The exposure draft was open for public comment until

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Unformatted text preview: Codification®. The Exposure Draft was open for public comment until March 13, 2012. Download the FASB Exposure Draft. Download the Proposed Amendments to the FASB Accounting Standards Codification Download the IASB Exposure Draft, which is the same except for minor differences in spelling, style, and format. • Trade discounts represent a reduction in the listed price of a Read roduct or release introducing the Exposure Draft. p the press service (e.g., a volume discount). Read the FASB In Focus and the IASB Snapshot, which provide summaries of the proposals contained in the Exposure Draft. Listen to a brief podcast recording of FASB Board Member Russ Golden • Trade discounts enter into the calculation of GROSS sales. discussing the objectives, basic elements, and expected impact of the proposals contained in the Exposure Draft. - Trade discounts are typically noted, but they do NOT require Download adjusting staff’s summary comparison document (updated on an the FASB journal entry. March 15, 2012), Revenue recognition—Potential changes to U.S. GAAP. Listen to the joint webcast of the FASB and IASB addressing frequently Lemond Corporation offers a 10% volume discount on any orders Trade discounts over $100,000. Bontrager Company purchases $200,000 worth of goods from Le...
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This document was uploaded on 02/17/2014 for the course ACCTG 215 at University of Washington.

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