FASB Codification Guide-2

Q1 identify the level of the codifications content

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: rarchical structure. The ―paths‖ of Codification citations are constructed from titles and/or concise identifiers (usually numbers) of various portions of the Codification content. There are different citation styles that you can use, which present content titles and/or concise identifiers in a particular way. The appropriateness of a given citation style depends on the situation in which the citation style is used. If a Subtopic is shared between two Topics, the Topic specified in the Subtopic’s citation should be the dominant Topic. The ―Go To‖ feature of the System enables System users to navigate accurately and quickly to Codification content that is cited by number alone. Lesson 5: Citing Codification Content 55 Try It Now Go directly to Section 840-10-25 by using the “Go To” feature. REINFORCE YOUR LEARNING Questions Use the System as needed to help you determine the correct answers to these questions. Q1: Identify the level of the Codification’s content hierarchy (Area, Topic, Subtopic, etc.) to which each of the following citations refers: a. 940-325 b. 940-325-20 c. 325-20 d. Compensation—Nonretirement Postemployment Benefits e. 270-10-S45 f. 808 g. 220-10-55-15 h. 740-10-55-220 i. Commitments > Overall > Disclosure > Unconditional Purchase Obligations j. 230-10-55-20(a) k. 860-10-55-25A. Q2: Create a citation for Section 30 of Subtopic 40 of Topic 350 in each of the following styles: a. Number-based b. Title-based c. Mixed d. Breadcrumb. Q3: Identify the errors in the following invalid Codification citations: a. Topic 942, Financial Services—Insurance b. Subtopic 740-942 c. Subtopic 270-740 d. Subtopic 10-270 Lesson 5: Citing Codification Content 56 e. Overview and Background > Overall > Generally Accepted Accounting Principles f. Section 20, Services, of Topic 605, Revenue Recognition g. The Subsequent Measurement Section of the Financial Instruments Topic. Exercises E1: Use the System’s ―GO TO‖ feature to navigate...
View Full Document

This note was uploaded on 03/27/2014 for the course ECON 12586 taught by Professor Yorambarzel during the Fall '09 term at University of Washington.

Ask a homework question - tutors are online