Unformatted text preview: X 6. Actual or possible claims and assessments X 7. Guarantees of indebtedness of others** X 8. Agreements to repurchase receivables (or the related property) that have been sold X * Should be accrued when both criteria are met (likely and reasonably estimable). ** Estimated amounts of losses incurred prior to the balance sheet date but settled subsequently should be accrued as of the balance sheet date. Source: Kieso, Weygandt, Intermediate Accounting , Eighth Edition....
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This note was uploaded on 03/28/2012 for the course ACCTG ACC423 taught by Professor Smith during the Spring '10 term at University of Phoenix.
- Spring '10