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Unformatted text preview: Equity Method and Joint Ventures:
a. How many exclusive Subtopics does the Topic contain?
b. How many shared Subtopics does the Topic contain? Exercises
E1: From any page within the System, navigate directly to the page for Subtopic 60,
Troubled Debt Restructurings by Debtors, within Topic 470, Debt, with just one mouse
click. Use the pop-up menus to do this.
E2: Use the System’s ―JOIN ALL SECTIONS‖ feature to assemble, on a single page, all
Sections of Subtopic 60 within Topic 470. Problem
P1: A reporting entity in the magazine publishing industry owns real estate consisting of a
printing plant and the land on which the plant is located. The entity is planning to sell
the real estate for cash. Identify the specific Codification Subtopic that contains
accounting guidance on such sales of real estate, also identifying the Topic in which
the Subtopic is located and the Area in which the Topic is located. Lesson 2: Navigating the Codification 21 LESSON Working with Section-Level Content 3 Lesson Scenario
Daria is the director of financial reporting for a commercial bank. As a publicly held
corporation, the bank is required to file its financial statements with the SEC.
In recent months, many individuals and businesses to whom the bank has lent money
have failed to make their loan payments. As a result, the bank has experienced losses on its
loans. Daria wants to verify that the bank’s policies on accounting for loan losses are
consistent with FASB and SEC guidance as documented in the Codification.
From experience, Daria knows that the Overall Subtopic of the Receivables Topic in
the Assets Area is the relevant Subtopic to review. Furthermore, because she knows that the
Sections within every Subtopic are titled and numbered in a standardized way, she correctly
assumes that accounting for loan losses is addressed in Section 35, Subsequent Measurement,
of the relevant Subtopic. Daria navigates to the relevant Subtopic in the System and quickly
accesses relevant FASB and SEC guidance at the Section level. Learn...
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- Fall '09