FASB Codification Guide-2

The final portion of each lesson is titled reinforce

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Unformatted text preview: extent of your learning before undertaking activities that will reinforce it. The final portion of each lesson is titled Reinforce Your Learning. It consists of questions, exercises, and problems for you to work through to improve your understanding and retention of what you have learned. Do not skip these items. The results of your performance on these end-of-lesson activities are the best indicator of whether or not you are ready to move on to the next lesson. Navigating through the Learning Guide PDF Online You may click on any section title listed in the Learning Guide table of contents to go directly to the section. To return to the table of contents from that section, right click and select ―Previous View.‖ You may also use the keyboard shortcut ―Alt+Left Arrow‖ to return to the previous view. Notice Specific Codification content and specific System features that appear in this Learning Guide may have changed since this Learning Guide was published. Such changes may affect the examples, illustrations, questions, exercises, and problems herein. Getting the Most Out of This Guide vi Sidebars A sidebar looks like this. Be sure to read the ones that appear in the lessons of this Learning Guide. LESSON Getting Started with the Codification 1 Lesson Scenario Angela is an accountant who works for a manufacturing company. She just received an email from her boss, Barry, who wants her to meet with him to discuss ―writing down‖ the carrying value of certain inventory items. Angela is not familiar with the authoritative accounting guidance for inventory write-downs, so she prepares for her meeting with Barry by consulting the Codification. Angela logs in to the System and proceeds to navigate through the various levels of the Codification content. She goes first to the Assets Area, then within that Area to the Inventory Topic, and then within that Topic to the Overall Subtopic. Finally, she goes to the Subsequent Measurement Section of that Subtopic and begins reading about the circumstances under which U.S. GAAP req...
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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.

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