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Unformatted text preview: financial impact on the firm on the particular date?- Acquisition cost- Fair value (if different from acquisition cost)- Net realizable value- Present value Ñ Subsequent treatment – How should an organization’s recognition and measurement treatments change over time to faithfully represent changes to the organization?- Recognition, de-recognition, and classification $ use rules in ˛ and ˇ- Re-measurement- Accretion- Amortization- Expectations-based adjustment Ò Disclosure of information in notes to financial statements - What, and how much, information should an organization report to users in addition to what the financial statements reflect?- Sufficiently material to make a difference in users’ relevance-related judgments- Initial measurement and re-measurement $ use rules in — and Ñ...
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This note was uploaded on 02/16/2012 for the course ACCY 510 taught by Professor Staff during the Fall '08 term at University of Illinois, Urbana Champaign.
- Fall '08