cma_Conceptual_Frame_Work_For_Financial_Reporting

Com 0502265272 0105030092 wwwahscadacom022622173

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Unformatted text preview: 72 0105030092 : WWW.AHSCADA.COM022622173 022622168 1016448872 : 0124059666 034851600 034865655 : – % &'( ) ! , $- ./ : *+ 35 ! " # # $ : :, $- 7 Accounting Accounting House House www.jpspublished on www.jps-dir.com Income Determination Accounting Recognition Basis / Source of GAAP Method * Point of Sale ARB 43 (Ch 1A) * Transaction Approach (Sale Basis) Reason(s) for Departing from Sale Basis Criteria for use of Basis * Exchange has taken Place. * Earning Process is (virtually) Complete. * During Production Basis * Percentage-of-Completion * Completion-of- Production * Availability of evidence of Ultimate Process. * Better Measure of Periodic Income. * Avoidance of Fluctuations in Revenues, Expenses, and Income. * Immediate Marketability at * Known or determinable Quoted Prices. * Unit Interchangeability. * Net Realizable Value Basis ARB 43 (Ch 4) * Long-Term Construction Property, or Service Contract. * Dependable Estimates of Extent of Progress and Cost to complete. * Reasonable Assurance of Collectibility of Contract. ARB 45 and AICPA Contr...
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This document was uploaded on 02/09/2014.

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