ACCT251Ch6ProfessionalResearchSolSol

ACCT251Ch6ProfessionalResearchSolSol - PROFESSIONAL...

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PROFESSIONAL RESEARCH: FASB CODIFICATION
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Search strings: “present value”, present and value, Present value$, “best estimate”, “estimated cash flow”, “expected cash flow”, “fresh-start measurement”, “interest methods of allocation” (a) Statement of Financial Accounting Concepts No. 7, “Using Cash Flow Information and Present Value in Accounting Measurements (FASB 2000). (b) See Appendix B: APPLICATIONS OF PRESENT VALUE IN FASB STATEMENTS AND APB OPINIONS, CON7, Par. 119 119. . . . The accompanying table is presented to assist readers in understanding the differences between the conclusions reached in this Statement and those found in FASB Statements and APB Opinions that employ present value techniques in recognition, measurement, or amortization (period-to-period allocation) of assets and liabilities in the statement of financial position. Some examples are: Debt payable and related premium or discount Asset acquired by incurring liabilities in a business combination—“An asset acquired by incurring liabilities is recorded at cost—that is, at the present value of the amounts
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ACCT251Ch6ProfessionalResearchSolSol - PROFESSIONAL...

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