FASB Codification Guide-2

The inclusion of titles conveys significant

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Unformatted text preview: : In notes that accompany financial statements: ―As required by the Leases Topic of the FASB Accounting Standards Codification, rent abatements and scheduled rent increases must be considered in determining the annual rent expense to be recognized.‖ In technical publications: ―Operating Leases and Capital Leases are two Subtopics of the Leases Topic.‖ Mixed Citation Styles Some acceptable citation styles are neither purely number-based nor purely titlebased. Citation styles that mix numbers and titles are common in practice, for example, ―Section 25, Recognition, of Subtopic 10, Overall, of Topic 840, Leases, of the FASB ASC.‖ The advantages and disadvantages of mixed citation styles are summarized below: Advantages Disadvantages Any portion of the Codification content can be cited when using a mix of numbers and titles. The inclusion of titles conveys significant information about the subject matter of the content being cited. The inclusion of identifying numbers enables readers to navigate easily to the cited content. Mixed citations are the most verbose of all styles and are often awkward if used to cite content below the Topic level. Mixed citations carry the risk of mismatched numbers and titles. There are many places where you can observe mixed citation styles in actual use: In notes that accompany financial statements: ―On October 1, 2009, the Company adopted authoritative guidance on accounting for nonrefundable maintenance deposits in accordance with ASC 840, Leases.‖ If you navigate to the page of any Topic, Subtopic, or Section in the System, the Topic, Subtopic, and/or Section numbers and titles will be displayed in large characters near the top of the page. Lesson 5: Citing Codification Content 52 Breadcrumb Citation Styles Another acceptable Codification citation style is the ―breadcrumb‖ style. The advantages and disadvantages of such citation styles can be summarized as follows: Advantages Disadvantages Breadcrumb citations are relatively concise. Usefulness is limited to location indicators and navigational features within the System . Breadcrumb citations are awkward when used in prose. Use of the breadcrumb style to cite paragraph groups is possible but likely to be very confusing to readers. Areas, paragraphs, and subparagraphs cannot be...
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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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