FASB Codification Guide-2

The glossary features of the system include pop up

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Unformatted text preview: ARCHIVE tab to activate it. Go to the page for Section 480-10-20. Activate the ARCHIVE tab. Select the date of June 30, 2010, then click the SUBMIT button. Select the month, day, and year of the date you are interested in. Click the SUBMIT button. WORKING WITH GLOSSARY TERM DEFINITIONS Citing Glossary Term Definitions Although the FASB does not provide guidance in how specific requirements of U.S. GAAP are referred to in footnotes to financial statements, in situations where a glossary term with multiple definitions is being cited, the reference should be to the Section 20 in which the relevant definition is located. For example, you might use, ―Fair Value, as defined in Section 820-10-20,…‖ Lesson 9: Working with Glossaries Try It Now 89 Annotating Glossary Term Definitions In the System, you can annotate individual glossary term definitions just as you can annotate individual Codification paragraphs (as explained in Lesson 6). For glossary term definitions, the System’s annotation features are available only on the GLOSSARY tab of Section 20 pages and on pages where Section 20 content has been assembled with the paragraph-level content of other Sections. Annotations of glossary term definitions are also included on the MY ANNOTATIONS tab of the My Stuff page. LESSON SUMMARY Many words and phrases used throughout the guidance in the Codification have specific meanings as defined by the FASB and the SEC. Such glossary terms are defined in the Codification. The glossary features of the System include pop-up glossary-term definitions, Section 20 glossaries, and the Master Glossary. To display, in a pop-up box, the definition of a glossary term appearing in the text of Codification guidance, position your mouse pointer over the term. Within a Subtopic, any pending and current glossary terms and their definitions are located in Section 20. In the System, they are located on the GLOSSARY tab of the Section’s page. Archived glossary terms and definitions are accessible through the ARCHIVE tab of a Section 20 page...
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