate |25ââ¬â35 | |CA1-16 | |Economic consequences. |Moderate |25ââ¬â35 | |CA1-17 | |GAAP and economic consequences. |Moderate |25ââ¬â35 | SOLUTIONS TO CODIFICATION EXERCISES CE1-1 There is no answer to this requirement as it asks the student to register to use the Codification. CE1-2 (a) The Codification Overview module illustrates three items (1) the topic structure (2) different methods of accessing and viewing content, and (3) a summary of the unique features of the Codification Research System. (b) The Codification is intended to (1) become the single source of U.S. accounting standards and (2) supersede all of the non-SEC documents used toShow MoreRelatedAccounting For Securitization Of Receivables Under990 Words à |à 4 PagesP1. Discuss accounting for securitization of receivables under 1. US GAAP There are uncertainties in whether a receivable is sold or being used as a collateral for a loan. Thus, FASB has provided guidelines to distinguish between the two. FASB ASC 860-10-40-3 states that a financial asset should be considered sold and therefore should be derecognized if it is transferred and control is surrendered. 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