Chapter 1 - Solution Manual

B it is a conduit bond obligor for conduit debt

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b. It is a conduit bond obligor for conduit debt securities that are traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local or regional markets). c. It files with a regulatory agency in preparation for the sale of any class of debt or equity securities in a public market. d. It is required to file or furnish financial statements with the Securities and Exchange Commission. e. It is controlled by an entity covered by criteria (a) through (d).
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28 105-10-65 Transition and Open Effective Date Information General > Transition Related to FASB Statement No. 168, The FASB Accounting Standards Codification™ and the Hierarchy of Generally Accepted Accounting Principles 65-1 The following represents the transition and effective date information related to FASB Statement No. 168, The FASB Accounting Standards Codification™ and the Hierarchy of Generally Accepted Accounting Principles: a. The pending content that links to this paragraph shall be effective for financial statements issued for interim and annual periods ending after September 15, 2009. b. The Financial Accounting Standards Board (FASB) Accounting Standards Codification ™ shall become the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (SEC) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. c. As of the effective date stated in paragraph 105-10-65-1(a), all then-existing non-SEC accounting and reporting standards that had been included in levels ( a ) through ( d ) GAAP are superseded, except as noted in paragraph 105-10-65-1(d) and as described in Section 105-10-70. Concurrently, all nongrandfathered, non-SEC accounting literature not included in the Codification is deemed nonauthoritative. d. The following standards shall remain authoritative until such time that each is integrated into the Codification: 1. FASB Statement No. 164, Not-for-Profit Entities: Mergers and Acquisitions 2. FASB Statement No. 166, Accounting for Transfers of Financial Assets 3. FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R) 4. FASB Statement No. 168, The FASB Accounting Standards Codification™ and the Hierarchy of Generally Accepted Accounting Principles. e. Nonpublic nongovernmental entities that previously have not applied the guidance in the paragraphs listed below shall account for the adoption of that guidance as a change in accounting principle on a prospective basis for revenue arrangements entered into or materially modified in those fiscal years beginning on or after December 15, 2009, and interim periods within those years: 1. Paragraph 855-10-60-4 2. Paragraphs 985-605-15-3 through 15-4 3. Paragraphs 985-605-55-4 through 55-118 4. Paragraphs 985-605-55-186 through 55-203
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29 5. Paragraphs 985-845-25-1 through 25-7 6. Paragraphs 985-845-55-1 through 55-8.
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